When it comes to measuring the success of your business, one of the most important metrics to consider is your conversion rate. A good conversion rate is typically between 2 and 5 percent, although the best brands can achieve even higher results. The average landing page conversion rate is around 2.35%, while the top 25% of sites convert 5.31% or more and the top 10% have 11.45% or more. It's important to note that conversion goals vary depending on the type of business, so conversions don't always mean an immediate sale.
Conversion rate optimization (CRO) is one of the fastest and most effective ways to convert your current web traffic into paying customers. Once you've clearly defined what a conversion is, you can measure it and calculate your potential customer conversion rate. Industry benchmarks can provide a baseline for a good conversion rate, but they can also cause unnecessary panic or unrealistic expectations. On average, SQLs (sales-qualified leads) have higher conversion rates than MQLs (marketing-qualified leads), since SQLs are further along in the buying cycle than MQLs.
The best conversion rates for landing pages were nearly 30%, while average conversion rates were around 4% across all industries. Google Ads mobile benchmarks show that the average conversion rate for Google Ads on mobile devices is 3.48% on the search network across industries. Companies that focus on CRO know that there's always room for improvement in their conversion rates. Sales are usually the ultimate conversion goal for most businesses, but there are usually smaller conversion goals along the way. According to research, the conversion rate from visitors to MQLs is around 5%.
The conversion rate from MQLs to SQLs increases to nearly 60%, and more than 50% of them reach the SQL stage. You can use simple methods to achieve this with CRO and answer “what is a good conversion rate by industry”.