Why Bounce & Conversion Rates Are Your Key Online Marketing Statistics
While the primary focus of Australian website owners tends to be on improving rankings and traffic, the core concern should really be increasing the conversion rate and lowering the bounce rate of their website. Your bounce rate tells you how quickly people leave your website, while your conversion rate tells you how many visitors convert into sales leads (or even sales). These stats will help your business far more than any increase in traffic – they are the keys to efficient returns on investment.
Confining your landing page (and related investment) to the virtual scrap heap because bounce rates are high is a huge mistake – the reality is that even the best landing pages require constant tweaking and refinement to improve upon conversions, so it makes sense to spend a little more time and effort refining your landing page to improve conversions. A minor change may be enough to keep them interested and convince them to act and if and when they act, you will save considerably on customer acquisitions.
It is important to be aware that increasing your AdWords or PPC budget will not fix the problem; it will only exacerbate the issue as you will be losing more money. If anything, you should probably consider scaling your AdWords spend back until you get the conversion rate right.
Why is my web page not converting?
Generally speaking low conversion rates are mirrored by high bounce rates. This is usually the result of one of two scenarios – (i) you are not attracting the right visitors, or (ii) you are attracting the right visitors but your web page is making the desired them.
If you are not attracting the right visitors, you need to examine the keywords you are targeting in your pay-per-click (PPC) campaign to ensure the keywords you are selecting are consistent with the product or service you offer.
There are numerous reasons why your website or web page may not be converting as highly as competitors or other websites despite attracting the right visitors.
• Is your web page design is outdated?
• Is your promotional message misleading? If you are making claims of FREE, cheap or discounted extras, then deliver.
• Do you have enough content explaining your business, product or service? Not enough information tends to make discerning consumers quite wary – especially online.
• Have you got too much content? There is a huge difference between what you know about your business and what a paying customer needs to know to make a decision.
• Are on-page calls to action relevant? Don’t offer a free download if the item downloaded is not relevant or useful to the customer.
• Have you differentiated your business? Just saying you are the best in the business isn’t going to win customers – your website needs to convey your competitive advantage clearly.
How do I improve my website’s conversion rate?
It is important to record data related to how your business acquires customers – your Google Analytics account will record the online data but offline data can also provide a valuable insight – particularly market trends, buyer behaviour, competitive changes within the industry and other external variables. If you convert one-in-five (20%) store visitors, then converting one-in-100 (1%) website visitors is not exactly satisfactory. Conversely if you only convert one-in-100 store visitors, expecting a one-in-five (20%) conversion rate is overly ambitious.
If you only compete online, it will take time to understand conversions you should have more resources to dedicate to evaluating online customer behaviour and tweaking your site until you get to where you want to be.
A low conversion rate and high bounce rate for any landing page on your site should be the starting point for your efforts, not a point at which to consider that page a lost cause.
To make improvements ask yourself the questions above – ideally this will be backed by real customer data (obtainable via a survey) – it’s their opinion on the site that counts, not yours. Draw conclusions and make changes to your landing page(s) accordingly. Then measure the effect of the changes and continue to refine until you get a consistently favourable conversion rate. When you find out what works for a given page, apply it to others but remember that different products or categories may require different approaches.
If you want to improve your website conversion through the expertise of our web design specialists, get in touch with roi.com.au today by calling 1300 650 274.