Conversion rate optimization offers one of the quickest, most effective methods for turning your existing web traffic into paying clients.
Also known as CRO, conversion rate optimization can involve numerous tools and strategies, yet they’re entirely intended for something very similar:
Changing visitors into leads and leads into customers.
There is a lot of conflicting and enlightening data out there about CRO. For example, one study found that using long-form landing pages increase conversions by 220 percent.
But, some companies find that short-form landing pages work better for their audiences.
Thus, about 75 percent of businesses who responded to another study stated that they struggled to find specialists to optimize their landing pages.
Moreover, 84 percent of landing pages have navigation bars, while studies show that removing navigation can boost conversions by up to 100 percent.
These numbers all illustrate why we need to concentrate on CRO if we want our businesses to succeed.
What is CRO?
Before we dive into how to do this, we must first understand what CRO is. Conversion rate optimization (CRO) is the process of improving your website or landing page experience based on website visitor behavior to help improve desired actions (conversions) on the said page.
With all the efforts made with SEO and PPC in digital advertising, we know that online traffic is highly irregular. If you don’t get someone to enter your sales funnel on the first try, then the chances of them coming back and performing the desired action plummet quite a bit. So assuming you have traffic to your website, the best way to improve your chances of getting people to sign up for your mailing list or buy your product is developing CRO campaigns.
If you optimize correctly, you will reduce the amount of money and time lost from your other marketing efforts.
If traffic is the water, and your website is the leaky bucket, think of CRO as the sealant or bandages that fix that bucket, so fewer leads are lost. Plus, CRO helps you understand how usable your website is while giving you insight into client’s behavior.
With these insights, you can figure out how to improve your user experience to meet your goals.
A CRO team typically looks something like this:
- Conversion optimization specialist (2-3)
- UX designer
- Front-end developer
- Customer research specialist (part-time)
- Analytics specialist (part-time)
- Data analyst (part-time)
- Product manager/Program manager
How to determine Conversion Rate
To understand the effectiveness of your website, you’ll need to measure this in conversion rate. The conversion rate is the number of conversions divided by the number of visitors (in a given time) x 100.
So if you had 4000 visitors, and 30 of them took action (filled out your demo request form or bought an item), your conversion rate would be:
30 / 4000 x 100 = 0.75%
Regardless of how stellar your conversion rate is, this doesn’t straightforwardly liken to income
Your business doesn’t run on conversions. It runs on revenue. Your conversion rate can go down while revenue goes up at the same time. It’s not uncommon to see A/B tests on e-commerce websites where variant A has a lower conversion rate than variant B but brings in more revenue. And at the end of the day, the increase in money is what we want.
How to Improve CRO for your website?
Have well-defined goals
Whether you’re an in-house CRO expert or a consultant, you need to set expectations correctly when it comes to your work. And this is essentially a critical point in any project and isn’t unique to CRO. If expectations aren’t set correctly, you are going to end up with angry management.
How do you set expectations correctly? When we take on a full engagement, our customers are essentially expecting that their conversion rates will increase. We have to do a little education on what that means: If a test increases CR for a specific page, it doesn’t translate into that increase for the overall website.
Look at any marketing activity or project that needs to have well-defined goals. It’s not rocket science or anything new. The urgency of KPIs and OKRs is something real that impacts conversion rate optimization first and foremost. The project overall should have a qualitative, and each change should have an accompanying goal. This will help define the direction of the project and even the way the changes will be made.
Additionally, some necessary information on statistics and conversion rates, in general, is essential to clarify how and what increases mean to the success of the project.
More than one method to find meaningful insight
Dealing with a CRO project means the team needs to conduct subjective data, deduce meaningful data from it, conduct on analytics assessments, read heatmap data effectively, conduct usability tests, and more to get the full picture of what is happening on the website.
Tips to Identifying insights
- Integrate and Aggregate information and look for common points
- Go beyond words & observe consumer behavior
- Peel back consumer layers by going deeper
Keep testing everything, including your campaigns, pages, and forms. Constant testing means that every element will be best optimized for audience conversions. You want to keep testing different CRO elements to help you put out a version that will drive more people to click, fill out forms, or convert in other ways.
However, if a website has the traffic and conversion volume, we take our testing up a notch. What is critical, however, is never to do what we call: reckless testing. Tests that have no evidence or data or reasoning. Anyone can do that. As a CRO managing a CRO project, well, that is simply undesirable. Your tests have to be rooted in meaningful data and a meaningful thought process behind it.
Limit the number of changes
Sometimes tests are bundled, meaning there is more than one chance in a single test. That isn’t always the best approach if you want to identify what change had the most significant impact! That’s why we encourage the changes to be limited to pinpoint, which change had the most significant impact.
Optimize your forms
If you want to improve CRO, start by looking at your forms.
The forms on your site can often keep users from converting. If users are confused by your form fields or if they take too long to load, you risk losing potential conversions for your business.
You must look at your forms and see what might hinder your audience from completing them. A heatmap could be a great indication as to where your audience clicks the most. You may find that they fill out the first few blocks, but they stop after a certain point.
If there is a certain page which is not getting right CRO, book a call with our experts and discuss what could be the issue.