One of the factors that determine how well your website is doing is the conversion rate. Nowadays, most organizations are focused on driving traffic to their website. To achieve this, they invest money, time and efforts to make it possible. You might wonder why they do so. But the bigger question is, “why shouldn’t they?”
Converting your website visitors to leads means more potential customers. And the more you get to turn these potential customers into paying ones, the more money your business will make.
It might sound simple, but it’s not an easy task to do.
The online marketplace is getting more competitive, and it will only get worse. You need to up your game if you want your business to survive.
The good news is that you can increase your profits with the number of traffic you are getting via conversion rate optimization. How can you do that? We thought you might want to know!
This guide will discuss all the basics of conversion rate optimization; what it is and how you can use it to increase your customer revenue and acquisition.
Are you ready? Let’s get started!
What is Conversion Rate Optimization?
Fortunately, we came across an excellent definition of what is CRO in Wikipedia:
“In internet marketing, conversion optimization, or conversion rate optimization, is a system for increasing the percentage of visitors to a website into customers, or more generally, take any desired action on a webpage.”
In another word, conversion rate optimization can be defined as the practice of optimizing your website to increase the number of visitors that perform a particular action. These actions can include requesting a demo, making a purchase, signing up for newsletters on your sites.
A conversion is an actual action that you want visitors on your site to perform. And this can differ depending on what you do. For examples:
Are you a blogger? Then conversion will be signing up for your newsletter or.
Do you run an online store? Conversion for you is when visitors make a purchase.
What is Conversion Rate?
Conversion rate is the percentage of people that come to your site and take a particular action.
To calculate your conversion rate, you should divide the number of people that take the desired action by the total number of people that visited your page.
Let’s give an example so you understand better:
Suppose you run an online store that sells children's clothes. And 200 people visited your site within a month. If 20 of the visitors purchase on your site, then your conversion rate is 10%.
Why is Conversion Rate Optimization Important?
Maybe you have heard of this saying: “It's easier to increase conversions than traffic.” And this is very true.
Businesses that do CRO enjoy a 223% increase in ROI than companies that don’t.
Spending more on paid advertisement is not the answer, especially when you have issues with your conversion funnel that needs addressing. Implementing CRO will help you to identify and tackle these issues first.
Additionally, the goal is not just converting any customer. The aim is to convert customers that will like your product and also help you market by telling their friends and family about your product.
Also, CRO is entirely free. It mostly capitalizes on the traffic that you already have. This means you don’t need to spend money trying to get traffic to your website. CRO will help you to increase the ROI on your current investment. And converting a higher proportion of your current customers is more cost-effective than driving new traffics.
Increasing your conversion rate means reducing your customer acquisition cost by half. Besides that, it can also help you to maximize profits. This is because you won’t be spending money to acquire these conversions.
Conversion rate optimization also helps you to create great momentum that will increase your market value. The higher your conversion rate, the more traffic you can afford, thereby leading to more customers. And before you know it, you will dominate your market.
5 Ways CRO benefits SEOs
CRO SEO? These two words might not be similar but they are related. While CRO does not relate to attracting traffic to your website. It surely can benefit SEOs in several ways. In this section, we’ll discuss 5 incredible ways CRO can benefit SEOs.
- Improved Customer Insights
CRO can help businesses and individuals to better understand their targeted audience and discover what messages or language will speak their needs better. Additionally, website conversion optimization will help you get the right consumers for your business. Acquiring the wrong audience won’t do your business any good.
- Better Scalability
Even if your customer base does not increase as your business expands, CRO can help your business grow without losing any resources or customers. If you turn more visitors into buyers, you can expand your business out of potential clients.
- Better ROI
A higher conversion rate means making the best out of your resources. CRO will help you get the best out of your acquisition, which means you will get more conversion without the need to bring in new traffics
- Enhanced Trust
Users need to trust your website before they can share sensitive information like their mail, contact address, phone number, credit card information, and many more. Your website is the first place your customer will visit. Just like your sales rep, your website needs to look professional and should be able to answer all your customers’ questions.
- Better User Experience
When your users feel comfortable on your website, they will come again and again. Creating a better experience for your users will only boost the return on investment of your business. Customers who feel good about your website will engage with it - they will even advertise your websites to everyone.
Keys to Successful Optimization
For successful optimization, you need to know what, who and where to optimize. Knowing this is the key to successful conversion rate optimization best practices.
If you don’t source the right information, you will be making decisions based on assumptions and uncertainty. Following your guts can be awesome. But making decisions on your guts is a bad move. And it might lead to a waste of time and money.
- Analytic Method
This method is also known as quantitative data analysis. This method will give you the numbers behind how visitors behave while surfing your website. Make use of great analytic tools like Google Analytics, Next and so on.
Analytic-based CRO can help you answer some important questions on how users behave on your website. You will get answers to information such as:
- Where people land on your website
- Where they spend the most time on your website
- What referrer and channel brought them in
- What browser they use to access your site
- Who your visitors are (demographics, interests, age, and so on)
- What they were doing before they left your website.
When you have access to all this information, you’ll know the exact pages that people engaged with. And focusing your efforts on these pages will give you impressive results.
- The People Method
Carrying out analytic-based CRO will help you to discover the pages that people engaged the most. Now that you know how a user interacts with your website, you need to know the “Why” behind their behaviour. The People Method is also known as Qualitative Data Analysis, and this is subjective.
To use this method, you need to first carry out the quantitative data analysis to determine who you need to engage or ask questions. You should know that you can’t optimize for all customers. The best thing to do is optimize only for your ideal customer - people that are best to have as customers.
You can get this information through:
- Satisfaction surveys
- User testing
- On-site survey
Qualitative data analysis will give answers to Why users perform a particular action on your site. These includes:
- Why did they engage? Why did they visit your site or interact with a specific page? What product or page appeals to them?
- What do they think your website has that makes it different from your competitors? Do you offer a service or feature that makes it easy for them to purchase your products?
- How do they describe your services or products? How would they describe you to their friends and family?
For better conversion rate optimization, it is better to combine analytics data with your raw data. With this, you can get the page on your site that is best to optimize to engage your desired audience.
The Bad Method
Bad methods in CRO come in various forms. Some of the methods that are bad for your conversion rate optimization process include:
- Executing changes based on the highest-paid person opinion
- Doing it because other competitors are doing it
- Gut feelings, hunches, and guessing.
The list above has something in common. They are not based on data, and might just be based on assumptions. The best practice is to analyse and gather your information so that you can draw meaningful conclusions.
What is Behavioural Target in CRO
A behavioural target or simply put, behavioural targeting is a marketing strategy content that involves the gathering of a user's data based on their behaviour. This information is useful for creating a better user experience for your website.
Behavioural targeting uses metrics like:
- Click through rate
- Web searches
- Purchase behaviours
- Webpage viewing times
- Frequency visit pages
- Length of session
When you implement behavioural targeting practices, you can streamline your messages and content to fit your customer’s interest.
How to Improve CRO with Strikingly Editor Features
Strikingly is an awesome website building platform that can help you develop a stunning website that your customer will love. To get started with Strikingly, you need to create a free account with us. You will need to provide your first name, password, and email address.
Once you have logged in to your Strikingly account, choose a template that best describes your brand. Strikingly templates range from Personal to Start Up, Company, Business, and lots more.
After you have chosen your desired website template, you can proceed to edit the template to best fit your interest.
Four areas of your website can benefit largely from conversion rate optimization. These include the Homepage, Pricing Page, Blog, and Landing Page. With Strikingly editor features, you can customize these pages to make them appealing to your audience.
To add sections to your website, click on the “Add New Section”.
On the “add section” page, you can add new sections like Blog, Call to Action, Pricing, Contact & Forms, and a lot more. For each of the sections, you can choose from a wide range of stunning templates. Let’s assume you want to add a Contact & Forms section to your website, below is an image of some templates you can choose from.
With the Strikingly editor feature, you can customize a popup form or newsletter to connect with other customers that have purchased your products or used your services before. Ready to increase your conversion rate? Start by creating your account today.