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• Top Conversion Metrics to Track in 2024

  22 janvier 2024, par Erin

  2023 boasts  2.64 billion online shoppers worldwide ; that’s more than a third of the global population. With these numbers on an upward trajectory in 2024, conversion metrics are more important than ever to help marketers optimise the online shopping experience. 

  In this article, we’ll provide predictions for the most important conversion metrics you should keep track of in 2024. We’ll also examine how social media can make or break your brand engagement strategy. Keep reading to stay ahead of the competition for 2024 and gain tips and tricks for improving conversion performance.

  What are conversion metrics ?

  In technical terms, conversion metrics are the quantifiable measurements used to track the success of specific outcomes on a website or marketing campaign. Conversion metrics demonstrate how well your website prompts visitors to take desirable actions, like signing up for a newsletter, making a purchase, or filling out a form, for instance.

  Let’s say you’re running a lemonade stand, and you want to compare the number of cups sold to the number of people who approached your stand (your conversion rate). This ratio of cups sold to the total number of people can help you reassess your sales approach. If the ratio is low, you might reconsider your approach ; if it’s high, you can analyse what makes your technique successful and double down.

  

  In 2023, we saw the average conversion rate for online shopping grow by 5.53% compared to the previous year. An increase in conversion rate typically indicates a higher percentage of website visitors converting to buyers. It can also be a good sign for marketing teams that marketing campaigns are more effective, and website experiences are more user-friendly than the previous year. 

  Conversion metrics are a marketers’ bread and butter. Whether it’s through measuring the efficacy of campaigns, honing in on the most effective marketing channels or understanding customer behaviour — don’t underestimate the power of conversion metrics. 

  Conversion rate vs. conversion value 

  Before we dive into the top conversion metrics to track in 2024, let’s clear up any confusion about the difference between conversion rate and conversion value. Conversion rate is a metric that measures the ratio of website visitors/users who complete a conversion action to the total number of website visitors/users. Conversion rates are communicated as percentages.

  A conversion action can mean many different things depending on your product or service. Some examples of conversion actions that website visitors can take include : 

  • Making a purchase
  • Filling out a form
  • Subscribing to a newsletter
  • Any other predefined goal

  Conversion rate is arguably one of the most valuable conversion metrics if you want to pinpoint areas for improvement in your marketing strategy and user experience (UX).

  A good conversion rate completely depends on the type of conversion being measured. Shopify has reported that the average e-commerce conversion rate will be 2.5%-3% in 2023, so if you fall anywhere in this range, you’re in good shape. Below is a visual aid for how you can calculate conversion rate depending on which conversion actions you decide to track :

  

  Conversion value is also a quantifiable metric, but there’s a key difference : conversion value assigns a numerical value to each conversion based on the monetary value of the completed conversion action. Conversion value is not calculated with a formula but is assigned based on revenue generated from the conversion. Conversion value is important for calculating marketing efforts’ return on investment (ROI) and is often used to allocate marketing budgets better. 

  Both conversion rate and conversion value are vital metrics in digital marketing. When used in tandem, they can provide a holistic perspective on your marketing efforts’ financial impact and success. 

  9 important conversion metrics to track in 2024

  Based on research and results from 2023, we have compiled this list of predictions for the most important metrics to track in 2024. 

  

  1. Conversion rate 

  To start things out strong, we’ve got the timeless and indispensable conversion rate. As we discussed in the previous section, conversion rate measures how successfully your website convinces visitors to take important actions, like making purchases or signing up for newsletters. 

  An easy-to-use web analytics solution like Matomo can help in tracking conversion rates. Matomo automatically calculates conversion rates of individual pages, overall website and on a goal-by-goal basis. So you can compare the conversion rate of your newsletter sign up goal vs a form submission goal on your site and see what is underperforming and requires improvement.

  

  In the example above in Matomo, it’s clear that our goal of getting users to comment is not doing well, with only a 0.03% conversion rate. To improve our website’s overall conversion rate, we should focus our efforts on improving the user commenting experience.

  For 2024, we predict that the conversion rate will be just as important to track as in 2023. 

  2. Average visit duration

  This key metric tracks how long users spend on your website. A session typically starts when a user lands on your website and ends when they close the browser or have been inactive for some time ( 30 minutes). Tracking the average visit duration can help you determine how well your content captures users’ attention or how engaged users are when navigating your website. 

  Average Visit Duration = Total Time Spent / Number of Visits

  

  Web analytics tools like Matomo help in monitoring conversion rate metrics like average visit duration. Timestamps are assigned to each interaction within a visit, so that average visit duration can be calculated. Analysing website visit information like average visit duration allows you to evaluate the relevance of your content with your target audience. 

  3. Starter rate

  If your business relies on getting leads through forms, paying attention to Form Analytics is crucial for improving conversion rates. The “starter rate” metric is particularly important—it indicates the number of who people start filling out the form, after seeing it. 

  When you’re working to increase conversion rates and capture more leads, keeping an eye on the starter rate helps you understand where users might encounter issues or lose interest early in the form-filling process. Addressing these issues can simplify the form-filling experience and increase the likelihood of successful lead captures.

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  Concrete CMS tripled their leads using Form Analytics in Matomo—see how in their case study.

  4. Bounce rate

  Bounce rate reflects the percentage of visitors who exit your site after interacting with a single page. Bounce rate is an important metric for understanding how relevant your content is to visitors or how optimised your user experience is. A high bounce rate can indicate that visitors are having trouble navigating your website or not finding what they’re looking for. 

  Matomo automatically calculates bounce rate on each page and for your overall website.

  

  Bounce Rate = (# of Single-Page Sessions / Total # of Sessions) * 100

  5. Cost-per-conversion

  This metric quantifies the average cost incurred for each conversion action (i.e., sale, acquired lead, sign-up, etc.). Marketers use cost-per-conversion to assess the cost efficiency of a marketing campaign. You want to aim for a lower cost-per-conversion, meaning your advertising efforts aren’t breaking the bank. A high cost-per-conversion could be acceptable in luxury industries, but it often indicates a low marketing ROI. 

  Cost-per-Conversion = Ad Spend / # of Conversions

  By connecting your Matomo with Google Ads through Advertising Conversion Export feature in Matomo, you can keep tabs on your conversions right within the advertising platform. This feature also works with Microsoft Advertising and Yandex Ads.

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  6. Average order value (AOV)

  AOV is a conversion metric that calculates the average monetary value of each order. AOV is crucial for helping e-commerce businesses understand the value of their transactions. A high AOV means buyers spend more per transaction and could be more easily influenced by upselling or cross-selling. Low AOV isn’t necessarily bad — you can compensate for a low AOV by boosting transaction volume. 

  

  AOV = Total Revenue / Total # of Orders 

  Matomo automatically tracks important e-commerce metrics such as AOV, the percentage of visits with abandoned carts and the conversion rate for e-commerce orders.

  7. Exit rate

  Exit rate measures the percentage of visitors who leave a specific webpage after viewing it. Exit rate differs from bounce rate in that it focuses on the last page visitors view before leaving the site. A high exit rate should be examined to identify issues with visitors abandoning the specific page. 

  Exit Rate = (# of Exits from a Page / Total # of Pageviews for that Page) * 100

  

  In the Matomo report above, it’s clear that 77% of visits to the diving page ended after viewing it (exit rate), while 23% continued exploring. 

  On the other hand, our products page shows a lower exit rate at 36%, suggesting that more visitors continue navigating through the site after checking out the products.

  How to improve your conversion performance 

  If you’re curious about improving your conversion performance, this section is designed to guide you through that exact process.

  

  Understand your target audience and their behaviour

  You may need to return to the drawing board if you’re noticing high bounce rates or a lack of brand engagement. In-depth audience analysis can unveil user demographics, preferences and behaviours. This type of user data is crucial for building user personas, segmenting your visitors and targeting marketing campaigns accordingly.

  You can segment your website visitors in a number of web analytics solutions, but for the example below, we’ll look at segmenting in Matomo. 

  

  In this instance, we’ve segmented visitors by mobile users. This helps us see how mobile users are doing with our newsletter signup goal and identify the countries where they convert the most. It also shows how well mobile users are doing with our conversion goal over time.

  It’s clear that our mobile users are converting at a very low rate—just 0.01%. This suggests there’s room for improvement in the mobile experience on our site.

  Optimise website design, landing pages, page loading speed and UX

  A slow page loading speed can result in high exit rates, user dissatisfaction and lost revenue. Advanced web analytics solutions like Matomo, which provides heatmaps and session recordings, can help you find problems in your website design and understand how users interact with it.

  Making a website that focuses on users and has an easy-to-follow layout will make the user experience smooth and enjoyable.

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  Create compelling calls-to-action (CTA)

  Research shows that a strategically placed and relevant CTA can significantly increase your revenue. CTAs guide prospects toward conversion and must have a compelling and clear message. 

  You can optimise CTAs by analysing how users interact with them — this helps you tailor them to better resonate with your target audience. 

  A/B testing

  A/B testing can improve your conversion performance by allowing you to experiment with different versions of a web page. By comparing the impact of different web page elements on conversions, you can optimise your website with confidence. 

  Key conversion metrics takeaways

  Whether understanding user behaviour to develop a more intuitive user experience or guessing which marketing channel is the most effective, conversion metrics can be a marketer’s best friend. Conversion metrics help you save time, money and headaches when making your campaigns and website as effective as possible. 

  Make improving conversion rates easier with Matomo, a user-friendly all-in-one solution. Matomo ensures reliable insights by delivering accurate data while prioritising compliance and privacy.

  Get quality insights from your conversion metrics by trying Matomo free for 21 days. No credit card required.

• 11 of the Most Effective Conversion Rate Optimisation Best Practices

  14 février 2024, par Erin

  Driving more traffic to your website is hard work, but it’s still only half the battle. 

  You don’t just need to acquire new users ; you need to make sure as many convert as possible to make your digital marketing efforts worthwhile.

  That’s why improving your site’s conversion rate is so important. It will also help you get more value from your existing traffic source and keep you in line with your competitors. It’s also probably a lot easier than you think — especially if you adopt optimisation strategies that have been proven to be profitable time and time again. 

  In this article, we’ll show some of the most powerful, innovative and tried-and-tested conversion rate optimisation strategies you can implement immediately. 

  What is conversion rate optimisation ?

  First, let’s look at what conversion rate optimisation means. Conversion rate optimisation is the practice of improving elements of your website to increase the number of users who take a desired action and turn visitors into customers. 

  Common conversion goals include :

  • Making a purchase
  • Adding an item to a shopping cart
  • Signing up for a newsletter
  • Registering for a free trial
  • Downloading an ebook
  • Watching a video

  It doesn’t matter what your goal is. Using one of the following conversion rate optimisation best practices can send your conversions soaring. 

  11 conversion rate optimisation best practices 

  Are you ready to roll up your sleeves and get to work ? Then use one or more of the following best practices to improve your return on investment. 

  Set a clear goals and hypothesis

  When running an A/B or multivariate test, you need a clear idea of what you are testing and why. 

  A goal (a statement about what you want to achieve) and a hypothesis (a statement about what you expect to happen) clarify the problem you are trying to solve and give you a definitive way to judge the experiment’s results. 

  Confused ? Just use this template :

  We aim to [insert goal] by testing [insert test] on [insert page]. We expect that [insert test] will increase [insert metric] because [insert reason].

  Make sure your goals are directly related to the experiment. If you are testing your CTA button, the goal should be getting more users to click the button. It shouldn’t be a goal further down the conversion funnel, like making a purchase. 

  Start with A/B tests

  A/B testing is one of the easiest and most effective ways to run experiments to improve your current conversion rate. So, it’s no wonder that the A/B testing software market was expected to be worth $1.2 billion in 2023 and hit $3.6 billion by 2033. 

  Also known as split testing, A/B testing allows you to directly compare the conversion performance of two elements on your page, like the colour of your CTA button or your headline copy.

  

  You can go even further with multivariate testing, which lets you test two or more changes against a single control. 

  For example, the screenshot above shows the results of a multivariate test between a standard header, a wide header and a small header using Matomo’s A/B testing tool. As you can see, the wider header has a much higher conversion, and the increase was statistically significant. 

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  Tweak your CTAs

  Calls to action (CTAs) are page elements that prompt users to respond immediately. They are usually buttons but can also be images or plain text links. 

  What your CTAs say, how they look, and where they are placed can greatly impact your site’s conversion rates. As such, this is one of the elements you’ll want to optimise first. 

  There are several tweaks you can test, including your CTA’s :

  • Colour 
  • Length 
  • Copy
  • Placement 

  You can even test the impact of removing CTA banners and using text-based CTAs on your conversion rates.

  You should test out personalising CTAs, too. Research shows that personalised CTAs perform 202% better than standard calls to action. 

  Revise your web copy

  You can use several strategies to improve your website’s copy and generate more conversions. 

  Optimising copy for search engines can increase traffic and generate more conversions, for example. But that shouldn’t make your copy any less impactful. Bear search engines in mind, by all means, but make sure you are speaking to the needs and desires of your potential customers. Your copy needs to convince users that your product can solve their problems. 

  Nowhere is this more important than your headlines. These will be the first thing users read, so make sure they sell your USP and highlight pain points.

  Don’t just guess at the kind of messaging that will move the needle, however. Constantly test new headlines and continue doing so even after you’ve started seeing success. The results may surprise you. TruckersReport, a site that helps people become truck drivers, boosted opt-ins by 21.7% by revising its landing page headline, among other changes. 

  Make sure there are no spelling mistakes in your copy, either. Misspelt words, poor grammar and bad formatting make your website look unprofessional and untrustworthy. Even if the rest of your copy is incredibly enticing, these rookie errors can be enough to turn customers off. 

  Simplify your site’s navigation

  A website’s navigation is an often overlooked factor in conversion rate optimisation, but simplifying it can make it much easier for users to take action. 

  If you’ve ever used a poorly designed e-commerce store, you know how confusing and overwhelming bad navigation can be. Research shows that a whopping 82% of stores don’t divide their navigation into manageable chunks. 

  The trick is to simplify your navigation as much as possible. As you can see in the screenshot below, our navigation only has five headers and a call to action. It’s easy to find exactly what you’re looking for, and you can’t miss the big green CTA button. 

  

  Alternatively, you can test what happens when you completely remove your navigation. Brands usually do this on landing pages where the only action they want the user to take is to make a purchase. 

  

  It’s exactly the strategy we’ve used on our free trial landing page. 

  Leverage heatmaps

  Analytics tools — and heatmaps in particular — can help you understand user behaviour and optimise accordingly. 

  Heatmaps are a visual representation of user interaction on your page. Red and yellow represent high levels of user interaction, and blue and green represent low levels of interaction.

  

  As you can see in the screenshot above, our CTA button has some of the highest levels of engagement on the page, telling us that it’s well-positioned. Given the focus on the site’s navigation, we can also assume we are correct to have a CTA button in there — something we can confirm using our web analytics to see how many users click on it.

  Reduce load time

  Speed matters when it comes to conversions. Fact. 

  Research shows a huge difference in conversion rates between quick and slow sites. For example, a site that loads in one second converts three times better than a site that loads in five seconds. 

  That’s why using a web analytics tool is vital to understand page load times and act accordingly if you think slow speeds are hampering your conversions.

  

  Identifying your slowest pages is easy with Matomo. Just sort your pages by the Avg. Use the page load time metric on the page performance report to identify the pages you want to drive conversions. 

  Next, take steps to improve your page’s load time by :

  • Compressing images
  • Compressing code files or using a more lightweight theme
  • Removing unnecessary plugins
  • Using a content delivery network
  • Improving your hosting

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  Add more trust signals

  Trust is essential when you’re trying to convince customers to make a purchase. In fact, consumers rate trust as one of the top three buying factors, far above a brand’s reputation and whether they love the brand. 

  Adding trust signals to your landing pages, such as customer testimonials, customer reviews, case studies, and other forms of social proof, can transform your conversion rates. If consumers see real people and businesses buy from you, they’ll feel reassured to do the same.

  

  It’s a strategy we use ourselves. Just look at the screenshot from our homepage above. Immediately after our free trial CTA, we display the logos of well-known brands that use our product. 

  Security-focused trust signals are also powerful if you are an online store. Installing an SSL certificate, showing logos of trusted payment providers (like PayPal and Mastercard) can convince people they are spending money at a legitimate store.

  Improve your site’s mobile experience

  More and more people are accessing the internet via their smartphones. In 2022, for instance, there were five billion unique mobile Internet users, meaning more than 60% of the internet population used a smartphone to browse online. 

  Moreover, 76% of U.S. adults make purchases using their smartphones. 

  That means you need to ensure your site’s mobile experience is on-point to increase conversions. 

  Your site should use a mobile-first design, meaning it works perfectly on smartphones and then scales up for desktop users. 

  Trust the data

  Opinions are a fantastic form of inspiration for new A/B tests. But they should never be trusted over cold, hard data. If your test shows the opposite of what you and your team thought would happen, then trust the data and not yourself.

  With that in mind, ensure you collect qualitative and quantitative data during your experiments. Web analytics should always form the backbone of conversion tests, but don’t forget to also use heatmaps, screen recordings, and customer surveys. 

  Keep testing

  There’s no such word as “finished” in the world of A/B testing. Continual testing is key if you want to convert more website visitors. 

  Make sure you aren’t stopping tests prematurely, either. Make sure every A/B and multivariate test reaches a sample size that makes the test statistically significant. 

  Understand your users better with Matomo 

  Whether you run an e-commerce store, a SaaS company, or a service-based business, implementing these conversion rate optimisation best practices could be an easy way to lower your bounce rate and boost your conversion rates.

  But remember, best practices aren’t clear-cut rules. What works for one website may not work for yours. That’s why running your own tests and understanding your visitors’ behaviour is important. 

  Matomo’s web analytics platform is the perfect tool for doing just that. Not only does it come with the tools you need to optimise your conversion rate (like an A/B testing tool, heatmaps and session recordings), but you can also trust the data. Unlike Google Analytics 4 and other tools, Matomo doesn’t use data sampling meaning you have 100% accurate data from which to make better decisions. It’s GDPR compliant and can run cookieless, so no need for cookie consent banners (excluding in the UK and Germany).

  Discover how you can improve your website’s conversions with Matomo by starting a free 21-day trial, no credit card required.

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• LibAV - what approach to take for realtime audio and video capture ?

  26 juillet 2012, par pollux

  I'm using libav to encode raw RGB24 frames to h264 and muxing it to flv. This works
  all fine and I've streamed for more then 48 hours w/o any problems ! My next step
  is to add audio to the stream. I'll be capturing live audio and I want to encode it
  in real time using speex, mp3 or nelly moser.

  Background info

  I'm new to digital audio and therefore I might be doing things wrong. But basically my application gets a "float" buffer with interleaved audio. This "audioIn" function gets called by the application framework I'm using. The buffer contains 256 samples per channel,
  and I have 2 channels. Because I might be mixing terminology, this is how I use the
  data :

  // input = array with audio samples
  
  // bufferSize = 256
  
  // nChannels = 2
  
  void audioIn(float * input, int bufferSize, int nChannels) {
  
      // convert from float to S16
  
          short* buf = new signed short[bufferSize * 2];
  
      for(int i = 0; i < bufferSize; ++i) {  // loop over all samples
  
          int dx = i * 2;
  
          buf[dx + 0] = (float)input[dx + 0] * numeric_limits<short>::max();  // convert frame  of the first channel
  
          buf[dx + 1] = (float)input[dx + 1] * numeric_limits<short>::max();  // convert frame  of the second channel
  
      }
  
  
  
          // add this to the libav wrapper. 
  
      av.addAudioFrame((unsigned char*)buf, bufferSize, nChannels);
  
  
  
      delete[] buf;
  
  }
  
  </short></short>

  Now that I have a buffer, where each sample is 16 bits, I pass this short* buffer, to my
  wrapper av.addAudioFrame() function. In this function I create a buffer, before I encode
  the audio. From what I read, the AVCodecContext of the audio encoder sets the frame_size. This frame_size must match the number of samples in the buffer when calling avcodec_encode_audio2(). Why I think this, is because of what is documented here.

  Then, especially the line :
  If it is not set, frame->nb_samples must be equal to avctx->frame_size for all frames except the last.*(Please correct me here if I'm wrong about this).

  After encoding I call av_interleaved_write_frame() to actually write the frame.
  When I use mp3 as codec my application runs for about 1-2 minutes and then my server, which is receiving the video/audio stream (flv, tcp), disconnects with a message "Frame too large: 14485504". This message is generated because the rtmp-server is getting a frame which is way to big. And this is probably due to the fact I'm not interleaving correctly with libav.

  Questions :

  • There quite some bits I'm not sure of, even when going through the source code of libav and therefore I hope if someone has an working example of encoding audio which comes from a buffer which which comes from "outside" libav (i.e. your own application). i.e. how do you create a buffer which is large enough for the encoder ? How do you make the "realtime" streaming work when you need to wait on this buffer to fill up ?

  • As I wrote above I need to keep track of a buffer before I can encode. Does someone else has some code which does this ? I'm using AVAudioFifo now. The functions which encodes the audio and fills/read the buffer is here too : https://gist.github.com/62f717bbaa69ac7196be

  • I compiled with —enable-debug=3 and disable optimizations, but I'm not seeing any
    debug information. How can I make libav more verbose ?

  Thanks !