CONVERSION RATE (CR) DEFINITION AND FORMULA

Find below Conversion Rate (CR) definition and the correct formula to calculate CR by eDigital.



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CONVERSION RATE (CR) DEFINITION

Conversion Rate (CR) Definition: The percentage of users % who have taken a desired action in a specific page. A desired action can take many forms, varying from site to site. Examples include sales of products, membership registrations, newsletter subscriptions, software downloads, or just about any activity beyond simple page browsing.

Every industry and industry bodies measure and compile some average conversion rates. It is said that – for example – retail can have conversion rates between 0.4-2% of people visiting sites. while some other industries might be lower or higher.

CONVERSION RATE (CR) FORMULA

Conversion Rate (CR) formula: Total Visits to your website / Total website sales.

RELATED: THE ONLY  12 DIGITAL MARKETING METRICS YOUR BOSS CARES ABOUT

WHY CONVERSION RATE (CR) IS AN IMPORTANT METRIC TO TRACK AND MEASURE

  • Conversion Rate gives you an indication of the quality of traffic you are bringing to your website and also how great, enticing and easy is for these users to buy from you.
  • Major changes to audience segmentation or website new features might increase or decrease your website Conversion Rate (CR).

TIPS WHEN CALCULATING, MEASURING AND TRACKING CONVERSION RATE (CR)

  • Conversion Rate might also spot seasonalities in your business or days and times people tend to convert the most. You can adjust your digital marketing dollars accordingly.
  • You can track conversion rates to specific banner creative level if you are tracking correctly all your banner advertising. same applies to all your Adwords campaigns.



OTHER KEY METRICS

CONVERSION RATE (CR) DEFINITION AND FORMULA

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