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!