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Article

Spartans, Gladiators & Digital Success

Optimizing "Conversion rate" is an ongoing process. To ensure success, it's important to understand the key elements and strategies that drive higher rates. Learn about Conversion rate today and start optimizing your results!



Conversion Rate Optimizing

What is 

Conversion Rate

Conversion rate is an important concept in the marketing world -- and can mean the difference between success or failure for any business. In a nutshell, it refers to the percentage of website visitors who take a desired action after landing on your website. This could be anything from making a purchase, subscribing to your newsletter, downloading a free guide, or scheduling an appointment. Each of these actions are referred to as 'conversions', hence conversion rate being how many people complete those conversions out of total visitors.

Think of it like this: if the goal was to make ten purchases through advertising campaigns directed at 100 people you would measure what percentage resulted in successful purchases. That number would be your conversion rate – ten divided by one hundred makes 10%. If that's too math-y for you, think about conversion rates like spartans or gladiators on their quest for victory: with each step they protect and defend their cause against those who oppose them along the way before ultimately claiming the spoils of war!

In other words, getting customers on board is one thing but staying within budget and achieving great ROI is another; understanding effective ways users interact with websites can identify key opportunities for improvement and potential growth which depend on maintaining an acceptable level of customer conversions - think quality over quantity! Reaching better levels often comes down to tweaking strategies around layout, content type & positioning based upon user behaviour metrics such as scroll depth & click path analysis so tracking performance numbers become insanely valuable when setting annual goals & measuring progress accordingly!

Overall, tackling new digital challenges while managing clients’ expectations all boils down to close consideration focused customer metrics such as average session duration & abandonment rates helping to define clear objectives centred around consistently high conversions driving return visits and loyalty generation. Just remember regardless of whether marketers want more subscriptions or higher sales nothing beats cranking up that ever-important conversion rate stat every bit helps!

How you can leverage it in your business

  1. Understand what affects your conversion rate: Analyze the impact of makreting spends and initiatives on your website’s conversion rate, paying attention to how product page design choices, e-mail campaigns and inbound links affect it.
  2. Segment data for greater accuracy: Use different criteria such as location or source channel to slice the data further; seeing which of these segments gets higher converions can help optimize each segment accordingly without risking uniformly implemented changes that could lower the overall performance.
  3. Optimize key pages driving traffic: Natural search engine results can significantly increase traffic but when optimizing a targeted landing page one should adjust elements such as headlines, call-to-action statements, layout or content depending on the audience being targeted in order to reach an optimal conversion rate.
Conversion rate is an essential part of marketing operations that helps businesses optimize their strategies and maximize revenue by driving digital success through tracking customer responses and fine-tuning campaigns to fit individual behavior.

Other relevant use cases

  1. Click-through rate (CTR)
  2. Bounce rates
  3. Cost per lead (CPL)
  4. Page views to conversion ratio
  5. Shopping cart abandonment rate
  6. Subscription completion rate  
  7. Lead generation rate
  8. Email sign ups or subscriptions
  9. App downloads  
  10. Event registration

The evolution of 

Conversion Rate

Conversion Rate

The concept of “conversion rate” has been around since the advent of marketing, although the term hadn’t been coined until the early 1960s. To understand how it developed, we have to look at what came before.

In its most basic form, marketers had always believed that if they could make contact with their customers or reach a certain audience size, they would secure sales and conversions. The goal was simply to increase market share and build brand reputation; there wasn't really any focus on tracking effectiveness and measuring results based on customer behavior.

It wasn’t until direct response advertising took off in the 1950s/60s – along with more sophisticated technological capabilities – that metrics for conversion rates started to become available. This marked an evolution in marketing, as companies were now able to gain insights into customer responses from campaigns and fine-tune them accordingly. Over time, this data analysis continues to evolve as businesses take advantage of big data technology and advanced analytics capabilities to create targeted approaches tailored specifically for individual customers.

Today, conversion rate is used increasingly across sectors but particularly in ecommerce where it has a decisive role in driving digital success for businesses large and small alike. And as marketers recognize this importance, tools such as AI (Artificial Intelligence) are being utilized more frequently to optimize their internet strategies and maximize conversions. As such, optimization is becoming even easier and removed from manual processes thus lowering costs associated with ineffective strategies while boosting revenue bottom lines at the same time.

As we move further forward into a world driven by tech-enabled dynamics, one thing's certain: conversion rate will remain an essential part of all marketing operations both now, tomorrow – and likely forever beyond!

Sweet facts & stats

  1. Studies show that a well-crafted website can increase conversions by up to 300%.
  2. Mobile conversion rates are 42% higher than desktop on average.
  3. According to a survey, over 56% of marketers claim personalised content can double their conversion rate.
  4. About 44% of companies increased their conversion rate thanks to testing different designs and layouts for their landing pages.
  5. The average email conversion rate ranges between 3%-10%.
  6. It is estimated it takes 7 touches before the average lead turns into an actual customer, thus emphasising the importance of high follow-up efficiency from sales reps in order to drive conversions.
  7. Of all traffic directed to a website, video content has the highest chance of converting someone - boasting nearly three times higher conversion rates compared to other marketing campaigns such as blog articles or product tutorials (almost 400%).  
  8. Even without technology, the Spartans were ahead of their time considering they had an astonishing 40-50% conversion rate!

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