What is Landing Page Conversion Rate?
Landing Page Conversion Rate is going to be fundamental for any business who cares to grow their online revenue.
Loosely defined, your landing page conversion rate is the percentage of visitors to your landing page who have taken action to your desired conversion.
Whether that be leads signing up for a free video-series, scheduled calls/demo’s, or good ole’ sales…
Calculating for Conversion Rate
Calculating for Conversion Rate is a pretty basic equation…
The equation is the number of conversions divided by the number of website/landing page sessions, it looks like:
(#) conversions / (#) website/landing page sessions = (%) website/landing page Conversion Rate
Straightforward really, the conversion is whatever your business deems the most important metric.
For E-Commerce businesses, it would likely be Sales generated. As for B2B, it would likely be scheduled demo’s/calls, leads or even closed sales.
Average Conversion Rate by Industry
Unbounce conducted a study of 10 industries, featuring 74,551,421 website visitors across the Landing Page Conversion Rate study.
They found the Average Landing Page Conversion Rate to be 4.02% across the 10 industries.
The lowest converting industry is Higher Education (2.6%) with a 3.9% swing to the highest converting industry, Vocational Studies & Job Training (6.1%).
E-Commerce Industry Conversion Rate Benchmarks
GrowCode put together a brilliant E-Commerce graphic below and sourced data from IRP Commerce so that we can see what benchmarks we can expect for each industry below.
The Baby & Child industry had the lowest Conversion Rate (0.99%), while there was a 2.8% swing to the best converting industry of Arts & Crafts (3.79%).
This should help your company get a good idea of the ballpark your landing pages or product pages should be converting at.
Why Do Conversion Rates Vary?
You might be thinking to yourself, if these are the benchmarks… what variables contribute to conversion rates plummeting or skyrocketing?
You’ll soon realize that not all conversions are of equal value. Which skews your conversion rate.
Things like free content downloads will naturally get higher conversion rates compared to a $1500 fridge.
Your quality of traffic is another variable to consider, as you may have low quality traffic coming in from Paid Ads.
If you have higher quality traffic, conversion rates will naturally be higher.
Breakdown core prospect biases to help improve conversion rates in advertising and on your landing pages.
As always, test. Keep in mind your conversion difficulty, as well as quality of traffic.
Iterate on your landing pages with quality data, as well as a quantity of data (don’t make knee-jerk decisions). Let the data dictate your decision making.