Conversion is your ability to get people to buy things from your online store; it is the ability to turn site visitors into paying customers. It can also mean getting people who visit your store to take other actions that might lead to future sales, such as signing up for a newsletter, creating a wish list, or starting a free trial. A conversion rate can refer to any goal a marketer has, from the sale of a product to a lead form fill, newsletter subscription or free-trial software download.
There are all sorts of measures and important analytics when it comes to online stores. The three most common conversion rates that Balance Internet get asked about include:
- Online Advertising conversion rates (such as Google Adwords e.g. the number of times an advert is shown versus how often it is clicked).
- Landing Page conversion rates (the proportion of times a specific action is undertaken on a Page e.g. how often someone subscribes to a newsletter).
- eCommerce conversion rates (specifically the number of orders compared to the number of visitors).
Managing Director and eCommerce store owner James Horne said, “Before you invest in strategies to increase traffic to your site, you want to optimise your site for conversion. It is vital to evaluate your entire shopping experience and invest in site optimisation to ensure that future online store promotions actually improve conversion rates by meeting customers needs and standards.”
Conversion rates are an important measure of online stores sales, as well as a measure of how well your store is meeting your customer’s needs. Because so many factors can influence conversion rates, it is important to understand the varying methods a marketer can take to improve a conversion rate. Download your copy of Magento’s Ten Tips for Turning More Sites Visits into Sales- Increasing Conversion Rates today to help improve your customers shopping experience.