Companies can move toward long-term, sustainable growth by making more use of the traffic and lead they already have rather than just getting new traffic. Conversion rate optimization, or CRO, helps with this. You will learn about the power of CRO, the reasons your company should focus on increasing your conversion rate, and how to get started in this guide.
What is conversion rate optimization?
The process of increasing the proportion of users who carry out the desired action on a website is known as conversion rate optimization (CRO). A product purchase, adding an item to your cart, signing up for a service, completing a form, or clicking on a link are all examples of desired actions.
Why is CRO important?
CRO can increase how many conversions a website's current visitors produce. Websites may generally increase conversion rates in two ways: by driving more visitors to the site overall and/or by making the site more effective. When optimization efforts are concentrated on improving efficiency, initiatives aim to raise the probability that more site visitors will click on the desired CTA, even if traffic levels stay the same. Website owners must comprehend the following in order to successfully perform CRO in this situation:
- Who their website's intended audience is;
- Which CTAs are on the website right now;
- Which CTAs are simple to optimize; and which optimization efforts ought to be given top priority to achieve business objectives.
Conversion Rate Calculation Method:
By dividing the total number of visitors by the number of conversions (the desired actions taken) and multiplying the result by 100, the conversion rate is determined. For instance, if your website received 450 visitors and 18 sales last month, your conversion rate is equal to 18 divided by 450 (0.04) divided by 100, which equals 4%.
Conversion Rate = Number of Conversion/Total number of visitors X 100
Strategies for Conversion Rate Optimization:
At last, the objective of expanding transformation rates is to bring down the expense of client securing and sustaining. The optimization team should carry out the following if the redesign of the homepage is intended to increase subscriber numbers:
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- Before making the changes, it will test the new features of the homepage to see how well they are received by users.
- Perform the planned modifications to the homepage.
- Check how engaged the user is with those particular elements.
- Find out if the changes had a positive or negative effect on the company's conversion rate by comparing those numbers and other key performance indicators (KPIs) to the numbers measured prior to the change.
Before beginning a CRO project, it is essential for an organization to have clearly defined objectives in order to reap the benefits of the effort and resources spent reoptimizing. Companies that don't have a clear goal can measure the wrong metrics, which may look good on paper but have little effect on the business. Driving traffic to areas of the website that do not help demonstrate intent to buy or measuring micro-conversions that improve engagement but do not ultimately result in an increase in sales because they do not ultimately convert users into marketing-qualified leads (MQLs) are two examples.
Deciding what to focus on:
Marketers agency must be aware of which website pages are most suitable for optimization. The underoptimized, high-traffic web pages that are the focus of A/B testing are the starting points for the CRO process. The following are some common areas of a website or app that could benefit from CRO:
- Because it is the user's first impression of the website, the homepage, which likely receives a lot of traffic, needs to be optimized.
- Article pages, which hold critical, change potential open doors. To get the reader to take a particular action, CTAs can be placed all over the page.
- The contact information for sales should be easily accessible on product pages, which should be designed to be as user-friendly as possible.
- When a user clicks a link from an email marketing campaign or social media post, they are taken to a page called a "landing page." Because these pages are made to convert visitors, they should be simple to use.
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