Conversion Rate

A conversion rate is the proportion of users that execute a certain activity. Conversion rates are derived by taking the entire number of users who 'convert' (for example, by clicking on an advertisement), dividing that amount by the total size of the audience, and converting that value to a percentage.

For instance, suppose a marketer conducts a mobile ad campaign on Facebook that reaches 20,000 individuals. A total of 1000 users have clicked on the ad out of those 20,000 persons. As a result, the total conversion rate for this campaign is as follows: 1000/20000 = 0.05, indicating a 5% conversion rate.

Any desired action that you want the user to do might be referred to as a conversion. This might range from just clicking a button to making a purchase and becoming a client. Many websites and applications have several conversion objectives, each with its own conversion rate.

The conversion rate demonstrates the efficacy of your campaign in relation to the campaign's aims. At the same time, it indicates if your campaign is having difficulty achieving the intended results. As a result, if you think of the campaign as a test, the Conversion Rate is the grade you earn. 

To be more explicit, boosting your conversion rate implies saving a significant amount of money for your company. Returning to the previous example, a 1000 reach results in a 5% conversion. Assuming the cost of this 1000 reach is ten thousand dollars, each conversion costs you $10. However, if you can grow the number of subscribers to 2000 individuals with your expertise, you will have achieved a 10% conversion rate. This implies that the cost of a single conversion has dropped to $5. As a result, conversion rate optimization is an excellent strategy for increasing profit at the same cost.

How to improve the e-Campaign conversion rate is a critical measure. There are a few ways we can try as follows: 

• Optimize website

Make accessing the website simple, neither time-consuming nor irritating. 

• Optimize product

Product information should be detailed, clear, and easy to understand, as well as appealing images.

• Improve buying experience

Be clear and truthful about products, pricing, and availability. Simplify the purchasing process, limit the number of steps required, and avoid entering too much information. 

• Improve customer experience

Customers will have more options if comparable goods with the same purpose or price range are shown below or next to them. Customers' motives and challenges may be surveyed and voted on directly on the website.

• Pay attention to the buy button (or CTA)

It should be large, clear, and visible.

• Make variety on payment

Multiple payment methods should be supported.

• Outline the service's benefits

Seniority, excellent customer service, preferred pricing, exclusive distribution, and free delivery.