You can’t put a price on love. And the same can be said about Conversion Rate. So how exactly can you tell if you have a good conversion rate or not? The burning question of the century finally gets its answer.
If you’ve already browsed the web, we bet you found that everything between 0.01% and 15% is a good Conversion Rate (CR). And the fact is, neither of those answers is false. In reality, there are many factors that contribute to your CR being good, or not just yet. But don’t worry, we’ll see them all, one by one.
How can you understand if your conversion rate is good?
To better understand that, along with all the factors that contribute to a good CR, we checked with one of our best Account Strategists, Sofia Yakovleva. She told us that:
“Generally the Conversion Rate varies based on the vertical, conversion type, GEO, platform, offer, or slice.”
Of course, there’s no one size fits all. Sofia also advises you to ‘compare your current CR to the ones you’ve had from your offer in the past’. Yet, if you don’t have other data for reference, you can ask your manager to check how your campaign compares with the specific slice’s competition.
Does the Conversion Rate vary based on the Vertical?
When we asked Sofia, she told us that:
“When it comes to the vertical, the Conversion Rate will have very large fluctuations from one Vertical to another. Usually, verticals with a simple flow and conversion, tend to have a higher CR.”
This is why we recommend that you start advertising for simple verticals or the ones that you’re familiar with.
If you need to improve your CR, you might try advertising for one of the following verticals that generally have a simpler Conversion Flow:
- Mobile Content
- Dating Offers
To check the differences between verticals we analyzed 6 campaigns, from two different verticals:
- Conversion types – SOI
- Format – Push Notifications
- Platform: Mobile devices
- GEO – Tier 3 countries, Ghana & Brazil
Although Finance might seem more complicated for affiliates to approach, often it brings a very good conversion rate. Moreover, here we’ve got two different values (green) for what can pass as a good Conversion Rate. The orange values represent medium CR values, leaving room for better.
However, the big difference between these campaigns were the quality creatives and product, at the end of the day.
Not so fast, check out the 14 Factors That Affect Affiliate Conversion Rate
The Conversion Type impact on the Conversion Rate
As we saw before, the harder the conversion flow, the fewer chances for a very good CR. This often happens since either the creatives are not good enough, or the user flow of the product needs some improvements. Add these to a complicated conversion flow and your potential conversion will get lost down the funnel.
“So in this case, a CPI offer will be more likely to have a higher CR than a campaign on CPS, for example. However, the Conversion Type doesn’t seem to affect the CR that much.”, as Sofia added.
We checked the conversion rate of 4 Campaigns on Utilities, two with an Install conversion Flow, and two on Free Trial:
- Format – OnClick
- GEO – US
- OS – iOS
|Free Trial 1||901603||244||0.03%|
|Free Trial 2||603680||78||0.01%|
As you can see, the difference between a good CR on Install 1, is quite big compared to that on Free Trial 1. And it’s all because of the difficulty level of the conversion flow. Install is a simple conversion flow, whereas Free Trial is of medium difficulty. However, that doesn’t make the CR less good.
In fact, having a good CR on a more complicated Conversion Flow means that the product is really good, that people are willing to go all the way through the funnel.
Does the CR depend on the GEO?
When it comes to the GEO it’s very hard to generalize because, frankly, the CR mostly depends on the vertical and offer itself, according to Sofia.
Of course, as we already saw, a simpler GEO like tier-3 countries with which you’re already familiar can be the best choice when you’re going for a higher CR.
To better understand this, we chose four campaigns, that have the exact same settings, except for the GEOs:
- Vertical – Sweepstakes
- Format – Push
- Device Type – Mobile
- Conversion Type – SOI
It is perfectly normal for different GEOs to bring different conversion rates. But what made a very big difference between these two Tier 3 countries campaigns were the narrow targeting used for the Philippines (PH) campaigns. Indonesia’s (ID) campaign choice to Run of Network (RON) targeting, cost it an even more impressive CR.
Despite this, it managed to harness quite a good CR, compared with campaign ID 2 that can still improve its performance.
Conversion Rate and Operating System (OS) or Device Type
When asked about the Conversion Rate and the Operating System or Device Type, Sofia Yakovleva replied:
“I’d say that in most verticals we see higher CR on Android devices.
Android devices are cheaper so more people can afford them, as compared to the iOS ones. But once again, this factor can greatly vary from GEO to GEO.
Your Targeting might cost you 60% of your Conversions. Read the article now!
Take note: In India, iOS devices are the most trusted although they only account for just 20% of the OS used. However, people get loans to invest in expensive iOS devices.
Your best chance at understanding the users’ preferences and tendencies is to run tests, gather and analyze the statistics. This way you can seriously boost your CR.
To check the CR of various device targeting, we chose four campaigns:
- Vertical – Dating
- Format – Push
- GEO – Tier 1 countries
- Conversion Type – SOI
|Desktop & mobile, US 1||8589||970||11.29%|
|Desktop & mobile, US 2||2570||138||5.37%|
|Mobile, DE 1||8589||970||11.29%|
|Mobile, US 2||2570||138||5.37%|
We can clearly see that targeting both desktop and mobile devices brought the US campaigns a way higher CR and a larger difference between the intermediate result – 5.37%, US 2, and the very good one – 11.29%, US 1.
However, when analyzing these 4 similar campaigns, we also need to think about the GEO. DE is a country where Dating apps are advertised for a very long time, so it is normal to see lower CRs.
Nevertheless, you can see that Germany performed better when it came to the medium CR – 7.34%, DE 2 that was a lot closer to what is considered a good CR – 8.96%, DE 1.
Here’s what one of our clients did to increase his CR
|Chrome_Android_CC (Interests targeting)||1,216,025||7,413||0.61|
Above is an example of how one of our clients almost doubled the CR of his CPA Goal campaign. He was running an Android Chrome utilities offer, in the US. When he duplicated this campaign he targeted PropellerAds’ audience interested in Utilities (checked and marked as interested – high activity level).
Doing so he increased the 0.33% CR of the first campaign, to 0.61%. He already had a pretty decent CR, but saw a chance to increase it, and seized it.
Before you leave, here are some useful articles you can read, for more healthy practices on how to improve your CR:
- Get Higher Conversion Rates with Audiences 2.0 & CPA Goal [Case Study]
- How to Improve Your Conversion Rates with a Pre-Lander
- 2 Campaign Optimization Strategies: What Route is Best for You?
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