- By Dasha Hyman
Conversion rate advertising allows businesses to use analytics to measure how their marketing strategy is working. Return on investment (ROI) is when you earn more than you invested. It is a wonderful feeling to know that the cost of promoting your services or products creates generous revenue. This article will discuss how improving your conversion rate will help you reach your profit goals.
What is a Conversion Rate?
Your business’ total sales have decreased, and your marketing has lost effectiveness. You may be frustrated and need help knowing where to increase your leads. There are strategies available that can help you improve your return on investment.
A conversion rate is a percentage that assesses if users take a desired call to action. Examples are email campaigns, direct messaging on social media, or product purchases. When a buyer is interested in your product and services, you want them to continue to engage with your content and buy what you are selling.
Why Conversion Rates are Crucial
Why bother with conversion rates? While conversion rate advertising is more work for your marketing department, knowing conversion rates can save your business time and money because you’ll know where to focus your marketing resources. The best outcome is giving consumers what they want. Conversion rates also assess performance and improvement, and understanding the effectiveness of digital marketing shows where to focus energy in marketing campaigns. Let’s get to the basics and determine your baseline so you can start improving today.
How to Measure the Success of Your Conversion Rate
There may be some cause for concern when calculating a conversion rate. Below is a simple formula to get a baseline of your analytics.
- Total number of conversions ÷ total number of clicks = Your conversion rate
- 20 people bought your product for the month ÷ 2,000 people viewed your product advertisement = 1%
There are also great tools online to measure your conversion rates at the click of a button. Optimizely is a platform you can install on your site. This tool allows you to make changes to your website without any coding. The conversion will display different versions on your site to show what is working for your business. Calculating the conversion rate is the first step to success. Now let’s learn ways to get those conversion rates higher.
Strategies to Improve Your Conversion Rate
What is a reasonable conversion rate? A conversion rate of 1% may cause some concern. Great website conversion rates vary from 2%-5%. Conversion rates calculated below the target goal show room for improvement. You can use the following strategies to increase your return on investment.
1. Change Your Offer for Your Call to Action
You should tailor your platform’s offer to people’s needs. Give consumers an offer they can’t refuse, such as an effective call to action. Make them want to explore your site so they can buy a service or product. Pain points are unmet needs waiting to be satisfied. For instance, when a business desperately needs a nurse content writer to produce healthcare content, they will go directly to Write RN. Nurse writers can provide precisely what marketing strategies healthcare companies are looking for. Addressing pain points allows you to provide the solutions your consumers seek.
2. Experiment With Your Website Design
Put on that thinking cap and experiment with your genius ideas. Everything consumers do on your page is a potential return on investment for you. No one likes a lot of confusion on a website. Asking clients for a lot of information, such as having them fill out multiple forms, will turn them away. In addition, making your platforms user-friendly on mobile devices will make them more manageable.
Try using high-quality, appealing designs and images that catch the eye. And testimonials are great for showing that products and services are worth purchasing. Your services are worth five stars, so don’t be afraid to show it!
3. Provide Great Content
Do you want your consumers to come to you first for the most reliable information? Providing content converts traffic into sales. When people dig deeper into your content, they want meaningful and high-quality information. They are seeking knowledge from someone with authority in the subject field. Google’s E-E-A-T acronym states that buyers want advice from leaders with experience and expertise. People want the information to be trustworthy.
For example, superheroes such as nurses have great experience in the healthcare field. Nurses provide quality content worth sharing because they are in the healthcare business. Buyers will trust your content because of nurses’ authority, experience, and expertise.
Unfortunately, users cannot always rely on content due to the poor quality and spread of misinformation. Hiring someone who is an expert in your field is a game changer.
With a few changes, your business can blow consumers away with everything you offer. Calculating the conversion rate improves the effectiveness of your company. After improving your conversion rate to meet your marketing benchmarks, buyers will flood your platform. You can then sit back and appreciate your success. Make these conversions to your marketing plan today!
References
Mail Chimp. (n.d.). Conversion Rate: What Is It & How to Calculate It. https://mailchimp.com/marketing-glossary/conversion-rates/
Optimizely. (n.d.). Conversion rate. https://www.optimizely.com/optimization-glossary/conversion-rate/ Word Stream. (n.d.). Conversion Rate: What Is a Conversion Rate?. https://www.wordstream.com/conversion-rate
About the Author
Dasha Hyman
Dasha Hyman has been a nurse for 8 years. She is currently a Certified Nurse Case Manager specializing in population health. Her passion is producing great quality content such as blogs and articles for Health care companies. Message her on Linkedin to grow your healthcare business.
