If you’re not familiar with the term “on-site conversion”, it may sound complicated. But it is actually an incredibly simple concept. How many people visited your website or online store? And how many of them gave you their contact information? And how many made a purchase? When you have those numbers, you’re just creating a simple ratio that helps you know how well your site or store is performing.
Think about it this way. Imagine you owned a store in the mall and, on any given day, 100 people walked in to take a look around. Of those 100, two of them decided to make a purchase. You would have an in-store conversion rate of 2%.
Now think about that in the digital environment. If 100 people visit your website and two of them give you their contact information and/or make a purchase, you have an on-site conversion rate of 2% (and you’d actually be doing pretty well).
That’s because most of us are pretty bad at conversion. We spend a lot of time thinking about how to drive people to our stores or websites through different advertising channels, but we don’t spend nearly enough time focusing on how we’re interacting with them once they get there.
Not sold yet? Here is some simple math that can help. Let’s assume that every time someone makes a purchase from your site they spend $30. By improving your conversion rate, you can have a significant impact on your business without spending more money to drive traffic to your site.