Conversion Rate Defined
Conversion rate is the amount of customers that perform a specific action. For example, the amount of customers who create an account. Conversion Rates should be tracked daily and monthly in order to identify any points of friction and to continuously improve your sales. Improving your conversion rate is referred to as Conversion Rate Optimization, CRO, and is an important metric for all e-commerce businesses to track.
If you’re interested in increasing customer conversion online, you could try: adding social proof, clearly identifying contact information, increasing credibility, or adjusting your site headlines. If you’re interested in increasing customer conversion offline, you could try: adjusting your trial closes or slightly increasing the length of your sales cycle.
In Data Defined, we make the complex world of data more accessible by breaking down all aspects of the field.
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