Conversion Rate Optimization – CRO
Conversion Rate Optimization is gaining quick popularity. It has seen as a way to increase profits from sales without raising advertising spends.
Conversion Rate Optimization is a very broad marketing strategy. CRO can help you identify areas of opportunity that will result in increased conversions and revenue. Conversion Rate Optimization helps you to find long term strategies to improve your website and conversion rates.
The biggest benefits of Conversion Rate Optimization is with money and leads. CRO eliminates I think and changes it to I know and evaluate the results. With A/B tests and evaluating the results, you will be able to make smarter decisions in the future.
It includes A/B testing tactics along with usability testing, customer journey mapping. The other factors will be copied optimization, personalized / segmentation tools, event-triggered emails. Don’t limit the possibilities of your website by focusing on A/B testing alone.
By optimizing your web conversion rate. You can get more action without spending money on attracting more visits to landing pages or website.
Conversion Rate Optimization and Conversion Strategies:
- Improve conversion rates
- Increase Leads
- Increase sale
- Create amazing content
- Learn CRO best practices
- Test, Analyze and Report
- See ROI results
Data Collection & Processing – It is the most important step for any analysis. This involves getting to know your company, your customers and how the current website’s sales funnel is set up. It will have pre-screening and post-screening process to eliminate the irrelevant data.
Listing Hypotheses – Some changes will be made based upon available data. It may fill some missed information. In hypotheses, changes can be made even on a small part of website or landing page to test. It can be new images or color of a button.
Wireframe New Design – All changes will be incorporated in this phase. They are technically able and consist. Real-time decision making is very much important for better results.
Implementation – Variations of the new design needs to be tested, re-tested and signed off. A better result and effective optimization need best mathematical models.
Verifying Hypotheses – Conversion will increase if all goes well. Failed tests go back to the drawing board. Results checking is a repetitive process. The validation testing, variable selection, and other techniques are used to distinguish true events and chance events.
Conversion Rate is the calculation of achieved goal, to increase the ROI of a business. In digital marketing, conversion rate means the goal achieved in a limited time. The calculation formula is given below for reference.
|Conversion Rate =||Number of Goal Achievements|
Google Analytics is an important tool in conversions tracking.
Organic Ranking (Search Engine Optimization) – You can have potential customers over Search Engine Optimization if customers are aware of your products/services.
Your target organizing for potential customers will reduce cost per conversion. It will give you a clear view of the customer base. It makes the targeting like a funnel and helps a lot in designing market strategies.
High converting copy comes from the standout things you hear or read:
- In customer surveys
- In pop up surveys on your site
- In other site surveys
- From user reviews
- In telephone or in-person interviews
Here’s the minimum that you have to do make it easy for your site visitors to buy:
- In buttons and call to action, avoid friction words, as I show here
- In Forms filling, only ask for as much info you need
- Informs, use auto-fill or pre-fill options
- Offer multiple ways to pay
- Break down large one-time payment into smaller subscriptions
- Don’t make them create an account, remember, a bird in the hands is worth 2 in the bush
- Don’t interrupt them in the cart at all
- Surround payment forms and calls to action with assurances, as money-back guarantees and support messaging
Conversion Rate Optimization for an E-commerce website and Business websites:-
E-commerce website – Website should reach to needy and right people after optimization. Conversion is considerable after visitor’s order or purchase.
Business website – Most of the business website won’t have payment options to track the conversion. Conversion is countable after submission of a visitor’s inquiry. By optimization, the online marketing strategies will help in increasing the inquiries.
Conclusion – Every business with an online presence has a strategic obligation to do Conversion Rate Optimization (CRO).