Focus on the effect of AI on conversion rate and its calculation

The conversion rate reflects the trace of visitors to a website. By describing the actions and frequency of the users, they are used to achieve the purpose of the marketing site.

What is it about?

This is the percentage of visitors to a website performing certain actions This visit is recorded whatever the purchase, subscription, product selection, download.

Just as there can be multiple actions on a page, the conversion rate can change in a matter of moments. Such versatility will vary from page to page and even product to product.

Companies aim to significantly increase this conversion rate. This is really understandable, because a higher conversion rate means increased sales and on-page action.

How to calculate conversion rate?

The easiest way to calculate the conversion rate is probably the following. It will suffice to divide the conversion numbers by the number of interactions on a site. Let’s take a specific example of a company that started an ad campaign on Facebook. The page administrator decided to sell the Irish sweater and the publication attracted 1000 visitors. And if about 40 of these visitors buy sweaters, the conversion rate is 4%.

Depending on the specificity of a company’s actions and goals, the conversion rate will vary. So users need to follow the movement properly. Automated calculators have been developed for those who are tired of counting all the time.

There are also 3 types of conversions: total conversions, customer conversions and customer conversions. Repeating the Irish sweater sale advertising campaign on a Facebook page, we can illustrate these 3 conversions.

The Total conversion rate The number of unique visitors divided by the number of visitors with one conversion will be equal to 7

As Customer conversion rate, This is equal to the number of unique visitors divided by the number of new subscribers.

Finally, Customer conversion rateFor its part, the number of unique visitors divided by the number of new subscribers will be equal.

These indicators are most important for commercial sites. With Google Analytics, administrators of marketing pages can access more detail in terms of conversion rates. It is actually a powerful tool for tracking visitors to marketing sites or platforms.

Different parameters affecting the conversion rate

A / B test

A / B tests are usually chosen by companies to be able to compare options. Its useAdoric Determines how the conversion rate responds to changes at the website level.

Type of display

The test gives the possibility to test the type of ad that works best, be it popup or inline ad.

Opportunity

Companies do not lack imagination to attract their customers. The best bait is discounts, offers and discounts. But not all discounts are equally attractive. The fact is that the 10% discount increases the user interest more than any other number. Similarly, the free shipping offer works effectively for new customers or clients.

Title

The title also makes it interesting Conversion rate On a given site. Playing with the effects of characters, shapes, colors and fonts gives undoubted advantage.

Button color

As I said before, there is power to play with fonts. That way, choosing bright colors or CTA buttons will affect it Conversion rate.

Trigger moment

Sometimes, when you click a button, the site activates a specific countdown before opening another page. Waiting moments allow the site to hold the viewer’s attention for a few seconds. This presence will logically affect the conversion rate. It is highly recommended.

Average conversion rate

The average conversion rate typically describes the average “visit” of a site between 1% and 3%. This statistic indicates that a certain number of users only come to visit the site and will not perform any specific action.

The main purpose of marketing sites is to focus on increasing conversion rate and unique visitors. But to be realistic, this statistic will not really reach 50% and certainly will not reach 100%. However, it is possible to significantly increase them to get close to 50%.

How to recognize a good conversion rate?

We can determine if a conversion rate between 2% and 5% is good. Currently, the big brands have the best conversion rates.

Conversion rate tracking device

7 will show a conversion rate tracked number across different devices The rate will actually vary from device to device. On a desktop computer and a tablet, the rate will be higher than on a mobile device The thing is, mobile devices don’t convert as well as desktop users. The explanation given is based on the notion that mobile device users are less attentive.

How to improve conversion rate?

So how can this rate be increased? Here are 5 ways to improve.

Offer a new personalized offer

Personalized offer work. Customers are often tickled by rapid declines. In addition to discounts, if a site offers free shipping, you can be sure that purchases will increase.

Turn off shopping cart abandonment for your convenience

When the customer selects one or more products at a sales site and abandons the thus filled basket without paying. The reasons may be different. However, first it is possible to fight it by simplifying some methods. In other cases, offering multiple payment options or adding an SSL certificate may prevent the customer from abandoning their purchase.

Advanced marketing strategy

Rarely will users buy at first sight. This will require strengthening the marketing strategy. Customers need to gain trust so that they can express themselves. So the question of advertising to those who have already visited the site in the past.

Don’t be discouraged by checking a few times

Of course, after testing and testing, one may pass the stage of despair, but one should not be discouraged. The smallest detail is important and patience often bears fruit. Run regular A / B tests and see changes over time.

Increase customer support

Promoting good customer support greatly increases a site’s conversion rate. The following actions can help a lot: the presence of frequently asked questions, clarity of pointers, and live chat. The latter could halve revenue and increase conversion rates by up to 40%.

Artificial intelligence positively affects the conversion rate

Several companies are now using the benefits that AI offers to increase their turnover as well as conversion rate. According to Boston Consulting Group, the automation, data analysis, support that AI offers has already paid 14% to the company. Artificial intelligence has indeed been able to provide solutions to sales companies in times of crisis.

Artificial machines in human service

AI can be used to study user market or non-market behavior. A large portion of the data collected is analyzed to offer personalized and authentic services. On the other hand, the best solution that AI has provided is the ability to solve problems based on current data and situations. These machines adapt to every moment and make it possible to find answers to frequently asked questions.

In terms of sales, online service offers have grown exponentially since the crisis. Food delivery services, digital online movie streaming, fitness services, things that can make life easier during this time have improved.

Advantages of AI

AI makes it possible to optimize the customer experience for quick and efficient solutions that companies can offer.

Another advantage is the hyper personalization illustrated by the Starbucks example. With each purchase, customers earn points by creating personalized offers. This strategy has increased sales statistics by 300%, predicting continued purchases by motivating and rewarding buyers.

In addition, the ability to respond quickly to customer requests and needs through AI technology also affects conversion rates. More and more companies are benefiting from automated support to reduce the waiting time for their customers. Amtrak’s example has been able to satisfy 30 million passengers per day with an automated customer service called “Julie”.

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