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How-to 8 min read October 16, 2019

How to increase website conversion rate and how high should it be

Author of Serpstat Advanced Tools
Ekaterina Banaryuk
Marketer at Streamwood
Increasing conversion rate is the evidence of the company's growing success and profit, therefore it is important to take special measures to increase this indicator. Let's consider them in more detail.

What is the conversion rate

Most visitors go to websites "just for fun"; they do not buy anything, do not call you, do not subscribe to your newsletter, they are only interested in the information on websites. According to many conducted studies, the proportion of such people is close to 97%.

The remaining percentage is those people who perform target actions and generate profits for companies. That 3% is the conversion of "just users" into customers.

These conversion indicators vary across industries. For example, the average conversion rate of a Facebook group is 20% to 30%, and the one of an online store is 2% to 5%.

Other things being equal, an increase in conversion means an increase in profit, therefore, special methods are used to increase the Conversion Rate (CR).

What are "target actions"

Visitors to a website can do (or cannot do if no one took care of increasing the conversion rate) the following things:

  • click on a link or a banner;
  • order goods;
  • create personal accounts (register);
  • enter data in digital forms;
  • agree to receive newsletters;
  • call and find out something from the staff;
  • repeatedly go from one page to another without leaving the website.

Making each of these actions is considered a conversion and positively affects the result. You can check the conversion rate using the Google Analytics counter which is implemented on your website.

Here is the formula for calculating the conversion rate: CR = Х / Y x 100%, where Х is the number of users who made a target action, and Y stands for all website visitors. The counter gathers information about website visits and transactions.

What will happen if you do not improve the conversion rate of your website

1
Goods and services are not sold even if they are good and not very expensive.
2
Marketing expenditures increase, but it yields no outcome as new customers are not acquired and regular ones visit your website rarely.
3
As a result, your business is not growing.
You can fix the situation; you need to correctly interpret the idea of a potential customer, vitalize it and offer to deliver their needs with the help of your goods. We will talk about how to do it in a little while.

What is the average conversion rate of various websites

E-commerce. The average conversion here is 2-7%. Only top e-commerce projects get closer to 7%, but there are very few of them.

In the B2B segment, the conversion rate is higher; it fluctuates from 2% to 12%.

The lowest conversion rate for financial companies is 5%; on average, 20-25% of visitors to the top financial companies' websites convert into customers.

Reaching the average conversion rate for your segment is already good enough. It is not always worth going all out on achieving the maximum conversion rate.

Ways to improve the conversion rate of a website

To get a high conversion rate index, you need to make a series of actions. The more actions from this list are made, the faster the website's conversion rate will increase.
#1

Careful planning of advertising campaigns

When planning to send out advertising push notifications, you need to accurately define your audience, find the most effective communication channels and calculate how much it will cost to attract one user who will perform the target action (this indicator is called CAC which means customer acquisition cost).

The cost of acquiring one user via push notifications is 5 times less than running paid search advertising, however, it is worth experimenting with both methods. Specific solutions always depend on the industry of your business and the current situation.

Non-target traffic will not lead to an increase in the conversion rate of visitors into customers, so luring too wide audience to your website with advertisements is expensive and pointless. It is more effective to focus on a narrower segment that matches your target audience.
#2

Working on segmentation and retargeting

To increase the website's conversion rate, the target audience should be divided by interests, location, demography, and other characteristics. Also, visitors need to be unobtrusively returned to the website. These kinds of work are called segmentation and retargeting, respectively.

For different business niches, paid advertising on Google and other popular advertising networks and push notifications through channels which are convenient for the target audience may turn out to be more effective: some users will be interested in messages with news via Telegram or WhatsApp, others may find email newsletters and SMS more appealing.
#3

Producing content which matches user expectations

The popularity of offline and online stores depends on the same things. Among them there are:

  • availability of complete and correct information about the product range (cost, stock availability);
  • reliable and detailed product descriptions: technical specifications, recommendations for use;
  • full-color, representative, and high-quality photographs (or showcases, respectively);
  • reviews on a website.

All these are the minimum necessary conditions for a good target conversion rate.

Navigation in an online store is of high importance: the data structure must be clear, there should be necessary filters, and links to similar products or sections should be shown on time. Users like these things as they make them stay on the pages of such websites.

If a website is informational, published topics should be fully disclosed in texts, videos, photographs, and other content. In this case, the following things will serve as an indicator of the growing conversion rate:

  • subscriptions to newsletters;
  • course orders;
  • reposts;
  • likes;
  • comments.
#4

Thoughtful placement of interactive (call-to-action) elements

Such items include pop-up menus and windows, regular and animated banners, widgets, and action buttons. For users to more frequently perform target actions, it is better to place buttons and not links as they are more attractive visually.

Widgets largely depend on the website subject, but they are mostly useful on websites where users find it important to make preliminary calculations online. For example, you can publish a loan or a deposit calculator on a website of a bank.

Here are some examples of website widgets:

  • online chat — this is a chat where a consultant can answer all questions of a website visitor;

  • callback — this is a button which allows a website visitor to submit their contact details to be contacted back;

  • online appointment — this tool allows making appointments for any event type: test drives, specialist appointments, bookings, etc.;

  • customer lead generator — this tool gathers contact details of website visitors and tells them about promotions, special offers, and other information.

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