Friday 5 Marketing Observations – What is a good Conversation Rate?
I just spent 2 days at the Online Retailer Conference & Expo. It lived up to its claim jam-packed with cutting-edge eCommerce insights, the latest trends, tech innovation and retail solutions.
The conference & expo Cover the entire customer lifecycle from data-driven marketing, CX, unified commerce and tech adoption to fulfilment and delivery.
These were plenty of discussion on Automation, Data & Machine Learning, Single Customer View & Experiential Shopping Experiences which I found interesting.
What is a Conversion Rate? What is a good Conversation Rate?
What is a conversion rate, and what does it really mean for you as a business owner?
In this guide, we’ll break down the definition of a conversion rate, show you the formula for calculating conversion rates, and help you identify whether your conversion rate is low or high.
At the end of the article, you’ll also find a link to our Conversion Rate Calculator to quickly help you unveil this mystery.
So let’s get this out of the way first. The Simplest Definition of a Conversion Rate – A conversion rate is the percentage of prospects or leads that take a desired specific action… So the higher the percentage of people taking that action, the higher the rate…
How do You Calculate a Conversion Rate? Conversion rate (%) = (Number of Desired Actions/Total Number of People) x 100)…
What is a Good Conversion Rate? A “good” rate is all relative. Across industries, the average landing page converts at a rate of 2.35%, yet the top 25% are converting at 5.31% or higher. Source: Wordstream … Currently, Google Ads campaigns have been reporting average conversion rates of 3.17% on the Search network and 0.46% on the Display network. Source Engine Watch: …
From insights to intent: Why Search is more valuable than ever in Australia
Google’s mission has always been to organise the world’s information and make it universally accessible and useful. With trust, transparency, and user control as our guiding principles, the Google Ads team has that exact same goal. Here, Nick Love, head of performance at Google, explains how Search can help marketers be there, be useful, and be responsible as consumer expectations and technology continue to evolve.
In 2000, we introduced Search ads to the world with a simple offer: “See your ad here.” The format revolutionised the way businesses serve ads to consumers and gave them the ability to compete on a global stage for the first time. The ads were successful because they were based on what users were searching for.
In Australia, smartphones are now the primary means of accessing the internet, with 89% of Aussies owning a smartphone, compared with 76% who own a laptop and 52% who own a desktop. Deloitte Mobile Consumer Survey, June 2018…
Google partnered with MtM to conduct a study where participants refrained from using Search for two weeks. They found… Search is timely – Search is timely, Search is creative – Be useful: Engage intent with useful formats, Search is intelligent – Be responsible: Meet and engage intent at scale
I love this quote – effectively reaching consumers is “no longer a measurement problem, it’s a taking action problem.” Peter Fader, a Wharton marketing professor and customer lifetime value master… So we need to learn to understand consumer intent and turn engagement into insights…
In Part One of this two-part post, we gave you some definitions and comments for terms we use here every day. I broke it into two parts because it was getting really freakin long. So, please check out Part One when you have a chance. In the meantime, here is the rest of our list of Web Design and Development terms we wish you knew…
I’ve been doing Digital Marketing for more than 10 years & still occasionally have to look up words I have no clue what they meant…
I use HEX Colour every day. I knew I referred to Colour, but I wasn’t sure of the real definition… “A hex triplet is a six-digit, three-byte hexadecimal number used in HTML, CSS, SVG, and other computing applications to represent colors. The bytes represent the red, green and blue components of the colour. One byte represents a number in the range 00 to FF (in hexadecimal notation), or 0 to 255 in decimal notation. This represents the least (0) to the most (255) intensity of each of the colour components.”5
I often use SERP, but I do not know what this stands for… Stands for Search Engine Results Pages. These are the pages served up to users when they query a search term in a search engine, such as Google…
Ryan Deiss on the End of Marketing As We Know It (And I Feel Fine)
There is a huge event happening that directly affects digital marketers, agencies, entrepreneurs, and founders.
As Ryan Deiss pointed out during his opening keynote at the Traffic & Conversion Summit 2019, change occurs in a cyclical pattern. Just like the seasons change, the world of marketing is changing in phases.
And right now, we’re at the end of a cycle—which means the opportunity for innovation and disruption is the largest that it’ll be for years.
I went to the Traffic & Conversion Summit in San Diego a couple of years ago; I say it’s one of the best marketing conferences I’ve been to (I’ve also done virtually during COVID-19) …
I like how he explains Technology Phase 5: Innovation Or Disruption… In the final stage, the company that was once on the cusp of the brand new has become so normal, so part of the every day that the companies that own them become comfortable and the level of competition that once existed goes away. This is a crucial stage because there are only 2 directions to go: avoiding or embracing innovation… are you embracing innovation or avoiding it?…
The question digital marketers are asking themselves today is, do we innovate or disrupt?… 2019 is the year that US digital ad spend will surpass offline ad spend. Digital marketing is disrupting the world of marketing. Ryan believes the future of digital marketing belongs to companies that are willing to invest in real-time, one-to-one interactions. Think about that…
Zuckerberg responsible for Facebook privacy compliance after $5bn FTC fine
Facebook pays a record fine after breaching users’ privacy, following settlements with Federal Trade Commission and Securities and Exchange Commission
Facebook has reached settlements with US government regulators after investigations into the company’s controversial data-sharing practices.
The social media giant has agreed to pay the Federal Trade Commission (FTC) a record $5bn fine as part of a 20-year settlement order.
This is the largest fine ever imposed ( it’s almost 20 times more than the last case) on a company for violating consumers’ privacy rights… But US lawmakers and the regulators have criticised the FTC for failing to go far enough…
“As part of this settlement, we’re bringing our privacy controls more in line with our financial controls under the Sarbanes-Oxley [also known as the Public Company Accounting Reform and Investor Protection Act] legislation,” … “Our executives, including me, will have to certify that all of the work we oversee meets our privacy commitments.” Mark Zukerberg Facebook…
Facebook CEO Mark Zuckerberg will be personally responsible for the company’s data protection practices, having to report to the FTC every three months to prove that user data is being safeguarded adequately. So we can expect changes in Facebook Marketing… “Going forward, when we ship a new feature that uses data, or modify an existing feature to use data in new ways, we’ll have to document any risks and the steps we’re taking to mitigate them,”
