What’s a good conversion rate from your Google Ad and Facebook Ad? What should you expect from email marketing campaigns? Is organic website traffic growth really the most powerful?
What is a conversion rate in digital marketing?
Your conversion rate is the percentage of visitors to your website that do exactly what you’d like them to when they click on the page you’ve directed them to. It’s part of your sales funnel, whereby you start with a lead magnet and the visitor then loves where it’s taken and so completes the task you had in mind (e.g., a sale, a sign up, an instruction). The conversion rate or percentage is the number of times that process happened successfully out of the total number of visitors.
A high conversion rate is indicative of successful marketing, web design and development, with inbuilt SEO and User Experience: It means people want what you’re offering, and they’re easily able to get it!
Remember Google’s Page Experience algorithm (all the detail including Core Web Vitals in this BLOG) is rolling out this year and it wants web pages to offer the ultimate in UX (the user experience).
Marketing Conversion Rates Statistics
These statistics are across ALL industries, so there is definitely a requirement for each sector to do their own research by digging deep into data analysis to find out what’s the best marketing strategy for it.
- Facebook Ads: 9.2% Source: Wordstream
- Google Ads: 4.4% Source: Wordstream
- Email Marketing: 15.11% Source: Custora Ltd
- Google SEO: 14.6% Source: Barilliance
According to Wordstream’s Larry Kim…..
If you’re already achieving 3%, 5% or even 10% conversion rates, is that as high as you’re going to go? But what is a good conversion rate? Across industries, the average landing page conversion rate was 2.35%, yet the top 25% are converting at 5.31% or higher. Ideally, you want to break into the top 10% — these are the landing pages with conversion rates of 11.45% or higher.
These figures are sort of meaningless in one way, because:
- Conversion rates differ wildly depending on the conversion goal (ad clicks, checkout completions, newsletter signups, etc.)
- Every website, page, and audience are different.
- Most people don’t share their conversion data publicly.
Averages may be useful as starting points for benchmarking, but what do they really have to do with YOUR website?
Please remember this – don’t overthink about competitors for conversion rate percentages, concentrate on tracking your own conversions, what’s working and what’s not.
Conversion Rate Formula
It’s important to understand how the conversion rate formula is formed to measure your web page. Here it is:
- It is the number of conversions
- divided by the total number of visitors
- multiplying that result by 100 to get the percentage.
Example: if the best-selling product of a sustainable fashion brand receives 12,000 visitors in a given month and achieved 250 sales, its conversion rate would be 2.08%.
This percentage brings two direct benefits to companies:
- Determine whether the performance (sales) of your products has improved over a previous period.
- Compare that performance with your industry average.
In this way, developing and tracking conversion rates is vital for to your brand, if you can’t measure your success, together with the gaps in sales, you won’t be able to fix what’s wrong, or push what is clearly a product and a product page that works.
Looking at your analytics helps you or your marketing person/team to understand what percentage of visitors are meeting targets and which products generate poor conversion rates. Data analysis gives you a deeper understanding of the product page, the products, the service – the overall WHY.
Let’s go back to the sustainable brand and say it was planning to invest in advertising to promote the latest sustainable and eco-friendly dry bag in the market, they can use the conversion rates to select the dry bags that will deliver the best results during the campaign, eliminating those with the worst sales.
Conversion Rate Optimisation (CRO) Strategy
To increase website conversion rate, your best move is to understand your visitors, users, and customers, and give them what they need.
The obvious additions or amendments on your pages should be:
- Use a strong colour for all CTA (call-to-action) buttons
- Place CTAs above the fold
- Use urgency (e.g., time-limited offers) to drive sales
- Always display testimonials (esp. product pages)
The above is what web-designers and SEOs have been doing for a while, so yes, these are relatively simple practices to adhere to, but they won’t necessarily “make” a conversion.
Understanding your audience is vital. I’d focus on quantitative and qualitative measuring at this stage too. Really listen to your audience submerse yourself into your market. Run through the user journey from landing page to post check out and after sales, is it effective?
Quantitative Research – WHAT is happening?
Use tools to allow you to collect quantitative (numerical) data to track what is happening on your website. This is where Kyle at Pickled Ginger comes into his own. He is totally data driven.
Tools such as Google Analytics to look at where your sales funnel breaks down or flows well and social media insights.
Qualitative Research – WHY is it happening?
This digs deeper and helps you collect qualitative (non-numerical) data to learn why your website visitors behave in a certain way. Personally, I love this aspect because I am the classic student to psychology and behaviour.
Surveys, polls, interviews are all helpful.
Organic Traffic converts higher and also drives the most traffic; if you are SEO savvy, have an excellent in-house team, or are using an SEO or Digital Expert or Agency then your traffic should be growing year on year.
Remember to work on your user experience when it comes to your website and its pages.
However, having a healthy mix of PPC complementing your SEO then you’re really onto a winner. Owning more of the first page for your targeted keywords should be your primary goal, as that generates more revenue. Regarding your brand, you should 100% be running a paid search campaign to own the top position.
Not only can we develop and execute an SEO strategy that will put you ahead of the competition with time – we can refine your PPC campaigns to make sure you’re bringing in profit while working your way up through the ranks. Want to learn more about how we can help your business grow? Contact us today!
Elaine and the team at Pickled Ginger