In business, conversion rates help monitor the success of a project or a business overall. A conversion rate of a business’s website is the percentage of website visitors that complete the desired goal over the total number of website visitors. Some great reasons to want to track conversion rates include:
- Predicts success or failure
- Saves money in the long run
- Improves website
- Creates customer loyalty
- Become more relevant on Google
- Quick pay-off
A successful conversion rate lands somewhere between 2 and 5 percent. Since tracking conversion rates and achieving this percentage are so important and useful when trying to improve business, how do you improve conversion rates? Improving conversion rates consists of a few steps:
- Make ads clean and appealing
- Make the most of landing pages
- Be creative with new ads and switch up landing pages
- Narrow down and find your audience
- Give customers a sense of FOMO
- Improve and update social media pages
In order to successfully track conversion rates it is essential to invest in tools to help you do so. Some popular tools include Google Analytics, Mixpanel, KissMetrics, CrazyEgg, and Intercom. Google Ads shared that about 57% of their user accounts have some sort of conversion rate tracking. This means that the other 43% of Google Ad accounts have no idea how successful their campaigns actually are.