What is Conversion Optimization or CRO?
The popular Wikipedia site defines Conversion Optimization or commonly known as Conversion Rate Optimization (CRO) as “a system for increasing the percentage of visitors to a website that convert into customers, or more generally, takes any desired action on a webpage.”
That is as simple as anybody can define CRO. It was born out of the need to improve a website’s performance. Every online business has an objective, a goal. Whether it be a subscription, purchase or goods or services, or a simple mailing list inclusion; every site that accomplishes that goal is considered having a “conversion.” After all, what is better than a website that converts?
What is a Conversion?
A conversion in simple term is “making a sale.” Every time someone ends up buying, asking for service, fills out a contact form, initiates a phone call from visiting your site, that is counted as a conversion. In digital marketing, a conversion happens when a visitor takes an action that you most want them to make.
What is a Conversion Rate?
The conversion rate of a website is the percentage of visitors that “converted” or completed the desired goal out of the total number of visitors for a given period.
As a formula, where conversion rate = CR, the number of goals achieved = GA, and visitors = V, hence the simple formula CR = GA ÷ V.
A conversion rate is a crucial metric that answers an important question when marketing online. If people are going in the direction that you intended them to go, you can say that your site is converting. Several factors affect a high conversion rate. From the visitor’s level of interest to the attractiveness of the offer, the ease of navigation to the aesthetics of the landing page, and everything else in between, they can all affect the site’s conversion rate.
The Importance of Conversion Rate Optimization
Why should you, as a business owner, care about optimizing your website’s conversion rate? Because it lowers your cost per acquisition (CPA)! Conversion rate optimization helps you acquire more customers in a shorter period. You get more value from the visitors and users that your site is already getting.
If a business website is not generating leads, they implement SEO, SEM, SMM, or a combination thereof. If the same business is already getting leads from these marketing efforts but wants to maximize those leads, they have options:
- Buy more ads, spend more on PPC;
- Do targeted SEO to increase traffic;
- Offer more products or come up with new products to sell.
- Implement CRO strategies or hire a CRO specialist
Conversion Rate Optimization Strategies
There are a few quick ways to optimize a site’s conversion rate.
A/B testing is conducting a scientific research study or commonly known as split-testing. It is an experiment where two variables, two comparing versions of a web page, are shown to similar visitors at the same time. Testing the subject’s response to both variants will determine which version converts better. The tests are often tied to users with cookies, so they don’t see a different version of the page every time they visit the site. The key component here is time; it is essential to collect enough data to conclude.
A customer value proposition, or CVP, is a short business statement that describes why a customer should buy or do business with you. It should clearly state how your product will solve the end-user or customer’s problem, improve their situation, and do business with you instead of your competition.
Call to Action
A call-to-action, or CTA, should be attention-getting and tells explicitly customers exactly what you want them to do in your site. It must be defined and in a prominent location.
Build a conversion funnel for your business site based on target audience behaviors and touch points. The funnel should guide the visitors towards converting. A conversion funnel is a way to visualize and understand the flow and conversion of a potential visitor to a paying client.
Capture information from leads using your online forms. Having a fillable form in your site gives you the ability to market to them via email and other methods.
We all know that Search Engine Optimization is the process of growing organic or free visibility in the search engine results for specific keywords. SEO is imperative in the success of conversion optimization. First, you must improve the search rankings of your site to make sure people searching for your product or service can find your website. SEO is the initial step in generating leads from your website, thus a conversion. You cannot optimize a conversion if your site is not converting in the first place.
Common and Conversational Language
Most people want to read to read something they can understand and relate to. Unfortunately, marketers try to sound technical and smart when they sit down and write. Instead of keeping it simple and using conversational language, they try to find the most complex terms and descriptions, use them to sound sophisticated. That’s not only dumb, it flat out doesn’t work. All people need to know are the features of such product and the benefits of using it. There’s no need to complicate things; most customers aren’t looking for technical insights.
Sense of Urgency
Letting customers know that they only have a limited time to act on an offer will help them make a decision faster. Ever heard of the term, “analysis paralysis?” It’s when someone over analyzes or over-thinks a situation that can them to become paralyzed and cannot take any action or make any decision. If a situation is viewed as too complicated that the customer fears potential error can be made, thus, preventing a resolution. Having a sense of urgency to make a decision right away helps mitigate this situation.
The sense of urgency must be real and authentic. People know if a business is playing a game with an offer or they are genuinely giving a legitimate offer that will only last for a short time or supply. Make your offer authentic; otherwise, the customer’s trust will be gone forever. The sense of urgency must be real and authentic. People know if a business is playing a game with an offer or they are genuinely giving a legitimate offer that will only last for a short time or supply. Make your offer authentic; otherwise, the customer’s trust will be gone forever.
Improve User Experience
Your website’s usability must make it easy for customers to navigate your site. Improving the user interface of your site will lead to a high level of usability. Certain colors affect mood, great-looking and aesthetics gain user’s trust, illustrations or images make the site attractive. These are some ways you can improve and polish your website or landing page.
A testimonial is a formal statement left by a satisfied (or unsatisfied) customer. It is defined as “a person’s written or spoken statement extolling the virtue of a product.” Having genuine client testimonials in your site denotes trust and credibility. People like to know how many satisfied clients you have if any. In today’s digital age, testimonials are a determining factor of whether a visitor will do business with you or not.
In business, revenue is the most important gauge for success. Conversions, on the other hand, are the next big thing. You can increase the percentage of people visiting your site to end up becoming paying customers. By optimizing the resources that you already have, you can increase the revenue and growth of your business.
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