Conversion rate is the percentage of users who fulfill the desired outcome of your website (i.e. subscribing to a newsletter or purchasing a product).
In most cases, conversion rate means conversions/sessions or conversions/visitors.
Many websites have multiple different events that could be called as a conversion but in most cases, there is still one that is known as “the main conversion”.
In general, there is a funnel and reaching the end of it is know as a conversion. Each funnel step could be called a micro-conversion.
The conversion rate is one of the most popular metrics to look at when analyzing website’s performance.
What to watch
When working with website’s analytics, a conversion rate of the main goal is definitely one of the key metrics to look at.
But of course, keep in mind that looking a single metric in an isolation doesn’t tell you much. Instead, look for any trends and changes over time.
In your analytics platform, figure out if there are any browsers, devices, traffic sources etc. that have a conversion rate different from websites average. Why is that?
How to improve conversion rate
Improving conversion rate means getting more conversions out of a set number of visitors. This process is called Conversion Rate Optimization.
Conversion Rate Optimization is becoming a huge business and companies all over the world are starting to understand the importance of it.
Some of the keywords related to higher conversion rates are:
- Fix all of the bugs on your website
- Try to meet your audience’s expectations
- Target your ad campaigns more accurately
- Hire a professional copywriter
- Start running A/B tests
One of the best resources for conversion rate optimization related content is ConversionXL blog