If you’re looking to estimate your website’s return on investment (ROI) B2B website conversion rates are the industry standard for measuring financial success. Whether your digital marketing efforts are composed in-house or by a reputable B2B marketing agency, conversion rate optimization is the key to a successful website.
By definition, conversion rate (CR) equals the percentage of conversions acquired out of the total traffic generated by your website within a given period. By dividing the number of qualified leads by the total number of website visits, you can find the average number of successful conversions your website attracts for every 100 visits. This conversion rate percentage offers a concrete, numerical value that represents the success your B2B website has seen in generating revenue.
(qualified leads / total website visits) x 100 = conversion rate percentage
What is your B2B website’s conversion rate? Is it a good conversion rate? If not, what can you do to improve it? We’ll discuss industry standards and best practices for B2B website conversion rates and how to ensure your website is set up for maximum ROI.
What is a good conversion rate?
The definition of a good conversion rate can vary across industries. For example, while B2C websites might expect a conversion rate of around 2%, B2B websites usually average about 3 conversions per 100 visitors or 3%. MarketingSherpa identifies the conversion rate values for each industry, from professional services at 10% to eCommerce at 3%. A successful conversion rate can vary depending on your specialty.
How can you improve B2B conversion rate?
Regardless of how your website was built, there’s always something that can be done to improve its conversion rate. Below are some of the most effective best practices to consider when optimizing your B2B website.
1. Deliver Fast-Loading, User-Focused Web Design
Avoid inflated bounce rates and abandoned carts by prioritizing a fast, helpful and persuasive user experience. Core web vitals such as the largest contentful paint (LCP), cumulative layout shift (CLS) and first input delay (FID) all help measure your website’s speed and time until prospective clients can interact with your website. The faster and easier your audience can interact with your brand, the more likely they will convert.
2. Invest in a Personalized Website
Before users convert, they’ll want to know what your business is and how it’s different from the websites they’ve visited previously. One way to ensure that your B2B company executes the perfect delivery on impact is through a personalized website tailored to your business’s brand voice and unique services.
3. Develop Clear, Immersive Content
While attention spans aren’t necessarily getting shorter, creating clear and immersive content is vital to capture reader attention. This is especially true when it comes to crafting product copywriting that sells. In addition, by keeping users engaged and interested in what you have to say, your prospects will travel deeper down the marketing funnel and increase your B2B website conversion rate.
4. Streamline Contact Forms
If you’ve ever had to fill out an online form, you know that the faster you can press the submit button, the better. Purposeful, streamlined contact forms that do most of the work for the user and only require the necessities are a must-have for a healthy conversion rate. By streamlining your contact forms, users will be less likely to give up at the halfway mark and more likely to smash that submit button. Need some inspiration? Check out our contact form!
5. Integrate Powerful Calls to Action
Have you ever visited a website where you weren’t sure where to go next? This is the hinge point of conversion rate optimization. Integrating powerful calls to action that instill interest and provide direction on where to convert is an integral part of improving the conversion rate on any website.
6. Create and Test Your Goals
Lastly, you should always create goals that accurately reflect your company KPIs using a reliable analytics tracking system like Google Analytics or Matomo. For example, if you’re looking to track revenue-impacting conversions, you’ll want to set your goals to record actions like purchases rather than phone number clicks. Most importantly, you should test every goal to ensure accurate data to analyze in the future.
There are many factors to consider when improving your website’s conversion potential. Contrary to popular belief, conversion averages vary greatly across business models and services. However, the basic best practices for conversion rate optimization remain constant. User-friendly web design, immersive content and powerful CTAs only scratch the service of CR optimization.