What is Conversion Rate Optimization – CRO?

What is Conversion Rate Optimization?

 

Conversion Rate Optimization-CRO is the process of increasing the percentage of people or visitors on your website and by understanding their behaviour and actions, optimizing the website or landing page of the site. Their action could include signing up for a service, clicking on a link, scrolling through, clicking ‘add to cart’, filling out a form, or otherwise.

CRO is about studying your customer behaviour and the different actions they might take while being on your website. You have to notice whether their actions are helpful and what is lacking on the site if they are not completing the goals you have set.

Online traffic has become very inconsistent as there are multiple options available in the market and the competition is tough. Even if you get some traffic on your website, the chances of converting them is quite low. You lose an opportunity to convert them. This is where CRO plays a key role for you!

Conversion rate is calculated as the number of conversions to the number of visitors and multiplying by 100 to get the conversion rate in percentage.

 

⅔ x 100= 66%

 

A higher conversion rate means that your website is well designed, appealing and effective to your target audience.

 

Top Primary Elements of Conversion Rate Optimization-CRO

 

You are bound to encounter different elements of your website or business while trying to optimize for better conversion.

Let’s have a look at these elements;

 

1. Website content

 

With good content and well used words there is a high possibility to get quality traffic on your website and an increased number of sales. A good content also determines the difference between the time spent on your website by visitors.

Headline of the page/post : the headline will determine the first impression you leave on your visitors. If they like it they will choose to stay on the page and scroll through the content. Give major focus on formatting and writing style. Keep the headline short and relevant to the product or service.

Content : Body content must hint at the basics of your business and what issues it’s trying to address. It should be relevant and to the point. Again give major importance to formatting, writing style.

 

2. Design of landing pages

 

Be thoughtful while designing your website landing page as it is the first thing a visitor will have a look at visually. Keep it simple, aesthetically pleasing and authentic. Use a good, bright colour palette wherever necessary. Highlight on your “add to cart” option using a colour that stands out.

 

3. Website structure

 

Give a simple structure to your visitors which they can explore. Website structure is like an algorithm or a branch structure to guide your visitors. Your website will have various categories, pages, sub pages, and sub categories so the navigation through these must be simple only then your visitors will take interest in your website.

 

4. Page speed

 

The loading speed of your website should be as low as possible. If it loads slowly, the visitors will lose interest and choose other pages and or websites to search for their needs. You will lose out on an opportunity for a potential visitor to buy on your website. Make sure your site load speed is around 1.5 secs to 2 secs. Load speed plays an important role in conversion rate. 

 

5. Call to action- CTA

 

A call to action is a request you make to your customers to carry a specific action on your website. These actions could be subscribing to a newsletter, booking slots for webinars, buying products, signing up, adding to cart and so on. Keep your call to action very clear as it helps in generating leads.

 

6. Forms

 

Keep your forms simple and fewer fields in an understandable manner. This will help you better quality information from your potential customers or leads. You will be able to understand the demographics of your customers well. You can tweak your business according to the information gathered.

Guide your users to set passwords that are easy to remember. Password setting takes up alot of time so make sure you allow them to set easy passwords and guide along the path.

Your forms must be really well designed. Clear and balanced style, relevant matter, appealing texts. Keep the most important fields at the top of the form.

 

Keys to successful Conversion Rate Optimization-CRO

 

For successful conversion rate optimization you need to understand what to optimize and for whom to optimize the content. For this you need to gather data and analyze it well.

 

1. Quantitative data: 

 

Also known as the Analytical method which helps you collect numerical data to track the actions on your website. Google analytics is a great tool to start with and later start tracking you conversion rate.

Analytical method can help you track;

-Features mostly used by the customers; where are your customers spending their time on your website.

-Devices and browsers used by customers

-Demographics of your customers like age, interests, income

-Where did your customers come from, how did they get on website, which channel/referrer brought them to your page

-the landing page of your website where people face their first interaction with the site

-when do customers leave your page, at what stage of the conversion funnel

With the help of this data you will be able to understand where you need to focus more, what pages are most engaged and which area is most impactful.

 

2. Qualitative data:

 

Also known as the people method helps you collect non-numerical data to track the actions on your website.

This method is very useful to understand the behavior of people or visitors on your website, when there is diverse content present on your site. This gives you a 360 degree view of your audience and their choices. You can pour in more effort in the right direction once you know which content is more valuable and what kind of customer base you hold.

Study all your visitors and users of the website. You will have to target an ideal customer base to get the relevant information. The people method is more subjective.

 

Collect the relevant information by;

 

-Customer satisfaction surveys

-User Testing methods

-Surveys

 

People method can help you track;

 

-audience engagement 

-purpose of visitors to navigate your website

-appealing product or page

-difference between you and your competitors according to your customer

-any feature or service that makes your website stand different from others increasing the conversion rate

-customer view on your products or services

-customer pain points

-word of mouth

 

Getting a hold of this data and combining everything well, you can get a better understanding of your website and business. You can make efforts in the right direction to perform a better conversion rate optimization- CRO.

 

Benefits of CRO for SEO

 

1. Customer Insights

 

CRO can help you understand the type of audience you need to focus on and what ways to implement to benefit them. Having the right quality traffic for your website can increase the profits majorly.

 

2. Customer/User Experience

 

It is important to know how your users feel when they visit your website. Are they feeling smart, valued, attended, empowered, sophisticated? If they feel positive about your website, they will stick around and visit your website many times. With CRO you would know what works on your website and what does not. Work and expand the thing that works for your website, it will bring more value and better customer experience.

 

3. Scalability

 

Sometimes your audience number does not grow in proportion to the growth of the website. CRO helps in such scenarios by letting you grow and getting you the right customers to visit your website. You will grow in your business if you are careful enough to turn the browsers into potential customers who are buyers.

 

4. Trust

 

Trust plays an important role in businesses when you expect your customers to share their financial information to buy your products or services on the website. So you have to make sure your website is protected, professional, courteous and is able to resolve any query of your potential customers.

 

5. ROI

 

Making the utmost use of available resources, you will be able to have better conversion rates without having to need more visitors or customers on your website. This helps you gain better ROI. CRO helps you analyze the performance of your website by conducting few tests and analyzing the best possible patterns to gain conversions.

 

Benefits of Conversion Rate Optimization(CRO) for Website

 

1. Landing page

 

Landing pages can be optimized by adding certain images and videos of any past events which are relevant to your current motto of business. Hsi will build trust amongst visitors and generate potential leads. This will lead your potential customers to take the actions of either signing up or downloading the content. You will be leading them to take desired actions.

 

2. Blog pages

 

Blogs determine the conversion rates at a very high level. Make sure your blogs content relevant information about the topic, your industry and the issues you are working on. You can optimize blogs by leading your customers to take desired actions of signing up for a newsletter or inviting them to read more about the topic. This is known as call to action-CTA.

 

3. Home page

 

Home page creates the first impression of your business on the visitors. Creating an appealing homepage can lead to potential buyers by guiding them. Add links that lead the visitors to product information, add chatbot and so on.

 

4. Pricing page

 

Optimize the pricing page using CRO by adding the price-per-year V/S price -per-month intervals. Describe the product well, add product information to justify the value, mention the features. Pricing page is the make or break stage for the website and business.

 

Conversion Rate Optimization (CRO) Strategies

 

1.Test your landing pages by running A/B tests to optimize it.

2.Make your leads the marketing qualified leads by allowing them to take various actions through CTA.

3.Add CTA to your blog posts. Blog posts generate more than 90% of the leads.

4.Add various lead flows on the pages. Lead flows are pop ups designed in different ways like drop down banner, pop up box, slide in box.

5.Use chatbots or Live chat options on high converting pages to offer them realtime support.

6.retarget visitors who left your website without taking desired action.you can reach them through ads, offers, emails to remind them of your business.

By Media Lab
17 June 2021

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