Customer conversion rate - improvement strategies and averages

In this article we discuss everything you need to know about customer conversion rates.

Shark Finesse
April 9, 2024

Customer conversion rate is a key metric in a business that measures the effectiveness of turning potential customers into paying customers. It is used to indicate the success of a company's sales and marketing performance. We will explore what a customer conversion rate is, how to calculate it, and some of the strategies to use to improve your customer conversion rates and averages.

Customer conversion rates are typically expressed as a percentage and is calculated by dividing the number of conversions by the total number of visitors or leads and multiplying it by 100. For example, if you had 1,000 visitors and 50 conversions, your conversion rate would be 5%. The higher your conversion rate is, the more successful your sales and marketing funnel will be.

Ways to improve your customer conversion rates:

One way to improve your customer conversion rates would be to ensure that your website and landing pages are user-friendly, visually appealing, and optimised for conversions. Use clear and interesting calls-to-action, minimise any distractions, and make the conversion process seamless and easy. A well-designed and optimised website can significantly improve conversion rates.

Improving your website loading speed is another way to improve your customer conversion rates. A slow-loading website can lead to high bounce rates and lost conversions. Optimise your website's loading speed by compressing images and minimising the code if you can. A fast-loading website creates a positive user experience and encourages visitors to stay and convert.

Another way to improve your customer conversion rates is to tailor your marketing campaigns to specific target audiences and personalise the messaging to meet their needs. Use customer data and insights to create targeted campaigns that address the pain points and needs of your audience. Personalisation can enhance engagement and increase the likelihood of conversion.

Building trust with your potential customers is another great way to improve your customer conversion rates. One way to do this is to showcase your business on social media by posting customer testimonials, case studies, and reviews. Display trust badges and security certifications (if you have these) to assure visitors that their information is safe. Establishing credibility can minimise concerns and increase conversion rates.

Ensuring that your customer service levels are to a high standard is another effective method for enhancing customer conversion rates. Responsive and helpful support can help build trust and confidence in your brand and therefore leading to more potential customers buying from you.

What we do

At Shark Finesse we have developed an enterprise-grade cloud application to help businesses standardise and simplify their value engagements across the entire customer journey.

Shark, a business value engagement platform used by 1000’s of customer-facing teams globally (e.g. pre-sales, sales, value teams, and customer success) is easy to use, intuitive and usable directly with the customer to negotiate the likely business returns from investing in a solution.

By adopting the Shark approach you will fundamentally transform conversations with new and existing customers, close more business, and differentiate from the competition.