Conversion Rate is one of the key metrics in digital marketing that measures the percentage of visitors or leads who take a desired action, such as purchasing a product, filling out a form, or subscribing to a newsletter. In this article, we’ll discuss what Conversion Rate is, why it’s important to our business, and strategies to improve it.
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List of contents
What is Conversion Rate?
Why is Conversion Rate Important?
Strategy to Increase Conversion Rate
Conclusion
Conversion Rate is the percentage of visitors or prospects buy phone number list who take a specific desired action, such as filling out a form, making a purchase, or subscribing to a service, compared to the total number of visitors or prospects who visit our page or website.
Also Read 50 Performance Marketing Terms
Why is Conversion Rate Important?
1. Measuring Effectiveness: Conversion Rate measures how effective our marketing campaign is in driving visitors to take the desired action. This helps us identify the success of our marketing strategy.
2. Optimizing ROI: By increasing the Conversion Rate, we can increase the ROI (Return on Investment) of our marketing efforts, because more visitors take actions that generate value.
3. Reduce Acquisition Costs: By increasing conversion rates, we can reduce customer acquisition costs, because we get more results from our marketing efforts.
4. Improve Website Performance: High conversion rates also reflect the quality of our website, good user experience, and the relevance of our content or products to the target audience.