What is the average conversion rate of a website?
Posted: Wed Dec 04, 2024 3:46 am
What is the average conversion rate of a website?
Basically, conversion is the holy grail of digital marketing. It’s that far-off goal that every marketer hopes to achieve. However, if you have any experience in digital advertising, you already know that not many marketers actually hit their conversion goals.
Increasing your conversion rate is essential to improving your ROI and getting the most out of your online marketing budget. After all, if you're not converting your visitors into buyers (or decision makers) at an optimal rate, then what's the point of having a website?
Conversion rate optimization allows you to make the most of every penny of your click-through spend by identifying the key point that persuades a large number of visitors to take action. But then, what is conversion rate? What is the average conversion rate? What is the conversion rate that your website should aim for? Let's take a look.
What is a conversion rate?
The conversion rate of any business is the number of potential customers kenya phone number list that have been converted into buyers. For website owners, the conversion rate is the percentage of visitors that make a certain decision. The simplest example of this is the percentage of visitors to a website that decide to buy, order or reserve something through that website.
For example, if your business website receives 200,000 visitors during the month of June, and 5,000 of those visitors decide to purchase a product from your website, your conversion rate would be 2.5% (5,000/200,000). However, in the business world, conversion rates are not just about customers. The definition also includes any key performance indicators (KPIs) that are essential to your business.
This can include: multiple visits to your website, spending a certain amount of time on the site, downloading an app, downloading and using an app, moving up a level, subscribing (free or not), registering as a user, etc. Basically, this refers to any other action you would like your site users to take, including “micro conversions” such as watching a video or clicking a link.
What is the average conversion rate?
A recent study by World Stream indicates that the average landing page conversion rate is around 2.35% across all industries. However, there are also efficient businesses — the top 25% of the market — whose conversion rates are 5.31% or higher. In the case of Google Ads, World Stream reports that its average conversion rate is 4.40% on the search network, while it has a very low rate of 0.57% on the display network.
The main difference between search and display advertising in Google Ads is that display advertising belongs to the “push” type of marketing, while search advertising is a “pull” type of marketing. Display networks work as demand generators on those sites where your advertising is made known, on the contrary, search networks work as demand collectors, so in this case, your advertising collects the intention.
Does this mean that display advertising is a waste of money? Of course not! It is essential in creating ads to drive conversions, just like on search networks. The power of brand awareness should not be underestimated. As we mentioned above, display advertising generates demand by creating awareness — no one searches for a brand they don’t know.
According to World Stream, the industry-wide average conversion rate varies significantly across both search and display networks. For example, for vehicles, the conversion rate is as high as 7.89% on search networks and 0.51% on display networks.
Basically, conversion is the holy grail of digital marketing. It’s that far-off goal that every marketer hopes to achieve. However, if you have any experience in digital advertising, you already know that not many marketers actually hit their conversion goals.
Increasing your conversion rate is essential to improving your ROI and getting the most out of your online marketing budget. After all, if you're not converting your visitors into buyers (or decision makers) at an optimal rate, then what's the point of having a website?
Conversion rate optimization allows you to make the most of every penny of your click-through spend by identifying the key point that persuades a large number of visitors to take action. But then, what is conversion rate? What is the average conversion rate? What is the conversion rate that your website should aim for? Let's take a look.
What is a conversion rate?
The conversion rate of any business is the number of potential customers kenya phone number list that have been converted into buyers. For website owners, the conversion rate is the percentage of visitors that make a certain decision. The simplest example of this is the percentage of visitors to a website that decide to buy, order or reserve something through that website.
For example, if your business website receives 200,000 visitors during the month of June, and 5,000 of those visitors decide to purchase a product from your website, your conversion rate would be 2.5% (5,000/200,000). However, in the business world, conversion rates are not just about customers. The definition also includes any key performance indicators (KPIs) that are essential to your business.
This can include: multiple visits to your website, spending a certain amount of time on the site, downloading an app, downloading and using an app, moving up a level, subscribing (free or not), registering as a user, etc. Basically, this refers to any other action you would like your site users to take, including “micro conversions” such as watching a video or clicking a link.
What is the average conversion rate?
A recent study by World Stream indicates that the average landing page conversion rate is around 2.35% across all industries. However, there are also efficient businesses — the top 25% of the market — whose conversion rates are 5.31% or higher. In the case of Google Ads, World Stream reports that its average conversion rate is 4.40% on the search network, while it has a very low rate of 0.57% on the display network.
The main difference between search and display advertising in Google Ads is that display advertising belongs to the “push” type of marketing, while search advertising is a “pull” type of marketing. Display networks work as demand generators on those sites where your advertising is made known, on the contrary, search networks work as demand collectors, so in this case, your advertising collects the intention.
Does this mean that display advertising is a waste of money? Of course not! It is essential in creating ads to drive conversions, just like on search networks. The power of brand awareness should not be underestimated. As we mentioned above, display advertising generates demand by creating awareness — no one searches for a brand they don’t know.
According to World Stream, the industry-wide average conversion rate varies significantly across both search and display networks. For example, for vehicles, the conversion rate is as high as 7.89% on search networks and 0.51% on display networks.