Three Key Steps in Conversion Ratio Tracking
For any website, tracking website conversions is a critical task.
Businesses spend large amounts of time, effort, and money researching keywords, creating content, creating search engine friendly pages, setting up messaging, and getting traffic to their sites. But is that traffic converting? Is that traffic turning into sales? Tracking your business activity from your website is the best way to improve your results, and turn browsers into buyers. But how do you measure your actual success?
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What are Conversions Anyway ?
At the end of the day, conversions are what a business says they are. For some businesses, conversions are simply online sales. For others a sales conversion could be an information request, newsletter signup, referral, or registration for a resource. Conversions occur when a visitor to your website completes an activity to which you've assigned value. And your site's Conversion Ratio is the number of conversions per site visit.
>>Article: 3 Steps To Improving Your Conversion Ratio
Examining the data that makes up this statistic, such as the number of visitors, where they come from, how long they stay in your site, and analyzing ways to improve this number is called Conversion Ratio Tracking. This is different than Return on Investment, or ROI Tracking. ROI is used for calculating return on investments put into advertising, whether pay per click, banner advertising, or purchasing text links. The methods listed here overlap greatly with ROI Tracking; however, there is other detailed information that goes into ROI tracking that we won’t be necessarily dealing with right now.
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Why Does it Matter?
For every certain number of visitors to your website, you will make a sale. The fewer visitors you have per sale, the higher the Conversion Ratios and the more visitors you have between sales mean lower ratios. The Conversion Ratio is the golden number of advertising. This measures how many visitors to your site actually became customers. Ratios vary widely from industry to industry, but what we are watching is the change over time. And you certainly want that change to be positive.
There are three key steps to successful Conversion Ratio Tracking; within each step are several concepts that will help you achieve this success. Here are the 3 steps to keep in mind:
1. Measure Qualified Leads
2. Understand Your Web and Sales Statistics
3. Chart Purchase Trends
To learn how to do this, just click below to read the rest of the article or to try some tools out for yourself
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