One of the important indicators to measure the effectiveness of a marketing campaign or business operation of a business is conversion rate or conversion rate. This is the factor that determines the ability to convert from potential customers to real customers. This affects the revenue and profit of the business. That is why marketers are always looking for ways to improve this indicator. In this article, Optimal Agency will suggest how to increase conversion rate in Marketing effectively. Check it out now!
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What is the conversion rate?
Conversion rate, abbreviated as CR or CRV, is the percentage of people who perform the desired conversion action that the business is pursuing out of the total number of users who access the marketing campaign. These actions can be purchases, newsletter subscriptions, form filling, … or any action that creates business results for the business.
This is an important factor in measuring the success of a marketing strategy. Not only is it an effective measurement index, but conversion rate is also an important tool to help businesses optimize their marketing strategies. By understanding and knowing how to increase the conversion rate in Marketing, it will contribute to the growth and development of the business.
How to increase conversion rate in Marketing
To calculate the conversion rate in Marketing, apply the following formula:
Conversion rate (%) = ( Number of conversions / Total number of contacts or interactions) x 100%.
Which, the number of conversions is the target action that the business wants customers to take such as signing up to receive newsletters, filling out forms, contacting by phone, buying products, etc.
The total number of contacts and interactions is the total number of interactions between the business and customers in marketing campaigns.
The conversion rate in marketing is influenced by many factors such as content, user experience, payment process, frequency and timing of exposure to advertising, marketing, etc.
The importance of Conversion rate in Marketing
Conversion rate is an index that helps businesses measure the effectiveness of marketing channels. Through it, businesses can identify the channels that attract and convert the most customers. Thanks to that, businesses can maximize marketing resources, optimize costs, and increase ROI to increase revenue and profit.
A high conversion rate leads to higher revenue because potential customers are converted into real customers. The number of orders increases, leading to increased sales, and improving business profits. This is why you need to know how to increase conversion rate in Marketing.
By analyzing conversion rates, businesses can better understand customer behavior as well as what factors determine customers’ purchasing behavior. As a result, businesses can adjust their marketing campaigns and customer experience accordingly to improve this index.
When the conversion rate is low, it can come from many reasons, mainly problems on the business website: unfriendly interface, complicated purchasing process, etc. By understanding these things, you can optimize these factors to improve user experience and increase conversion rates.
Attracting customers to visit a business website through marketing campaigns is not too difficult, but getting them to take interactive actions or make purchases is not easy. If the business website provides all the information they need and builds trust with customers, there will be a high conversion rate. Then the reputation of the business website increases and attracts more traffic to the website.
Top 8 how to increase conversion rate in Marketing
After understanding the importance of this index, let’s explore the following methods to increase conversion rate in Marketing:
Choose a clear goal
Before starting to implement any advertising or marketing campaign, you need to define the goals and results to achieve. Through researching the ideal conversion rate of the industry, setting a budget, and choosing a channel to implement. You need to choose a suitable and feasible goal for your business. From there, build an effective marketing campaign implementation plan while making it convenient to monitor and optimize the conversion rate index.
Identify the right target customer file
One of the methods to improve conversion rate in marketing is that you need to identify the right customer file. Take the time to research the target audience you want to reach by sketching a customer portrait through criteria: age, interests, gender, needs, goals, etc. This way, you can better understand the target audience, thereby knowing how to create appropriate promotional and marketing content to attract and interact with them to promote the conversion process.
Professional website design
A professionally designed website, providing full information about products and services not only creates a good impression with customers but also increases customer trust in the brand and contributes to improving conversion rates. Therefore, when designing a website, you need to pay attention to a clear layout and harmony in the use of colors as well as complying with SEO standards. To attract target customers, you should optimize the website interface, add contact information, build quality content, and add customer reviews and feedback to enhance your brand reputation.
Create engaging and quality content
You can easily attract target customers to visit your website but to promote interaction and conversion, the content you provide must be truly attractive and bring a lot of value to customers. Businesses should optimize content before posting to ensure the website works best. To create appropriate and useful content, you should research the needs and desires of customers. The content needs to meet the desires of customers and be presented clearly and easily understood. Don’t forget to add attractive offers to attract and motivate customers to take action to convert.
Create a convincing call to action (CTA)
CTA is the factor that guides customers to take the action that the business wants. Therefore, if you can create a clear and attractive CTA, it will motivate customers to make a purchase and help increase sales. When designing a CTA, you need to ensure that the call to action is short, easy to understand, and can persuade and guide customers to take specific actions. Regarding the location of the CTA, you should place it in visible locations with prominent colors to attract customers’ attention.
A/B testing
By performing A/B testing, you can test and compare the performance of different versions of a campaign or website. Through that, you can learn how to improve conversion rates, optimize user experience, and improve marketing effectiveness. When doing this, you first clearly define the specific goals you want to measure and then determine the elements to test: call to action, title, color, etc. During the testing process, you should regularly monitor and collect data on these 2 versions to make the right choice.
Simplify the purchase & payment process
If you want to optimize conversion rates in marketing, you need to pay attention to the purchase and payment process. This is the step that determines whether customers complete the transaction or not, so simplifying this process is essential to create a convenient experience. To simplify the purchase process, you should reduce some unnecessary steps, use diverse payment methods, display all costs that customers need to pay, provide online support, etc.
Focus on customer care
When you have a professional website with quality content, you need to build a dedicated and thoughtful sales and customer care team. By answering all customer questions during the shopping process quickly and promptly, you will gain customer trust and increase the conversion rate. To respond to customer questions quickly and retain them, use chatbots, live chat, etc.
We have shared useful information on how to increase conversion rate in Marketing. By applying these methods, you will have more quality potential customers to help increase the conversion rate to orders, increase sales, and maximize profits. At the Optimal Agency website, there is a lot of important information that will help readers, such as how to run ads using phone number files. Find out today, don’t miss out.
Please refer to:
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Frequently asked questions
Depending on the industry, the type of conversion and the specific marketing goals will be different. However, a conversion rate of 2 – 5% is considered good in most industries. For e-commerce websites, the conversion rate will fall between 2.5 – 3%. For growing businesses, they always aim for a higher conversion rate of 10% or more.
In marketing, a high conversion rate is what businesses always want. However, this needs to be considered in the context of ROI or return on investment. According to many studies, businesses pursue conversion rate goals by discounting and promoting, leading to a decrease in actual profits. Therefore, instead of focusing too much on conversion rate, businesses should ensure that optimizing conversion rate also goes hand in hand with optimizing profits.
