How Does Conversion Rate Optimization Work?
Today, almost every business owner is chasing after the elusive goal of generating high website traffic to convert them into qualified leads.
However, getting out of existing traffic is more crucial than that. In the end, this promotes the sustained expansion of the business.
It is pretty important to focus on turning that website traffic into high-paying customers.
This is exactly where the Conversion Rate Optimization (CRO) comes in…
You might be wondering:
But, how does conversion rate optimization work?
No worries! In this blog, I am going to share everything about CRO.
So, let’s get started!
What Is Conversion Rate Optimization(CRO)?
Conversion rate optimization is a process or a set of marketing strategy that is used to optimize the website or a landing page to improve the number of visitors that makes a conversion.
Let me explain with the help of an example:
Consider a landing page that receives 4,000 views per month and converts at a 10% rate. Therefore, based on estimations, the landing page will generate 400 conversions per month.
I hope, that now you understand what CRO is and how it is determined.
As you are aware, traffic in the digital world fluctuates. You can’t bring consumers into your conversion funnel if you don’t optimize your landing pages to enhance the user experience.
It is a major issue.
Working on efficient campaigns for conversion rate optimization is the greatest strategy to increase the likelihood of receiving more conversions. which I will, of course, go into more detail on the blog.
How To Calculate Conversion Rate?
You must first comprehend how to compute the conversion rate to improve it further and achieve your conversion objectives.
There is a formula:
Remember the example I have given above? This is exactly how it was calculated.
You might be wondering:
What’s the good conversion rate?
Well, according to invespcro.com,
- The average eCommerce conversion globally is 4.31%
- The average eCommerce conversion in the U.S. is 2.63%
I hope the statistics provided above are enough to provide you with an insight into how important it is to work on website conversion rates.
Conversion Rate Optimization Strategies You Need To Follow
There are some tactics through which you can enhance conversion rate optimization. Some of them are listed below:
1. Optimize The Landing Pages
One of the most important things you can do to increase the conversion rate is to optimize the landing pages or webpage. Landing pages determine a brand’s level of success.
The greater conversion rate it provides depends on how well you optimize it for SEO.
You can optimize a lot of things on the landing page that affects the conversion rate like website design, colors, themes, and more.
When you are working on the CRO of your website, you can’t just neglect the language you talk to your audience. Your website copy can make a customer keep coming back or make him leave the shopping cart and increase the bounce rate. It all depends on the way you speak to your audience.
Here Are Some Tips To Write Good Website Copy
- Write headlines that make the user take action.
- Hire a good copywriter or learn the art of copywriting for conversion.
- Use appropriate font style and size to make it appealing for users.
- Talk to your audience in a friendly tone and make them trust you.
- Use proper formatting, proper subheadings, and bullet points.
- Add stylistic elements(metaphor, simile, adjectives) where needed.
2. Add An Action-oriented CTA Button
I hope you might have heard about the CTA. It stands for Call To Action. You make the user take the desired action. The desired action could be anything from subscribing to blogs to making a purchase. The more appealing your CTA button, the higher conversion you will get.
Tyco got an increment of 60% in conversion rate just by changing the text of its CTA button.
They changed it from “Book a free survey” to “Get a free quote”.
You can compare both versions of the website and see they haven’t made many changes. yet they were able to get a 60% improvement in the site’s conversion rate.
3. Site Structure Of The Webpages
You must have heard in the digital marketing world, that a proper site map structure provides clear navigation to the target audience.
It provides a good user experience and navigation so that, the user doesn’t get lost and leave which eventually leads to a high bounce rate.
Every website has a different site structure but there is a standard hierarchy.
The user or target audience starts navigating from the homepage and then gets into the categories and subcategories until they find what they were exploring.
If you keep this whole process fluid, your potential customers will not have any issues navigating your site. But, if your website is messy or unstructured, it will enhance the bounce rate.
So, keep your website organized for your potential customers.
4. Loading Time
The loading time or loading speed matters more than you think. The loading time impacts the overall performance of the website. It directly impacts the user experience. A slow loading speed can even make the user bounce back from your website.
Do you know, that if your website loading time increases even by one second, it can reduce the conversion rate by 7%?
5. Optimize The Blog Posts
Many marketers publish blog posts to increase the conversion rate. If you already have lots of blog post content that is not driving enough website traffic, you can optimize them with new keywords to increase your website’s visitors.
Find out the blogs that have the potential to get a higher conversion rate.
Or, you can also check out those blogs that are already getting higher conversions and you can optimize such blogs to get more conversions.
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The CRO Process
As you must understand till now that CRO plays an important role in digital marketing. It is used worldwide to create and design a fine homepage or landing page.
Let’s now understand the CRO process step-by-step:
1. The Research Stage
This is the very first step in the CRO process. It is very important to perform research. Without research, the CRO process is nothing. for that, you can use many analytics tools and CRO tools like Google Analytics, StatCounter, CrazyEgg, etc.
You can start it by reviewing and testing the conversion funnel. Here you need to analyze the whole funnel and see what’s stopping the target audience from converting. This is exactly where your research work will start.
2. CRO Test–A/B Testing, Split Testing, or Multivariate Testing
You have understood how to apply conversion rate optimization strategies. It is pretty important to test the strategies after applying them to your website to check out what’s driving the results and what’s not.
So, let’s understand further:
The CRO test can be done in either of the three ways:
- A/B Testing
- Split Testing
- Multivariate Testing
A/B testing is somewhat like creating two versions of something and then testing which one is driving more desired results. Split testing is also referred to as A/B testing. Multivariate testing refers to testing many features on the website in a single round.
Well, this step depends on the variables. You can choose to follow this step. It refers to adding a new design to your new pages. This step depends on the variables you are choosing to test.
Let me explain. you can reconsider the variables if you don’t find the overall website user-friendly.
This stage shows you whether the changes and testing that you have made have derived any results or not. You can check whether it has improved the conversion rate.
The final goal of conversion rate optimization is to improve conversion rates. A single round of testing and implementation can help you with a higher conversion rate.
And, when you are done with the bigger changes and implementation, you can focus on the small things that matter even more.
However, working on all of these things step-by-step takes time. You can also take up SEO services to improve the conversion rate.
Conversion Rate Optimization Tools
Here are some CRO tools that you can use right now to improve conversions.
The Bottom Line
In the blog above, I have discussed all conversion rate optimization. I have elaborated on the whole process through which you can proceed with CRO strategy and enhance the sales of your website.
Just stick with the process to get closer to tremendous results.
CRO is extremely important when it comes to enhancing leads and sales and applying the right strategies will help you get through it.
1. What is the purpose of conversion rate optimization in online marketing?
The main purpose of CRO is to turn the site’s visitors into high-paying customers by understanding user behavior. The business results could include buying products or services or joining the email list or making the visitors your subscribers by enhancing your optimization efforts.
2. Why is conversion rate optimization important for product pages and eCommerce sites?
Conversion rate optimization is important for eCommerce websites because it helps you lower the customer acquisition cost.
3. Which is the best tool to get the heatmaps for my website?
You can use tools like hotjar to get an understanding of how the user behaves on your website. It will also give you an analysis of how the user feels about your website.
The tool, hotjar, is used by big brands like Microsoft, Adobe, Panasonic, Hubspot, and many other big brands.
With the help of this tool, you can visualize the user’s behavior and see what your user sees. The best thing is, that they keep everything private.