Post by bristi124 on Nov 4, 2024 11:22:29 GMT 2
If you’re just starting a new business, you know there’s still a lot to learn. You’ll need to understand everything from search engine optimization to customer service. And that includes knowing what a sales conversion rate is.
While all the elements involved in running a small business are important, some are more important than others. And without a doubt, one of the essential concepts to off page seo service guide your business’ strategic planning is your website’s conversion rate.
This metric is a favorite in any commercial sector, as it is through it that the company has objective and concrete numbers of how many sales were made in a given period.
Did you know, for example, that 11% is the conversion rate of websites with the best performance in online sales , according to RankTracker ?
But what does this number really mean? How do you calculate a website’s conversion rate? How important is this metric for a company’s strategic and operational efficiency?
In this guide, we’ll go over the basics of rates, including what they are, how you can track them, and how to improve them. Read on to the end!
What is sales conversion rate?
Simply put, conversion rate is the percentage of visitors to your website who make a purchase. To give a basic example, if 100 people visit your website and two of them make a purchase from you, your conversion rate would be 2%.
In practice, things get more complicated. For example, if your website sells multiple products and you have multiple product pages, you’ll be interested in the conversion rate of each of those pages, along with the conversion rate of your website as a whole.
There’s also the issue of timing. Your conversion rate one day may be very different from your conversion rate the next day, especially if you have a relatively small number of visitors to your site.
Therefore, it makes sense to track your rate over different periods of time so that you have a more complete picture of what is happening.
This way, you can notice patterns and trends according to the hour, day, week, month and even time of year to strengthen your planning and be prepared for demand.
What is lead conversion rate?
In addition to the sales conversion rate, there is also the lead conversion rate. And what are leads ? They are potential customers. In other words, they are consumers who have shown some interest in becoming your customer and have advanced through the first stages of the sales funnel.
A lead generally agrees to provide their data to receive email marketing communications , via phone call or WhatsApp.
Therefore, when a potential consumer subscribes to a newsletter, provides their personal data to download rich material, such as an ebook, or registers on your website, they can be taken into account when calculating the conversion rate for leads.
While all the elements involved in running a small business are important, some are more important than others. And without a doubt, one of the essential concepts to off page seo service guide your business’ strategic planning is your website’s conversion rate.
This metric is a favorite in any commercial sector, as it is through it that the company has objective and concrete numbers of how many sales were made in a given period.
Did you know, for example, that 11% is the conversion rate of websites with the best performance in online sales , according to RankTracker ?
But what does this number really mean? How do you calculate a website’s conversion rate? How important is this metric for a company’s strategic and operational efficiency?
In this guide, we’ll go over the basics of rates, including what they are, how you can track them, and how to improve them. Read on to the end!
What is sales conversion rate?
Simply put, conversion rate is the percentage of visitors to your website who make a purchase. To give a basic example, if 100 people visit your website and two of them make a purchase from you, your conversion rate would be 2%.
In practice, things get more complicated. For example, if your website sells multiple products and you have multiple product pages, you’ll be interested in the conversion rate of each of those pages, along with the conversion rate of your website as a whole.
There’s also the issue of timing. Your conversion rate one day may be very different from your conversion rate the next day, especially if you have a relatively small number of visitors to your site.
Therefore, it makes sense to track your rate over different periods of time so that you have a more complete picture of what is happening.
This way, you can notice patterns and trends according to the hour, day, week, month and even time of year to strengthen your planning and be prepared for demand.
What is lead conversion rate?
In addition to the sales conversion rate, there is also the lead conversion rate. And what are leads ? They are potential customers. In other words, they are consumers who have shown some interest in becoming your customer and have advanced through the first stages of the sales funnel.
A lead generally agrees to provide their data to receive email marketing communications , via phone call or WhatsApp.
Therefore, when a potential consumer subscribes to a newsletter, provides their personal data to download rich material, such as an ebook, or registers on your website, they can be taken into account when calculating the conversion rate for leads.