Are your landing page conversion rates high enough? Do you know what your industry conversion rates are? What should the conversion rates for your ads be?
If you don’t know the answers to these questions and you haven’t set rate goals, you could be wasting money on your conversion campaigns. Without setting some benchmark goals, you may be running on a road but getting nowhere fast.
Setting benchmark goals for your conversion campaigns is an essential preliminary action to ensure you know what rates you are trying to achieve. Use industry benchmark data to set your goals and compare how you are doing against your competitors. These goals will act as guide posts to help you decide what to focus on and when to move on from testing and tweaking specific campaigns.
To help guide you, we put together a comprehensive Conversion Optimization Benchmark Report that lists the average conversion rates for the most important marketing channels such as landing pages, website forms, in-content CTAs, paid traffic (Google Adwords and Facebook) and email marketing. We also outlined industry-specific conversion rates as well since your rates will vary depending on the industry you service. You can download this report here.
Here are some of the key takeaways:
How are Your Landing Pages Converting?
Landing pages consist of opt-in pages, webinar registration pages, event signups, waiting lists, reservations and any other page that includes a scenario where you are requesting personal details from a visitor to capture a lead.
According to LeadPages, a good opt-in page can convert up to 20-25% while a good webinar registration page can convert at 30%.
However, your industry also plays a part. If you are in the travel industry, conversion rates top out at around 25%. But, if you are in the health or home improvement industry, your top conversion rates may be lower, around 11-15%.
According to the benchmark report, the average conversion rate across all industries for Google Adwords search and display ads is 2.7% (leads and sales). How do your conversion rates measure up?
Keep in mind that advertising conversion rates are far lower than lead generation rates. The reason is because people who see your Google ads are also experiencing a flurry of additional ads and websites, and your ad is competing with these other pieces of content. With landing pages, users are faced with only one decision, whether or not to enter their information and click the call to action. Due to less clutter and more focused messaging, landing page conversion rates will be higher.
Your sales ads will also convert far lower than your lead ads. This is because with a sale, users are spending money, a valuable commodity, and with a lead, they are only giving you some personal information.
Running Facebook ads? The conversion rates for Facebook are a little different. The average conversion rate for Facebook advertising is 9.21% across all industries. Again, your industry will play a part in your rate. The fitness and finance industries convert higher than the retail and auto industries. To accurately compare your rates and set specific goals, research your industry rates instead of just relying on the total averages.
Get the Full Report Here
The first step to launching a successful conversion rate campaign is to set some benchmark goals to identify where you are headed and compare against industry averages. Otherwise, you may never reach your full potential and lose leads and sales as a result.
In our comprehensive Conversion Optimization Benchmark Report, we listed average conversion rates for both the top industries and different online properties. To get instant access to this report, click here to download it now. Happy converting!