To make your website more profitable, there are several performance indicators (KPIs) to follow. One of them is improving your conversion rate . It is all about getting more visitors to take action on your site.
Conversion rate: definition
The conversion rate of a site is the ratio between the number of visitors who have carried out a significant action (purchase, making contact) – we also speak of an objective, and the total number of visitors over a given period . We also talk about the conversion rate of a site.
In e-commerce, the conversion rate is the number of buyers divided by the number of visitors.
By calculating the conversion rate of your site, you check whether the different pages of your website manage to convince your visitors to take action and meet your goals.
Of course, you can have multiple goals and therefore multiple conversion rates to track.
Let’s take the example of an e-commerce site, if the ultimate indicator is the number of sales and you therefore absolutely need the sales conversion rate, you can also follow what is called micro-conversions in web marketing. such as adding to the cart or creating a customer account or subscribing to a newsletter.
These metrics are less important to you, but they are important steps in your sales process. It is therefore also interesting to follow them. They can also alert you to a possible problem in your sales funnel (if you have a lot of additions to the cart but few orders,
Calculation of the conversion rate
To calculate a conversion rate, you must first choose the period to be taken into account.
Take the example of an online store with 1,000 visitors per month, 100 additions to the cart and 20 orders.
The conversion rate is 20/1000 = 2%. For the “add to cart” micro-conversion, your rate is 100/1000 = 10%.
You can automatically obtain your conversion rates on Google Analytics by setting your goals there.
What is a good conversion rate?
There is no answer to this question.
A certain conversion rate may be acceptable in one industry while it is not good for another.
You need to compare your rate to that of your competition. You will find studies on the conversion rates of different sectors in France on the FEVAD website .
How to improve your conversion rate?
To improve your conversion rate, you have several options.
One of the easiest is to calculate the conversion rate for each traffic source and remove any sources that are not or under converting.
Simple, isn’t it?
Well no, because this way you fall into the classic trap of optimizing the conversion rate . Why ? Because by doing so, you will no longer have 1000 visitors per month but 600 or 500.
You have reached a conversion rate of 3% but you have also lowered your site traffic so with a monthly traffic of 600 people, you reach 18 orders (600 x 3%). You will therefore have lost 2 orders per month.
You can also tell yourself that to increase your income, you just need to increase traffic to your site . Let’s double the site traffic and we will double the turnover! Unfortunately this equation is often wrong.
Why ? Because it can only work if you attract additional traffic of the same quality and that is often complicated if not impossible.
To increase the conversion rate, you can finally work on the page landings of your site to achieve equivalent traffic to convince more visitors to take action : removal of blocking points, content optimization, responses to objections, etc. .
What you should remember:
The conversion rate is just one indicator of the health of your site. It is obviously necessary to try to improve it but without sacrificing the volume of visits which is essential for your business