The currency conversion tables are useful for marketers looking to increase conversions by using different currencies in their campaigns. The currency tables available on Google’s Search Console can be used to check the modifications from one currency to another and find the difference between two currencies.
You know how important conversions are if you’re a marketer who sells products. Whether you’re promoting a sale or a free giveaway, it’s all about how much money you bring in.
But not all markets are equal. Some markets are more profitable than others. And one of the biggest differences between them is conversion rate.
Even though it sounds like common sense, it’s easy to forget that the conversion rate can vary greatly from market to market.
What is currency conversion?
Currency conversion is a process of converting local currency into another currency. For example, if you buy an item in dollars, you need to convert that into the cash you need to pay for that item.
For instance, if you want to sell something in pounds, you need to convert the pounds into dollars to sell the item for dollars.
Similarly, if you want to charge someone a certain amount of pounds, you must convert that amount into dollars.
Currency conversion for ecommerce
One of the most profitable markets for ecommerce is the US. Americans love to buy from the US, so converting dollars to their local currency is a no-brainer.
However, this doesn’t mean that all other markets are inferior. They can sometimes be more lucrative.
Take the example of a new customer who wants to purchase a product from your store. But instead of shopping in their local currency, they’d prefer to spend money in their local currency.
In this case, you have an opportunity to earn more.
To do this, you need to calculate the exchange rates for each country and present the conversion options in the checkout process.
What’s the difference between currency conversion and price matching?
What’s the difference between currency conversion and price matching?
A conversion is when a potential customer takes action on your offer. For example, a potential customer clicks through to a product page from your affiliate link.
A conversion is also called a conversion event.
A conversion is a critical indicator of the success of a particular marketing campaign.
It is, therefore, vital that you know how to calculate conversion rates.
There are various ways to calculate conversion rates; some are more accurate than others.
One of the most popular methods is to use a conversion tracking platform. This lets you track how many people visit your website and what pages they view.
You can also use a third-party tool such as the Google Analytics API to track conversions automatically.
What is the best time to convert currency?
Most companies are familiar with the “rule of 72”, but they often ignore that the “rule of 72” only works if you apply it at the right time.
This is why you should always use currency conversion tables to find the best time to convert a specific amount of money into a different currency.
The rule of 72 is based on the “logarithm” of 72. If you multiply your current income by 1.06, it will double in approximately 8.3 years.
However, this rule only applies to “static” income, which is what most people think of when they think about “income.”
While this is a great rule, you’ll never get the same results with “dynamic” income.
Let’s say you’re an ecommerce company. You’re selling a product that costs $20 to make. Suppose you’ve sold $2,000 worth of this product over the last month.
How much would you have to sell this product to reach the $20,000 goal?
To find out, you need to calculate “cost per unit.”
In this case, we’ll assume you will sell 100 units.
To determine the “cost per unit,” we divide $20 by $100.
The result? $0.2.
If you sell $10,000 of this product in the next 30 days, you’d have $0.2 in profit.
However, this is “static” income. It’s the same amount of money you’ll make for the rest of the year.
The truth is that you’re making $0.2 per day for the next 30 days.
Frequently asked questions about increasing conversions
Q: Can you increase conversions?
A: Yes. You can increase conversions by increasing your website traffic. We have a step-by-step method to help you with this.
Q: How long should it take to increase the conversion rate?
A: You can increase your conversion rate in 30 days. We can show you how.
Q: How can I be assured of your results?
A: We can provide over $100 FREE tools, but you must follow the steps.
Q: I’ve tried everything else! Can’t you do it for me?
A: Yes, we can help you. But if you are using an online business opportunity like ours, you already know you must do what is necessary to succeed.
Top Myths about Increase Conversions
- Conversion Rate will always increase if you increase your traffic and page views.
- You must have more than 10,000 page views a day to achieve significant results.
- There is no scientific proof that your link will increase conversions.
Conclusion
Conversion rate is a term used to describe the ratio between people who complete a desired action and the number of visitors who visit a particular page.
I know that you have probably heard many times that conversion rate matters. And you indeed need to optimize your website and pages to increase conversions. But what if you could increase conversions without even touching your website?
Let me explain. A friend recently asked me to do some SEO work for him. When I first started looking at his site, I noticed that he was missing one thing that I thought was essential for converting his traffic into customers.
His site lacked a currency conversion table.
I am sure you are familiar with the concept of currency conversion tables. These tables are common in e-commerce stores and help you convert visitors into customers.
The great thing about currency conversion tables is that they work regardless of your customer’s location.
They automatically show the exchange rate and allow you to calculate the price in your currency.
