A Detailed Guide to Conversion Rate Optimization
No matter what you read online, the truth is that there’s absolutely no hack or shortcut to increase your website conversion rate. The only way to do so is by making sure that you deliver what your audience wants. You need to absolutely understand the requirements and problems of your audience, and solve them effectively.
This article further explains everything that you need to know about Conversion Rate Optimization (CRO). Let’s deep dive into this widely debated topic and understand what it means, how you calculate CRO, and what you can do to improve it.
What is Conversion Rate Optimization (CRO)?
In simple words, Conversion Rate Optimization implies increasing the percentage of users on a website who perform any action on a website. This action could be anything; be it subscribing to newsletters, clicking any button, making a purchase, filling out any form, or anything.
To expand it further, CRO can be termed as a process of the factor that drives users to perform the action that you want on your website. It can be a specific area on your website, a piece of content, an offer, or anything.
It’s an obvious thing that you must be absolutely clear with the factors that drive visitors to complete the action you want, and nailing conversion rate optimization can do so.
Types of Conversions
The primary benefit of CRO is that it helps you persuade users to take the actions you want. Hence, your visitors become your lead, and hence, conversions.
It’s necessary to know the types of conversions to ensure that you are able to formulate your CRO strategy effectively. There are two types of conversions. Let’s check them out.
- Macrocoversion: Actions that a user takes on the website that fulfills your ultimate goal is termed macroconversion. Some primary examples are making a purchase, subscribing to newsletters, etc.
- Microconversion: Any action that takes a user a step near to macroconversion is termed microconversion. Some examples include adding a product to the cart, reading the entire content of the newsletter pop-up, etc.
Image Source: Google
How Do You Calculate CRO?
CRO is calculated by dividing the number of people who took the desired actions by the number of visitors on your site and then multiplying the result by 100. Ultimately, you will be calculating the percentage of people who took desired actions on your site.
Mathematically, CRO is calculated by (Number of people who took desired actions/Total number of visitors) * 100
Let’s understand it with an example. Suppose, your website has 80 visitors and 20 visitors took the action you desired. So, in this case, your CRO will be:
(20/80) * 100 = 25%
We hope that you are now clear with the formula that you need to use to calculate CRO on your website.
Average Conversion Rate
Numerous marketers who are aware of the CRO concept often wonder about what the average conversion rate of the website is. Most sources read that the average CRO of a website can be anywhere between 1% to 3.5-4%.
However, the truth is that the average CRO of a website cannot be estimated as it depends on a number of factors. Some of them are:
- Your conversion goals
- Your target audience. Demographics, age group, gender, etc. matter a lot when it comes to CRO
- The trust level established
- Your rankings on Google
- The UI/UX of your website
- Your laid strategy for effective CRO
What Makes CRO Important?
Now that you are aware of what CRO is, and how you calculate it, let’s go through the major benefits of CRO that make it important for your website.
Get More Customers at Less Cost
Well, as a business, you definitely want more customers, but sometimes, customer acquisition costs go a bit higher. CRO helps you achieve this goal with less cost.
CRO is all about helping your customers to purchase what they want and smoothen the entire purchase journey. Hence, the chances of customer acquisition increase considerably, and all at no or little cost.
Focusing on CRO implies providing a smooth customer experience, which makes customers visit your website again. Hence, CRO not only helps you get new customers, but retain the existing ones too.
CRO Helps You Know Your Customers Better
Well, knowing your customers thoroughly is always better to ensure that you are able to deliver your customers what they actually want & require.
As mentioned, CRO gives you an idea of how a customer navigates on your website, and hence, helps you overcome the factors that are preventing your platform from converting.
Strengthens Your SEO Strategy
You might be investing a lot of effort in the SEO of your website. However, if you aren’t able to provide that smooth user experience to your users, the chances of it yielding the desired results are quite low. Conversion Rate Optimization ensures that your website provides a smooth user experience, which pleases Google, and strengthens your SEO strategy considerably.
Helps with Effective Testing
Well, with CRO, you can test various things on your website. Various A/B testing tools can help you with experimenting on your site, and hence, figuring out the things that work for you and the things that don’t.
Effective testing is one of the most underrated yet important benefits that can help you make sure that you enhance your website as much as you want.
Image Source: Google
Common Myths About CRO
There are some common myths revolving around CRO that can debunk your SEO process considerably. Let’s debunk some of the common myths regarding CRO that you must know below.
More Traffic Implies Effective CRO
Yes, traffic is an important factor when it comes to CRO, but remember that there are several factors playing an important role when it comes to effective CRO. Numerous factors like the user experience your website offers, the content relevance, the graphics used, etc. play an important role when it comes to effective CRO.
Hence, make sure that along with focusing on traffic, you also focus on the other factors of the website and make it deliver the value that your users are actually expecting.
CRO Delivers Instant Results
Yes CRO gives your SEO strategy a pace, but it by no means delivers instant results. It gives you that platform where you can understand your customers and make sure that you shape your website accordingly.
Remember, CRO like SEO is a long process. You need to have a long-term vision and plan revolving around it. Plus, you need to have several backup plans revolving around it to gain the desired results. And, if you have been thinking that results will be reflected in a few days or weeks, it’s time to dump the thought.
CRO Implies A/B Testing & No Research
Well CRO is just one form of marketing strategy, and every marketing strategy demands adequate research before you actually implement it. With CRO, you simply cannot start experimenting and do A/B testing. You need to be clear about your target, understand your customer well, and make sure that you research all bases before bringing it into the execution.
CRO is Just a One-Time Process
This is one of the most common myths revolving around CRO. However, the truth stands on the other side. Be it analysis, testing, or optimization, once you start with CRO, it becomes a continual process, and you need to keep on experimenting with various reasonable things to get results with your strategy.
For instance, changing CTA button texts & colors, changing newsletter themes, updating content, etc., these sorts of things do require continuous modifications and effort from your end. Hence, just keep in mind that CRO is by no means a one-time process. Once you dive into it, you need to upgrade your strategy on a continual basis.
Phases of an Effective CRO Strategy
Like any other strategy, conversion rate optimization too is divided into several phases. These phases are:
Identifying & Analyzing the Situation
Firstly, you need to recognize & analyze the loopholes of your website. These loopholes will be the primary focus of your CRO strategy.
Setting Your Goals
Once you know the loopholes of your site, you now need to set up the objectives & goals you wish to achieve with your CRO strategy. It could be either generating more purchases, making people subscribe to your newsletter, filling out a form, or anything. Be absolutely clear about the goals you desire to achieve with your CRO strategy.
The next step incorporates planning where you plan your CRO strategy. You can interact with your customers, and see what they require. Your sales team will play a major role here. This step will take your maximum time and effort as you are planning a huge picture.
Once you are done with planning your CRO strategy, you now execute the same. You start by experimenting with things you have planned. You start updating content according to the plan.
Tracking & Tweaking
Once your CRO strategy is executed, you keep tracking the results and tweak the strategy according to the results you are getting. As mentioned, CRO isn’t a one-time process. You will have to analyze things and improvise your strategy according to the results you get.
Important Tools for Effective CRO
There are a number of CRO tools you can consider for effective CRO. However, not each of them might yield the desired results for you. You need to be a bit careful and wise while you select your resources. Some important tools you can count on for effective conversion rate optimization are as follows.
Google Analytics (GA4) is one of the most popular tools used by around 40 million users all over the world. GA4 helps you track traffic, user behavior, and traffic patterns on your site. There are various important reports available here that you can check and get information about various metrics of your site. You can easily count on the very reliable GA4 Reports for Conversion rate optimization.
Heap is another reliable tool that gives you detailed insights into how users interact with your website and other platforms. It shows metrics like form click, form submission, etc., and hence, helps you to navigate through the user journey.
If you even have a slight idea of Digital Marketing, HubSpot won’t be an alien platform to you. It is indeed a popular tool that numerous Digital Marketers use to assist themselves with SEO. The tool provides you with information about several metrics that can help you convert leads into customers. If you are looking for something that can help you with both, CRO and SEO, HubSpot is worth giving a try.
Instapage is one of the most popular landing page builders that help you create an amazing landing page as per the user behavior and hence, ensure that it actually yields the desired results for you. The tools help you deliver dynamic & relevant content to your visitors, and hence, help you provide a better user experience to every segment of your target audience.
Conversion rate optimization is a critical factor for knowing your audience better and delivering it the experience that it actually deserves. It can do a massive favor to your SEO. However, there are several things that you need to do right and be consistent with working on them.
Make sure to use the mentioned conversion rate optimization tools aptly to get the best & quickest results with your efforts.
Rest, if you are looking for a reliable conversion rate optimization strategy, you need not look further than us. We can ensure that your CRO strategy is concrete enough to yield quick and long-term results for your business. Our experience and commitment to delivering only the best make us your top choice when it comes to providing conversion rate optimization services to any business domain. Contact us now at +91 836-844-7355 to lead the CRO race.