There's hardly anything more valuable than the analysis of conversion rate when it comes to efficient marketing. The word "conversion" here refers to a user resorting to the goal you have set for them on your website.
To that end, the conversion rate accounts for the percentage of the users on your platform who commit to the desired action (Or simply, Convert). Obviously, the higher the conversion rate, the better your chances of achieving your business goal.
That's precisely why marketers incline more towards optimizing their website to facilitate higher conversions.
Now that you know the importance of conversion rate estimation, it's time for you to do the Math. Or instead, let us do it for you with our ergonomic conversion rate calculator.
A conversion rate calculator from Marketing Cheats allows you to estimate the percentage of conversions instantly. Remember, the definition of a "conversion" can vary.
For instance, from a sales perspective, a purchase will define a conversion. Alternatively, for an informative website, subscribing to the newsletter will specify the same.
So, once you define the desired "conversion" for your website, our conversion rate calculator will help you determine the percentage of conversions being made.
It's all about gathering valuable insights into your marketing endeavors. This calculator facilitates just that. In other words, after monitoring the conversion rates, you can:
In simple words, you can achieve a host of things from the simple knowledge of conversion rate.
Try out our conversion rate tool and let us know how it has helped your business. We'll be happy to hear out from you.
Everything considered, the crux of the matter is to employ an ideal strategy for the calculation. For that reason, we observe a straightforward but effective conversion rate formula.
Conversion Rate = Total Conversions / Total Clicks * 100
Important Note: The conversion rate formula can have a distinct set of metrics. For instance, "clicks" in the above formula can be replaced by "sessions," "impressions," "interactions," or even the "number of leads." As long as you know the difference between all of these, everything's fine. That's because you have to identify them separately to fill their count in the calculator as per your objective.
Is there anything better than an implementable example to define this subject? We'll tell you — there's not. That's precisely why we think that the following example will clear all your doubts about the conversion rates and their estimations.
Mr. XYZ launched his website for the sole purpose of selling his LinkedIn Posting Guide. He created ads on Google for the landing pages and received approximately 250,000 visitors in the very first month. Out of these visitors, 6000 users bought his guide.
In the second month of his campaign strategy, his platform received 220,000 visitors with 4000, ultimately purchasing the guide. Mr. XYZ wanted to know whether his business was progressing, so he thought of comparing the two months' conversion rates.
But he didn't know how to calculate the conversion percentage. Therefore, he used the Marketing Cheats calculator.
After this assessment, Mr. XYZ had a clear view of his business's progression.
Conversions are everything and you must have a fair bit idea about it now. In that light, knowing when to use the calculator is as important as knowing the advantages that come along. The tracking of numbers is integral to the marketing strategy. For that reason, monitoring the conversion rate at definite intervals is imperative.
Because the knowledge of conversion percentage provides an insight into the pitfalls, you always have the opportunity to improve and innovate your marketing efforts. These improvements can pave the way for high-converting funnels. Since you have control over these results, you can be consistent in your delivery once you reach the safe space.
That's quite obvious, isn't it? When the information about what/what's not working is with you, you have all the opportunities to brainstorm how you can optimize your marketing funnel. For instance, conversions might be falling due to a non-interactive user interface design. Alternatively, conversions might be increasing due to quality landing page experience. So, it's all about how you perceive it. Nevertheless, you must know what the conversion percentage is.
Just to let you recall, the definition of “conversion” can vary as per your objectives. That said, calculating the conversion rate is fairly straightforward.
Just note down the number of conversions (or your desired conversion metric) and the associated overall impressions (or sessions/interactions).
Head over to the calculator, fill the information in the required fields, and press "Result." That's it. Enjoy!
Conventional wisdom might contend that anything above 2% is a good conversion rate. But is it? Even if your conversions are a little higher than 2%, there's still ample scope for improvement.
Research reveals that the top 10% of the advertisers on Google have a conversion rate in excess of 11%. In other words, there's just no limit to what you can achieve with effective campaigns. Just be on your toes and keep monitoring your conversion rate.
You can test numerous things, from optimizing your Google Ads campaigns to strengthening your landing page copy. You can even invest incompetent professionals for high-quality UI/UX and swift site speed. All these aspects contribute to a reduced bounce rate and an increase in the number of purchases.
Short answer — Yes. Although adopting any of these doesn't have an influence on the money you earn, you must know the difference.
For example, your campaign creates 5,000 sessions with 80 users converting. The conversion rate, in this case, will be 1.6%.
For the same campaign, consider that 3,000 users created the aforementioned sessions with the same number (80) of conversions. The conversion rate, in this case, will be 2.6%.
So, you can choose between them as you deem feasible.