The conversion rate is decisive and an essential metric in this age of Digital Marketing.
The primary motive of any business in online marketing is to convert maximum visitors of the website into paying customers. There are various parameters to be looked after while studying the conversion rate. Although in simpler words, a conversion can be any desired activity that brings a business closer to making a sale.
Now, it’s quite easy to get overwhelmed by metrics when getting started in digital marketing. While some just watch click-through rates (CTRs) and cost-per-click (CPC) to evaluate their return on investment (ROI), there’s undoubtedly much more to think of. At last, the whole point of digital marketing is to maximize conversions for the cheapest rate possible.
Why does the Conversion Rate matter?
While many businesses spend a considerable amount of money to increase their conversion rates, Ad campaigns can be the best way to boost profits, and it’s quite cheaper too.
Previously, advertising was not so complicated because it was just about terms like ‘advertisement, sales, sold, etc.’ but as most of the businesses have transitioned themselves digitally, advertising even played a very crucial role.
Advertisers were doing their work well, like pumping out ads and generating traffic for the business. But what blocked the conversion rate was an imbalanced advertising campaign. There were many problems faced by web users, as they were not landed on the product page, and they had to hunt for the offer they viewed on the ad. Hence, it became too important to look after the conversion rate, as the sales were not happening as predicted.
Top three reasons why conversion rates matter:
Conversion rates can predict success or failure:
Need to know whether the business is on the right track or not?
Conversion rates can put on a pretty honest assessment, especially after optimizing the campaigns.
Through the help of analytics reports, one can see which parts of the business are getting the most credible conversions. Hence they can even predict what type of audiences are likely to become the best customers. Similarly, weaker conversion rates reflect where the business strategy needs extra effort.
Better conversion rates can save money:
Campaigns with higher conversion rates are typically more profitable than drives with weaker conversion rates. A better conversion rate lets a business cover more ground, without increasing the ad budget, or else one can lessen the ad budget and have cash left over for experimenting with new marketing tactics.
Focusing on conversion rates will improve a website:
Developing an air-tight sales channel is the key to improve conversion rates.
A business’s campaigns, website, and sales processes need to be as in-sync as possible. As one learns which factors are most valuable for driving conversions on the website, they will eventually discover how to make the site more useful for visitors as well as for the customers.
Focusing and spending on conversion rates will work as an asset for the company, as it’s a long term investment.
Ways To Boost Conversion Rate:
After knowing the importance of conversion rate, the very next step is to take action to improve conversion rates.
Below given are six tips and tricks to improve your Ad campaign conversion rates:
Sharpen your ads.
This the very first step towards increasing conversions, nail your ad copy so that it stands out from the competition.
Optimize your landing pages.
Whatever offers you have displayed on your ad copy should be engaging, concise, and catchy. The sole purpose of the landing page is to excite the visitor regarding the product and services your offer.
Test new ad channels.
Try to create new ads by adding variations to your landing pages. Through this approach, you’ll see a drastic conversion!
Target your audience.
Thinking wide, every time can’t be fruitful. Target your consumer groups and try to reach out to them as much as possible. Through this, you can quickly boost your conversion rate.
Use FOMO/ Product scarcity to your advantage.
FOMO is fear of missing out, and so is the scarcity of the product. While advertising your product, try to display the shortages, like a count down clock, to create an added urgency. Here are some amazing techniques to use for FOMO.
Grow your social media.
Ask your visitors to follow the business on various social media sites like Facebook, Twitter, Instagram, and other accounts.
Also, if you have a strong social following, display the number of followers or the shares on your page as social proof.
How does the landing page affect the conversion rate?
A perfect landing page design will make or break a website because this is the first thing a visitor will see. If the landing page design is wrong, most people won’t hang to it.
Landing page designs should indicate the unique selling point (USP) of the product or the service of the business, and focus on one call to action (CTA). For example, getting the visitor to register their details or to make a purchase from the site.
Whatever the goal may be, it all depends on the design of the page to direct the user towards it, whether by the use of white space, contrasting colors, or more detailed directional guides.
Clear and concise headers, sub-headers, along with punchy bullet points, are the order of the day. The landing page should be prominently branded, often incorporated by a sharp image to convey the product or service at a single glance, and come straight to the point to avoid users’ attention drifting.
Hence, it’s quite challenging to build such a landing page, and for this, different graphic designing agencies provide unlimited graphic design services. Draftss is one among many who offer various graphic designing packages for small businesses.
Hence, conversion rates are immensely important while optimizing the ad campaigns. Through this, a business can learn about its consumer response and even work on making the company more profitable. The landing page also plays a very crucial role, therefore, paying attention while building a landing page is also very essential!