Growth Insight with Ewan Watt, CEO – ROI Growth Agency.
I was in a client meeting last week discussing the results of a recent digital marketing campaign.
I proudly highlighted that we had achieved a website conversion rate of 40%. This was a great result; most similar campaigns achieve a website conversion rate between 8-10%.
Our digital marketing report was sent company-wide to many stakeholders who had not seen this type of report before. The most common question/feedback was….
How do we calculate conversions?
I initially thought the answer was obvious. It’s the number of website visits which have turned into leads. However after 30 minutes of discussion on conversions, it became obvious to me that “conversions” can mean so many different things.
- The Business Owner/ General Manager – Generally defines conversions as actual sales (money in the bank)
- A Real Estate business – 2 types of conversions – vendor leads and buyer enquiries
- An Online Retailer – Number of sales or new customers per day
- A Sales Manager – The % of leads which turn into sales
- A Sales Professional – Conversion rate could be number of new appointments booked
- A Call Centre Manager – The number of new phone calls received, excluding existing customer service enquiries
- A Sales Administrator – The number of inbound sales emails received per day
- A Marketing Manager – the number of leads which are generated per month
- A Digital Marketing Agency – The number of phone calls or online enquiries generated from the website
- A B2B Marketing Professional – The % of lead nurturing prospects that have turned into qualified leads
- An Advanced AdWords Professional – The number of online events which may result in a future 2nd or 3rd click conversion
So what’s my point?
Conversions can easily be misunderstood and can be very different from business-to-business. You can also see how easy it is for all of us to be working towards different numbers.
We hope this blog acts as a reminder to challenge the definition of conversions in your business to ensure it is clear and understood by everyone in your business. If not, we suggest that getting this definition in place is important, as it will help everyone positively contribute to the same number.
If you want any help when it comes to conversions, reach out and drop us a line.
Discover more great blog topics including:
- A different insight into your digital marketing report
- Hands down the most cost effective way to re-engage with your website visitors
- Five gifts for Marketing Managers
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