What Is Conversion Rate? 10 Ways to Increase Website Conversions

In online business, Conversion Rate is an important metric in your paid search strategy, showing how effectively your ad campaign turns traffic into leads. In today's article, MONA Media will help you understand more clearly the importance of What is conversion rate and how to increase your website's conversion rate you project.

What is conversion rate?

Conversion rate is the number of conversions as a percentage of the total number of users reached by a given campaign. Conversion rate shows how effective your website is, expressed as a percentage: the share of visitors who take interactive actions such as signing up as members, filling in a survey form, placing an order, paying…out of the total number of people who “visit” your website.

Conversion rate formula:

CR (conversion rate) = (Total goals achieved / Total website visits) x 100%

Example: A website selling household goods, targeting sales during last October's promotion, recorded 550 visits, of which 260 were purchase sign-ups. From this you can calculate conversion rate website:

CR =260/550*100% = 47%

For e-commerce websites, conversion rate is extremely important. Conversion rate The higher it is, the more effectively your website is performing, and the more it shows your company's marketing campaign is on the right track. So what do visits usually convert into? For example:

• Call conversion rate: how many calls come in to the company's hotline per 1,000 website visits.
• Purchase conversion rate (completed orders): how many orders are sold per 1,000 website visits.
• Member sign-up conversion: how many new members sign up per 1,000 visits…

Why does conversion rate matter?

From our experience in technology, MONA has found that regularly tracking your marketing conversion rate tells you how your website or e-commerce app is performing and what share of users convert. This metric also gives you the most objective assessment of your website's success, and helps you identify customer trends, tastes and needs in different fields, as well as areas to improve.

In short, improving conversion rate means helping your company earn more revenue and win more contracts from the same amount of traffic.

In detail, one example of website conversion rate optimization is the website Booking.com, an online hotel booking platform. This website applied many conversion rate optimization techniques to push customers to book rooms, such as:

• Scarcity and competition: showing the number of rooms left, how many people are viewing the same room, and how many people booked in the last 24 hours, to create a sense of urgency and fear of missing out.
• Social proof and credibility: Showing the number of reviews and scores from previous guests, highlights, and security and safe-payment icons, to increase customer trust and satisfaction.
• Persuasion and value: Showing special offers, free cancellation and no booking fees, to encourage customers to book right away and save money.
• Convenience and ease of use: A simple, clear interface, filters and sorting by many criteria, and features to save choices and compare rooms, to help customers search and decide quickly.

This helps push customers to turn their wishes and thoughts into real actions, improving the business's revenue and sales.

One of the key ways to increase conversion rate is understanding how customers make decisions. Even if they don't always admit it, in reality a polished, professional design has a big influence on emotions and buying behavior. A good-looking, clear, professional website can help customers feel more trust and decide faster. So how do you use psychology in design to optimize conversion rate? Watch the video below to learn more:

Ways to increase your website's conversion rate

To help businesses improve their customer conversion rate and grow revenue, MONA has put together the following effective ways to increase conversion rate:

Set clear conversion rate goals

Conversion Rate is a metric that measures how effectively a website persuades visitors to take the desired actions. No website can have a 100% conversion rate, meaning every visitor converts.

So you need to check whether your website's conversion rate is high or low compared with your goal. If it is low, review whether your goal is realistic.

Example: If you want to sell cars on your website, you cannot expect a high conversion rate, because cars are expensive and hard to sell online. On the other hand, if you only want to collect customer details to contact them later, your conversion rate will be much higher.

Create engaging content that attracts customers

This part goes deeper because it is the “key” to making a website appealing. In business, you always need to put yourself in the customer's shoes to understand what they want before you can meet their needs.

Your job, then, is to deliver information to customers in a presentation and with data that are short and concise yet still complete. You also need to make clear to users what they are reading, why they should care about that information, why they should trust you,…

-> See also: How to write good contentand increase customer conversion rate, in detail from A to Z

Set up A/B testing

A/B Testing is a comparison and measurement method that helps businesses collect customer feedback and choose the best options and strategies for their website. It is considered one of the most practical ways to support a business growth strategy.

For example, if you have 2 headlines for the same content but don't know which one attracts users more, you can try A/B testing. The results of this test make it easy to choose the best option. In the same way, you can apply A/B testing to every part of a campaign to optimize it and get the highest conversion rate.

Add more urgency

Creating urgency to increase conversion rate on a sales landing page is one of the most powerful methods. It makes customers ask themselves whether to buy, for fear of missing out. There are two kinds of urgency you can create:

• Limited quantity (For example: Only 2 slots left at this special price).
• Limited time (For example: Only 1 day left to buy).

However, you should not deceive customers by creating fake urgency. If customers find out, they will ignore the store's future promotions and your brand's credibility will drop sharply.

Integrate live chat

Live Chat works almost like a shortcut, a handy contact button that makes your website look more professional and gives customers a sense of trust. It is a simple bridge between customers and your website.

Customers can interact with the business directly and quickly when they need advice, answers or even want to partner or buy. It also makes it easy for you to fix shortcomings based on customer feedback to improve your website and conversion rate better.

Simplify the checkout process

Many people write excellent, high-quality articles and visitors decide to buy after reading, but the order form is so cumbersome that conversion rate drops.

In this case, MONA advises you to avoid forcing customers to create an account to buy. In the order form, you should only ask for their name, phone number and delivery address . Email confirmation is also not really necessary; you can verify the order yourself by calling the customer directly. Remember, always make it as simple as possible for customers and don't complicate things unnecessarily.

Build more customer trust

One effective way to build customer trust in your business is to add links pointing to reputable websites. This lets your customers verify information about your business quickly and easily. Professional website design is also an important factor in making customers trust your business.

Or you can use plugins such as Testimonial, Review to record reviews from earlier buyers, building trust for customers who visit your website and want to learn more about your services and products!

Show customers your value proposition 

Value proposition is an important concept in business: it is the difference in value you offer customers compared with your competitors. Customers choose your product based on that value. It can come from service, customer care, product quality or price. So finding and optimizing your distinct value is very important for increasing customer conversion rate.

Add effective calls to action (CTAs)

Call to action has always been a top way to improve conversion rate. Almost all websites today use this method to attract customers and increase revenue.

You are probably familiar with flash sale sections with countdown timers that appear during promotions, customer appreciation events,… on e-commerce marketplaces. That is a form of Call to Action, an effective way of prompting purchases for e-commerce websites, playing on customer psychology.

Other ways to prompt conversion include adding buttons such as Buy now, Order now, text lines, attached images,… to grab attention and push customers' purchase intent.

Page load speed

Improve your website's speed: This is an important factor in building a user-friendly website. If you visit a website and it takes a long time to load, would you have the patience to wait when you have countless other choices? Would you want to come back next time?

This can be one of the obstacles that makes you lose a large share of potential customers visiting your website. Once traffic drops significantly, how can engagement with the website stay high? So for a website interface that gives users a great experience , page load speed has to be a top priority.

If you need to improve and optimize your website's load speed and interface to enhance user experience and drive high conversions, please CONTACT US MONA via Hotline 1900 636 648 to get your business a website design service tailored to your requirements, that helps you completing your website exactly the way you want.

The professional team at MONA Media is always ready to advise and deliver the best solution for your website, helping increase conversion rate and grow revenue.

You may also want to read:

• A guide to checking website speed simply and accurately.
• 10 methods to speed up a WordPress website effectively.
• Google PageSpeed Insight what is it? Ways to optimize your PageSpeed Insights score.

Frequently asked questions about conversion rate

1- What is a good conversion rate in marketing?

What counts as a good conversion rate depends on many factors such as the business's industry, goals, strategy and competition. There is no single figure for all websites. However, according to a WordStream study, the average website conversion rate is 2.35%, while the top 10% of websites have conversion rates above 10%. This means that if your conversion rate is above 10%, you are doing better than most other websites.

2- Is a high conversion rate really good?

A high conversion rate is not always good. You need to look at conversion rate in relation to ROI (return on investment). If you push your conversion rate up through discounts, gifts or heavy ad spending, you may lower your ROI.

You also need to make sure the customers who convert are quality customers, meaning they stay loyal and buy repeatedly rather than buying once and leaving. You should also compare your conversion rate with competitors in your industry to know where you stand and what else you can improve.

3- Why does a website have a low conversion rate?

The main causes of a falling conversion rate are:

• Slow page load speed, and the website's technical factors are not optimized.
• The website interface is not user-friendly.
• The website's brand has not built credibility.
• The website content is rambling and not honest enough.

Above is a detailed answer to the question of what Conversion Rate is and effective ways to increase conversion rate for your website. As you can see, conversion rate plays an important role and is the metric that measures the effectiveness of marketing campaigns in particular and your website in general. We hope the information MONA shared above helps you improve this metric and grow your revenue!