What is Conversion Rate Optimization?
In the modern age of internet marketing, it has become essential for every business to have strong online presence that reaps the maximum benefits. A company’s benefits imply an increase in its sales, profits and Return on Investment (RIO).Many online marketers employ methods like Search engine optimization (SEO), Social Media Marketing (SMM), Pay per click campaign (PPC) and Content Management to generate and direct website users to the website. However, the success of any online business is not just limited to bringing as many online visitors to your website, but requires subsequent conversion of these visitors into customers/ buyers. It is possible to achieve quality traffic and conversions on your website, through another internet marketing and search results optimization process called Conversion Rate Optimization.CRO means to optimize the percentage of visitors on your business website into buying customers
Conversion Rate Optimization involves creating relevancy between your ads and landing pages, developing and maintaining quality content, redesigning the website for user acceptance and accessibility, performing usability testing at each level of conversion and using other strategies to convince the user to make a purchase, once they reach your website. Many businesses see gradual improvement in the sales through making as minor changes in their website as changing the button size or its color. Other than making changes to the appearance factors of a website, most businesses often study the demographics of their web users using the web analytics, and make the necessary changes that convince the user on performing the desired action, based on their objectives; These objectives could include being able to persuade a user to download a form, make a transaction, fill out a personal information form, or take another desired action. However, it is important to understand that conversion is a long-term process and the results cannot be attained magically. You need to work out micro conversions to achieve the results of improved conversion rate.
Why Conversion Rate Optimization is important?
An improved conversion rate is essential for the success of any online business. While having a huge traffic on your website is good, having them to buy or act according to your business objectives is even better. Directing a mass of traffic to your website is a waste of efforts if none of those visitors purchase your product/service or perform other desired actions. A strategic conversion rate optimization strategy can help you make the most of such efforts by increasing the percentage of these visitors who convert into customers. For example, a strong marketing message is one of the many ways you could use to drive potential customers to your website. Using one, not only increases the chance that a user would buy your product/ service, but also leaves a positive impression on the visitors. A well reputed product/service is more likely to be remembered by the visitors and customers, and brings more traffic to your website through positive word of mouth passed on by happy buyers. Therefore, in order to convert a reasonable percentage of users into customers, you need to learn what it is that convinces the users to take the actions that they do and what sends them away. Conversion Rate Optimization is based on the idea of presenting your website as a tool your visitors feel most satisfied interacting and starting business with. Generating ‘quality’ traffic to your website naturally leads to more conversions, making your business prosper. The best thing about Conversion Rate Optimization is that it provides a gateway to success without raising the money spent on advertising. You use the same budget in converting the existing traffic and get rid of inactive users/ visitors. Increasing your Conversion rate can help improve your business growth in many ways. Some key reasons are listed below:
Search Engine Marketing VS traditional marketing: In the digitized world of today, majority of companies have shifted to online world of business and marketing. Internet is a global market where different companies strive to achieve the top ranking in the search engine results. This drives the need to conduct online marketing techniques like search engine optimization, pay per click campaign to provide better visibility of your product/service to your potential customers. Therefore, the competition of search engine marketing is ever growing and builds the need to have better conversion rate for a brighter business future.
Web analytics: Web analytics can help you get far in business prosperity. Today, using a web analytic tool is affordable. Any web site is incomplete without having a web analytic tool installed in it. Web analytic is an efficient way to find out how your visitors interact on your business website, what interests them the most, what it is that they look for on your page and which things they click on frequently and don’t click on at all. You can find many web analytics tools with a varied set of features to suit your business requirements and goals; one of the most widely used is Google analytics and is available for free.
Evolve and maintain your Business website standards: Continual improvement in all aspects of your business website is essential to achieve the desired results. Among the many aspects, one of the important micro-conversions involves testing and improving your website. Though it is almost impossible to have a perfect website, but you can certainly work to achieve best standard of a website. Using A/B and multivariate testing methods, you can provide quality content to your website visitors, so as to generate maximum revenues.
Split-Testing:Using A/B and Multivariate testing approaches can help you test what changes bring most benefits and positive response to your website. You can use free testing software like Google Website Optimizer and other affordable testing software to improve the conversion rate, while you are at it.
Usability Testing: Using the website yourself and making your friends and family check how user friendly and acceptable your website is, helps in presenting even better service.