It’s only natural for businesses to want to know how they compare with competitors, and that remains true in the manufacturing industry, as well. Many manufacturing firms want to know how they can accurately determine how they are performing against their peers. Learning how to correctly determine your B2B conversion rate, as well as how to optimize that rate, can help.
How B2B and B2C Conversion Rates Differ
First, it’s important to understand what is meant by the term “conversion.” Conversion can cover a broad range of user actions, including click-thrus and purchases. While business-to-consumer marketing conversions typically only include the number of sales completed, business-to-business conversions in the manufacturing industry can be far broader in nature. This is because a B2B marketing strategy may not necessarily include direct purchases, but will instead encompass some type of contact.
The reality is that most companies will not visit a manufacturing website, whip out their credit card, and purchase thousands of dollars’ worth of equipment or components. With that said, a large percentage will visit a manufacturing industry website and download technical specifications or initiate contact in some other way. This makes industrial SEO services vital for B2B conversion rate optimization. B2B conversion rates within the manufacturing industry typically fall somewhere within the 4 percent-to-8 percent range. It should be kept in mind that a company's actual conversion rate will vary based on a number of factors, including your specific industry, what you sell, your web page design, typical sales price, etc.
Determining the conversion rate for your manufacturing website might seem complicated, but it’s actually relatively easy. Ideally, your website should have a basic contact form as well as an acknowledgement page when someone submits an enquiry. Your website’s analytics program should tell you the number of times the acknowledgement page is displayed. So if your website receives 1,000 visitors and your analytics program shows that the acknowledgement page was displayed 10 times, your conversion rate is 1 percent.
If your online conversion rate is not as high as you would like, B2B conversion rate optimization can help. There can be many factors affecting your conversion rate, including the quality of your traffic. Remember that you cannot convert unqualified prospects. You must ensure that you are driving qualified, targeted traffic to your website.
The quality of your website can also affect your conversion rate. Confusing content as well as not having enough technical content, especially for a manufacturing website, can result in visitors choosing to leave your site quickly.
Consider the complexity of your calls to action. Prospects will usually give up if you make it too difficult to locate contact information or if your forms are too cumbersome. Most people simply do not have the patience to jump through a lot of hoops. Ensure that your visitors have a pleasant and easy experience, or you may lose them to your competitors.