Is There A “Best” Best Conversion Rate?
We’ve heard the term “best conversion rate” thrown around. But what is it? And how do you know if your website has one? The best conversion rate is a conversion rate that can be measured against an industry benchmark and provides insight into how effective your website is at converting visitors to customers. If you don’t have a good idea of what yours looks like, read on for some helpful tips for measuring and improving your own!
How Is Conversion Rate Measured?
A conversion rate is measured by taking the number of conversions and dividing it by your total visitors. Conversions can be tracked using a variety of tools including Google Analytics, A/B testing software, or even manual calculations! Once you have an idea for how many sales are happening on your website per day, you can compare that to industry benchmarks in order to see where improvement might be necessary.
Best Conversion Rate: The best conversion rates will vary depending on what type of business you run (eCommerce vs B&M) but there are some commonalities across industries as well. For example, most retail businesses should aim for about three percent while lead generation websites need about 12%. Industrial goods companies may want their conversion rate somewhere between one and five percent.
Once you’ve determined your conversion rate, it’s time to take a look at what might be holding the number back! Some common reasons for lower conversion rates include poorly worded or confusing product descriptions; not enough info about how to buy on the website; poor customer service reps who can’t answer customer questions or don’t follow up with customers when they should. All of these are areas where an entrepreneur could do better in order to improve their conversion rate!
What Is The Best Conversion Rate?
There are no one-size-fits-all for conversion rates. Instead, it’s better to compare your own website against benchmarks that are relevant and tell you the type of experience visitors have on your site. Whether that number be three percent or 12%–it doesn’t matter as much as knowing what puts it there!
Tips For Improving Conversion Rate:
- Poorly worded product descriptions · Not enough information about how to buy online · Poor customer service reps who can’t answer questions or follow up when necessary. All these things may result in a lower conversion rate for your website.
- Compare your conversion rate with industry benchmarks to see where improvement may be necessary!
- If you’re looking for ways to improve conversions, consider using Google Analytics as a measurement tool (or any other available software). With this data in hand, it’ll be easier and more efficient to find patterns that need addressing–and they don’t have to come from the customer service department either! You can also manually calculate how many sales are happening on your site per day. Once you tally up those numbers, compare them against industry benchmarks of three percent or 12% depending on the type of business you run. Once again, these rates will vary by what type of product or service is being sold but there are some commonalities across industries.
- Just because you have a low conversion rate doesn’t mean that it’s not worth improving! If this is an area of your website where improvement might be necessary, take the time to review what might be holding it back. It could just be some easy fixes like poor product descriptions or unclear checkout process–or maybe even something more complicated and difficult such as customer service issues. Whichever avenue may apply to you, make sure that once identified, each issue can be addressed in order for best results!
The most important thing is that you know what your best conversion rate looks like—even if it isn’t perfect yet. Once you have this information, comparing yourself against industry benchmarks will help point out opportunities for improvement. These benchmarks can help you identify where your conversion rate is higher or lower than what’s considered “average”. If you’re not sure how to improve your numbers, our content marketing team has helped hundreds of businesses (including yours!) get their best conversion rates. Contact us here for a free consultation!
