Focus on the conversion rate and the impact of AI on its calculation – LeBigData.fr

The conversion rate reflects the traces of visitors on a website. By describing the actions and frequencies of users, they are used to achieve the objectives of marketing sites.

What is it about ?

This is the percentage of visitors who perform specific actions on a website. This visit is recorded regardless of the action, whether it is a purchase, a subscription, a selection of products, downloads.

Just as there can be multitudes of actions on a page, the conversion rate can momentarily change. Such versatility will vary from page to page and even product to product.

Companies aim to significantly increase this conversion rate. This indeed makes sense, because a high conversion rate means that sales and on-page actions increase.

How to calculate the conversion rate?

The easiest way to calculate the conversion rate is probably the following. It will suffice to divide the number of conversions by the number of interactions on a site. Let’s take the concrete example of a company that launches an advertising campaign on Facebook. The page administrator decides to sell Irish sweaters and the publication attracts 1000 visitors. And if around 40 of those visitors buy the sweater, then the conversion rate is 4%.

Depending on the specificity of a company’s actions and aims, the conversion rate will change. It is therefore necessary to scrupulously follow the movements of the users. For those who are tired of doing calculations all the time, automatic calculators have been developed.

There are also 3 types of conversion: total conversion, subscriber conversion and customer conversion. By repeating the advertising campaign for the sale of Irish sweaters on a Facebook page, we can illustrate these 3 conversions.

the total conversion rate will equal the number of unique visitors divided by the number of visitors with a conversion.

As to subscriber conversion rate, it will equal the number of unique visitors divided by the number of new subscribers.

Finally, the customer conversion ratefor its part, will be equal to the number of unique visitors divided by the number of new customers.

These indices are of paramount importance for commercial sites. Via Google Analytics, marketing page admins will see more conversion rate details. It is indeed a powerful tool to track visitors on marketing sites or platforms.

Various parameters affecting the conversion rate

A/B testing

A/B tests are usually chosen by companies to be able to compare options. The use ofAdoric determines how the conversion rate reacts to changes at the website level.

The type of display

The test gives the possibility to check the type of ad that works best, it can be popups or inline ads.

The offer

Companies do not lack imagination to attract their customers. The best baits are discounts, offers and reductions. But not all discounts are equally attractive. The reality is that 10% discounts pique user interest much more than other numbers. Likewise, the free shipping offer for new customers or subscribers works effectively.

Headlines

Making titles attractive also influences the conversion rate on a given site. Playing with characters, size, color and font effects gives unsuspected advantages.

button colors

As said before, playing with the font has its strengths. Thus, opting for flashy colors or on the CTA buttons would therefore have an impact on the conversion rate.

The trigger moments

Sometimes, when you click on a button, the site activates a certain countdown before opening another page. The wait moment allows the site to hold the visitor’s attention for a few seconds. This presence will logically influence the conversion rate. It is highly recommended.

Average conversion rate

The average conversion rate generally between 1% and 3% describes the average of “visits” itself on the site. This figure indicates that a certain number of users only come to visit the site and will not perform any specific action.

The main objective of marketing sites will focus on increasing the conversion rate and the number of unique visitors. But to be realistic, these figures will not really reach 50% and of course will never approach 100%. However, it is possible to increase them to get significantly closer to 50%.

How to recognize a good conversion rate?

We can determine that a conversion rate is good if it is between 2% and 5%. Currently, big brands have the best conversion rates.

Conversion rate tracking devices

Tracking a conversion rate across different devices will show in the numbers. The rate will actually vary from device to device. On a desktop computer and on a tablet, the rate will be higher than from a mobile device. The thing is, mobile devices don’t convert as well as desktop users. The explanation given is based on the idea that users of mobile devices are less attentive.

How to improve the conversion rate?

How then to increase this rate? Here are 5 ways to improve.

Propose a new personalized offer

Work on personalized offers. Customers are often quickly tickled by the reductions. In addition to discounts, if a site offers free shipping, you can be sure that purchases will increase.

Turn shopping cart abandonment to your advantage

When the customer selects one or more products on a sales site and abandons the basket thus filled without arriving at payment. The causes can be various. However, it is possible to fight against it by first simplifying certain procedures. In other cases, offering multiple payment options or adding an SSL certificate can dissuade the customer from abandoning their purchase.

Improve marketing techniques

Rarely do users buy on the first visit. This is why it will be necessary to strengthen marketing techniques. It is necessary to gain the trust of the customers so that they reveal themselves. It is therefore a question of advertising to those who have already visited the site in the past.

Do not be discouraged by testing several times

Of course, after testing and testing, one may go through a phase of despair, but one should not be discouraged. The smallest details matter and patience often bears underrated fruit. Run A/B tests regularly and watch the changes as time goes on.

Boost customer support

Promoting good customer support greatly increases a site’s conversion rate. The following actions can help considerably: the presence of FAQs, the clarity of pointers and direct chat. The latter can increase revenue by half and conversion rate by up to 40%.

Artificial Intelligence positively influences the conversion rate

Several companies are now using the advantages that theAI offers to increase the conversion rate as well as their turnover. automation,data analysis, the support that AI offers has already paid off with 14% of companies according to the Boston Consulting Group. Artificial intelligence has indeed been able to offer solutions to sales companies during crises.

Artificial machines at the service of humans

AI can be used to study the market or non-market behavior of users. The masses of data collected are analyzed to offer personalized and authentic services. On the other hand, the best solution that AI has provided is the ability to solve problems based on present data and situations. These machines adapt to each moment and make it possible to find answers to frequently asked questions.

In terms of sales, online service offers have increased enormously since the crisis. Food delivery services, digital online movie streaming, fitness services, anything that could make life easier during this period have flourished.

The benefits of AI

AI makes it possible to optimize the customer experience thanks to the fast and efficient solutions it can offer companies.

Another advantage is the hyper personalization illustrated by the example of Starbucks. With every purchase, customers earn points by crafting personalized offers. This technique has boosted sales figures by 300%, it predetermines consecutive purchases in advance by motivating and rewarding buyers.

Furthermore, the ability to provide quick responses to customer requests and need through AI technologies also influences the conversion rate. More and more companies benefit from the automatic assistance in order to reduce the waiting times of their customers. The example of Amtrak, with the automatic customer service called “Julie” managed to satisfy 30 million passengers every day.

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Focus on the conversion rate and the impact of AI on its calculation – LeBigData.fr


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