How do you know if your conversion rate is actually successful? Does your conversion rate show that you’re connecting with visitors and making moves, or does it mean you’re lagging behind and losing potential revenue?
We know you’re results-oriented, so you probably want to see which conversion rates are good, which are great, and which need improvement. (Not sure how to calculate your conversion rate? Learn how here.)
Across all industries, the common conversion rate for landing pages is between 2 and 3%. The companies with the most success tend to convert at least 5%. And the very cream of the crop achieve conversion rates of 10% or higher.
So we would say that 3% is average, 5% is good, and 10% is the best conversion rate.
But, in a lot of respects, these numbers are arbitrary. You’ll get a lot of “expert advice” on the number that will show success or not. These numbers are, for the most part, pulled from thin air. All in all, it’s up to you to decide the right conversion rate for your website.
We think that the best conversion rate is any number higher than what you’re currently doing.
Start with a baseline. What is your current conversion rate for a specific page or action? What does this conversion rate mean for your business right now? Is it helping or hurting you?
Then, consider what your ideal conversion rate would be. 100% is everyone’s ideal, but keep it reasonable. What conversion rate percentage could completely change the way your business is currently run?
For example, you currently have a 1% conversion rate of site visitors to leads. Of 100,000 viewers, you get 1,000 leads. You likely don’t have a 100% conversion rate of sales, so let’s say your sales conversion is 2%. That’s 20 sales. Of 100,000 visitors, you get 20 sales.
But what if you brought your conversion rate up to even 4% for leads? Now, of 100,000 viewers, you have 4,000 leads. With a 2% sales conversion, you get 80 sales. That’s 60 more sales than you otherwise would’ve gotten. And then if you also boosted your sales conversion to 4%, you’d have 160 total sales.
Small adjustments in your conversion rate optimization will start to show exponential growth.
What number would change your business? That’s a “good” conversion rate for you.
You don’t need to overwhelm yourself. If your current conversion rate is 2%, you likely can’t get to 15% overnight. But with a few changes and an emphasis on optimization, you can improve your conversion rate and get more people to take the desired action.
Let’s also take one more thing into account. Conversion rate doesn’t work on its own. It has a deep relationship with your traffic rate as well.
For example, you have a conversion rate of 100%. Good for you! But that’s because you’ve only had 2 sessions, and both viewers have converted. That means you have an awesome conversion rate, but it’s still lousy for your business.
But a conversion rate of 5% with 10,000 viewers will give you 500 conversions. That’s significantly more conversions than the first example, even though the conversion rate is technically 95 points lower.
So don’t look at conversion rate in isolation. You want to evaluate your rate alongside traffic and total conversions.
Do you have the best conversion rate possible for your industry and campaigns? If not, you can do something about it! Start improving your conversion rate here.