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Conversion rate is the percentage of people who take a specific desired action. This is a measurement of success for any marketing campaign.
A conversion rate can be calculated for a wide range of campaigns and purposes. Some examples include:
- Visitors to a website
- Signups for a newsletter
- White paper downloads
- Sales for a specific product
- Contact form submissions
Conversion rates are calculated based on the number of completed actions by the total number of visitors / participants / subscribers / viewers / etc.
Why is a Conversion Rate Important?
Your conversion rate is an important measurement that provides a general overview of the performance of a specific marketing campaign. It should be combined with other data and metrics to form a complete picture of the success of your overall marketing efforts.
If you have a high conversion rate, it means that a marketing campaign is effective and converting visitors in your marketing funnel. The information you receive can help lead you toward optimizing the messages, pages, and other elements to improve those conversions.
Alternatively, if you have a low conversion rate, performing an A/B test that modifies specific elements in your funnel can help identify ways to improve conversions.
The best way to measure conversion rates is to include web analytics, such as Google Analytics, to collect data and analyze results efficiently.