The conversion rate optimization process helps to increase website visitors and conversion rates. CRO process concentrates on two elements –
- Reduce friction in the sales funnel.
- Improve offer value.
Conversion rate is a percentage that tells the number of visitors your site really converts. The calculation is straightforward –
Formula – Total transactions/total traffic on your site X 100
For example, 10000 visitors visited this week and 2000 bought the product. It means the conversion rate is 20%. If 5,000 visitors converted then your conversion rate will escalate to 50%.
The major benefit of the conversion rate optimization strategy is to gain more conversion from the same traffic amount without burdening the monthly marketing budget. The traffic can be from social, content, or paid, it costs money. Active Marketing is CRO experts that can help to not just give more conversions with the same monthly marketing budget but you will see several changes.
- Per customer acquisition costs will be lowered. As the marketing budget stays the same, traffic volume is maintained but you make more sales. Therefore the acquisition cost per customer is less.
- The profit per customer will increase.
- More profits mean you can invest more in business growth.
The conversion rate optimization process can unlock the next business step.
Understand conversion optimization components
- CTA – Call to Action tells visitors what action to take.
- Conversion funnel – It comprises several steps taken to attain your site’s primary goal.
- A/B testing – It enables to confirm conversion enhancement. A couple of website versions are displayed before the visitors. Each version’s conversion rate is measured to find out the most effective one.
- MVT – Multivariate testing is similar to A/B testing but tests different variables one at a time.
- Analytics – It is a tool that measures users and visitors. It is essential to enhance the conversion rates.
- Usability – It is a group of best processes and practices designed for making a website user-friendly. It often improves conversion rates by eliminating friction experienced on the site.
- User recordings – It is a tool that detects how a visitor moves across the website. It offers feedback on where visitors get stuck as well as where they wish to go. You gain a lot of ideas for conversion rate improvement.
- Customer development – Understanding your customer is crucial. Use processes and tools to gain an insight into your target customer. It helps to design a site that converts more percentage of visitors.
- Heatmaps – It is a report that reveals the page visitors click on using cold and hot colors. A great tool for getting ideas to enhance conversion rates.
Tips to double the conversion rate
- Define your target audience to create a marketing message that reaches the target.
- Perform user surveys to gain an insight into target customers’ needs and wants.
- Track metrics using optimization tools and ensure to cover every base. Gather data and check for patterns.
- Run A/B tests using appropriate tools without the concern of sieving through the piles of data to identify the winner variant. Be strategic!
