When you are starting with your online business, you must evaluate and analyze your website. There are many data metrics that can help you with that, such as subscriptions, upgrades, click-through rates, etc. However, one of the most important metrics is the conversion rate on website. It can help you to know your website’s overall performance.
Keep reading the blog, as we will explain you more about website conversion and how to improve the site conversion rate.
What is website conversion?
When a user completes a desired action on the website, such as filling up a form or sign-up for the newsletter, it is called website conversion.
The main purpose of any website is to grasp the customers’ attention and get conversions. Basically, there are two different types of website conversions:
1. Micro-conversions
Micro conversions happen when a user takes a small step toward your key goal, such as downloading a whitepaper, watching your brand video, or subscribing to a newsletter.
Micro conversions are the small milestones achieved before a macro conversion.
2. Macro-conversions
Macro conversions happen when your main goal is achieved, such as when a lead turns to a customer, a trial version user takes up the subscription, etc.
Now, you must be thinking about how to measure the conversion rate. In this next section, we will give you the formula to calculate the conversion rate on website.
Website Conversion Rate Formula
The conversion rate can be calculated by dividing the total number of conversions by the total number of site visitors. Then, multiply it by 100 to get the exact percentage.
Total Number of Conversions
Conversion Rate = ______________________ X 100
Total visitors on site
For Instance, the total number of visitors on your site was 2000, and only 20 converted to customers. Then, the conversion rate can be calculated as follows:
20 (Total number of conversions)
Conversion rate= ______________________________ X 100 = 1%
2000 (Total number of site visitors)
The conversion rate here would be 1%. This is how you can calculate your own website conversion rate as well.
What is a good conversion rate?
Now, you know what is conversion rate and how to measure it. However, there are many other factors that affect the conversion rate.
The factors that influence the conversion rate are as follows:
- The type of industry (Information Technology, Manufacturing, finance, etc.)
- Length of the sales cycle
- Quality of products/services compared to competitors.
- Product/service pricing
- Conversion goal (filling out the contact form, subscribing to the service, etc.)
Apart from the factors mentioned above, the conversion rate is also altered by several minor factors. However, a good conversion rate range can be considered from 2% to 5%.
If you have just started your website, you can look at the conversion rate of other industry-leading companies to see how they have optimized it.
Why measure the conversion rate?
You must be speculating why it is important to measure the conversion rate. Measuring the conversion rate on website can tell you a lot about your website performance and product/service results.
Below we have given the two major reasons for which you must assess your website conversion.
1. Understand your target market
To attract your target market to your business, you must know what they like, need, or want. You should try to know what they appreciate or detest about your website or product/service.
Website conversion rate can reveal numerous insights, such as:
- A high conversion rate depicts that your customers like your website and are happy or satisfied with your offerings.
- A low conversion rate suggests that you need to improve your website outlook and explain your products or services’ benefits more impressively.
You can use WebMaxy Analyzer to conduct surveys on your low-converting pages and take feedback from the customers directly.
It offers various pre-designed survey templates that you can use to create and launch surveys quickly.
2. To know your customer experience.
Knowing how your users interact and engage with your website can help you make significant alterations and optimizations.
The conversion rate can help you understand your user experience in the following ways:
- A high conversion rate indicates that you are probably providing a good customer experience and making efforts in the right direction.
- A low conversion rate infers that your customer experience is not that great. You probably need to investigate the areas of your website that are not working well.
By using the WebMaxy Analyzer session recording feature, you can record your website visitors’ sessions and identify the website issues like confusing design elements, inappropriate CTAs, etc.
How to increase your website conversion rate?
In this section, we will give you the best ways to increase the conversion rate on website. You can optimize your website conversions by making even small changes like bolding fonts, placing relevant CTAs, etc.
Now, let’s have a glance at the five best ways that can help boost your site conversion rate.
1. Knowing the driving factors of your website
Having a constant flow of customers is vital for any business. By identifying consumers’ needs, wants, and pain points, marketers can implement better strategies.
You must try to know what drives people to your website, what they like the most about your product/service, etc. Knowing your visitors can help you plan your website more effectively.
You can create an on-site survey on your high-converting pages and know the elements that bring customers to you. You can ask questions like:
- What bought you today on our website?
- Can you describe yourself in a few lines?
- What are you searching for today?
WebMaxy Analyzer has many customer survey samples with well-researched questions. You can take their trial version to access and execute them now.
2. Barriers that prevent customers from converting
To provide your users with the best experience, you need to get a clear idea of their perspectives.
You need to see your website from their perspective to know how they perceive it. The three most effective techniques to do so are:
- Heatmaps: Heatmaps indicate customers clicked and scrolled areas of your website. The most clicked areas are marked with red, while the least engaged areas are marked with blue.
You can use the WebMaxy Analyzer heatmap feature to know the areas of your website that can be enhanced.
2. Session recordings: By watching the user session recordings, you can discover how your users interact with your website and detect the UX issues like website bugs or inoperative links, etc.
3. Feedback surveys & polls: You must take feedback or suggestions from your customers through surveys and polls. These real insights can assist you in making changes as per the users’ needs, wants, and expectations.
You can refine your website and get more customers by analyzing these users’ insights.
3. Make your site navigation easy.
Most people visit a website to search for something, but if they don’t find it quickly, they exit the site. You should ensure that this doesn’t happen with your users.
Try to make your website navigation simple and easy so that the visitors find the required information quickly. One of the reasons for a low conversion rate could be complex website design or elusive components.
According to a report by WebFX, 89% of the users will shop from a competitor after a poor user experience. Therefore, you must make sure that your website navigation is straightforward and easy to use for anyone.
4. Make your website mobile-friendly
Nowadays, people have started using mobile devices quite a lot. According to a recent report, 75% of users prefer a mobile-friendly website, and over 40% of transactions happen on mobile.
From this report, you can understand how important it has become for businesses to have a mobile-friendly website. Below, we have given some best tips to make your website mobile-friendly.
- Responsive design: Make your website design adaptable for all devices. Ensure that your website design is responsive and works perfectly at all times.
- Add bigger CTAs: The mobile screens are small, and most people use their thumbs to scroll down. Therefore, you should use more prominent CTAs and position them in a way that they’re clearly visible and clickable.
- Make your font size larger: Reading information from the phone in a small font is really difficult. You shouldn’t put your audience in that struggle. Try to keep the font size larger for the mobile screens.
By making your website mobile-friendly, you can engage more leads and obtain a high conversion rate.
5. What motivates people to buy again from you?
Once a customer has taken your product/service, you must try to know if they’re satisfied with it.
Asking them about their experience can aid you in knowing the bottlenecks of your strategy and the potential areas of development.
You can also take a post-purchase or NPS survey to get clear answers from your users directly. Ask questions to your customers like:
- How would you rate your experience with us?
- Did you enjoy shopping with us?
- What would make you purchase from us again?
- How do you think we can improve your experience?
- Would you recommend our product or service to your friend or family?
You can take different types of surveys such as customer satisfaction, market research, evaluation, feedback survey, and many more with WebMaxy Analyzer.
By assessing the answers to these questions, you can make necessary changes and improve the conversion rate on website.
The Bottom Line
Conversion rate is an essential metric for any business as it confers if the marketing efforts are going in the right direction or not. You can optimize your website conversion by understanding your users’ behavior and analyzing the data.
WebMaxy Analyzer is a user behavior analysis tool that can help you understand your website visitors’ behavior. It comes with various features, such as session recordings, heatmaps, surveys & polls, form analysis, funnel view, user insights, etc. Schedule a call with our experts to optimize your website conversion rate, or email us at [email protected].
