What is a conversion rate? A conversion rate means the rate at which website visitors are completing a specific action on your website. That action, or “conversion,” is set by the website owner. A good conversion rate is based on your industry, website, and bottom line.
Conversions might be clicking a phone number to call you, filling out a contact form, making a purchase, downloading an asset, clicking to email you, spending a specific amount of time on a page, or watching a video. Conversions are unique to your website and can be a wide variety of actions. Your conversion rate is the percentage of times your conversion happens out of how many visitors you had.
OK, great, so that’s a conversion rate. But what makes a good conversion rate?
What’s a good conversion rate?
First of all, it’s important to note that “good” is a subjective word, and what’s good for one website or industry might not be good for another. There are a large number of factors here that determine what a good conversion rate is. However, there are some standards here that we can take a look at.
Good PPC conversion rates
If you’re running ads, you’re probably (hopefully) paying close attention to your conversion rates, because you’re paying for that traffic. According to WordStream, the average Google Ads conversion rate is 3.75 percent.
Now if you’re sitting at less than that, that doesn’t necessarily mean you’re doing poorly. Different industries have different benchmarks, and they also really differ across conversion types.
For instance, if your campaign centers around getting people to download a report from which you gain their contact information, that might be an “easier” conversion than getting someone to sign up for a demo or a phone call.
If you’re running campaigns for both of those, you might decide that a lower conversion rate for the demo is “good” even if it’s less than the download, because each conversion is more valuable. It’s all subjective based on your unique goals.
Try these tactics to improve your PPC conversion rates:
Update your targeted audience.
Run A/B testing on your landing page design.
Run ads at different times.
Good landing page conversion rates
According to Unbounce’s Conversion Benchmark Report from 2020, “the median conversion rate for all the landing pages we analyzed is 3.2 percent.”
Once again, though, the conversion rate varies widely by industry. Catering and restaurants enjoyed a median rate of just over 6 percent, while agencies struggled with 1.7 percent.
Landing pages vary so widely, with so many different possible conversions. That makes it pretty difficult to define a “good” rate for anyone who might be reading this article!
Again, just like PPC conversion rates, how you define “good” is unique to your business and your website. If you’re working to improve it, then you’re going in the right direction, no matter what your current rate is.
Try these tactics to improve your landing page conversion rates:
Run A/B testing on your landing page design.
Add or remove landing page copy.
Adjust your targeting, either in different places or to different people.
Tweak your value proposition.
Reevaluate your customer journey.
Overall, you need to decide how you define a “good” conversion rate based on your industry, your website, and your bottom line. Use data to inform your number. Take industry benchmarks into account, but don’t base your number on those alone.
Try something, and if it doesn’t work, change and improve it. Maybe “good” to you just means constantly under improvement.Overall, you need to decide how you define a 'good' conversion rate based on your industry, website, and bottom line. #internetmarketing #webmarketing Click To Tweet
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