Social media and online paid advertising are highly targeted methods to direct traffic to your website. Have you ever wondered what your conversion rate to sales should be? Or how to improve each sales conversion stage?
Social media allows us to instantly direct a highly targeted audience into the beginning of the sales funnel. If your digital strategy is letting you down you could be sabotaging your own sales. Let’s look at two main online business models. E-Commerce and Lead Generation.
- Add to Cart bounce rate industry average 68%! Yes it is high what is your abandon cart rate tracking at?
- Average CPC industry average is $1. If your paying for online advertising what is the rate you are being charged for click through’s? How many organic click through’s are you achieving? This would be a ROI measurement on your social media strategy.
- Website conversion rate industry average 2-3%. What is your traffic to sale rate?
- Average Add to Cart Rate industry average 5-7%. What is your add to cart rate?
- Landing page conversion rate for opt-ins – needs to be min 20%. Is your hook enticing? Are you getting the right audience? What is your current opt in rate?
- Lead magnet to sales/strategy call conversion rate should be 5%. Are you following up with bookings? Are you subscribers converting to sales?
What tools should I be using?
Google analytics can track all of this data for you and more! It’s critical to monitor all of these checkpoints to see where your business may be experiencing bottle necks.
If your not tracking according to industry rates and would like to book a strategy session with us today. We can help you with the entire process or guide you through it.
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