Conversion Rate
Conversion rate is the number of users who complete the desired action. It is calculated by dividing the total number of user who clicks or converts by the overall expected size of the audience. It is expressed in percentage. It is the critical element of any paid digital marketing strategy. It optimization helps you maximize the use of each cent you spend on the paid digital marketing plan. Evaluating and analyzing the conversion rate allows the business to understand its current and potential customers. It has a direct positive impact on business revenue. Not only that, it leverages exciting traffic. If the business has a keen eye on its conversion rate, it can effectively manage the Customer acquisition cost as they can innovate and alter strategies as and when needed. A high transformation rate and a high rating are reciprocal and complement each other. High conversions increase the site rating, which in turn positively affects the conversion rate.
Moreover, it has a direct positive impact on user loyalty. CR offers reflective, analytical, and measurable data, which forms the foundation of future strategies. Additionally, it ensures return on investment (ROI), which is critical for the business’s success.
Conversion ratio.
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