Conversion Rate (CVR)

Visitors can also be replaced with clicks, impressions, or leads, depending on the desired action.

Let’s take a look at an example of how a marketer might calculate the conversion rate of people who visited a landing page versus people who signed up for the landing page’s offer. If 250 people visited a landing page promoting an marketing guide and 30 of those people submitted their information to get access to said trends report, the calculation would look like this:

This trends report promotional campaign generated a conversion rate of 12%.

2. Make processes easy

After determining what to track, simplify the path to conversion.

For example, if the main goal is to increase the number of people making a purchase on the e-commerce website, take a look at the checkout process.

Is the checkout process intuitive to customers? Does checkout require too many fields, is it confusing, or is it asking for unnecessary or irrelevant information? How could the business improve processes to move the customer from adding a product to the cart to completing a purchase? 

If a business wants to boost conversions, it’s essential to understand how customers convert and to make sure processes align with customer expectations and preferences.

3. Revisit positioning of CTAs

How a company positions their call-to-actions on landing pages is essential in improving conversion rates. 

If a company wants to boost conversion rates, it’s critical to review and test call-to-actions to determine if they are strong enough and clear.  If not, adjust the call-to-action so that it captures customers’ attention and motivates the right action.

4. A/B test or multivariate test

To learn which CTA is more compelling, which headline will resonate more with website visitors, or which video better explains the product or service, consider A/B testing or multivariate testing of different options.

A/B testing, also called split testing, is when a business takes an ad or landing page and create multiple versions to see which performs better. Multivariate testing, on the other hand, allows companies to test multiple data points that help identify multiple changes within a short period of time.

Implementing changes based on test results to improve the conversion rate is often referred to as conversion rate optimization (CRO) and is a common marketing practice to help improve overall ROI and profit in the business.