What is conversion rate? In the field of advertising, conversion rate refers to the average number of conversions achieved through a single ad interaction, expressed as a percentage. However, the conversion rate is not only related to ad placement and clicks. For example, in the context of a landing page for an event, it represents the number of visitors who enter your landing page and successfully accomplish your predefined conversion goal through a call-to-action (CTA) click.
In this article, we will gradually introduce what conversion rate is, how to set marketing goals, common marketing objectives, and conversion elements in landing pages, to help everyone effectively increase website conversion rates!
How to Calculate Conversion Rate?
For example, let’s say your landing page for an event attracts 1,000 visitors through exposure methods like email marketing (EDM) and banner ads. Out of these, 600 visitors click on your CTA after browsing the page. In this case, the conversion rate of your landing page would be 60%. You can also set up conversions at different stages, such as an external click to enter the landing page, scrolling down to browse the landing page, clicking the CTA button, and so on.
Wants to Increase Your Conversion Rate? You Need to Identify Your Marketing Objective!
Without a clear marketing objective, marketers will not be able to define the expected conversion benefits of marketing activities, the direction of execution, and quantifiable tracked data. The resources invested in terms of manpower, budget, and other aspects will all go to waste without clear metrics to measure against.
What are Some Common Marketing Objectives?
We can refer to the AARRR model to roughly divide marketing objectives into 5 stages of the funnel, each with different conversion purposes. As we move down each stage, it is inevitable to experience user churn and conversions. Now let’s briefly explore the common marketing objectives:
- Enhancing Brand Image: Through advertising, search, and other ways, attract more users to visit your landing page, know your brand, and understand its quality and features, thereby increasing their perception and satisfaction.
- User Acquisition: Provide compelling information on the landing page to convert visitors into users who are immediately engaged with your product. This can include sending EDMs to new members.
- Promoting Offers: Periodically launch promotional campaigns or interact with users to encourage continued usage of your service in a positive user experience.
- Generating Revenue: Guide users to purchase better products, services, and user experiences. This includes converting new users into paying customers, ensuring ongoing payments from existing customers, and re-engaging dormant users.
- Word-of-Mouth Amplification: When your product has high satisfaction levels, leverage referral mechanisms to incentivize existing users to recommend and spread the word about your product or service.
<Read more : How to Increase Website Conversion Rates: A Guide for Software Providers >
Applying the Landing Page to Marketing Conversions
The landing page is generally exposed through advertising, search, offline events, and other means, serving as the entry point for marketing exposure and playing the role of a salesperson. A great salesperson is skilled at interacting with users, introducing products, and helping visitors quickly understand the brand and the unique features of the products or services. Additionally, they excel at providing evidence through successful case studies, hitting the pain points of users, building sufficient trust, and then presenting irresistible benefits to guide conversions.
Learn more about landing page knowledge :
5 Elements to Increase Conversion Rates
1. CTA Button
One of the crucial elements to optimizing conversion rates is understanding a Call-To-Action (CTA). Literally, CTA is a call or appeal to take a specific action. The most common element used as a CTA is the button (images or text can also be used as CTAs). When designing CTA buttons, it’s essential to consider their size, position, color, and text to ensure that visitors can clearly see the button and its content on different devices and find it convenient to click on.
2. Form
We can use simple forms to collect visitor data, or as a means for visitors to proactively get in touch. When visitors already trust your services and have a demand, it may only require some questions to confirm a purchase. To build high conversions, we need to prove and guarantee that we can provide the services they’re looking for in exchange for their personal information.
3. Countdown
If you are planning a limited-time promotion, using a countdown mechanism can be very appealing to consumers. People often experience “FOMO” (Fear Of Missing Out), meaning they have a fear of missing out on something in this information-driven era. On the landing page, using words like “limited-time” or “limited edition” can stimulate the desire to purchase. Coupled with a real-time countdown, it creates a sense of urgency and leads to higher conversion rates.
4. Online Drawing
There are many scenarios in life where there are opportunities for lotteries, such as drawing prizes from receipts or participating in a lottery after reaching a certain spending amount. These opportunities allow users to win enticing rewards through simple actions. For users, participating in a lottery is like taking a chance or gambling, and the excitement and surprise, along with the incentive of getting something for free, often lead users to unknowingly achieve marketing conversion goals.
5. Social Sharing
How can you effectively amplify your marketing campaign? In addition to the basic promotional methods and planning attractive activities for potential users, leveraging word-of-mouth on social media platforms can yield impressive results. According to research, 92% of users trust recommendations from friends and family more than traditional advertisements. Therefore, when users enjoy your marketing campaign, they are likely to share it with others. To capitalize on this opportunity, you can embed social sharing buttons on the landing page, encouraging users to share the campaign voluntarily, thereby increasing the likelihood of expanding conversions.
< Read more: What is Social Sharing and why is it important? >
How to Measure the Conversion Rate of an Event?
During an online marketing campaign, marketers can monitor the effectiveness of conversion in real-time, rather than waiting until the end of the event to review data. By integrating tools such as Google Analytics (GA), UTM parameters, and Google Tag Manager (GTM) into the website and accessing the data through the backend.
Moreover, to better cater to user preferences, A/B testing can be employed to fine-tune various elements of the marketing campaign and assess the differences and effectiveness of each factor. Marketers can carry out more accurate remarketing strategies by analyzing the data results from multiple events.
After learning how to apply landing pages in digital marketing, have you already started creating landing pages and generating conversion rates using the methods we have provided? Contact us to learn more about tools and suggestions for creating landing pages. Apply for a demo now and let us help!