Bottom line is that the bottom line matters. As hard as it may sound, let us face it that there is an elephant in the room that nobody in your digital marketing team wants to talk about. May the truth be said that traffic building though challenging amounts to nothing if the traffic is not converted? Take this statistical data. If you are able to increase your conversion rate from 1% to 2%, you are essentially going to end up doubling your sales revenue.
Ace digital marketing guru Neil Patel in one of his writings asserts that the statistics for the conversion rates of industry verticals accruing from Facebook advertisement campaigns point to an average conversion rate of 9.21%. Citing this as the reference he further asserts that in comparison to Facebook advertisement campaigns the conversion yield from websites has a measly average rate of 2.35%. What could be the enormity of the challenge of conversion rate optimization then?
Conversion is the single most important pain point and the ball stops rolling here. Needless to say then, that the conversion rate of your website is probably one of the most important indicators of the sales funnel of your brand and undoubtedly the most challenging one as well.