Conversion Rate Optimisation
In internet marketing, conversion rate optimisation is a system for increasing the percentage of visitors to a website that convert into customers, or often more generally, to increase the percentage of visitors to take any desired action on a webpage. It is commonly referred to as CRO.
By achieving this businesses are able to generate more leads or sales without investing more money on website traffic thus showing an increased marketing return on investment (ROI) and overall profitability.
The conversion rate is defined as the percentage of visitors who complete a goal, as set by the website owner. Common goals include ‘making a purchases’, ‘requesting a quote’, ‘creating an account’, ‘adding a product to cart’, ‘submitting a web form’, ‘phone calls’ or ‘signing up for a trial’
Your site's conversion rate is measured by the number of times a user completes a goal divided by your site traffic. If a user can convert in each visit (such as making a purchase), divide the number of conversions by the number of sessions (the number of unique times a user came to your site).
An important point to make here is that conversion rate optimization happens after the visitor makes it to your website. This is very different to conversion optimisation for SEO or paid ads which focuses on who clicks through to your site from the organic search results, how many clicks you get, and which keywords are driving your traffic.
Popular testing methods to measure the success include A/B testing and split testing. These testing methods enable one to monitor which headlines, images, copy, social proof elements and content help convert visitors into customers.
The most beneficial method with which to approach CRO is not just from a testing standpoint but also to incorporate an exploration of customer personas and customer intent. This involves investing time in developing a better understanding of the audience and then creating a targeted message that appeals to that particular audience. Once this has been achieved the testing methods will better show increased conversion rates.
In addition to these benefits there are several additional ways that CRO benefits a company.
While CRO is not directly related to attracting organic website traffic or ranking on search engine results pages (SERP’s), conversion rate optimisation has other distinct benefits.
A company can achieve more detailed and Improved customer insights.
Conversion rate optimisation helps you better understand your audience and find what language or messaging speaks best to their needs.
Conversion rate optimisation looks at identifying and locating the right customers for your business. Remember simply attracting more website visitors will not benefit your business if they are not the right kind of people.
Create a better user experience (UX)
When users experience a smart and sophisticated journey through your website they tend to stick around. Often users who feel empowered by your site will increase engagement with it and some may even become evangelists for your brand.
As a method of increasing trust.
In order for any user to share their credit card, email, or any sort of personal information, they must first trust the site. Your site will often serve as your first point of contact and as such needs to be professional, courteous, and ready to answer any of your customers' questions.