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Pretty websites don’t automatically mean successful websites! Without considering howto carry out conversions and increase Return on Investment (ROI) you could have the best website in town, not giving you any business. While conversion rates and ROI may seem complicated (and probably better left up to Search Engine Optimization (SEO) experts),it is vital for anyone in e-commerce to understand what they are and their importance to websites.
Having interesting content and great SEO results will help with conversions and ROI because they are what first attract and then keep people on your site.
What Is A Conversion Rate?
Conversion rates are the percentage of visitors who complete a desired action or goal the business wants the visitor to complete. If you’re more math-minded, conversion rates can breakdown into the number of visitors to your site divided by the number of those visitors who complete an action.
While this definition may sound broad due to the variety of actions or goals significant to different companies, conversion rates come down to anything a visitor does besides browsing the site. Some conversions include:
- registrations of new membership
- sales of product
- subscriptions to newsletter
- downloads of software
Increasing Conversion Rates
Content and SEO are essential to making conversions because content is the first thing a viewer will notice on a page. Appealing to your viewers through good SEO practices and great content not only show you have your viewers in mind, but also that you dedicate time to offering a quality site.
Measuring conversion rates will vary depending on your industry and business model, but there are a few tips to take that can help lead to a higher conversion rate:
Interest LevelNo matter your strategy, it is impossible to convert everyone. Appeal to specific visitors at specific times,such as holidays, to create a more focused conversion plan.
Attractiveness Of OfferViewers are more likely to convert when there is an incentive for them to perform the desired action. An incentive could be something as simple as a discount code or early access to special events and news if they sign up for a newsletter.
Ease Of ProcessHow smooth is it for visitors to complete an action? Make your site is easy to navigate by optimizing it for faster loading times and making forms simple to achieve.
Keep It SimpleMost visitors to a website don’t want to spend ten minutes signing up for a newsletter or even completing a purchase. Keeping completion times down will lead to more conversions.
What Is ROI?
Understanding ROI and how to increase it is a more complicated process than conversions. Briefly put, ROI is how much you gain or lose from an investment while taking into account how much that specific investment cost. For those who enjoy the math of it, this can be determined by dividing the amount gained or lost during the period of investment by the cost of investment. ROI metrics can show:
- Resource efficiency
- How to save time and money
- Strategies that work and do not work
- Overall business performance
How To Up ROI
Businesses want to increase their ROI, but it can be hard to determine what strategies are best while considering ROI metrics. Much like conversions, ROIs will vary depending on your industry and business model, but some tips that can guide you along include:
Measure Current ReturnsYou cannot increase your ROI if you do not know what your current ROI is. Understanding this will provide you with insight on how to measure your standards of specific investments and transform it into a return.
Gauge Possible ReturnsMake a list of the possible returns you may get from each investment. These can include increased sales,revenues, profits, reduced operating costs, and/or regulations. By keeping track of how these factors may have an impact, you will gain insight into how they affect your ROI.
ContentConversion rates and ROI are inseparable. Investing in quality content and design helps your site draw in a more important basis of viewers. Increasing viewers will result in higher conversions (sales, membership, etc.). More conversions on your investment result in a higher ROI.
SEOSEO tactics such as lowering your bounce rate, the number of people who leave without making a conversion,improving site speed, and having unique but specific topics will generate more organic traffic. Adopting these ideas will give you more honest insight into your client base and a better view into where the organic traffic is upping or decreasing your returns.
Conversions and ROI will get more complicated, but understanding the basics of what they are and how to incorporate them will increase traffic to your website. With a site the masses can navigate, it makes it easier to not only make conversions but see where to increase our investments.