Conversion Optimization: Which Metrics Matter?

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I’ve written a lot about conversion optimization before because I firmly believe it’s one of the most important things any business can do to increase success, but conversion rate doesn’t have to mean online purchases. Even if you don’t have an ecommerce offering for your business, you can still focus on optimizing your conversion rates. Yes, I said plural “rates.” What do I mean?

Obviously at the end of the day you care about your business making more money while providing value to your customers. How you define your key performance indicators (KPIs) will give you an idea of which kinds of conversion rates you should be optimizing. Don’t be afraid to include as many conversion KPIs as you think are relevant to your success. Think in terms of purchases (if applicable), contact requests, content downloads, quote requests, email newsletter signups, form completions, store locator searches, or any other step in your sales process that gives you more information about your prospect and gets them closer to becoming your customer.

Focusing on optimizing these leading indicators of future business allow you to consistently make sure that your pipeline is robust at every step of the sales funnel. Rather than exclusively trying to boost purchase conversion rate, conversion optimization efforts at various points in the consumer’s path to purchase will ensure that you’re meeting your business goals. If you start by analyzing how your current customers and prospects go from consideration to purchase, you’ll be able to identify specific goals for your website and create a plan to achieve those goals.

Your Next Steps for Conversion Optimization

Here are some great questions for you to consider as you start thinking about conversion optimization in relation to your own business:

  • What are the goals for my website? Am I providing more information about products, trying to drive in-store behavior, urging prospects to get a quote for my services?
  • Which conversion activities are most critical to my business? Do people who complete certain activities convert into paying customers at a higher rate than others?
  • Why am I trying to drive certain behaviors? Are there more effective ways to accomplish my website goals?
  • Where is the low-hanging fruit? What can I do today to start improving my conversion rate?

Find out more about how you can gather the data you need to start your conversion optimization efforts today.

About Jared DeLuca:
Jared is currently the Digital Marketing Manager at Millward Brown Digital. He is a graduate of Northeastern University, having achieved his B.A. in Communication Studies. If you like what you read, you can connect with him on Google+, Twitter, or on LinkedIn.