What is Conversion Rate Optimization and why it’s so important for your business growth?
What is Conversion Rate Optimization?
Conversion rate optimization (CRO) is altering your website in such a way that more visitors perform target action:
buy your product, fill out a form, click an affiliate link and so on.
Do to that, you get feedback from your visitors (both directly and via website data), then you tailor your website to suit your visitors needs and preferences even more, so they act on your offers more often.
Why is conversion rate optimization so important for your online business?
The answer is very simple – it is the most cost-effective way to increase your website’s ROI. Ads and traffic acquisition are very important too, no doubt about it, but if only a few visitors actually become customers – traffic won’t bring you any money.
Conversion rate optimization increases the income you get from the same volume of traffic. Basically, CRO makes traffic acquisition worthwhile.
But this is only the beginning!
CRO can improve SEO
A lot of people are worried that conversion rate optimization may hinder their SEO. Our experience shows that there is nothing to worry about. In fact, CRO improves SEO considerably.
The thing is that CRO is about user experience just as much as it is about the website’s owner income. If the website fulfills visitors’ needs, is clear and pleasant to use, they not only perform target actions, but also spend more time on the website and engage with it. And search engines just love it.
CRO helps you better understand the needs of your customers
For any business it is crucial to understand what makes your customers buy from you. CRO provides you with this insight. Every audit and every test allows you to learn more about your customers, their hearts and minds.
Then, you’ll use these insights to make your website even more appealing for your audience and make sure that the chances of visitors buying from your are as high as possible. In addition, your customers will trust you, since they will see that you understand them. And trust is the most valuable resource for any online business.
How to increase sales through an eCommerce site
Your first task is to determine, which pages on your website bring the most revenue. Usually, this means landing page or product pages, since visitors of these pages are already pretty deep down the funnel. They already know of the product and are making a decision whether to buy it. Thus, you have to make it clear for them that buying from you is better than from anyone else and improve these pages.
- Improve the page layout
- Improve user experience
- Update the content
You can double your sales
without increasing the budget on ads
Conversion Rate Optimization Steps
You have to go through 4 obligatory steps to improve conversion rate on your website.
Doing CRO blindly will never work. First you have to know what you’re dealing with, so website audit is a must. Without it, it is impossible to tailor your site towards your real audience. Also, it would be a good idea to hire a CRO agency to do the audit – they will be unbiased, so they will study the real audience, not intended one, and will bring a lot of experience to the table.
There are two main elements of a website audit:
- Traffic analysis provides data on your website’s visitors behaviour – which pages they visit, which links they click, where they decide to leave your site and so on. There are a lot of tools for that: heatmaps and Google Analytics, A/B testing tools and so on.
- Customer interviews and surveys may be resource intensive, but they are worth it. You’ll get a great insight into your customers’ minds: what they like and don’t like and why they buy from you.
Selection of priority pages to work on
CRO can be overwhelming, so compliance with the 80/20 rule is among website conversion best practices. You want to increase your income and get traction as fast as possible. So select top 5 or top 10 pages that bring either the most traffic or the most revenue and improve them first. It will bring the most tangible results, so you can leave further optimization for later.
Creating a hypothesis
Based on the audit data, you decide, what changes should be done.
There are some key elements that you may want to alter:
- Conversion funnel
- User experience
- CTA button
When you decide, what elements to change and how, you’ll have a hypothesis you’ll be able to test.
A/B or Multivariate testing
You have to make sure that changes to your website really improve conversion rate. It is done through A/B testing – you have both the original and the new versions of the website active and split the incoming traffic equally between them. After some time, you’ll see, which version is more effective. Ideally, it should be the new one.
You can also conduct Multivariate testing – test multiple new versions and pick the most efficient one.
Want to consult about something?
If you still have any questions about how to properly run conversion rate optimization or about digital marketing or you need any help in GA and GTM setup, just send us a message or schedule a free 30-minute call with us. We really want to help you.