Conversion rate refers to the number how many people/user has completed your targeted work that work can be link click, app install, software download/install, purchase a product. If user doesn’t fulfill your requirements then it wouldn’t been a conversion it’s just a click through rate.
What is a conversion rate in marketing?
Before you start trying to figure out what your conversion rate actually is, you need to know what it is. Conversion rates are a percentage that is used to determine how many visitors to a site will turn into customers, or how many shoppers will buy a certain product.
Although it may seem like a simple concept, what it actually refers to can vary depending on the industry. The term is most commonly used in marketing and advertising but is used in other sectors, such as eCommerce and fundraising.
Why is conversion rate important?
- It helps to measure the success of your marketing campaign.
- Conversion rate is one of the most effective ways to increase sales and revenue
- Conversion rate is one of the key tools for calculating marketing ROI
- Important for market research
How to Calculate conversion rate in Digital Marketing?
In digital marketing, conversion rate refers to the number of visitors who take action after visiting a website or landing page. While the exact formula for calculating conversion rate will vary depending on the situation, the basic approach involves dividing the number of conversions with visits into 100.
If you want to calculate your post/ ad/ videos conversions rate by manually you can do it by following the formula. Otherwise, you can use our handy online based calculator that’s totally free of cost!!
Conversion Rate Calculator Formula:
The formula is:
Conversion Rate= (Conversions ÷ Clicks) × 100
Note: In clicks term, you can also input visit data. I mean then your formula is:
=(Conversions ÷ Visits) × 100
How to Calculate Conversion Rate in Excel?
You can also calculate conversion on excel by the simple process. Just design a sheet in excel or google spreadsheet like the below table.
Now past the formula on B3 cell =B1/B2*100%.
How to Improve your conversion rate
If you have a website, you want to improve your conversion rate. The conversion rate is the percentage of visitors to your website that take action. For example, the conversion rate for an ecommerce site is the percentage of visitors that complete a purchase. There are a number of different ways you can increase your conversion rate. The two most common are:
1) Optimize your website for conversion
2) Create content your target audience wants.