Quick Insights: Increasing Conversion Rates

In our previous weekly insights post, we talked about the affect seasonality can have on sales – today we're discussing what conversion rate is and how you define it for your business.

Conversion rate is a simple equation: number of goal achievements divided by visits. Goal achievements could be e-mail sign ups to your newsletter, someone ‘liking’ your Facebook page, or product purchases. Although finding your conversion rate is pretty straightforward, figuring out how it represents your customer’s behavior and how to increase it is the tricky part.

1. Sync your site with Google Analytics (if you haven't already). Through GA you will get a robust view of where visitors are coming from and how they are interacting with your website. This is vital for identifying ways to up your conversion rate.
2. Evaluate traffic quality. There is a big difference between high-performing traffic and low-performing traffic; high-performing traffic consists of visitors that have the lowest bounce rate, spend the most time on your site and view the most pages. By identifying these customers, you can allot most of your resources towards these high quality sources of traffic.
3. Properly account for the original source of traffic. Focusing on this will go a long way to increasing your conversion rate. 

To see where your customers are coming from and if they're high quality, sign up for an account with SumAll.