Before explaining what website conversion optimization is, let’s take a look at each aspect of the term:
1. Website is the obvious one!
2. Conversion occurs when a visitor to your website does what you want them to do, for example make a purchase, sign up for your newsletter, register for an event, or another desired action.
3. Optimization in the context of digital marketing is all about discovering and leveraging the behavior of website visitors to increase the number of conversions.
This leads to the question, “How do I know if my internet marketing is working?” To measure that, divide the number of conversions by the number of visitors to your website (then multiply by 100 for a percentage) to calculate your website conversion rate. The higher the number, the more successful your efforts.
Conversion optimization is aimed at increasing the conversion rate, i.e., upping the number of site visitors that convert into customers. That said, asking “What is a good conversion rate?”, is like asking “How long is a piece of string?” because conversion rates are affected by:
- The nature of the conversion (link clicks, checkout, and so on)
- Each industry, audience, website, and webpage.
Additionally, using analytics tools to calculate a number means you are overlooking the insights about the users behind those data points.
Okay, okay! An average conversion rate is between 1% and 4%. But please consider this figure as just one part of a holistic approach to conversion rate optimization (CRO).
Best Tools for Conversion Optimization
To get the most value from your CRO efforts, use these tools for a greater understanding of what brings visitors to your site, what makes them leave, and what convinces them to convert. When it comes to increasing conversions, a three-pronged approach yields the best results:
1. Find out what users are doing on your website using web analytics tools.
Using tools such as Google Analytics (which is free), you can chart the sources and patterns of traffic on your site, session duration, bounce rates, and more. You can then analyze this numerical data to understand how visitors use and interact with your website. This is the first step to improving your conversion rates.
2. Uncover why visitors to your site act the way they do with user behavior analytics.
Before you propose changes to your website, you must get to the bottom of why users are behaving in a certain way. Although the purpose of this qualitative data is to increase conversion rates, this step is the heart and soul of your business. Making it easy for prospects to convert into leads or sales hinges on a deep understanding of the market you serve.
Typical behavior analytics tools such as heatmaps, session recordings, and bug tracking reveal barriers that users encounter. Add voice of the customer (VoC) feedback tools to the mix, and you will get insights that far exceed a simple percentage value.
3. Compare the number of conversions before and after you have optimized your website with testing tools.
Once you have figured out how visitors are behaving on your website and why they are doing so, it should be clear where changes need to be made. By improving the user experience (primary goal), you will boost conversions.
But knowing what changes to your website will have the greatest impact on your conversion rates is not black and white. The only way to know for sure what your users prefer is to test and measure which change converts more. Testing tools such as Google Optimize let you compare how visitors react to changes you make to your site.
Do not be shy to invest in the tools you need, as the average ROI on CRO tools is 223%. At the same time, strive for continuous improvement over perfection.
The palpable benefit of conversion rate optimization is the growth of your business. Micro-conversions aside, the main aim of CRO is to speed up the journey through the sales funnel.
The cognizance you get from your CRO program allows you to personalize the customer experience and guide users towards making purchases.
You can also draw on CRO insights to segment your clientele and tailoring interactions with them. The right message at the right time helps turn once-off buyers into repeat customers, thereby increasing their customer lifetime value (CLV).
Website conversion optimization also lowers your cost per acquisition (CPA) as you get more buyers from the same amount of traffic with a superior customer experience. This is particularly useful in markets where audiences are limited or competition is particularly fierce. What’s more, you will get more bang for your buck as reports show that for every $92 spent gaining customers, a mere $1 is spent converting them.
70% of consumers admit that they are less likely to make a purchase if a page’s loading time is slower than expected. Consequently, part of optimizing your website for conversion will be ensuring fast load times. Ditto answering search queries with straightforward content that is not only targeting keywords. Along with easy navigation and more, these elements to improve for CRO are exactly the criteria Google uses to rank your pages. So another benefit of a CRO program is improved search engine optimization (SEO) that pushes you higher up the search engine results pages (SERP).
A Sense of Urgency
Any business with an online presence needs a conversion rate optimization program. No matter how big or established, increasing the number of qualified leads, customers, and brand champions from existing website traffic makes sense.
As gung-ho as you may be about implementing CRO right away, there are some drawbacks like the cost, time, and expertise required, Instead of rushing in for a complete website overhaul, think about focusing your efforts on these web pages to start:
- The homepage is the first impression of your brand and is the ideal place to captivate and then guide visitors through your website.
- Your pricing page is further along the sales funnel, so the user is obviously keen. Don’t lose them now! Optimize this page by sharing social proof and customer testimonials, displaying security badges, and presenting recommendations.
- Landing pages are designed to initiate a desired action. Stick to one though, because landing pages with multiple offers get 266% fewer leads than single offer pages.
- Blogs create the perfect opportunity to convert readers into buyers.
For more information on website conversion optimization, contact the experienced digital marketing team at KEY27 Marketing today.