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What is conversion rate and how to calculate it?

What is the goal of your marketing strategy? To generate leads, win customers, or educate the market? Knowing your goal is not the same as achieving it. And the best way to measure how close you are to achieving your goal is to track your conversion rate.

So, if you have questions about conversion rate, now is the time to get rid of them! This article will help you learn this important criterion and start using it in your business.

What is conversion rate?
Why is it important to monitor your conversion rate closely?
How to calculate conversion rate?
How to increase website conversion to make more money?
1. A/B testing
2. Value Proposition
3. Mental triggers
4. Simple language
What is conversion rate?
In digital marketing, every time someone takes an important action towards your brand's goals, they have accomplished what we call a conversion.

So, every digital action your business takes should guide the buyer towards conversion.

Depending on your strategy, this could be filling out a form, purchasing a product, subscribing to social media, etc.

Conversion rate is a metric used to track how much of your audience actually converts into customers and results for your business.

And how do you do that? You need to calculate the number of conversions compared to the total number of visitors to the channel in question. That channel could be a landing page, an e-commerce product page, or a subscription form.

Read also: Online Store Conversion: 5 Simple Ways to Increase Sales

Why is it important to monitor your conversion rate closely?
What would you say if you found out you could double your website sales revenue without increasing your marketing budget one penny?

This is not a fantasy. It happens. But only to those who monitor conversion accurately and regularly.

that conversion tracking is very important for any digital marketing strategy for several reasons.

First of all, this metric will show the return on investment of your marketing efforts and whether your planning should remain the same.

By measuring conversion rates at all stages of job seekers phone number data journey and tracking the progress of visitors and prospects through the sales funnel, you can find bottlenecks and identify missed opportunities.

Even profitable and successful companies invest in conversion rate optimization. Why?

There is always room for improvement, and conversion rate optimization is one of the best ways to increase revenue and reduce costs without taking drastic measures. You only need to optimize the structure that already exists.

But how are you going to improve something you don’t know? Tracking your conversion rate is the first step to identifying problems and fixing them, as well as creating alternative ways to improve what’s already working well.

How to calculate conversion rate?
There is a formula for calculating your blog's conversion rate. But even if you hate math, don't worry, because it's simple.