How good your conversion rates really are is a question many marketers ask themselves regularly. A good conversion rate is higher than the industry average. Knowing what a “good” conversion rate means for your business and why it matters is essential to growing your business.
Your conversion rate is the percentage of visitors who complete desired actions (convert) on your website or post-click landing page. Conversion goals differ depending on business type, so conversions aren’t necessarily an immediate sale. The desired action may be purchasing a product or service. It could also be something softer like subscribing to a newsletter, completing a web form, or signing up for more information.
Sales are usually the end conversion goal for most businesses, but you’ll usually have smaller conversion goals along the way. These soft conversion goals help nurture relationships and move prospects through your sales funnel. It’s crucial to improve conversions at every stage so users don’t drop out or bounce at the beginning of their customer journey.
Landing page conversion rates by industry
Across industries, the average landing page conversion rate was 2.35%, and it’s not uncommon for websites to see conversion rates less than even 1%. But conversion rates can differ wildly between industries. A “good” conversion rate will not be the same for an e-commerce site as it is for a B2B website. Wordstream data shows that In 2019 the apparel industry had one of the lowest average conversion rates, at just 2.77%, while vehicles saw an average of 7.98%. The top 10% of advertisers convert at 11.45%. Businesses that use Post-Click Automation achieve much higher conversion rates than the average in their respective industries. High-performers can achieve conversion rates over 35%. Among companies using post-click automation, even “average” performers can reach 10%- 20% conversion rates.
2019 Average Conversion Rates for Google Ads By Industry
Source: Wordstream
Why you shouldn’t aim for average conversion rates
Benchmarking your results against industry averages is always a good place to start when goal setting. But you don’t want to limit yourself to achieving just average industry results. Benchmark against your performance and use conversion rate optimization tactics to improve continually. By using post-click optimization CRO tactics, higher conversion rates are well within reach! Aim to continually improve your own conversion rates and achieve high conversion rates in the top tiers for your industry.
What is conversion rate optimization?
If you want to improve your conversion rates, you’ll need to make CRO a priority. CRO – Conversion rate optimization is the process of continually striving to improve conversions from your website or app. Some marketers are focused on driving growth but getting more clicks. Clicks are essential; more clicks mean more money, but if clicks continue to convert at low rates, you are wasting your budget. CRO aims to lower customer acquisition costs and improve revenue per visitor by increasing the conversion rates of the visitors you already have. Post-click conversion optimization doesn’t focus on bringing more users into the marketing funnel. Optimizing for post-click conversions focuses on improving the number of users who take action or complete a goal on a landing page after clicking on a paid ad. To improve conversion rates, you not only need to have goals set up, but you also need to be able to measure them. CRO uses extensive A/B and user testing to continually streamline and improve customer experience on your landing pages or website. Businesses who focus on conversion rate optimization know there is always room for improvement in conversion rates.
Improve your conversion rates
Many factors contribute to low conversion rates, and it takes time and effort to diagnose issues and improve your conversion rates. But striving to be better than average pays off in increased conversions and revenue. If you want to improve your conversion rate but aren’t sure what your underlying roadblocks are, Postclick can help.
Improve conversions rates when you optimize your landing pages
Want to improve your conversion rates but aren’t sure where to start? Instapage is here to help. We offer three different plans to help take the stress out of building, optimizing, and converting—helping you to create better landing pages and see better results. Schedule an Instapage demo here.