In the case of any online search strategy, the critical factor is conversion. At the end of everything, if people are not buying and just looking around, it makes no sense. After all, what is the advertisement all about then? Optimization of the conversion rate helps maximize every cent of the fund spent finding that sweet spot to convince the majority of the prospect to take action.
However, most people still do not understand what constitutes a good conversion rate. Is a conversion rate of 3 or 5 or 10 percent good enough? So, what constitutes a good conversion rate. Across the various industry sectors, the average conversion rate stands at little more than 2 per cent. However, the top one-fourth are converting at more than 5 per cent. Ideally, everyone aspires to bring things up to the level of 10 per cent or higher.
Brainvire a leading provider of eCommerce SEO showcase an analysis involving more than a thousand samples has revealed that there are people who have converted at the rate of twice and even thrice. So, basically, it is a personal choice whether a business wants to be an average performer or would like to do better than the rest of the others.
A thorough analysis of the data related to conversion rates and landing pages has led to some common traits of the top converting pages. So, the question is what is it that some have that others don’t have. For this, the following need to be understood:
Silly Conventional Wisdom Around Conversion Rate
It won’t be wrong to say that the experts people have been listening to so far were incorrect to a great extent. It is something like realizing that mascots are not real. Below the fluffy suit, there is an ordinary guy who is unshaven and sweaty. Conversion rate is the same. On the top, things appear to be quite pretty and shiny but devoid of any substance underneath. So, what’s the reason that everybody continues to be going along with the same thing? It’s simple. If people keep singing the same song as everyone else, things can never get better than average.
The usual picture that an expert advises changing the colour of a button of the characters’ spacing or an image and the conversion rate shoots up by more than 5 per cent. Well, these are basics that are on-going. The actual changes are in the form of single digit small changes, not something that will shoot up to 10 per cent in one go. Experts suggest that the trick is to move past the increases lasting for just a few days or weeks. Overall, it’s all about avoiding to move the chairs around and focus on landing page optimization. Most people make the mistake of focusing more on doing small things that have little or no impact. It is important to go for the big acts that can help change the fortune and the performance.
Good Conversion Rate
Based on trend and analysis, a good conversion is something between 2 and 5 per cent. In case the current rate is 2 percent, an upgrade to 4 percent is definitely a good jump. But, it is still in the average performance bucket. The conversion can be as high as 11.45 per cent, and it is possible to attain it if the conversion rate is 5 percent. It suggests that you are out-performing 75 per cent of the other advertisers. And, there is still a lot of room to grow further.
The conversion rate can shoot up to almost 20 per cent or even more than that. It needs to be understood that the conversion rate varies to a lot of extent, depending on the industry. Research suggests that E-Commerce conversion rates are comparatively less when compared to finance. The other way round, it also suggests that if you are in the finance industry, a conversion of 5 per cent is an under-performance.
Nevertheless, here are a few tips to reach the landing page easily:
Changing The Offer:
Offer something to the prospects which are outside the box. It makes a difference by offering something unique. It is compelling or imaginative or tangible and compelling enough rather than just a free trial or offer.
Changing The flow:
Changing the flow helps a lot to boost conversions. It helps to manage the lead quality effectively. It not only helps to convert but also helps to nurture the leads properly.
Use Of Re-Marketing:
More than 95 percent of people visiting a web site leave without getting converted. Re-marketing helps to get in touch again with relevant messages through alternate channels.
Therefore, the key takeaway is landing page optimization is essential for a high rate of conversion. At the same time, get creative when it comes to offers. Identify the road-blocks and accordingly find a way out by altering the flow and remarketing to get hold of interested people but did not convert.