What is conversion rate? Understand the meaning of conversion rate
Before talking about the conversion rate, we must first know “what is a conversion” conversion means: switching in different situations; therefore, the conversion rate refers to the rate at which each person switches successfully in different situations. When you enter a website from a search engine (Google), when you browse a product to complete a purchase, see a QR code scanned to an online store, or even switch between pages, it is a conversion.
Taking a physical store as an example, a series of different behavioral states of a customer from getting the flyer, entering the store, putting the product in the shopping basket, and checking out at the counter are transformations, and this is also the process of the conversion rate. So the conversion rate is actually not only the purchase conversion we often hear, but also the inbound conversion rate, the conversion rate between pages, and the entity-online conversion rate, so we should not only focus on the final purchase conversion rate, other conversion rates are also very important!
After talking about the conversion between online and physical, we can find a very important thing. The conversion usually forms a series of funnel events, as shown in the figure below. Every link on the funnel is the reason for the conversion and also affects the conversion. The main factors, let’s split the links of several funnels to see.
Three points in time when transition will occur
External search into website
Users may enter the website from search engines, fan pages, EDM, QR code, etc. Let’s start with the search engine. Assuming your SEO is doing well, you can enter the first page of search results (if you haven’t done SEO yet, it’s still too late to find awoo), and it’s successfully seen by users, but why do users want to see it? into your website? The key to this node is ranking, copywriting and description. For details, please refer to How to write Meta Title Description? , I won’t go into details here.
between pages
There are many factors involved in this aspect. Sometimes your content has provided a solution, so users leave your website after reading it. It’s not that your website is not good, it’s probably just that there is nothing more attractive to him at the moment. content, or the user has no time to continue reading, so leave your page. Under normal circumstances, the opportunity for the user to continue reading between pages is the content that attracts him, that is, the related articles and product recommendations we often see.
Shopping cart and checkout
The shopping cart and checkout are the most direct pain for all e-commerce practitioners. Seeing that users have put several items into the shopping cart, but they don’t know why they give up buying, it’s like the meat flying away from the mouth . There is a large part of the reason here. It is very likely that the checkout process is too complicated, causing customers to give up. Some checkout methods are like filling in a bunch of information like opening a bank account, so that users have to give up. In addition, some reasons may be that the user suddenly left for something and forgot to come back to check out. In order to solve this situation, we will use remarketing to remind the user.
Three Factors Affecting Conversion Rates
Most of the previous sections were examples, and we mentioned the reasons why conversions fail. Now we will talk about the more microscopic parts, some of which involve a little psychology.
user experience
From the previous point, a web page that has to fill in a lot of information will make people very impatient, but not only this will affect the user experience, but there are many reasons that affect the user experience and even make them leave, such as the speed of the web page Too slow, too complicated page information, ugly color scheme, insecure website (no SSL certificate), etc., these sometimes even seriously affect a company’s brand.
Many stores often don’t understand why the conversion rate of their own website has been very low. An important point may be that the brand power is not enough, which leads to users not having enough trust in your content and products. If you are a friend with insufficient brand power, remember to start with “managing high-quality content” first, find out user needs, and find out from the customer service department what the most complained about is, whether it may be a pain point, or every time The page that the user often browses will jump out. Is it because the page does not provide enough valuable content to help the user solve the problem.
CTA
Call to action (action call to action), sometimes the customer already wants to buy, but due to various reasons, so hesitant, then you need to give him a call to action button! Usually, the CTA button has a strong contrast in color. Different fonts and button colors will have different conversion results. It is recommended to test it!
Maybe you find that some of the previous cases are not applicable to your website, or it seems that they are not suitable for your website. Please also remember a mantra: “Between conversion and conversion, increase thrust and reduce resistance.” Brand awareness, Good UX, customer testimonials, a landing page that hits the pain point, limited-time special offers, cheap plus price purchases, simplified shopping process, and online customer service can all be the driving force for improving conversions.
On the other hand, complex pages, websites that lack security, scam messages popping up, long website loading time, negative reviews, cash flow security, etc., may all be obstacles to conversion failure, and you will continue to struggle between your controllable ranges. The only way to effectively increase the conversion rate is to increase the boost and reduce the resistance.
Pay attention to the conversion rate of the website to increase the proportion of revenue for the enterprise
Anyone who runs an e-commerce business should know this formula: “Revenue = traffic x conversion rate x customer unit price”
Conversion rate is one of the three cores that affect revenue. We have seen many business owners, and even early marketers, focus on “traffic”, but ignore the conversion rate that really brings revenue. . The advancement of website data tracking technology can help business owners understand every process and behavior of users on the website in more detail, such as the current Google Analytics, Facebook pixel, Google Optimize, hotjar, etc.
In the past, it was difficult for us to know who the users who came to the website were and how long they stayed on the website, but now Fb Pixel can capture audiences with different interests, which pages they have visited, and who are similar people; hotjar can clearly see To every user’s mouse trail; Google Analytics clearly shows every footprint they leave on the website. The user’s behavior path after entering the website becomes clear at a glance, so we should make good use of the existing tools to improve the conversion process of the entire marketing funnel.
Traffic and customer unit price are mostly determined by the beginning and end of the funnel. The experience of the conversion process indirectly affects the user’s brand impression, trust and willingness to repurchase. We mentioned above: the most important thing in the conversion is to increase the boost and reduce the resistance. A large part of it is to increase the trust of customers in you. After all, the cost of developing a new customer is 6 times that of an old customer, 6 times! Therefore, if the conversion is done well, firstly, it will reduce the cost of developing new customers, and secondly, it will increase the chance of becoming a customer after the first trial. Why not do it?
4 Things You Should Know About Improving Your Conversion Rate
Not only purchase conversion rate is important
After reading so many previous explanations, you must know that conversion is a combination of many details and scenes, not just the final purchase conversion, but also page-to-page conversion, shopping cart conversion, etc.
Establishment target
The conversion rate is not blindly set, but you set the expected goals and tracking methods for each scene you split, and then quantify your goals in a way similar to the smart law. When the conversion rate of each link reaches the threshold, the overall The conversion rate will effectively increase. There is a question called “how to increase turnover.” Many people’s answer is “earn more”, but this is a completely useless answer. We should find out what is the split of the turnover, what are the online and offline channels, and whether the insufficient turnover is due to the influence of the channel or the platform. A complete and clear split of the goals is the key to a good conversion rate.
Fixes and Tests
After setting the goal, the most important thing is to constantly test and modify until the result is the best. You can test copywriting, test pictures, test different audiences, test CTA buttons, and even website layouts, but remember that the test must have a clear comparison benchmark, control a variable, and avoid changing the picture and the CTA button at the same time, so that you will actually It is not known which variable has the greatest impact.
High and low conversion rates
One of the most frequently asked questions is, what is the conversion rate? Is the conversion rate as high as possible? The answer is not necessarily.
Friends who have placed advertisements will definitely find specific copywriting (killing headlines), sensational pictures (fishy, violent), and specific audiences. fell to the bottom. Because the audience may not be the right audience. Luxury goods have a high inbound conversion rate for ordinary people, but low purchase conversion rate, and may have low inbound conversion rate for rich people, but high purchase conversion rate; the copywriting and pictures may not be suitable. Why do you say “content” Is king”, if your copywriting pictures are too sensational but the content is disappointing, it is likely to damage your brand reputation and customer trust in you. So a high conversion rate must be good? NoNoNo, the important thing is whether you have put a small goal and a measuring ruler at each stage.
