- What is a good webinar conversion rate? - What is a good conversion rate? (will be higher than you think)
Conversion is a key element in your paid search strategy; if you don't turn Lookers into high-speed buyers, then what are you advertising for? Optimizing your conversion rate allows you to maximize every cent of your PPC spending by finding the sweet spot that convinces the maximum percentage of your potential customers to take action.
But what is a good conversion rate? If you're already reaching 3%, 5%, or even 10% conversion rates, is that as high as you're going? But what is a good conversion rate? Across industries, the average landing page conversion rate was 2.35%, but the top 25% convert from 5.31% or higher. Ideally, we would like to break into the top 10% - these are landing pages with a conversion rate of 11.45% or higher.
We recently analyzed thousands of Google Ads (formerly known as AdWords) accounts with a combined $ 3 billion in annual spending and found that some advertisers convert on average two or three times with bids. Do you want to be average, or do you want your account to perform exponentially better than others in your industry?
By analyzing this huge amount of data on landing pages and conversion rates, we were able to identify some common features of the main converted landing pages. What do you have that you don't have? Believe it or not, there's not much between you and the conversion rates to double or triple what you see today. But the way you get there is completely at odds with the typical wisdom of optimizing your conversion rate.
what is a good conversion rate on AdWords?
In this post, you will learn about the gradual, replicated process of increasing conversion rates, supported by information about the data of the best (and worst) advertisers in the market. Our webinar on current conversion rates is fully available at the end of this post. Today we will talk:
- Why the Usual Wisdom around Optimizing the Conversion Rate Is Stupid
- What is a good conversion rate?
- How to replicate the success of the Best Landing pages
- Are you ready to find out why everything you think you know about CRO is wrong?
Let's get started, but first, use this tool to get a quick temperature check of your current conversion rate: Is your conversion rate above or below the average in your industry?
Optimizing the Conversion Rate: Common Wisdom
Learning that the experts you've been listening to all along are wrong is a bit like learning for the first time as a child that talismans aren't real. Underneath that fluffy suit, there was only a sweaty, unshaven guy. Everything you've learned about conversion rate optimization is a bit like this: shiny and beautiful on the surface, but seriously lacking in substance.
How come everyone is so wrong? First of all, if you sing the same song as everyone else, you really can never be more than average. If all the gurus preach the same optimizations, and all their competitors listen to them, how should they stand out?
The classic conversion rate optimization test is stupid
Ladies and gentlemen, this is a great fairy tale for optimizing the conversion rate. Once upon a time, a professed marketing guru told you that it's really important that you optimize your site. They shared an example in which the author changed the color of the button, the distance between the font or image. And so, the advertiser's conversion rate jumped by 2-7%.
good conversion rate
Amazing, isn't it?! Um, no, not really. These are really basic, Run-of-the-mill A/B Test Best Practices. Yes, you have to constantly perform these optimizations, and you'll probably see a small single-digit increase in your conversion rate, but it's unlikely that you'll be shot at 10% or more of the conversion bucket.
Let me show you what happens to these profits generated by these small improvements on your side. Here is an example of a landing page split test; the gray line below is the first version of the page we ran. The blue line is the second version we ran against it. At first, the new page was far superior to the old one. Brilliant, isn't it?
tests for optimizing the conversion rate
Except that, as you can see, the gains weren't lasting. In fact, the" best " side eventually plateaued. We started running 20 to 30 tests each and saw this pattern in our tests. We call this the premature testing dilemma. You see an early advantage, but soon after that, the early advantage disappears.
Of course, this is not always the case. However, we found that in most cases, small changes such as line spacing, font colors, etc. = small gains. If you want to make a big, serious, and lasting profit from a conversion, you need to overcome these peaks that last only a few days or weeks.
Why is this happening? This is often due to the fact that the total volume of conversions you measure is initially small. If you look at 50, 100, or even 200 conversions in the entire test, small changes may seem more effective than they actually are. Multiple conversions can mean a 4% increase in conversion if there are only 50 conversions in total, because your sample size is not large enough initially.
It's time to stop moving the chairs
Conversion rate
When it comes to optimizing your landing page, you can really be busy with little things that have little impact. It's like rearranging the deck chairs on the Titanic. We need to move from this mentality to big tactics and optimizations that will dramatically change your performance and condition.
First, we need to know,:
Click this link to try GetResponse free for 30 days.
What is a good conversion rate?
Note: this is much higher than you think.
Conventional wisdom says that a good conversion rate is somewhere between 2% and 5%. If you're sitting at 2%, the improvement to 4% seems like a massive leap. They've doubled their conversion rate! Well, congratulations, but you're still stuck in the average performance bucket.
In this analysis, we started with all the accounts that we can analyze and went through a 3-month period. We removed those for which conversion tracking wasn't set up properly, those with low conversion volumes (<10 conversions/month), and accounts with low volume (<100 clicks/month), leaving hundreds of accounts for our analysis. Then we drew where the accounts fit in terms of the conversion rate.
What is a good conversion rate?
So, what is a good conversion rate? About 1/4 of all accounts have less than 1% conversion rates. The median was 2.35%, but the top 25% of personal accounts have twice as much – 5.31% or more. Look, the red ray on the far right is the top 10% in Google Ads, advertisers have an account rate of 11.45%.
Remember, this also applies to individual landing pages – this allows advertisers to achieve an 11.45% conversion rate and higher for the entire account.
Obviously, this is not an anomaly; it is perfectly achievable. If you are currently getting a 5% conversion rate, it will exceed 75% of advertisers ... but you'll still have plenty of room to grow!
best conversion rates
You should shoot at 10%, 20%, or even higher, set conversion rates at 3x to 5x higher than the average conversion rate. Aim to have these unicorns of landing page conversion rate in your account.
Conversion rate by industry
You might think: "But the coefficients are in my industry low."This is quite possible. We segmented the conversion rate data by industry (Legitimate Conversions, E-Commerce Conversion-Rate etc) to see if these findings are true for all marketers. Here's what we found in an analysis of the four main industries:
conversion rates in the industry
There is a lot of flow out there; eCommerce conversion rates are much lower, especially when compared to finance. However, look at the top 10% conversion rates. They are 3-5 times higher than the average for each industry, so we can see that the rule applies across the board, regardless of the industry.
The flip side, of course, is that if you're in a high-performing industry like finance, 5% really isn't a fantastic conversion rate. When you compare yourself to the average in all industries, you are really fooling yourself into thinking that you are better off than you are. In truth, the top 10% do it almost five times better.
Even if your industry's average conversion rates are lower, they outperform the top advertisers by 3-5x or more.
The conversion on display is a different animal altogether; generally, the conversion rates will be lower. If you advertise on the display network, you can use a tool like our Smart Ads Creator to create a design quality that allows you to generate clicks and conversions at a faster rate.
5 Ways to Increase Your Landing Page Conversion Rate
What do these top 10% of landing page unicorns look like and how do they kill the competition for who they are? We have seen a target of 1.000 parties and a qualitative analysis is being carried out with the aim of overall characterization among the existing strong landing pages for advertisers in the market.
Here are my five most important tips which will help you to achieve the status of a unicorn landing page:
1. Change the sentence
Across all the powerful landing pages, we've seen massively creative and differentiated offers. Companies often have a standard offer, they're go-to, that may be the same or very similar to what all their competitors do. Lawyers, for example, offer a free consultation. Software companies offer a free trial. They are inventive and not very creative.
How can you get creative with your suggestion? In our case, we found that it wasn't very inventive or convincing to offer potential customers a free trial of the WordStream software. We had to think outside the box (don't you like that phrase?) and come up with something different and unique; something more tangible and compelling than just sending, and you'll find your way around the trial.
What we came up with is our free AdWords Grader, which actually gives people an account score report with recommendations for improving their Google Ads strategy. It was a big turning point for us. The prospects liked it, and the landing page conversion rates went through the roof.
How do you know if your offer stinks? If your conversion rate is 2% or lower, you're not there yet. But the true way we figured out how our offer stank was by asking our customers. We added a form field to our landing page form to ask people what they wanted to help us with and it wasn't a free trial of the software.
Brainstorm, ask your customers and come up with more unique offers to check out. You'll never know which one is the winner until you try some new suggestions.
2. Change the river
Sometimes they set up barriers to transformation without realizing it.
landing-page-test
In the example above, you will see the first version of the landing page and how much information users had to provide before they could download the trial version of the software. This was clearly too much for many people. It was discouraging and discouraging – not the user experience you want on your landing page.
What is a good conversion rate?
Here you can see your new iteration of the landing page, which turned out to be an exponentially better performer. You have changed the process so that everyone can download and install the file. In the last step, the user will be prompted to register the software. By this time, you have already spent 10 or 15 minutes on the software and are most likely investing time in filling out the information form.
In fact, it was so efficient that they were overwhelmed by the transformations. In the end, they backed off a bit and used the sign-up to find more qualified prospects, requesting information a week after the download, as soon as their prospects had time to familiarize themselves with their software. Changing the flow helped them increase conversions, but also manage lead quality in a much more efficient way.
Here's another great example where an advertiser realized that their target page offer wasn't necessarily talking to the person who would perform the search. In your case, a loved one or friend can ask for help.
landing page Optimization-testing
This advertiser decided that it would allow the visitor to choose their own stream. It was incredibly effective not only for conversion but also for segmentation for your remarketing and lead care.
So, what is the takeaway here? Find the flow that works best for your potential customers and use it to increase your conversion rate and the qualifications of your potential customers.
3. Remarketing as a CRO-use tool
On average, 96% of people who visit a website will leave without even going to lead or sell. Remarketing helps you reach these people with targeted, up-to-date news if you participate in other online activities, such as email, YouTube, video viewing, social networking, or searching for information.
4. Try 10 landing pages to find unicorn 1
Let's talk about tension for a minute. What do you need to insert into the CRO to find your own unicorn landing pages? To understand this, let's look at the relative abundance of these top performers:
excellent conversion rates
Sometimes you get lucky, but if you want to reach those top 10% landing pages in your account, you'll need to replicate the above steps multiple times and test them constantly.
On average, you have to test four unique landing pages – with different offers, expiration dates, and news-to find that great landing page. If you want to find a unicorn landing page-that top 10% page where your conversions reach 3-5 times the average-you need to test at least ten landing pages.
Here, we analyzed an eCommerce account with 1000 unique landing pages. About a third of the traffic goes to the most frequently visited landing page in your account. When we dig deeper, we see that about 80% of the traffic reaches only the top 10% of the landing pages.
Share of all landing pages
You don't need to create thousands and thousands of landing pages. You need to find the best performers you already have and focus your efforts there. How can you improve your performance? Cut off the fat, don't waste any more time on low temperatures – in fact, just remove them. If you only have one great landing page, it makes more sense to focus your efforts there.
Here's more proof that burning midnight oil, which creates dozens or hundreds of variations of the landing page, is not the best use of your time:
What is a good conversion rate?
Here we have drawn tens of thousands of accounts by conversion rate and unique landing pages. We don't see a strong correlation between the increase in the number of landing pages and the increase in conversion.
If you're looking for the best performers, quantity doesn't necessarily equal quality.
Before you worry about conversions, you should first attract potential customers to your landing page. Try our free keyword tool to find niche keywords for your search ads and landing pages.
5. F%@# Exchange Rates
Wait, what??
Conversion rate
Stay here with me. Higher conversion rates, on your face, seem amazing. However, if you convert less qualified leads, you are actually throwing away MORE money, as these leads are costing you money.
I want you to focus on landing page optimization, such as the ones mentioned above, which moves you towards better, more skilled lead generation, not just more conversions.
Key Take-Aways
So, what did you take away from him? I hope you can do the following and use these tips to use a more holistic and effective strategy to optimize your conversion rate – a way that boosts your conversions, but also brings a better quality lead.
Most landing page optimizations are like navigating around the deck chairs on the Titanic. Small changes = small gains.
Insanely focused and strategic landing page optimization brings 3-5x the conversions And improves the quality of the lead.
In some industries, even 5% conversion rates are not so impressive. If you're stuck in the 2-5% conversion rate bucket, you have plenty of room to grow.
Get creative with your suggestions and test several different suggestions to find the one that best suits your audience. If you really want to go crazy (you know you do), find various offers that can help you qualify potential customers.
Identify the obstacles that prevent potential customers from converting, and eliminate these roadblocks by changing the flow. Test different variations to find out exactly which conversion path is best for your audience.
Use remarketing to bring back people who showed intent but didn't convert.
Test smarter, not more often. You need to test 10 unique variations of the landing page to find 1 top performer, but this goes far beyond changing the font color and invoking a variation of the landing page.
Trim the fat on your score and dig out your lowest performers. Focus your energy on the top 10% of landing pages that earn 80% of your traffic.
Always keep an eye on the price that makes more sales or generates leads that are more likely to be converted into sales. Don't let high conversion rates take precedence over lead quality, or you'll waste more qualified leads. You need to find the sweet spot where everything works like a well-oiled machine.
Now act confident, young marketer, to kill the competition and inspire potential customers with your newly discovered knowledge about conversion optimization. Give our free AdWords grader a chance to see exactly where you are with your current landing page strategy, and then make smarter changes that will help you get past your competitors.
And, as always, if you have any questions about our data, strategies, or tips described above, please leave them in the comments!
