Conversion rate tool
How to use this tool
This FREE tool is a great way to see the impact of improvements on Key Performance Indicators such as conversion rate, number of sales, and revenue by month and year.
Conversion rates are affected by a wide range of factors and average conversion rates differ from industry to industry. However this tool is a fun way to test how small improvements can make big chnages to the success of your website.
See what information you need to start, then read the notes for instructions.
What you need to start
- The current 'unique' monthly visitor numbers obtained form your Google Analytics account.
- The average value of a sale in your business across a 12-month period.
- Your current website conversion rate
If you don't have any of this information or are not sure how to obtain it, read on for help and advice.
- Visits per month
This is the number of unique visits to your website every month. You can find the figure easily on your Google Analytics dashboard. If you have a filtered version that excludes visits from your own computer or people in your company, use this for greater accuracy. Get in touch if you need help setting this up.
- Average sale value
Many of you will know this figure straight away, but if you don't, its your total annual revenue divided by the number of individual sales you've made.
- Conversion Rate
If you run a transactional Web site then your Conversion Rate can be found in the Conversions>Ecommerce section assuming you have this set up. Get in touch if you need help setting this up.
If you have a lead generation site, then you will need procedures in place to track website enquiries through to sales. Get in touch if you need help setting this up.
If you don't have either of the above then its highly likely that you don't have a formulised online marketing strategy in place and for this reason you won't be converting more than the industry average of 0.5%-1.5% depending on the sector. You can use either of these figures as the objective of this FREE Tool is to show the impact of incremental conversion rate improvements on sales revenue.
- Number of sales
This field is calculated automatically from the following calculation: Unique Visits x Conversion Rate = Number of Sales
- Monthly revenue
This field is calculated automatically from the following calculation: Ave £ Sale x Number of Sales = £ value per Month
- Annual revenue
This field is calculated automatically from the following calculation: £ value per Month x 12 months = £ value Annual