Question of the day: What exactly is conversion?

Jocelyn breaks down the different meanings of conversion and how to track it in your business.

Today’s Top Takeaways:
Conversion can mean a bunch of different things depending on what you’re talking about.
Conversion matters in all businesses because if you are not getting any conversion, you will not see sales.
There are a few different ways conversion works. If, for example, you’re setting up a website, you want conversion for button clicks or subscribers to your email.
On every page of your website, there is a reason someone would be there. What is that reason? If they don’t complete that action, they don’t convert.
You want to make sure you’re working on your user experience so it’s easy for your users or prospects to take the next step.
If you’re in a Facebook group and talking to various people, you would want them to convert to something that’s in your network. Once they’re there, you want them to convert into someone that buys from you. That’s what conversion means: that action between one set of things to the next set of things for your business.
When people talk about sales funnels, they are just talking about the journey the prospect is taking before they sign up to your service or buy a product.
To track conversion, you need to look at your conversion rate. If you send 100 emails with a booking link and only 50 of them book a call, that’s a 50% conversion rate, which is pretty good- that’s pretty good. Then, you set up 50 meetings and only 25 people actually show up, then that means you have a 50% conversion rate for meeting show. This will go on as they go down that funnel from the start of your prospecting to having them pay for a service or buy a product.
The cost per conversion is the total cost paid for an advertisement, email, or prospecting in relation to the buy in.


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