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How to increase conversion rate
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Conversion marketing domination:
You're missing out on money every day1, 2. Seal your conversion leaks!
Optimize your flows with 270+ proven conversion tactics for profitable growth. With these filterable and searchable conversion optimization "growth hacks"[1], it's hard to not significantly boost your conversion rates.
Access the Multi-Strategy Conversion growth marketing database; 270+ tested and proven tactics for increased conversion rates and growth.
WHAT YOU GET
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With a higher conversion rate, you increase your revenue without needing to acquire more visitors or leads.
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With our Multi-Strategy Conversion growth marketing database – comprising proven, A/B tested tactics – you can enhance your conversion without hiring new staff or consultants.
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You gain instant access to the growth marketing database through an easy-to-use web interface (no prior knowledge required).
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Previously exclusive to our consulting clients – now, we're testing opening up to a broader audience for a limited time.
Access this repository of growth wisdom – today. Position yourself at the forefront of conversion marketing mastery. The power to revolutionize your growth trajectory lies within your grasp. My advice to you is simple: Seize this opportunity to turn every click into an avenue of prosperity. Welcome to the future of conversion optimization.
High converting sales funnels
The AARRR model[2], also known as Pirate Metrics, is a framework for identifying and influencing business-critical user behaviors that drive growth and profitability. AARRR stands for Acquisition, Activation, Revenue, Retention, and Referral3.
Startups worldwide have used this framework for years to understand their position on the growth path and which specific funnel steps need optimization.
At Rocket Toolkit, we've built our databases around this architecture because it's simple and highly effective in practice.
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+ ACQUISITION +
#####################
-> Acquisition determines the funnel size in terms of users
-> "How do we find more users?"
1) The most basic thing here is to understand where to get visibility and to be able to get a response to the visibility
2) Once you reach visibility and you see an initial response - make sure the quality of the response and the target audience are aligned with your requirements
3) Make sure you have a significant and scalable, addressable audience of customers or users
+ ACTIVATION +
#####################
-> Activation is the upstream bottleneck
-> "How do we convert users to leads?"
1) This is about finding an offer and shaping marketing messages that solve a tangible problem for a user
2) The faster and better you can communicate the value of solving the problem to users, the faster you can activate them
3) Their first impression is the lasting impression, so creating an experience where you can deliver value and solve the problem quickly is critical
+ REVENUE +
#####################
-> Revenue determines the funnel size in terms of dollars and cents
-> "How do we convert leads into high-profit paying customers?"
1) Offer premium products or services that add value to your leads, free users or subscribers they would be willing to pay for
2) Identify additional pain points where added value can be created beyond what you already do for your existing customers
3) How to upgrade and upsell customers who purchased an entry-level product or service of yours, but has the potential to become an even more profitable customer
+ RETENTION +
#####################
-> Retention is the downstream bottleneck
-> "How many of your customers are you keeping, and why are you losing the others?"
1) What do we do to make customers stay longer with their subscription, or become a repeat customer in your e-com store?
2) Identify which triggers are not only keeping your customer longer, but also makes the customer continue to spend more
3) How to dig deeper into solving customer problems while creating added value, so that the customer wants to stay longer and spend more money on your products and services
+ REFERRAL +
#####################
-> Referral or recommendations are the icing on the cake
-> "How can you turn your customers into your ambassadors?"
1) Which of your customers are the ones that would be most ideal to represent your brand and get more customers through the door?
2) Which activities would be triggers? It takes an incentive to get customers to act on your behalf and bring you more customers
3) How to get customers to act - not only to get you a single new customer - but also to promote your brand and make you look good and get plenty of new customers
++ ACQUISITION ++
####################
-> Acquisition determines the funnel size in terms of users
-> "How do we find more users?"
1) The most basic thing here is to understand where to get visibility and to be able to get a response to the visibility
2) Once you reach visibility and you see an initial response - make sure the quality of the response and the target audience are aligned with your requirements
3) Make sure you have a significant and scalable, addressable audience of customers or users
++ ACTIVATION ++
####################
-> Activation is the upstream bottleneck
-> "How do we convert users to leads?"
1) This is about finding an offer and shaping marketing messages that solve a tangible problem for a user
2) The faster and better you can communicate the value of solving the problem to users, the faster you can activate them
3) Their first impression is the lasting impression, so creating an experience where you can deliver value and solve the problem quickly is critical
++ REVENUE ++
####################
-> Revenue determines the funnel size in terms of dollars and cents
-> "How do we convert leads into high-profit paying customers?"
1) Offer premium products or services that add value to your leads, free users or subscribers they would be willing to pay for
2) Identify additional pain points where added value can be created beyond what you already do for your existing customers
3) How to upgrade and upsell customers who purchased an entry-level product or service of yours, but has the potential to become an even more profitable customer
++ RETENTION ++
####################
-> Retention is the downstream bottleneck
-> "How many of your customers are you keeping, and why are you losing the others?"
1) What do we do to make customers stay longer with their subscription, or become a repeat customer in your e-com store?
2) Identify which triggers are not only keeping your customer longer, but also makes the customer continue to spend more
3) How to dig deeper into solving customer problems while creating added value, so that the customer wants to stay longer and spend more money on your products and services
++ REFERRAL ++
####################
-> Referral or recommendations are the icing on the cake
-> "How can you turn your customers into your ambassadors?"
1) Which of your customers are the ones that would be most ideal to represent your brand and get more customers through the door?
2) Which activities would be triggers? It takes an incentive to get customers to act on your behalf and bring you more customers
3) How to get customers to act - not only to get you a single new customer - but also to promote your brand and make you look good and get plenty of new customers
Conversion rate optimization
In the ever-evolving realm of digital commerce, mastering Conversion Rate Optimization (CRO)[3] is the golden key to unlocking unprecedented growth and profitability. In a landscape where every click holds the potential for revenue, comprehending the nuances of a good conversion rate and employing potent strategies is paramount.
This comprehensive guide delves deep into the intricacies of CRO, providing a wealth of insights, actionable tips, and a meticulously detailed example of a step-by-step conversion strategy.
Brace yourself for an exploration that merges data-driven insights with human-centric wisdom, guaranteeing a surprisingly well-researched and impactful journey.
Conversion rate optimisation decoded
Before embarking on a journey through optimization strategies, it's vital to decode the essence of conversion rates. A conversion materializes when a user completes a desired action – be it making a purchase, subscribing to a newsletter, or filling out a form. Computing your conversion rate entails dividing the total number of conversions by the aggregate number of visitors, rendering a pivotal metric that gauges the prowess of your digital storefront.
What is a good conversion rate
A good conversion rate is between 2-5%4, but the conversion rate varies greatly between industry and channel[4]. For example, you can expect a much higher conversion rate from your purchased Google Search ads than from, for example, display banners or from social media.
While cost per lead measures how much you spent to get someone who clicked on your ad to contact you in some way, the conversion rate tells you how many people who clicked on your ad actually converted.
In a dataset from LOCALiQ5 [5], they found that the average conversion rate on purchased Google Search traffic across all industries was 8.82%, with 3.25% being the lowest and 19.19% being the highest.
Industries with the highest conversion rates were Animals & Pets (19.19%), Doctors & Surgeons (19.15%) and Auto Repair, Service & Parts (15.23%).
The industries with the lowest conversion rates were Furniture & interior design (3.25%), Clothing/fashion & jewelry (3.6%) and Real estate (3.93%).
It is worth remembering that the most well-known brands in a specific industry usually have a higher conversion rate6.
If you are a smaller and relatively newly established player on the market, the conversion rate will be lower.
| Industry | Conversion rate, Google Search Ads (CR) | Click-through rate (CTR) | Cost per click (CPC/PPC), USD | Cost per lead (CPL/PPL/CPA), USD |
|---|---|---|---|---|
| Arts & Entertainment | 5.90% | 10.67% | $1.60 | $36.23 |
| Animals & pets | 19.19% | 6.45% | $2.89 | $14.88 |
| Clothes/fashion & jewelry | 3.60% | 6.19% | $2.61 | $46.06 |
| Lawyers & Legal Services | 11.54% | 3.84% | $8.67 | $73.70 |
| Vehicles — for sale | 6.57% | 7.93% | $2.32 | $42.95 |
| Vehicles — repair, service, parts | 15.23% | 5.39% | $3.19 | $17.81 |
| Beauty & personal care | 7.72% | 5.44% | $3.74 | $51.42 |
| Business Services | 6.77% | 4.72% | $4.90 | $62.18 |
| Career & Jobs | 5.31% | 5.33% | $3.90 | $53.52 |
| Dentist & dental care | 13.81% | 4.69% | $6.49 | $42.95 |
| Education & teaching | 6.16% | 5.46% | $4.18 | $50.91 |
| Finance & Insurance | 5.51% | 5.07% | $5.16 | $62.80 |
| Furniture & decor | 3.25% | 5.73% | $2.14 | $64.72 |
| Health & Fitness | 10.39% | 5.94% | $3.97 | $41.68 |
| Home & Home Improvement | 13.23% | 4.21% | $5.75 | $47.94 |
| Industry & manufacturing | 9.37% | 5.34% | $4.14 | $43.82 |
| Personal Services | 10.52% | 6.12% | $3.46 | $27.94 |
| Physicians & Surgeons | 19.15% | 6.11% | $3.63 | $26.05 |
| Properties | 3.93% | 7.75% | $1.40 | $38.86 |
| Restaurants & food | 6.89% | 7.19% | $1.77 | $20.49 |
| Shopping, collectibles, gifts | 6.70% | 6.33% | $2.23 | $20.91 |
| Sports & leisure | 6.19% | 7.73% | $1.73 | $27.11 |
| Travel | 6.01% | 8.54% | $1.40 | $37.34 |
Knowing the industry-specific conversion rate is a good start, especially if you plan to expand your market into a new vertical. This type of information helps to make necessary changes to your KPIs and prepare business strategies to ensure success.
At this point, it might make sense to develop a deeper understanding of what your funnels[6] look like.
Average conversion rate e-commerce
When answering the question "What is a good conversion rate for e-tailers?", it is important to talk about channels. The conversion rate for an e-store varies by medium and channel, which affects what qualifies as a "good" conversion rate.
Sellers on Amazon, for example, have an average conversion rate that beats benchmarks that e-tailers in the industry consider "good".
In the table below - which is based on data from WebFX7 – we can clearly see the big differences between different channels.
| Channel | Conversion Rate |
|---|---|
| Organic traffic | 16% |
| Affiliates | 10-15% |
| Amazon Advertising | 9.47% |
| Google Ads | 3.75% |
| Microsoft/Bing | 2.94% |
| Social Media | 0.71% |
What is a good ecommerce conversion rate?
A good conversion rate for an e-merchant is about 2.4-2.9%. However, certain industries and traffic from certain channels can be much higher than that.What is conversion rate?
Simply put, your conversion rate is the percentage of visitors to your website or landing page who convert (in other words: do what you want them to do). Depending on your business goals, a "conversion" can be almost anything8, 9, [7], but here are some common types of conversions:
- A purchase
- Submit a form (contact form, lead gen form, etc)
- Phone calls to your company
- Engagement in your online chat
- Registrations for a subscription (either paid or free — such as a newsletter)
- Registrations on the site
- Downloads of something (trial version of software, e-book, mobile app, etc)
- The use of something (new/advanced feature of your web service or app, or simply using your service/app for a certain period of time)
- Upgrading their service
- Engagement on website in any way (time on website, repeat visits, number of pages visited, etc)
There are many other conversions people can take on a website or app, but this should give you a sense of what a "conversion" and "conversion rate" is.
Basically, a conversion[8] is a measurable event that on an important way drives a potential customer towards becoming a paying customer.
Calculate conversion rate
Now that we have a basic understanding of the topic of conversion rate and have identified some typical goals, let's calculate the magic number.
Calculating conversion rate is a simple process that follows a basic formula10. Here is the formula you can use to calculate conversion such as for example purchases on an e-commerce site:
Formula
(number of purchases/number of visitors) * 100 = conversion rate
For those of us who work with conversion on a daily basis, this is dead simple, but since not everyone is equally well versed in this matter, it may be easier to look at 3 concrete examples where we calculate conversion percentages:
Conversion rate examples
Example
(40/2000) * 100 = 2%
(87/17000) * 100 = 5.11%
(610/221000) * 100 = 0.27%
Note
All of these 3 examples are correct. Purely mathematically, this is about a so-called "fraction". The best way to calculate conversion percentage (the "ratio" multiplied by 100) depends on what you define as conversion and how you plan to measure traffic. The numerator ( a ) will measure your conversions (as defined by your conversion goal) and the denominator ( b ) will be what you define as your total pool of traffic (usually number sessions, unique visitors or potential customers).
CRO tips
If you ask your consulting firm around the corner what conversion optimization (Conversion Rate Optimization, CRO) is, then you will get the following answer; "To increase that conversion rate".
However, you will never get very far in your pursuit of higher conversion rates with that approach.
A more holistic and user-centric way[9] of defining conversion optimization: "The process of understanding what drives, hinders and convinces your users, so you can give them the best possible user experience - and that, in turn is what gets them to convert and improve your conversion rate.”
How to increase ecommerce conversion rate
Increasing the conversion rate of an ecommerce store involves optimizing various aspects of your website and marketing strategy to encourage more visitors to make a purchase. Here are some effective strategies to help you improve your ecommerce conversion rate:
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User-Friendly Website Design:
- Ensure your website has a clean and organized design that is easy to navigate.
- Use high-quality images and clear product descriptions to showcase your products.
- Implement a responsive design to ensure your website works well on mobile devices.
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Fast Loading Times:
- Optimize your website's loading speed to reduce bounce rates. Slow websites can deter potential buyers[10].
-
Clear Call-to-Action (CTA):
- Use prominent and compelling CTAs, such as "Add to Cart" or "Buy Now," to guide users toward making a purchase.
- Place CTAs strategically on product pages and within your content.
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Trust Signals:
- Display trust badges, security seals, and customer reviews to build credibility and alleviate concerns about online shopping security.
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Simplified Checkout Process:
- Streamline the checkout process with as few steps as possible. Offer guest checkout options.
- Minimize distractions on the checkout page and avoid asking for unnecessary information.
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Product Recommendations:
- Implement a recommendation engine[11] to suggest related or complementary products, increasing the chances of cross-selling and upselling.
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Personalization:
- Use data-driven insights to personalize the shopping experience, showing relevant products and offers based on customer preferences and browsing behavior.
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Clear Return and Refund Policy:
- Display a transparent and customer-friendly return and refund policy. This can help reduce hesitations about making a purchase.
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Multiple Payment Options:
- Offer a variety of payment methods to accommodate different customer preferences, including credit cards, digital wallets, and alternative payment methods.
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Optimize Product Pages:
- Craft compelling product titles and descriptions that highlight benefits and features.
- Include high-quality images and videos showcasing the product from different angles.
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Leverage Urgency and Scarcity:
- Use limited-time offers, countdown timers, and low-stock notifications to create a sense of urgency that encourages immediate action.
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A/B Testing:
- Continuously A/B test[12] different elements of your website, such as CTAs, colors, layouts, and product placements, to identify what resonates best with your audience.
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Email Marketing:
- Send personalized and targeted emails to engage past visitors and existing customers, showcasing new products, promotions, and discounts.
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Social Proof:
- Showcase customer reviews, testimonials, and user-generated content to build trust and social validation.
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Responsive Customer Support:
- Provide easily accessible customer support options to address queries and concerns promptly.
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Optimize for Search Engines:
- Implement effective SEO[13] strategies to improve your website's visibility in search engine results and attract organic traffic.
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High-Quality Content:
- Create informative and engaging content, such as blog posts, videos, and guides, that helps customers make informed purchasing decisions.
By implementing these strategies and continuously monitoring your ecommerce store's performance, you can work towards increasing your conversion rate and boosting overall sales. Remember that each ecommerce business is unique, so it's important to tailor these strategies to your specific audience and industry.
Conversion strategy example
In today's digital landscape, conversions are the currency of success. The art of moving a visitor from a mere browser to a loyal customer holds the key to achieving sustainable growth.
This guide takes you on a journey through a step-by-step conversion strategy, fortified with real-world examples and data-driven insights that showcase the transformative potential of each stage.
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Analyze and Understand Your Audience. The foundation for metamorphosis rests in understanding your audience deeply. Leverage the might of analytics to unearth a treasure trove of insights. For instance, consider an online fashion retailer that utilized data analytics to uncover a growing trend among their target demographic: a preference for sustainable and ethically sourced clothing11. By tailoring their offerings to cater to this trend, they not only aligned with customer values but also laid the bedrock for conversion triumph.
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Optimize User Experience (UX). In the digital cosmos, user experience reigns supreme. Consider the transformation of a travel booking platform. By optimizing their website for mobile responsiveness and simplifying the booking process, they reduced friction points significantly. This UX overhaul resulted in a 15% increase in completed bookings and 30% increase in add-on sales12, showcasing how a seamless journey can elevate conversions.
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Craft Compelling Landing Pages. Landing pages are your virtual showrooms, where the magic of conversion unfolds. A notable example is a subscription-based meal kit service that revamped its landing page with vivid imagery, mouthwatering descriptions, and an enticing introductory offer. This infusion of creativity and strategy led to a whopping 3X+ surge in sign-ups – from 2.4% to 7.7%13 –, underscoring how the right blend of visual appeal and compelling copy can metamorphose casual browsers into fervent buyers.
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Implement A/B Testing. The science of A/B testing empowers you to make informed choices. For instance, an e-commerce appliance retailer implemented A/B testing on their product pages. By experimenting with different variations of product images, descriptions, and call-to-action buttons, they discerned that vivid, high-resolution images paired with succinct technical details yielded a 22.26% increase in conversions14, +14.23% in Revenue/visitor, and +9.90% in AOV (Average Order Value). This illustrates the transformative potential of data-backed decisions.
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Monitor, Iterate, and Adapt. In a digital realm perpetually in flux, your customer's preferences are dynamic. Take the case of a software-as-a-service (SaaS) provider that regularly monitored user behavior on their platform. When they noticed a decline in usage of a particular feature, they initiated a user survey to gather feedback. Based on the insights gleaned, they iterated on the feature's functionality, resulting in a 25% increase in user engagement15. This story exemplifies how a commitment to ongoing refinement can be the cornerstone of sustainable conversion success.
Each step in this strategy guide is fortified with real-world examples and data-driven insights, illuminating the path toward mastery in Conversion Rate Optimization. Remember, the journey to unlocking remarkable conversion rates is not an isolated event but a dynamic expedition that weaves data, creativity, and user-centricity into a symphony of success.
Your conversion odyssey begins
Conversion Rate Optimization is more than a strategy; it's a voyage towards ecommerce supremacy. With the quintessence of a good conversion rate and a toolbox of actionable insights, you stand poised to traverse untrodden grounds of exponential growth. Whether you're a seasoned ecommerce maestro or a burgeoning entrepreneur, the path to heightened conversion rates beckons – seize the opportunity and witness the meteoric ascent of your digital empire.
Multi-Strategy Conversion: 270+ Growth Marketing Tactics
PRODUCT TYPE
Database
CONTENTS
270+ tactics
FOCUS
Activation & Revenue
DELIVERY
Instant access
Multi-Strategy Conversion: 270+ Growth Marketing Tactics
PRODUCT TYPE
Database
CONTENTS
270+ tactics
FOCUS
Activation & Revenue
Limited-Time (Really)
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