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Step 2 - Quick Marketing Metrics
You've already completed the steps necessary to vastly improve your SEO & Paid Search campaigns, and you even have the proper tools and basic know-how to gauge the effectiveness of your campaigns.
In this step, we'll briefly highlight some significant marketing metrics for evaluating the performance of your landing pages, the first being the all-important conversion rate that we introduced back in the second step of Part 3: Understanding Your Site.
 Conversion Rate
When tracking conversions and monitoring your conversion rate, let's not lose sight of what the numbers actually mean. Below you'll see our recap of the conversion rate.
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Go back to the goals you've set back in Part 1 and see how your current conversion rate matches up with your short and long term goals.
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 What's a good conversion rate?
Though it depends on how you define each conversion, let's categorize conversions into (1) lead generation and (2) retail.
(1) Lead generation
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Average: The average lead generating site converts an average of 5 - 6 % of its visitors
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Benchmark: If your main conversions revolve around capturing new leads, 16 - 20% is a solid rate.
(2) Retail
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Average: Now, the avg. conversion rate for a retail site is between 1 - 2%.
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Benchmark: A retail site that converts in the range of 7 - 10% is doing quite well.
In view of these average conversion rates, it's plain to see that many people out there are not being persuaded well enough to click, buy, or reach your desired outcome. More...
 How to calculate your purchase conversion rate
Using your analytics software, locate the number of sales transactions during a given period and divide that by the number of unique visitors during the same period. Let's go over how to calculate your purchase conversion rate and what this number actually means. More...
 Lower Your Bounce Rate
How many people arrive at your landing page and then just bounce to somewhere else on the Web? As you already know, you have a very small window of opportunity to capture and maintain your visitors' attention. Here are a few insights on lowering your bounce rate. More...
 Cost Per Sale
Here's another metric to be aware of when assessing the performance of your overall Internet marketing campaign. How much is your average cost per sale? Review this sample case study and learn how to calculate it. More...
Keep in mind that a good average cost per sale depends on your business model and how much each customer is worth to you.
- How much will you earn from a single transaction?
- What kind repeat business to you anticipate from each customer?
- Would you consider taking a loss to secure the new customer if you knew that his business would generate much more money for your company in the long term?
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Unlock the full version of Step 2: Quick Marketing Metrics and accurately measure & track your ROI from online marketing.
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