About digital marketing service, pay-per-click (PPC) advertising has shown to be very effective, with an average return on investment (ROI) of $2 for every $1 invested. Advertisements may be shown at the top of search engine results pages, on social networking websites, and on several other websites and platforms as a consequence of this Influencer Marketing service. The conversion rate of a PPC campaign is one of the most important factors to take into account when planning a campaign. This is the percentage of customers who perform the targeted action, like making a purchase, after clicking on advertising or a link in an advertisement.
In PPC advertising, the amount of money you earn from each click is inversely related to the amount of money you spend on each click. In this post, we’ll answer all of your PPC-related questions, including the ones listed below:
- Do you have a formula that you utilize to calculate your PPC conversion rate?
- What do you consider a fair conversion rate for pay-per-click marketing?
- To boost your conversion rate, what tactics can you employ?
The Ventcube team has managed more than 650 PPC campaigns for customers over its tenure as a prominent PPC management company.
Is your conversion rate that important?
You begin to ask, “Is my conversion rate that important?” the more you think about your conversion rate, as well as what constitutes a “good conversion rate.” Both yes and no.
You may examine your conversion rate from various angles, just like you would any other digital marketing measure. This is because conversion rate optimization (CRO) might result in a flood of unqualified leads.
The situation in which you increase your conversion rate at the expense of lead quality, although not always the case, highlights the significance of including lead quality in your conversion rate optimization approach.
The conversion rate of qualified leads should be higher than the conversion rate of any information.
Concentrate your efforts on testing and modifications that will attract your perfect lead or consumer rather than anybody else in your target market. Consider your findings and consider how they influenced the experience of qualified leads instead of the knowledge of everyone who visited your site and participated in the trial.
When you devote this level of attention to your conversion rate, you may increase the accuracy and value of your results.
Collaborate with a company specializing in conversation rate optimization, such as Ventcube. You can be confident that our staff will devote its efforts to increasing your most valued audience members’ conversion rate since this will drive your company’s growth.
What is a Good Conversion Rate?
A healthy conversion rate is between 2 percent and 5 percent,27 according to traditional knowledge. If you’re now at 2 percent, an increase to 4 percent seems to increase in performance significantly. You have more than doubled your conversion rate! Congratulations, but you’re still stuck in the middle of the pack when it comes to performance.
Our research began with all of the accounts analyzed and worked our way back three months. We eliminated accounts that didn’t have conversion tracking set up correctly, accounts with low conversion volumes (less than ten conversions per month), and accounts with low click volumes (less than 100 clicks per month), leaving hundreds of accounts for further investigation. After that, we mapped the accounts to see where they fit in the conversion rate.
Conversion Rate by Industry
You may be thinking, “But conversion rates in my industry are poor.” That is a distinct possibility. We looked at conversion rate statistics by industry (e.g., legal conversion rate, eCommerce conversion rate, etc.) to determine whether these findings applied to all marketers. Here’s what we discovered after investigating four key industries:
There’s a lot of movement there; e-commerce conversion rates are much lower, particularly when compared to the banking industry. Check out the Top 10 Percent Conversion Rates, on the other hand. The rule applies across all sectors since they are 3 to 5 times greater than the average for each one.
For those in high-performing industries such as banking, on the other hand, a conversion rate of 5 percent is not very impressive. While comparing your performance to the average across all sectors, you may be leading yourself to believe that your performance is superior to what it is. In reality, the wealthiest ten percent of the population is doing almost five times better than the rest.
Even though the typical conversion rates in your sector are lower than the national average, the best marketers exceed you by a factor of 3-5 or more.
Converting on display is a whole other beast; conversion rates will be far lower in most cases. To produce designer-quality ads for usage on the display network, you may utilize a tool such as our Smart Ads Creator to help you achieve more clicks and conversions.
Steps to Increase Your PPC Conversion Rate
1. Create Better Landing Pages
When someone clicks on your PPC ad, they will be sent to your landing page, which will provide them with their first impression of your company. Thus, it is one of the most critical aspects that influence the conversion rates of paid search campaigns. As a result, it is essential to optimize it to increase conversions.
When creating a landing page, you must have a precise aim in mind from the beginning. Decide what action you want visitors to do when they arrive at your site. Create a landing page to assist you in driving that action. For example, if you display several different deals, there is a possibility that visitors would get confused. You must develop unique landing pages for each of your PPC offers.
2. Know Your Current PPC Conversion Rate
Before you can begin to improve your PPC conversion rate, you must start monitoring it to understand where you now stand. Additionally, you may better understand how your activities are producing outcomes.
To do this, you need to begin monitoring all of the conversions that you get from your current PPC advertising efforts. If you’re running your ads using Google AdWords, you’ll be able to acquire all of the information you need. Monitoring your conversions will assist you in determining the conversion rate of each campaign you run.
3. Analyze and Optimize the Purchase Funnel
People may pursue a variety of routes to reach the ultimate step of making a purchase. The majority of them are likely to follow the traditional conversion funnel, which begins with brand awareness and acquisition.
However, there might be a variety of various paths that individuals can take as they go through the sales funnel. Figure out which pathways are being used and how they are being optimized. This will help you enhance your PPC conversion rate.
5. Improve Your Ad Quality Score
The improvement of your ad Quality Score has the potential to increase your PPC conversion rate dramatically. The reasons for this are straightforward:
- The decrease in the cost per click (CPC) enhances the reach of your campaign.
- This metric tells you how well the total ad experience is going for the visitor.
You may enhance the Quality Score based on the characteristics listed above by doing the following things: You may improve the Quality Score based on the factors listed above by doing the following items:
- The landing page should be improved in terms of the user’s experience.
- Make use of the appropriate keywords.
- Create ad text that is of excellent quality.
- Ensure that the ad groups are correctly organized.
- Concentrate on the quality of the advertisement while targeting the appropriate target demographic.
- Align your ad wording with the information on the landing page.
- Maintain the organization of your AdWords profile.
When your Quality Score rises, you will have a greater chance of receiving more clicks and converting more customers from your PPC advertising campaign.
6. Invest in Remarketing
Reciprocal marketing is one of the most effective strategies for getting the most out of your PPC ads and increasing your PPC conversion rate. It entails re-displaying advertisements to consumers who have previously shown interest in your business but have not made a purchase.
This strategy may assist you in regaining their attention and may even encourage them to purchase. Because they have already shown an interest in your brand and product, there is a significant probability that you will be able to pique their interest once again swiftly.
Keeping track of your conversion rate is essential if you are conducting PPC advertisements to determine whether or not they are doing successfully.
You should optimize your landing page and ensure that the ad text matches the landing page to enhance it. Additionally, it would help improve your Quality Score to make the most use of your available resources and money.
Negative keywords should be excluded from your PPC Management Service in Delaware to increase your conversion rate. Finally, you may employ special offers and keywords similar to your rivals to boost your chances of converting even more visitors.