Customer behavior may seem russian business email list unpredictable, but in reality, there is a certain sequence to their interaction with a website. A simple scheme includes visiting the site, selecting a product, adding to the cart, and placing an order. This scheme (sales funnel) describes a step-by-step process, with the number of users decreasing at each stage. Those who successfully pass through the funnel perform the target action, ensuring conversion.
Types of Sales Conversion
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There are two types of the indicator under consideration: general and staged. It is important to determine the conversion between the stages of the funnel and their relationship with the first stage.
The overall conversion rate to purchase is defined as the percentage of those who visited the site.
The conversion of sales funnel stages is determined by the characteristics of a specific business and the customer's route to making a purchase. Conversion to subscription, application and payment are calculated.
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Why Calculate Sales Conversion
Let's consider the tasks that can be accomplished by measuring this indicator:
Evaluating the effectiveness of marketing strategies
Measuring this indicator plays a key role in assessing the success of marketing tools and campaigns. Low sales conversion rates indicate the need to review the strategy and methods of attracting customers.
Optimization of advertising costs
Measuring the indicator in question makes it possible to determine the cost of attracting each buyer. This contributes to more efficient use of the advertising budget, determining the most cost-effective and effective channels of attraction, and improving the marketing campaigns being implemented.
Identifying vulnerabilities in the sales process
Conversion analysis is an effective way to identify weak points in the bidding process, determine the factors that influence the refusal or loss of potential clients. The obtained data provides a basis for conducting an in-depth analysis and making the necessary adjustments to the department's activities.
Improving customer service
Measuring conversion is a way to assess how well your sales team is meeting customer needs.
Monitoring and control of sales processes
Regular conversion analysis provides the ability to continuously monitor changes in sales processes. This method allows you to predict results, as well as take timely measures to improve the department's performance.