What is Conversion Rate?
Conversion rate refers to the percentage of visitors to a marketing campaign who take a meaningful action. These actions could be purchasing a product, filling out**, subscribing to an email list, or anything else related to a business goal. Conversion rate is often a key metric for digital marketing campaigns because it helps us understand the success of our campaigns and gives us information on how to improve them.
Pros: Conversion rates are a key metric for achieving business goals. It helps us understand the success of our marketing campaigns and provides us with information on how to improve our campaigns.
Cons: Conversion rates alone don't mean success. If we have a high conversion rate but our traffic is low, then we may miss out on more leads. Also, if we have a low conversion rate but we have high traffic, then we may need to rethink the attractiveness of our ** or campaign.
Which is more important: traffic or conversion?
While both traffic and conversion rates are important metrics for digital marketing campaigns, they can have different importance in different situations. In some cases, traffic may be more important, while in others, conversion rates may be more important.
When traffic is more important.
Traffic may be more important when we need to expand brand awareness or attract more potential customers. This could be when a new product is launched or when a brand press release is made. In this case, we may need to invest more advertising budgets or use more social** marketing to attract more visitors. We may also need to improve the attractiveness of our ** or events in order to attract more visitors.
When conversion rates are more important
Conversion rates may be more important when we need to achieve business goals. This could be during the sales season or when the product is **. In this case, we may need to improve the conversion rate of our ** or campaign to ensure that our visitors take meaningful action. We may also need to improve our products or services to ensure that they meet the needs of our customers.