Conversion rate optimization (CRO)
Keypoints to Keep in Mind About Conversion Rate Optimization in 2021
Key point to consider in 2021 for better website conversion
Introduction
Conversion is the act of persuading someone to take directed action to fulfill your goal. Conversion rate is the percentage of those people who perform that action versus the total number of people who visited your site, saw your ad, ended up on your landing page, or added products to the shopping cart.
To better understand the efficiency of your marketing efforts, you have to know how many people are interacting vs how many are reaching the final goal. Following are the basic questions that will give you the complete guide to conversion rate optimization (CRO).
What is the ultimate objective of conversion rate optimization?
The only goal is to convert more and more visitors to become your customers. CRO aims to make your existing customers buy more often and also to increase the money spending. To serve this in a better way, you need to understand customer behavior by extensive data analysis. With this data, you can start giving suggestions most similar to the product or service which users are looking for. You might have seen this mainly in eCommerce platforms. But you can utilize this kind of strategy in other domains as well. For example, a user looking for data analytics services might be interested in data visualization services as well as this will help them understand the data results in a better way.
Once you have all the data in place, you can make your pages similar to which are giving high conversions and remove those which are failing to generate leads. If you don’t have enough landing pages to compare, you can use the analytics to find those pages from where people are bouncing out. In this data, if you observing the pattern that people are landing on the page but then switch to another page, then it’s time to do some investigating as chances are there is something that is making people drop out.
Every business targeting to increase their leads and sales through online medium, take the conversion rates very seriously. For these businesses, improving the conversion rate automatically brings in higher revenue.
Why is conversion rate optimization important?
Conversion rate optimization is a systematic way of optimizing a website to achieve your business goals. By optimizing your website, you can enhance customer experience, increase website visitors, and eventually, these all will have a positive impact on your business.
Conversion rate optimization is considered one of the most important pillars of brand success as it allows you to lower your customer acquisition costs by getting more value from the visitors and users. By optimizing your conversion rate you can acquire more customers, increase revenue, and grow your business. Keeping a thorough check on conversion rate will always help you in growing more conversions by providing a better experience to the users.
The ultimate purpose of every business is to increase its sales by converting more and more customers. To optimize your landing pages to get the highest number of conversions, a lot of research and analysis is required to find out which methods are giving better results. Then out of these results, you have to test that which will be most efficient for you.
What is the ultimate objective of conversion rate optimization?
The only goal is to convert more and more visitors to become your customers. CRO aims to make your existing customers buy more often and also to increase the money spending. To serve this in a better way, you need to understand customer behavior by extensive data analysis. With this data, you can start giving suggestions most similar to the product or service which users are looking for. You might have seen this mainly in eCommerce platforms. But you can utilize this kind of strategy in other domains as well. For example, a user looking for data analytics services might be interested in data visualization services as well as this will help them understand the data results in a better way.
Once you have all the data in place, you can make your pages similar to which are giving high conversions and remove those which are failing to generate leads. If you don’t have enough landing pages to compare, you can use the analytics to find those pages from where people are bouncing out. In this data, if you observing the pattern that people are landing on the page but then switch to another page, then it’s time to do some investigating as chances are there is something that is making people drop out.
Every business targeting to increase their leads and sales through online medium, take the conversion rates very seriously. For these businesses, improving the conversion rate automatically brings in higher revenue.
What are various testing methods for conversion rate optimization?
The process of running various tests will help in finding out that if a particular change on the website will provide better results or not. There are mainly 3 ways to run a test:
- In this testing method, two or more variants of strategy are shown to users and as per the statistical analysis obtained from it, it is determined that which method will perform better for a given objective. A/B testing is generally applied where there is not much complex changed required to verify the cases.
- Split Testing In this type of testing method, certain goals are achieved by conducting controlled, randomized experiments with the goal of improving a website metric, such as clicks, form completions, or purchases. Split testing is helpful where heavy modification is required as compared to the original version.
- Multivariate testing is used where you want the test to multiple test cases on a page. In this technique, statistical hypothesis testing is applied to multivariable systems, typically consumers on websites.
What are the factors playing a vital role in conversion rate optimization?
There are many factors that can help you enhance the conversions. While planning for the strategies, one should consider the following options:
- Research and analysis to test the response from the users
- A clear idea of the target group
- Website Traffic, as with higher traffic there are chances of higher velocity of conversions
- Consider CRO as an extra hand of SEO, not a replacement. If implemented correctly, then it could prove to be an SEO multiplier and could increase online presence as well.
- Maintain your value proposition through the page
- Eliminate the FUDs(fears, uncertainties, doubts) of the visitors with the content you are serving
What should be the design of the landing page?
In Conversion Rate Optimization, a landing page is the most important factor to improve the conversions. This page exists for one reason: to get more conversions. So if you can increase your landing page conversion rate by let's say 10%, then that s 10% added directly to your bottom line.
The high number of conversions depend on the attractiveness of the landing page. The content should be easily understandable and in a flow. The visitors can easily understand what you want to deliver. The CTA goals should be wisely placed which will increase the chances of getting conversions. The design should be in a way that will guide the users with directional cues.
Some other key points related to the landing page are:
- Informative search result: The user is searching for any particular service or product then it’s quite possible that he already knows a bot about it. The information you are serving should look like that you know and understand your product or service.
- Need recognition: The visitor recognizes a need stimulated by stimuli. This stimulus could be internal or because of the content you are serving. If he finds out the commitment level and he can trust you because of the inspirational content shown, he can prove to be a potential customer.
- Validation of the product of service: The visitor has come one step closer to convert to a customer, now you just need to prove the validation of your product/service. This will help you in validating your credibility and convince the user that you are the right choice. For this, you can showcase case studies, testimonials, etc.
- Action: To finalize the step of converting the visitor to your customer, you need to show your commitment and worth to him. You can provide him with the necessary information to prove your value and reliability.
- Post Action: Getting customers is one task and retaining them is also every other. You need to make that he is satisfied with your service and product. You just need to tend to your customer needs and fears which will increase the chances to make a repeat purchase.
Conclusion
Conversion rate optimization is not a very difficult task, but if you are not an expert, you should consult some conversion rate optimization services to better guide you to find out the best possible method for you. This will help you in enhancing the brand engagement and hence the business value.
Drive better results by understanding customer data
Originally published at https://www.nabler.com.
