Conversion rates

by sindhu90 9 replies
Hi,

What are conversion rates and high conversion rates in marketing? Can anyone explain me in brief?

Thanks in advance
#conversion rate optimization #converstion #rates
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  • Profile picture of the author Doan Chi Tin
    For example: If you have 100 visitor to your website/sale page you make 1 sale.

    So your conversation rate is 1%

    I dont want to say too much about high conversation rate.... because my highest is only 2%

    I hope it help you.
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  • Profile picture of the author Deeksha B
    Action/no. of clicks is your conversion rate, for ex: - if you have a website through which you are selling the products and you got 100 clicks and one sale, then your conversion rate will be 1%. You must choose network like admitad; who have a wide range for the publisher who is running good campaigns with high traffic.

    Remember good traffic is essential for high conversion.
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  • Profile picture of the author Olivia Thomas
    If the no. of visitors on your website are 100 and 2 of them complete an action (making sale, filling form, etc.) then your CVR (conversion rate) will be 2%. This image will give you an idea of the average CVR according to your industry type:
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  • Profile picture of the author joncoates89
    The conversion rate is the number of customers who have actually purchased and completed a transaction divided by the total number of website visitors. You can increase those rates by sharpening on your sales skills/ sales funnel knowledge/ split testing/ copy writing/ consistently collecting and studying swipe files from the best and most successful current high conversion pages. So the reason why you want to do all of this is to tip the odds more in your favor, which in turn increases your conversion rates, which in turns increases the amount of cash in your pocket. Does that makes sense?
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  • Profile picture of the author Mitteez
    i agree with Doan Chi Tin .
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  • Profile picture of the author RalphThomas
    Conversion rates are calculated by simply taking the number of conversions and dividing that by the number of total ad clicks that can be tracked to a conversion during the same time period.
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  • Profile picture of the author aiva
    A conversion rate is the number of visitors that take action on your website. Your conversion goal could include capturing leads, engaging social media fans, promoting videos to improve video views & time on page, improving CTR etc. Typically, the average conversion rate is around 2%. Websites are constantly implementing new solutions to optimize their conversion rate which includes creating cool campaigns & AB testing to see what works best. By adopting best practices, businesses increase their conversion by 5x (10%+).

    If you have any questions about CRO and/or website engagement - shoot me a message, I'd love to help!
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  • Profile picture of the author onedomains
    History of our conversion rates and most are based on actions not sales

    Early net when it was new 95 to 97 banners got a huge CTR some of ours got 30% or higher when most were getting 3%, reason, we have always had a super fast network so our banners were the first thing to load and most were for sensational stuff, best all time was when Diana died and the top banner was Diana Crash or Death photos, first few days the CTR was 60% or higher then 30% to 40%, now all those banners led to sites that had a simple join here to see info.

    So the join was a free trial, with a CC for a membership site, and our conversion rates were crazy high like 30% to 50%, for a person to hit a landing page and opt in for a free trial with a CC to verify age, after the trial they were billed and most were billed.

    Another site we did was Free eBooks when Bezos didn't even know what an eBook was and our conversion rates were 80% to just get a person to the page and join the site with an email to get in as a 'member'. It got over a million members the first year and we sold a ton of ebooks. We gave away some free stuff and the rest were buy it only here and its not in print and its beautiful pdf.

    Now those were the good old days, today its way different.

    Banners are DEAD, you are lucky to get .2% CTR on a top of page banner saying heres 100 bucks free, people have banner blockers and people just don't look at banners.

    Now today, most of our analysis on action conversions are as follows, most don't get 5% and yet we rock due to many reasons, a. super fast network, landing pages are well under 1 second so everyone sees it, etc. and high response content.

    Landing pages are small, on our network and most of the time we just want a visitor to call a tracking number to a client, usually lawyer, doctor, mechanic, roofer or whatever.

    Our conversion rates for actions like that are

    100 ppc clicks deliver in actions not sales, an action is a phone lead or an email lead

    20% SEO rates
    33% to 55% auto industry trans shops, autobody, etc
    30% to 60% trades roofers and plumbers etc
    40% to 70% legal industry
    40% to 60% florist industry
    90% towing industry

    the spread is 20% usually due to city versus rural and areas with fraud, when its a city with a low ratio its usually fraud so then you have to start tracking ips and banning tons of them and then it settles down

    so when you buy targeted traffic, PEOPLE LOOKING FOR WHAT YOU HAVE, you get great conversion rates if you have speed and a high response content page which means less is more.

    if you try to analyze organic seo or whatever, 90% is bots and junk, so rates are junk

    but when you get into targeted paid traffic which is all we care about, those are our rates

    its not sales and some companies can't close off these leads, thats why we do month to month contracts with everyone, if we blow up their phones with leads as we always do and the person cant close internet leads, they need to learn sales skills which many professionals lack, since they rely on word of mouth or trades job signs, etc, so they honestly just dont know how to close.

    internet leads usually end up being 25% to 50% closing ratios, so 4 leads or 2 leads becomes a sale, with high ratios low cost stuff like flowers and low ratios being high cost items like seo or web design etc

    now most of our clients have no way to buy online, a few do and 90% or more of business of clients that have carts on is phone orders, people honestly don't like to use carts unless its a network they know, ebay, or zon or whatever

    my 2 cents and my background is over 20 years of IM and mega millions in sales
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  • Profile picture of the author Aanshuleka
    Higher website conversion rate crucial as it is the final step in the long sales/marketing process, converting as many people on the website. It will also improve the ROI of the website.
    Here are some points which help you to increase conversion rate of the website-
    1. Incorporate multimedia
    2. Use clean and simple layout
    3. Be concise
    4. Decrease your load times
    5. Add client testimonials
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