Are your landing pages optimized to capitalize on the clicks they are generating? Or are users finding your page and quickly bouncing right off? AdWords keeps track of the basic statistics like number of landing pages and each of their click volume. But what you need to be looking at are the metrics that are measuring your optimization – how your pages are performing at the daunting task of lead generation and conversion.
A. Bounce Rate
This metric measures how many of your users leave the site after viewing only one page. It’s a very helpful – but depressing – landing page metric. It doesn’t show you what the users are being put-off by, but it shows that they are neither encouraged to stay on your page and navigate through the rest of your site, nor convert. Lowering your Bounce Rate, though, is directly related to increasing your Conversion Rate – they’re two sides of the same coin.
B. Conversion Rate
Once you’ve dropped your bounce rate and are once again collecting traffic through your pages, you need to be looking at what you’re doing with that traffic. Improving your conversion rates on a daily basis is what separates the great PPC campaigns from the average ones. Capitalizing on each opportunity your PPC ads give you is how you turn your traffic, into cash!
Now, how do you improve your conversion rate? What changes do you need to implement in order to take your traffic and transform it into conversions? Consider looking at this problem from the user’s eyes. What could be changed about their experience to make them more likely to convert and buy?
A good example of this is Directive Consulting’s solution to GPSTrackit’s issue with scheduling demos. The issue was the GPSTrackit’s CTA to “schedule a demo” was too high in friction and not converting into actual schedule appointments. Directive accounted for the displeased clientele and made adjustments accordingly.
Looking to improve conversions, they considered the user’s desires and were looking to please and delight them more, thus indirectly but powerfully increasing the conversion rate for GPSTrackit.
By switching from a “schedule demo” CTA to pitching 5 minute demo videos that the clients could watch on their own time, the conversions increased from 1.56 to 15%! Now that’s a big jump!
C. Close Rate
It’s important to still remain aware, however, of what happens if you then don’t properly align your offers with the services you provide. For example, giving away free products may increase online conversions but it won’t necessarily increase sales qualified leads or purchases. Making the right decisions to increase actual productivity is exactly why you need to be looking at the right KPIs, instead of chasing down red herrings.
Conversion Rate and Close Rate differ slightly on this point. Conversion Rate measures the number of online conversions divided by the number of clicks that can be traced to that given conversion. It gives you a percentage of how many of the users who click on your page are ultimately converting.
Close Rate, however, is concerned more with sales. While Conversion Rate can sometimes be confused by gated content downloads and information registries that qualify as “conversions” but don’t necessarily lead to increase in monetized sales, Close Rate is where you look if you want to see if a new addition to your campaign is directly putting more money in your pocket. Does your gated content piece for a free cup of coffee in exchange for an email actually lead to increased foot traffic and in-store coffee purchases from those repeat customers? Or not?