What is a website conversion rate?
Let’s start by understanding what a conversion rate is and how that applies to your website traffic. According to Nielson Norman Group, a “conversion rate is the percentage of users who take a desired action.” So a conversion rate as it pertains to your property management website can be two things:
- The percentage of prospective renters who visit your website and take an action (click to schedule a tour, inquire about a property, or submit an application for an available property) out of those who just visit your website
- The percentage of homeowners who visit your website and take an action (click to inquire about your property management services or reach out for more information) out of those who just visit your website
Paying attention to conversion rates on your website will help you: understand how well (or poorly) your website is performing over time, decide when it might be time to update your site or your call-to-actions (check out this post for property management websites to inspire you), and inform the ROI of any given website project.
How do you calculate the conversion rate on your website?
- Decide the time parameters + desired action to track
To figure out the percentage of users who take a desired action on your website, you first need to set your time parameters. Are you looking at the conversion rate per week, per month, or per quarter? Website conversion rate is typically calculated per month, so that’s what we’ll use in this example. You must also decide which of the two audiences that visit your website to track (prospective renters or homeowners) and what the desired action/conversion is for that group.
- Find the total number of website visitors per month
Next you’ll need to find the total number of visitors to your website per month. In your Google Analytics account, go to the menu on the left and select Acquisition > All Traffic > Source/Medium. Scroll down to the acquisition chart and you’ll find your total users for the month.
If you do not have a Google Analytics account but your website has its own analytics tracking, you should be able to find your total monthly traffic there.
If you do not have a way to track your website traffic, you should! We recommend you sign up for a free Google Analytics account - it’s easy to set up and connect to your website.
- Do the math to find your conversion rate
Once you have your total number of website visitors, you’ll need to find the monthly number of users who took the desired action. Take that number and divide it by the total number of monthly visitors - then you get your conversion rate!
Why it’s important to boost conversion rates on your property management website
As previously mentioned, conversion rates are important to keep track of because they will help inform your strategic decisions. For example, if you notice that the conversion rate for homeowners is low (lower than 1%), it might be time to update your homepage to include a more obvious, lower commitment, or a simpler desired action to encourage more clicks about your services.
Another example: If you get approached by a web designer who offers to redesign your website, and your current conversion rates are pretty high (above 5 or 6%), it might not be cost-effective to spend that money on your website since it’s already performing well.
Overall, the goal for your property management website should be to drive action from both homeowners and prospective renters so that you can grow your business and optimize your rental turnovers. Tracking your conversion rates is the best way to really tell if your website is helping you achieve those goals!
4 ways to boost conversion on your website
Now that we’ve talked about what a website conversion rate is, how to calculate it and why it’s important to track, let’s get to the good stuff. How can you actually boost conversion rates on your property management website? This isn’t an exhaustive list, however, following some of these tips should help drive your desired actions!
Here are four ways to boost the conversion rates on your website:
- Clear call-to-action and contact information
In order for your website visitors to take an action, they have to know what you want them to do. Make sure that you have a clear, obvious call-to-action. For property management websites specifically, it’s a good idea to have two call-to-actions at the top of your homepage: one for homeowners (to inquire about your services or to contact you) and one for prospective renters (to see all of your available listings). This example below showcases both call-to-actions well through their use of two buttons:
You should also make all of your contact information extremely easy to find so that someone isn’t discouraged from reaching out if they don’t immediately see how to get in touch with you.
- Showcase services and outcomes
In addition to prominent call-to-actions, your website should showcase your property management services, plus the outcomes of those services to really connect with your website visitors on an emotional level. Too often, property managers just describe what services they offer without thinking about the actual impact those services have on homeowners or prospects. Check out the example below - Boundless Management makes it clear that with their services, owners can achieve freedom and tenants can find comfort. These messages speak to what those audiences actually want and create a positive perception of the company.
- Have your listings on your site (plus filters + easy search functions)
It may seem obvious to have all of your property listings on your website, but some property managers post listings directly to listings sites and so they’re not all in one place. If a prospective renter finds one of your listings, odds are they will want to see what other listings you have! This is especially true if you have a good search and filter function for your listings on your website so that prospects can narrow down their search and easily find a place to rent.
Maple Leaf Property Management’s website below shows how user-friendly their listings page is by showing all of their properties on one map, plus an easy-to-use filter tool and search function.
- Use an AI leasing bot to greet website visitors + answer questions
The future of websites is here! A website bot that uses artificial intelligence to greet your website visitors and answer their questions is the most impactful way to influence your conversion rates in a positive way. Website bots, such as Showdigs’ DigsBot™, will learn how to answer questions and move your website visitors towards the desired action(s). Besides ultimately improving your conversion rates, a website bot will immediately engage your website visitors and add value to your offerings. It will also help keep visitors on your website longer which can help boost your search rankings.
The Showdigs DigsBot™ is now available for all standard plans.