“what’s a good conversion rate?”
This is probably the most common question people will ask when they first start running ads and taking their landing page game seriously.
And while many people are wishing and hoping to hear a clear-cut answer to this so they know how they are stacking up against their competitors or industry, the real answer isn’t quite that simple and I’m going to explain why.
But before we jump into the answer, there are a few things you need to keep in mind when trying to quantify what a good conversion rate is for your business.
First: What do you consider a conversion?
Is that a lead, a sale, a download, or some other key performance indicator you’re looking to track?
A “conversion” can be a very different thing for each business even if those businesses are in the same industry. Let’s take a gym for example
But the real answer is a good conversion rate is a profitable one.
It doesn’t matter if that’s 2% or 82%. If you’re converting new customers at a profit, that is considered good. Then at that point, you can optimize your funnel or process to trim the fat on your customer acquisition costs and improve your conversion rate