Conversion rate is simply the measurement of visitors to a web site that take a specific, desired, action.
These actions will vary from site-to-site but may include, but are not limited to:
- Completion of a request form
- A download
- Membership registrations
- ….and ultimate in conversion…a sale
One of the primary goals of an internet marketer is to convert a visitor into one of the following
- A unqualified prospect: a prospect has taken an action on a web page and through that action we have obtained the prospects contact details; and with these details our sales teams can contact the prospect to determine whether or not this is a hot or cold lead and determine next steps.
- A qualified prospect – here the prospect will request product samples, downloads demo software and has taken an action that may lead to an order
- A customer – the ultimate conversion goal – completion of the shopping cart.
If we do not capture our conversion rate all we are left with is anonymous browsers, we will be able to tell our management team how many page hits, unique visitors etc. but this has little value, other than ego stroking, when you get down to the business-of-business.
If we measure our conversion rate, we can take steps to increase the conversion rate to meet our desired marketing goals. If we do not measure conversion, we are left with is statistics. No names, no addresses, no email email addresses…just statistics.