What is Conversion Rate Optimization for Websites?
Conversion rate optimization should be the end-all and be-all of most marketing strategies. However, few people even know what it is and what it can do for a business. Find out how you can make the most out of your marketing efforts by optimizing your conversion rate.
Do you know the song “Big Yellow Taxi” by Counting Crows? It is about not appreciating what you have until it’s gone. Driving traffic to a site is a bit like that. Countless strategies abound for chasing down new leads and getting unique visitors to a page or site. However, most marketing teams fail to focus on keeping and maximizing the leads and traffic they already have. That is where conversion rate optimization or CRO comes in.
In this article, you will learn what conversion rate is and where its optimization is of best use. You will also find out when CRO is right for your business. Let’s get started.
Defining conversion rate
One of the constants in creating marketing content is the call-to-action or CTA. The CTA prompts people to do the desired action on your post, page, or site. That action may be to fill up a form, register for a service, or buy a product. When they do, this is conversion.
The conversion rate is the percentage of visitors that take action. The conversion rate formula is as simple as dividing the number of conversions by the number of visitors. Multiply the result by 100 to get the percentage.
For example, if you have 50 total visitors and six of them bought a product, then the conversion rate calculator will show:
6 ÷ 50 x 100 = 12%
The average conversion rate for an eCommerce site is 1.84%. If you are getting this type of conversion, you are doing much better than most! Chances are you are already doing CRO, and you can stop reading. On the other hand, if this is just a fancy flight, you need to go on.
CRO or conversion rate optimization is developing content so more people will take the desired action. Your eCommerce site should appeal to visitors in a big way to get anything like a 12% conversion rate.
Does that mean you need a prettier website? That will help, but CRO involves much more than looks. Any CRO strategy you implement should attract people so they commit in some way.
Areas for conversion rate optimization
It is fine to try to use CRO for your whole website. However, you can make the best use of your resources by focusing on four areas.
The first thing most visitors to your site will see is the homepage. You want to make a significant impact right off the bat, so they will want to stay. You need to make sure you CRO it to the max by guiding them to the juicy parts of your site.
One way to do that is to focus on the best features of your product or service. Emphasize your unique value proposition and include links to the product or service page.
You can also get some excellent traction by offering time-limited discounts, freebies, and other offers. The CTA links should always lead straight to the offer or download page.
You can also integrate tools such as chatbots on the homepage. They can engage visitors by asking leading questions or providing answers immediately. Chatbots not only help you generate leads but cut customer service costs.
A landing page is a little easier to optimize than a homepage. For one thing, it is basically a CTA on steroids. Its only purpose is to get people to do what you want them to do.
The thing about landing pages is that people on them are already interested in your product or service. They might have seen the link on social media or from an email. All it has to do is close the deal with a registration form, download link, or add to basket link.
You can get visitors to take that final step by offering previews. It could be for a video or other resource you are sharing. If you want them to sign up for a seminar, include a link to a previous one.
If you are selling a product or service, sweeten the pot. Include any discount or other offer you have on the landing page. It could be that one small thing to tilt the balance in your favor.
If you don’t have a blog on your site yet, start one. Blogs represent a big break for lead generation as well as CRO because it is full of content. If you do search engine optimization (SEO) correctly, you can convert readers with a few simple tricks.
You can use type forms, for one. These are immediate CTAs right in the middle of your content. You can also use a pop-up subscription form to get readers to sign up for a newsletter or get exclusive content. A more direct approach is inserting links that will lead to the purchase page of your products or services.
Be honest. What is the first thing you check when you are thinking of buying something? You check the price, right? In most cases, the cost can be the deciding factor. Keep that in mind when you design your price tiers.
You can drive more conversions by reminding visitors about product or service features. You can also offer free trials, discounts for bulk purchases (e.g., baker’s dozen, annual subscription), or free shipping. Another strategy is to provide a contact number so they can call for a quote.
Optimizing the price page can be a bit tricky. However, it is close to the finish line, so make an effort.
When to use conversion rate optimization
The best time to use CRO is when you have an existing site with visitors. The point of CRO is conversion, not lead generation. Your goal is to turn your existing traffic into customers. To increase your traffic, you need to turn to content marketing and other marketing strategies.
In other words, if you are thinking about putting up a website, then CRO is not yet a concern. However, it is a concern if you have a lot of traffic but a 1-2% conversion rate.
Conversion rate optimization is your best bet for turning traffic into qualified leads and customers. Your website can generate significant revenue. However, it is only as good as your CRO. You need to make sure you are not missing opportunities to convert your site traffic.
Full Scale can help you make the most of your website. We can provide you with website and software developers to ensure you get the conversion rate optimization you need. We also deploy software engineers and other subject matter experts to help SMEs and startups on the road to tech maturity. When you work with us, you are working with years of entrepreneurial experience. Our founders Matt DeCoursey and Matt Watson have seen it all.
Contact us and get optimized!