Myths of Online Conversions
I've been wanting to write for a while about digital ads and conversion rates because there seem to be so many assumptions without understanding how complex the answer is. Although, in short, you can simplify it by saying, "It depends." On the business. Its goals, revenue per conversion, etc.
But I came across this article today on The Myth of 2-3% Conversion that I thought was really well written, and still applicable despite having been written a lifetime ago in terms of digital marketing. In fact back in 2007.
More important than just touching on the myth of an "average" 2-3% conversion rate in paid ads, he goes on to talk about what might be right for a business. In the end, of course, it boils down to making more money from those ads than they cost. Enough, in fact, that you cover the ad costs, and all your business costs, and end up with profit. I mean, that is what business is for, yes?
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