Conversion rate is a metric used to measure how successful a website is at converting visitors into customers or leads. It is calculated by dividing the total number of successful conversions by the total number of visitors and expressing the result as a percentage.
There are a variety of conversion rates that can be used to measure website performance, depending on the type of website, products, or services being offered. The most common types of conversion rates include:
• Click-Through Rate (CTR): This is the percentage of visitors who click on a link or advertisement and are redirected to the desired page. It is often used to measure the effectiveness of advertising campaigns.
• Shopping Cart Conversion Rate: This is the percentage of visitors who make a purchase after visiting the website. It is used to measure the effectiveness of e-commerce stores.
• Lead Generation Conversion Rate: This is the percentage of visitors who fill out a form and submit their contact information. It is used to measure the effectiveness of lead generation campaigns.
The Conversion Rate for each type of website will vary based on the type of visitors, products or services being offered and the marketing strategies used. For example, a website that sells physical products may have a higher shopping cart Conversion Rate than a website that sells digital products. Similarly, a website that uses aggressive advertising strategies may have a higher CTR than a website that uses organic search engine optimization.
In addition, Conversion Rates can also vary depending on the type of traffic the website is receiving. For example, a website that receives a lot of organic traffic may have a higher Conversion Rate than a website that receives a lot of paid traffic.