Conversion rate is one of the main metrics Metrilo tracks for you. It appears on the Dashboard as an overall result for the selected period (it can be changed from the drop-down menu in the top right corner of the dashboard).
It is essentially the percentage of visitors to your web store who convert to customers, i.e. buy from you, and since this is your successful event, it is important to have a good number on that. Of course, a good rate depends on your industry, maturity of business, etc.
If you are a math geek, here is the exact formula conversion rate is calculated by:
Conversion rate = Total number of new customers (for the period given)/ Total number of visitors (for the period given)
You can see that the highest conversion rate (100%) can be achieved by getting everybody who visits your site to purchase. Sounds great, it’s nearly impossible, but you still need to do your best to push the number up.
The details to the right of the total conversion rate show it broken down by device – what rate users across devices have. One convenient additional stat you get is the rate out of all conversions so you can track which device brings you most customers and analyse the reasons for that.
In the example featured above, you may notice that both tablet and mobile make up for 10.34% of all orders each, but tablet scores 1.44% for itself while mobile has only half – 0.63%. This means the number of orders the two devices brought in are the same in total, but people convert twice as much on tablet than on mobile.
These insights are valuable for you in more than one way.
- Optimization for mobile – low conversion rate on mobile might mean your site is not its best on a small screen/ not responsive enough and you lose potential sales.
- Desktop drop-out – this is still the primary device people shop from (although the others are quickly catching up) and if you are doing bad on it, well, maybe your whole UX needs some work. Make it easy for people to find what they are looking for and checkout with no fuss!
- Customer behaviour – if you notice very high conversion rates from tablet, it may be linked to the fact that people usually use tablets at night (check when those orders were placed) and offer time-specific deals – like a discount on that blanket they wish they had right now, browsing the internet in bed.
You can find info on your Conversion rate in several tabs:
- In the Marketing Performance tab, you can see in the summary at the top and then broken down by traffic source below.
- In the Email Performance tab, you see the conversion rate of email campaigns only. The cool things is you have it for every campaign separately, too.
- In the Product Reports tab, you are able to see a conversion rate for each product when you click on Details.
Since it’s a main metric of your web store performance, keep a close eye on it and test different methods of boosting it. Metrilo wishes you 100% conversion rate!