Likes on Instagram are great. Facebook followers are cool. Clicks on your product page are cool. But none of that means anything if these people do n’t somehow convert . But what is a conversion rate, exactly, and how do you calculate it for your own business? Let’s go into all the details.
What is the conversion rate?
When we say “conversion rate” it can mean a number of things. However, on a very broad level, when marketers talk about conversion rate, it refers to India Phone Number List of users who took the desired action divided by the total number of users. You multiply that number by 100 to get the percentage.
As we said, a conversion can refer to many different things, but here are some common examples: Conversions can be applied in countless ways. For example, let’s say we’re talking about your SEO conversion rate. Maybe you have a page ranked third in the Google SERPs and the page is now getting 50 clicks/visits per month. On this page you have a form where people can sign up for your newsletter, which gets 10 signups per month. Our conversion rate, in this case, is 20%.
It is important to note that the conversion rate does not only refer to sales/revenue. There are endless types of conversions. You might be looking at how many website visitors convert to email signups or how many Instagram followers convert to link clicks in your bio. The thing is, a conversion means the user has taken some sort of predefined action that has value for the business.
Why should you care about conversion rates
Excellent question! As we mentioned earlier, looking at metrics like social media post likes, number of followers, and link clicks is a good start, but it doesn’t tell nearly the whole story.
Consider an extreme example. Say you have a page on your website ranked first on Google, the most coveted place. This should be a huge win for you. You get 300 clicks from the SERP…but no one who landed on the page clicked the free trial button to test your product. Which give?