Achieving a good conversion rate is essential for any business, as it places them among the top 10% of the world's best advertisers. But what is a good conversion rate? Across industries, the average conversion rate for landing pages is 2.35%, while the highest 25% have a conversion of 5.31% or more. The average website conversion rate across all industries is 2.35%, however, the top 25% are converting 5.31% or more. For vehicles, the conversion rate is 7.89% (search networks) and 0.51% for display networks.
The flip side, of course, is that if you're in a high-performing industry like finance, 5% isn't really a fantastic conversion rate. To move your landing page conversion rates from average to incredible, you must clearly convey value, reduce risk, take advantage of scarcity and urgency, eliminate distractions and reduce friction. Finding a way to remove one or two fields from the form could have a big impact on your conversion rate. It's also essential to consider the pricing and specific features of your products when trying to determine if your conversion rate is reasonable. Before you worry about conversions, you'll first need to get potential customers to your landing page. Optimizing the conversion rate allows you to take advantage of every penny of your investment in PPC by identifying that sweet spot that convinces a good number of visitors to take action.
Improving your average conversion rates is vital to improving your ROI and getting the most out of your online marketing budget. The result was a 5% increase in their conversion rate, as users were visually less overwhelmed when looking at the form. There's a lot of flow there; e-commerce conversion rates are much lower, especially compared to finance. Therefore, while the average conversion rate of the 10 industries is around 4%, the companies that stand out are those that refuse to reach an agreement.