What is a Good Conversion Rate? How to Improve My Conversion Rate on My Landing Page or Website

What is a Good Conversion Rate? How to Improve My Conversion Rate on My Landing Page or Website

Conversion Rate Optimization is all the rage these days. It’s practically becoming its own industry, as it should be since improving the conversion rate on your website basically means making more money from the traffic already visiting your website. However, not all conversions are the same and thus not all conversion rates are the same. In fact, far from it.

Simply put, there is no correct answer to the age-old question “what is a good conversion rate?” Mainly because a “conversion” can vary from website to website. Some websites count contact form submissions as conversions, some websites count clicks on a Sign Up button as conversions, some websites count views of a certain number of pages as conversions and so on. So in order to get an accurate comparison for the comparison of two different websites, the conversions need to be the exact same for each site.

Another issue is that simply because a website may have received more contact form submissions, it does not necessarily mean that those contact form submissions actually turn into sales. So just by seeing an increase in the conversion rate of contact form submissions may not convey into an increase in the conversion rate of actual sales. So depending on how long the sales process and lifecycle of the customer is, what makes a good conversion rate totally varies from industry to industry. For example, the mortgage industry may only need to see a conversion rate of 10% to see a positive ROI and the shipping industry may need a 5% conversion rate to generate a profit. There is simply no end all answer for every website.

That being said, I have seen several different industry averages that say an online conversion rate of 2-3% is considered average. So your goal should be to at least hit that average, but the ultimate goal is to go above and beyond that. And more importantly, you should strive to increase your conversion rate and sales each and every month no matter what your current conversion rate is!

Conversion Tracking Code Script for Google Analytics & Google AdWords

Conversion Tracking Code Script for Google Analytics & Google AdWords

This is just a quick post about how and where to install your conversion tracking code or script to begin tracking conversions on your website. Believe it or not, most people do not have a clue what a conversion is and why they should be tracking them. Below are some examples of things that could be counted as conversions on your website:

Other examples of “micro-conversions” that may be worth tracking:

Most of these can be tracked with Google Analytics and Google AdWords conversion tracking codes. Below are two handy links to get started with either of these:

How Does Google Analytics Conversion Tracking compare with Google AdWords Conversion Tracking? – http://www.google.com/support/analytics/bin/answer.py?hl=en&answer=55535

Guide to Setting Up Ecommerce Conversion Tracking in Google Analytics – http://code.google.com/apis/analytics/docs/tracking/gaTrackingEcommerce.html

Google AdWords Conversion Tracking Set Up Guide – http://adwords.google.com/support/aw/bin/answer.py?hl=en&answer=115794

Custom Lead Tracking Software & Qualified Lead Management Systems for Small Businesses

Custom Lead Tracking Software & Qualified Lead Management Systems for Small Businesses – The majority of the websites that I build for clients are not ecommerce websites with online stores to sell actual products, but rather lead generation websites where the visitor fills out a contact form on the webpage and it’s up to the client to follow up with the lead to continue the sales process. This is certainly nothing new, but there still remains a huge disconnect in terms of managing and tracking the quality of their leads.

The obvious initial solution would be for the visitor to submit the lead through the contact form, the lead gets inserted into a lead management database or CRM system for the client to keep the lead organized and follow up with the lead and update the status of the lead as they continue with the sales process. And if a lead converts into a sale for the business, then you can mark that lead as being qualified and analyze how to get more leads just like them.

The problem is that a lot of companies, especially small businesses, do not have access to a CRM system for a variety of reasons. First off, a lot of companies don’t even realize they need a lead management database or CRM. It’s as simple as that. They will just set up a contact form that submits the lead via an email to the client to follow up with at their convenience and assume that a lead came from a new radio commercial they were trying, when it turns out the lead came from a banner ad they placed on another website at a fraction of the cost. Without this data, you are essentially flying blind. And that’s never a good thing. 😛

Second off, a lot of them are often very expensive, costing in upwards of a couple hundred dollars a month or more. This may not sound like a lot of money to a business, but it actually is a big deterrent for small businesses with limited budgets.

Third, a lot of popular CRM software platforms and lead management database systems are quite complicated and can be very confusing. While they may be very powerful and have lots of great features, oftentimes the small business owner does not have the time or manpower to fully learn and manage their CRM to even decide if they like it or not, in addition to finding time to actually run their business.

All that being said, I am actually working on a custom lead management database & lead tracking system to cater specifically to the users I wrote about above. So stay tuned for details or if you’re interested in being a Beta tester or want any additional information, leave a comment below or email me at d0xcom[AT SYMB0L]gmail{d0t}com!

Google AdWords Enhanced CPC is Announced to Increase Conversions

Google AdWords just announced a new bidding option called Enhanced CPC, which will automatically adjust your Max Cost Per Clicks for keywords that historically generate conversions. Of course, you will need Google Conversion Tracking turned on, which you should have already had on in the first place. This is certainly an intriguing bidding option, but I would definitely be cautious about using it without exhaustively testing it simply because the more you let Google’s automated system control, 99% of the time it means the less targeted and less profitable the campaign will be. So I would certainly encourage trying it out, but I would definitely keep an eye on it. The video below explains more about the Enhanced CPC option: