Why Ambitious MDs Need A Website Traffic Conversion Rate Calculator
by Jo Shaer, on September 28, 2017
5 minute read
To get a true insight into the success of your website, ambitious MDs with aggressive growth goals need TWO vital pieces of data. Plus a website traffic conversion rate calculator to make sense of the information!
First is Traffic - How much does your website get?
Traffic is the number of visitors who find your website. It's a great barometer of how visible your business is online. And, of course:
No traffic = no sales
How to check website traffic
Log into Google Analytics. On the Home page, the first figure that you see will be for Users. This is the number of visitors who have landed on your site over the last 7 days.
That's your website traffic!
Scroll down underneath the graph and you will see a dropdown that allows you to choose either 7 days, 28 days, 90 days or the custom value of your choice.
How many visitors to my website is good?
1. traffic is just a vanity metric. Not all traffic is worth having because some of it will bounce away a few seconds after landing on one of your pages; and
2. website traffic is only of any value if those visitors then go on to do something useful.
Second is Leads - How many does your website get?
Your traffic needs to convert into leads by giving you some type of contact information. But this is much harder to measure on your website.
No leads = no customers
Because most of your website visitors found you after a Google search, your website has to provide information on the topic, product or service that they were searching for or researching about. Then, the tricky bit - you want them to become a lead.
Lead Conversion Type 1 - After reading the page they have landed on, any visitors who are ready to buy must be able to find:
- a phone number so they can speak to a sales person immediately; or
- your contact form to request a callback.
This is one type of website conversion because you get a phone number as part of that interaction.
Your sales people will need to keep a record of the number of calls they receive and also any callback requests via the contact form. These are website conversions.
Callback requests via the contact form are easy to measure manually by having them trigger an email to your sales team.
But be aware that it is hard to ascertain whether a phone call has been initiated as a result of a visit to your website. Even if you ask the caller how they found you, it can be unclear whether it was through organic search or a paid ad. Many will just say they found you on Google.
Lead Conversion Type 2 - Many visitors don't want to speak to a sales person. They haven't made the decision to purchase, they are still researching. Is your website offering something that's lower risk than a sales conversation?
Many websites supply a free ebook that educates your researching visitors about how your product/service can help solve their problem. Excellent, but...
If it is 'ungated' there is no way of either
- measuring who is downloading it
- capturing your visitors details so you can market to them later on
The clever MD will want to exchange the useful ebook for the email address of the downloader. He now has a way of contacting that potential customer with a discount or some other incentive in the future. Capturing an email address is also a type of website conversion.
The value of the website traffic conversion rate calculator...
It does all the maths for you! Trust me, you will be grateful for it...
If you know how many visitors are coming to your site and and how many of them are leaving their contact details, you can work out whether your website is doing its job successfully - getting the right people to visit your site and do something useful.
The ratio between the amount of traffic that you get and the number of people who give you some contact information (leads) is your website conversion rate.
Your website can be attracting loads of traffic but, if it all leaves the site without interacting in any way, then it has been a waste of time, money and effort.
Here is the maths:
Conversion Rate % = No. of Visitors (Traffic) / No. of people who gave their contact details (Leads) x 100
As an ambitious MD looking to grow your business, you should use this calculation to compare how well your website is performing month on month. Don't like spreadsheets? Use a website traffic conversion rate calculator.
Using a website traffic conversion rate calculator to predict revenue
The best conversion rate calculators allow you to play around with the figures and see some very valuable information about improved revenue.
For example, if you can increase the percentage of traffic that you turn into leads, it has two outcomes which will positively impact your bottom line:
1. You are not so reliant on continually increasing the number of visitors that come to the site - less budget required for Pay Per Click or organic blogging.
2. You have a much better chance of increasing the number of customers that your website generates... and that means more income and more profit
Take that one step further. If you can input the average lifetime value of your ideal customer, you can see how much more money you will make by tweaking your traffic and lead conversion figures.
Now wouldn't a website revenue calculator be a useful tool to have? No more wondering whether your website is bringing a return on that investment! Click the image below to try ours.