The objective of digital marketing is to ultimately convert online audiences to loyal customers. As such, it is important to engage in conversion rate optimisation. This allows you to lower your customer acquisition costs by getting more value from the users and visitors to your site. By optimizing conversion rate, we can effectively increase your revenue per visitor, acquire loyal customers and grow your business.
Generally speaking, conversion rate optimisation is a system or funnel that drives visitors to complete action on a website. The action could be filling up a lead form to ask for a quotation or even to complete a purchase on your e-commerce website.
Calculating the conversion rate is pretty simple. The equation is as follows:
Total transactions ÷ Total site visits × 100