How do you measure conversion rates?
There's been a lot of discussion about conversion rates and I thought it was a good idea to talk about that little bit.
It seems like people who have little traffic measure their conversion rates after receiving just a single sale or two at the most. The reality is that when you're dealing with a variety of different traffic sources you need to consider that measuring conversion rates must be done when you have enough data.
As a for instance I usually don't write off anything I'm promoting until I have sent a minimum of 5000 visitors to that site. Sometimes the first thousand visitors don't convert right away but by the time I get to 5000 visitors my conversion rate might be 1:600.
If my goal was to convert one in 600 my gut reaction might be to stop promoting after 1000 visitors, but this can be counterintuitive.
The next time someone tells you how well they are converting you should ask them how many sales or visitors or both they used to calculate those numbers. Often you'll find that these numbers were provided after just a single sale or two were made.
I am interested to know how you weigh in on the subject. How do you measure your conversion rates? How many visitors before you turn the tap off?
It seems like people who have little traffic measure their conversion rates after receiving just a single sale or two at the most. The reality is that when you're dealing with a variety of different traffic sources you need to consider that measuring conversion rates must be done when you have enough data.
As a for instance I usually don't write off anything I'm promoting until I have sent a minimum of 5000 visitors to that site. Sometimes the first thousand visitors don't convert right away but by the time I get to 5000 visitors my conversion rate might be 1:600.
If my goal was to convert one in 600 my gut reaction might be to stop promoting after 1000 visitors, but this can be counterintuitive.
The next time someone tells you how well they are converting you should ask them how many sales or visitors or both they used to calculate those numbers. Often you'll find that these numbers were provided after just a single sale or two were made.
I am interested to know how you weigh in on the subject. How do you measure your conversion rates? How many visitors before you turn the tap off?
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Matt Bard -
Thanks
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