Make your website work for you and generate more qualified leads with conversion rate optimization (CRO). In today’s online world, website traffic is everything. If you’re unable to get people interested in what you have to offer, the odds of them returning to perform the desired action is low. While increasing traffic can lead to more sales, converting new visitors into paying customers is best.
What is conversion rate optimization (CRO)?
Conversion rate optimization (CRO) is an online strategy for improving your website to increase the number of leads you generate. Simply put, it involves optimizing your website to help increase the chances of a visitor taking a desired action on the said page. In the long run, this results in lower acquisition costs, qualified leads and increased revenue. Whenever a visitor makes a purchase, signs up or attends an event, it’s called a conversion. A conversion is an action that a website visitor takes in response to your call to action. This is the fastest, most effective way for turning your existing web traffic into paying customers.
For example, a conversion can be a visitor clicking through to a product on your homepage, a visitor starting a free trial or an email subscriber clicking a landing page. Conversions are dependent on the goal that a particular part of your website serves.
The goal of CRO is to reduce the number of customers you lose at each stage of the buyer’s journey and maximize the conversion you get from your traffic.
What is a conversion rate?
Conversion rate refers to the percentage of visitors who take the desired action – making a purchase, downloading an eBook, signing up for an email newsletter or attending an event. When it comes to conversion, there are high conversion rates and low conversion rates. A high conversion rate means your website is well optimized and attractive to your target audience. A low conversion rate happens when your website is underperforming. Whether you have a high/good or low/bad conversion rate depends on factors such as your industry, goals, target audience and traffic channel.
Conversion Rate Optimization: Why Does Your Conversion Rate Matter?
In an online world where competition for attention is at its peak, it’s important for businesses to convert as many as possible from their traffic.
- Improve customer insights to build better user personas. CRO lets you know what motivates your website visitors to convert.
- Maximize profits from current traffic: When you make CRO a part of your company, you’re preparing your website to cater to the right audience, resulting in more conversions and increased revenue.
- Shorten lead-to-purchase time: You’re essentially placing intuitive triggers throughout the website that push visitors towards conversion through ongoing iterations that boost conversions.
How to calculate conversion rates?
To calculate your conversion rate, you need to know the number of unique visitors (people who see the CTA) and the number of people who take the desired action (conversions) you have received over a particular time.
You can’t have a 100% conversion rate and that’s fine. The average conversion rate is between 1-3%. However, a good conversion rate is between 2-5%. If you have 10,000 visitors and your conversion rate is 5%, that means about 500 of your visitors performed the desired goal.
Conversion rate = No. of conversions/Total number of visitors x 100
To find your conversion rate, divide your conversions by your visitors and then multiple by 100 to get a percentage.
Let’s say you sell men’s wristwatches. If you run a marketing campaign that attracts 2,000 visitors. If 50 of your visitors made a purchase, you have a conversion rate of 2.5%.
If you want to define conversion by webinar attendance. You divide the number of attendees by the total number of visitors and multiply it by 100. So if you had 500 attendees and 10,000 visitors, then your conversion rate would be 5%.
As a business owner, your goal is to increase the rate of conversions. However, regardless of your current conversion rates, there’s always room for improvement.
Where to Implement a CRO Strategy
You might be wondering, “where on my website should I implement a CRO strategy?” There are four key areas on your website a good conversion rate optimization strategy would be good.
The homepage of your website is a great place to implement a CRO strategy. Your homepage is an opportunity to retain visitors and nudge them further into your website, in addition to making a first impression on them.
For many website visitors, a website’s pricing page can be the make-or-break point. By changing the pricing intervals (e.g., price-per-year vs. price-per-month), describing the product features associated with each price, including a phone number for visitors to call for a price quote, or adding a simple pop-up form, CRO can help a pricing page convert visitors into customers.
For a website, a blog is a huge conversion opportunity. A blog can use conversion rate optimization to convert readers into leads in addition to publishing thoughtful and helpful content about your industry. You can either include calls-to-action (CTA) to your blogs or provide a valuable resource in exchange for readers’ details.
Since landing pages are inherently designed for people to take an action, it makes sense that they have the highest average conversion rate of all signup forms at 24%. An event landing page, for example, can be optimized with a video of last year’s event to encourage visitors to register this year. A landing page that’s offering a free resource can be optimized with preview content from that resource to encourage visitors to download it.
Conversion Rate Optimization: Causes of low conversion rates
Picture this: you run a good business and offer some valuable services. You spend months with the marketing and sales team planning a good strategy to increase more signups. You finally launch your campaign with high expectations. But then nothing happens. You can’t get any of your visitors to convert.
Does that sound familiar?
Poor conversion rate affects your bottom line and your business in the long run
What causes low conversion rates? Let’s take a look at some factors:
Your site is not appealing enough
Does your website make a good first impression? Does it pass the 2 and half-second rule? A visitor is more enticed to buy from you if they like your site. Just think of a physical store – if it’s not attractive enough, no one will enter the shop. The same thing applies to an online store.
Your site is not optimized
It’s one thing to have a beautiful well navigated site. But it’s another thing to have it optimized for search engines. If your conversion rates are low, try implementing Search Engine Optimization (SEO). What this does is that it improves your website’s ranking on search engine results pages.
Your website is not responsive
A responsive website is one that looks good on all digital gadgets – desktops, tablets and phones.
The majority of the population use their smartphones when looking for information online. 73% of UK consumers prefer to shop via mobile devices. With the UK being the third biggest m-commerce (mobile commerce) market in the world, you need to make sure your site operates well on mobile devices.
Lack of Trust
If a visitor doesn’t trust you, he will not make any move to contact you or perform any desired action. That tells you that trust is an important ingredient in any online purchase. To avoid this mistrust, include client testimonials and reviews or case studies on your site.
Time is precious and no visitor wants to waste time. Try as much as you can to make the conversion process as smooth and stress-free as possible.
Lack of clarity
People want to know what they will achieve or get out of your service/product. Have a clear value proposition so they know what you’re offering. A customer needs to know exactly what they will get, why they should want it and how they can buy it.
Conversion Rate Optimization: What is a CRO strategy?
A CRO strategy will differ across businesses. It’s a marketing approach targeted to increase conversion rates; turn visitors into paying customers.
- Include CTAs within blog posts
- Make navigation easy
- Reduce picture size
- Have internal links to encourage click-throughs
- Add lead flows
- Improve user-experience
- Leverage retargeting to re-engage website visitors
- Improve personalization
Conversion rate optimization is a repetitive process.
Define your goals: What goals do you want visitors to perform? Download an eBook? Sign up for a demo? Make a purchase?
Identify your target audience: Who is your target audience and who isn’t? This allows you to create the right message for your ideal customer.
Collect and analyze data: Use conversion rate optimization tools like Do Google Analytics to collect and analyze data. Look for patterns as you collect more data. You can use this data to improve conversion rates. Where are your visitors coming from?
Survey Users: Request that your users participate in surveys or polls. Always keep the questions short and simple to encourage feedback.
Run A/B tests: Always test! You can’t know what offers are working unless you test.
Gather insight from results and repeat: The conversion rate happens over time. Consistency is key in online marketing.
Every business hopes to turn visitors into paying customers. Here are some tips we use to help improve our client’s conversion rates. Our checklist is grouped into 5 – attention check, friction check, discoverability, bounce and legal check.
You want to be able to grab the attention of your visitors. The key areas to focus on are:
- High-quality image or video
- The 5-second rule – can your visitor tell what your site is all about in 5 seconds?
- Top 3 benefits of your service/product
- Text and background colour contrast
- Include a short video
The goal here is to remove barriers hindering your visitor from taking the desired action. Always ensure that you have:
- Minimum amount links and choices
- A minimum amount of form fields
- Consistent CTA throughout the page
- Add a lead magnet to increase incentives
- Show empathy
- Increase SERP
- Be listed on relevant directory websites
A site that takes 1-3s to load = 30% + bounce rate and 3s + load speed = 90%+ bounce rate
- Is your site mobile responsive?
- Build trust with testimonials, awards, certificates and case studies
- SSL certificates
- Include a live chat so visitors can get in touch
- Have an exit popup
- Terms of service
- Income disclaimer
- Cookies policy
How To Increase Your Conversion Rate In 2022
Personalizing your content improves SEO rankings and adds value to clients. Personalization comes from targeting your customer’s needs and interests, understanding their buyer’s journey and creating content that meets those needs. You can use tools like heat maps to offer you insight into your visitors.
To improve conversion rate, try improving your user experience. A user-friendly website is likely to convert.
Improve loading speed
If your website takes too long to load, visitors will abandon it before even considering what you have to offer.
Make it easy for visitors to contact you
As mentioned earlier, you want to make each stage of the buyer’s journey as smooth as possible. If visitors encounter a problem, can they contact you? Add chatbots to make it easy for them to get in touch.
Optimize for mobile device
Nearly everyone owns a mobile device. The UK population prefer to use their smartphones to shop. Prioritize mobile optimization as a CRO strategy in 2022.
Perform A/B testing
Conversion rate optimization is all about testing. Your aim should be to have at least one A/B test on your website.
Create a sales funnel
A sales funnel is the stage a prospect goes through to become your customer. Making a purchase takes time. In some cases, the visitor is not ready to convert. He simply wants to know what you’re about and explore your page. You also don’t want to appear pushy. Create a sales funnel by offering a free trial instead of asking them to purchase straight away.
Conversion Rate Optimization Tools
CRO tools are designed to simplify the process of optimizing your conversion rate.
- Analytics Tools such as Google analytics
- UX Testing Tools
- A/B Testing Tools
CRO: What You Need To Know Before Working With A Conversion Rate Optimization Agency
There are a number of CRO agencies in the UK. Choosing the right one for your business can be stressful, but it’s rewarding. Before you hire a CRO agency, these are some questions you should:
- What do you need to know about my company?
- What is the least successful project you have worked on?
- Can you guarantee an increase in my conversion rate?
Conversion rate optimization is an ongoing process. Don’t let the percentage dampen your spirit. Yes, you had high expectations for your campaign but the conversion rate was low. Analyse to see what went wrong and then rinse and repeat. CRO allows you to understand how customers perceive and use your brand and its services/products.
Ready to increase your conversion rates? Jump on a call with us today and get started with a free CRO audit.