The sole purpose of every advertiser is to get buyers at a higher rate. However, achieving this is not a rocket science, it is a practical approach of finding that comfort zone that will convince the larger number of your prospects to take action.
Doing everything possible in order to maximize every penny spent on your PPC is known as conversion rate optimization.
Records available reveal that less than 25% of businesses rate themselves to be so okay with their conversion rates, though that is their expectation, I am so sure your way of rating yours could differ as it depends.
More interestingly, the normal conversion rate for advertisers is known to be between two and five percent, ranging from brand names to small-to-midsized businesses on average.
Though many organizations never aligned their thoughts with this, which is why they want a top-notch conversion rate in order to earn higher and have an edge over other competitors in the marketplace.
This prompts us to ask the question: what is a good conversion rate, and could the conversion rate be above 10% for all industries and company sizes, and how can you gain conversion rate optimization?
This article titled: An overview of a good conversion rate and how to improve it is poised to give a rundown of what is a good conversion rate, conversion rate optimization, ways to increase your landing page conversion rate and some key takeaways that will keep ringing bells anytime you are thinking of toiling the line of advertising.
Table of Contents
What is a good conversion rate?
I am certain many will be shocked to know after reading this article that a good conversion rate is between 2 percent and 5 percent on average. However, don’t be stocked in a place, but think of a double jump in the conversion rate. If it is even a jump of 0.5 percent, it can be a big deal.
Always aspire to reach a good conversion rate of above 10%, since some businesses are achieving an average of 11.45%.
Earning a good conversion rate speaks well of your company, it places it in the top 10% of global advertisers, which makes your conversion rate far better than the average conversion rate.
Does that conversion rate apply to every channel?
When discussing conversion rate, there is every need to talk about channels and this has to do with what makes a good conversion rate.
Conversion rates vary considerably. For example, sellers on Amazon maintain a conversion rate that supersedes what many industries see to be good, while the organic search on the other hand also witnesses conversion rates that equally surpass 10%.
That is not to say, you can’t aim for a higher conversion rate than these figures pointed out here.
Remember, working harder to have a double-digit conversion rate will not only help your company reach the average conversion rate for your various channels but also move towards achieving an even better conversion rate.
Average conversion rates
Are you one of the people looking forward to improving your conversion rate in the different mediums? The table below serves as your guide.
Check it out!
|Channel||Average Conversion Rate|
But if you’re someone who is inquisitive about conversion rates that are specific to your industry, take your time and peruse this table:
|Industry||Average Conversion Rate|
You may be thinking, “But conversion rates are low in my industry.” That’s entirely possible. We segmented conversion rate data by industry (Legal conversion rate, e-commerce conversion rate, etc.) to see whether these insights held true for all marketers.
Measures of retail sector ad conversion rates
There is an average conversion rate of 3% in the industry according to the 2020 report. Though it is obvious that some industries may stand a better chance of enjoying conversion rates going by the competition and demand of the said products and services while other industries could record lower conversion rates.
Here is the breakdown:
|DIY & Tools||1.7%|
|Home Furnishing and Decor||2.3%|
|Jewels and Cosmetics||2.9%|
|Apparel and Footwear||4.2%|
|Health and Pharmacy||4.6%|
Looking at this table here, it is clear that conversion rates differ for e-commerce. Imagine a store that sells gift items may enjoy a higher conversion rate, while a store with a sports goods conversion rate may be low.
This implies that a big e-commerce store with multiple products turns out to have different rates for different sections.
Traffic source and conversion rates
Another point of note here is that, according to research by Episerver, there is a huge difference in conversion rates putting into consideration the source. Knowing how to calculate the conversion rate will do you good.
It is true that, while the rate for some pages may be higher or lower than the average website conversion rate, it is certain because users who gained access to your site via a specific channel might be more concerned about the stuff you have to offer rather than users who randomly land on your site.
This breakdown is helpful:
|Traffic Source||Conversion Rate|
Looking at the above table, paid traffic seems to have a good conversion rate and as a result of such, a large number of businesses buy ad space.
Device and conversion rates
This is one of the important indicators of conversion rates. Here, a good number of users use mobile devices to browse the web, and hence the need, to know how the rate changes from device to device.
Find the breakdown:
Despite having a good number of mobile users, it does not convert as desktop users do. That is to say, mobile conversion rates recorded minimal conversion rates.
This assertion is deduced from believing that mobile users are often distracted.
Conversion rate optimization (CRO)
Simply put conversion rate optimization is a process where your sponsored search ads, and landing pages, including overall website design when optimized, will greatly raise your conversion rate.
The ultimate goal here is to ensure a greater number of visitors to your site are to be converted and this in turn could increase profits from sales without raising your advertising spend.
Conversion rates, though, vary depending on your industry and business model, but in truth, everybody wants to enjoy a better one!
Find here a benchmark for the average conversion rate in Google ads in the 20 different industries:
The above graph shows that even if your Google Ads conversion rate is average for your vertical, a higher conversion rate is an option for businesses. Then why settle for average?
When we speak of conversion rate optimization, note that it requires time and resources, and by that time you’re doing it right by way of testing using the basic principles and metrics of website conversion optimization.
But trust me, you are already on your way to a double-digit increase in conversion since there is a high possibility that a potential customer who arrives at your site from a search engine becomes a qualified lead or a paying customer.
How can this be achieved? Here are a good number of things you need to do in order to increase your conversion rate:
- Always write persuasive, clickable PPC ads: The clickable PPC ads must be relevant to the keyword/search query and in line with the expectations of your intended readers. This can indeed serve you well only if you’re targeting high-intent mid-tail and long-tail keywords that indicate a searcher who is late in the buying cycle, as those consumers are more likely to convert.
- Sustain relevance between your ads and corresponding landing pages. Don’t forget, your landing page should always deliver on the promise of your ad (the call to action). This, in a way, can make it easier for the searcher to complete that action, whether it is signing up for a newsletter, downloading a white paper, or making a purchase.
- Test your landing page design. Conduct A/B to find the right layout, copy, and colors that push the highest percentage of site visitors to fill out your form, call in or otherwise convert to a valuable lead or customer.
The 5 ways to increase your landing page conversion rate
In order to achieve a milestone with favorable results in the midst of other competitors, what do the top 10% of landing page unicorns look like and how are they? We went through over 1,000 landing pages with a thorough search so as to ascertain the common traits among the best-performing advertiser landing pages in the market.
Find here the top five tips to help you reach the unicorn landing page:
#1. Change the Offer
Changing the offer is instrumental though, but try as much as possible to maintain your brand despite being creative, so that the aim to convert users will not be defeated.
This is, of course, achievable when you want to experiment with different offers and the simple way of doing it is to try different words, phrases, and calls to action (CTAs).
Trust me, in the end, these changes could, of course, have a physical impact on your conversion rates.
For instance, we are fully aware that in every business there are competitors but being creative help you stand tall amongst others, which is why you need to come up with something different and unique; something more tangible and compelling than just taking a cue from your competitors sending them to a software trial to find their way around.
If you choose to add specific features to your offer, it will make a difference, which is why we came up with our free Google Ads Grader in order to give people an account evaluation report, with recommendations to help them improve their Google Ads strategy.
Remember this requires time and dedication. Therefore, brainstorm very well and ask your customers. This is a sure way you can come up with more unique offers to test. You’ll never know which one is the winner until you try some new offers out.
#2. Bonus Tip: Offer Free Shipping
Free shipping is one of the bases that you employ can help boost your conversion rate greatly even by offering so, customers need to know you offer free shipping in the first place. The best tool to be used here is Adoric’s free shipping bar tool.
With Adoric’s free bar tool, you can create an attention-grabbing floating bar to promote your free shipping offer.
This is easy and straightforward to do; just pick a floating bar template and edit/customize it to your heart’s content.
#3. Change the flow
Many times our actions hinder conversion, but unknown to us. To get an average conversion rate, try as much as possible to be concise about whatever information the audience is looking for.
When it becomes obvious how much information people had to provide before they could have access to your offer, it turned out to be discouraging, especially for many prospects. Therefore, always create a user-friendly experience you want on your landing page so as to attract more converts.
Making a change turns out to be an extraordinary gain. Therefore, we always have a shift, no matter how insignificant it may be to others, but trust me, the change can bring a positive outcome.
For instance, when the advertiser realized their landing page offer didn’t necessarily speak to the person who would be performing a search. In such a situation, it is obvious that a friend might be seeking help.
With this, the advertiser decides they will let the visitor choose their own flow, thereby making it incredibly effective not only for conversion but also in segmentation for their remarketing and lead nurturing efforts.
The best way to go from here is to find the flow that works best for your prospects and use it to boost the conversion rate and qualify your leads.
#4. Remarketing is a key tool for CRO
There is no doubt that averagely of 96% of the people who visit a website may leave without ever converting to a lead or sale.
In this regard, remarketing turned out to be the best option since it can help you get in front of these people with targeted, relevant messaging as they take part in other activities around the web, such as email, watching YouTube videos, using social networks or searching for other information.
#5. Try out 10 landing pages to find 1 Unicorn
To achieve the top 10% landing pages in your account, you must need time and dedication and, more importantly too, to ensure you carry out the steps mentioned here in this article multiple times and perform testing on an ongoing basis.
Additionally, you should be testing four unique landing pages that have varying offers, flow and messaging and this is the best way to find that one awesome landing page.
Finding a unicorn landing page, which is the top 10% page that sees your conversions reaching 3-5x on the average, you must need to test at least ten landing pages.
In our case, we’ve analyzed an e-commerce account with over 1000 unique landing pages. About a third of traffic goes to the top most-trafficked landing page in their account and as we dig deeper, we have established that about 80% of traffic goes to just the top 10% of landing pages.
Therefore, on your part, you don’t need to make thousands and thousands of landing pages, but all you need to do is to find the top performers you already have and focus your efforts there.
How can you improve their performance? Basically, ensure you stop wasting time on the low performers and find out the topmost performers, even if it means having just one great landing page, it’s all about you staying focused.
Never feel worried again concerning conversion, all you need is to get prospects for your landing page and you can achieve a lot if you try out the free keyword tool to find out niche-specific keywords to implement in your search ads and landing pages.
How important is your conversion rate?
Every digital marketer must be worried about the conversion rate. As you are thinking of the conversion rate, you are also thinking of what is a good conversion rate and this brings about the question of how important is your conversion rate.
Yeah, when you are dealing with the conversion rate, you see it using multiple different indices just like any other online marketing metrics.
That’s to say, in most cases, CRO could result in an influx of undesirable leads.
Though it is not always the case, the idea of increasing your conversion rate at the cost of lead quality demonstrates the importance of making lead quality a part of your CRO strategy.
To increase the conversion rate of qualified leads versus any lead. Stay focused on tests and changes that will bring about your perfect lead, versus anyone in your market. Always investigate to see how impactful is the experience of qualified leads versus everyone that visited your site and participated in the experiment.
If the result turns out to be positive considering this kind of focus, rest assured that you can maximize the accuracy and value of your conversion rate.
The sole purpose of every advertiser is to get buyers at the highest rate. However, achieving this is not rocket science but it has to do with the practicability of finding that comfort zone that will convince the larger number of your prospects to take action.
This is where you can be able to achieve conversion rate optimization, by so doing, you can be able to maximize every penny spent on your PPC, be encouraged, stick and use these tips so as to guide you to an effective conversion rate optimization strategy, so that, in the end, it will not only boost your conversions but bring better lead quality.