Getting traffic to your website, still could not manage to get profitable results? Well, you need to work upon optimizing your website content to enable your visitors to take the desired action. If people are visiting your website but are just ideally scrolling through your content with no purpose, then all your digital marketing efforts are going down the drain. You must look out for conversion rate optimization (CRO) to meet your digital marketing goals.
What is Conversion Rate Optimization?
Digital Marketing success is a complex task to achieve with the amount of competition and the ambiguous behavior of your audience today. Getting traffic to your website is only the first step of the conversion funnel, you must convince the visitors to take the desired action on your website which might be anything from subscribing to your newsletter, joining your group, or buying your product or service. This process of optimizing your website as per your visitors’ behavior to increase the probability of them taking the desired action on your website is known as Conversion Rate Optimization.
To put it in simple words, Conversion Rate Optimization is the process that lets you identify the roadblocks of conversion and help remove them. It saves your time, effort, and money that goes into getting the traffic and desired conversion rate.
What is Conversion Rate and how is it calculated?
How would you know that your website is fulfilling its major role of getting you the desired results? It is possible when you have set up some goals that you wish to convert through your website. Keeping a check on these goals can help you analyze how successful your digital marketing strategy has been. Businesses tend to identify some small as well as big goals for their website that measure their website’s success rate in converting the visitors into their customers. You might have a goal of getting subscribers through your websites or getting more sales. So when a visitor on your website performs a particular action that meets your goal, it is termed as a conversion. In layman terms, you have successfully converted a visit.
Conversion rate determines how successful has been your digital marketing strategy as it indicates the number of conversions you gained on your website during a particular period of time. Conversion rate is calculated by dividing the number of conversions you get by the total traffic your website gets during a specific time period.
Why is Conversion Rate important?
Suppose you own a shoe shop in the center of a market. It is likely if your displays are good you will be getting a lot of customers, however, the number of sales isn’t as expected. That means you are getting visitors to your shop but are not able to convert them into customers and get sales. So your conversion rate is not up to the mark. Similar is with an online business, getting visitors to your website is not enough, you need to convert them by convincing them to take suitable action when on your website. On an average, if your conversion rate is anywhere around 2 to 4%, then it means you are doing good, but that does not mean that businesses cannot achieve more than that.
Conversion Rate Optimization is the process that helps you improve your conversion rate. It involves optimizing your landing page to meet your visitors expectations and ensuring that they convert.
How CRO Benefits you?
Valuable Customer Insights
Conversion Rate Optimization is getting the right customers for your business. Hence, it helps you in getting a better insight of who your customers are and how they react to your website. You can make use of various online CRO tools to know the customer behavior upon visiting your website. Also, you can do surveys and polls to get your customer feedback. It can help you determine what sections of your website are most visited and lead to conversion and also those that cause friction, causing visitors to drop off.
Increased Return on Investment
Conversion Rate Optimization works to increase the conversion rate which means you can gain more customers with the same traffic. Reaching out to more audience would require additional costs on campaigning and implementation but it still does not guarantee increased conversion. However, with CRO, every modification or implementation done helps you to increase your conversion that ensures better ROI.
Improved Website Interface
CRO allows you to study your audience behavior and make changes accordingly. With a better insight of what your customers want, you can work upon creating a good website interface that gives a great user experience. With Customer Rate Optimization, you also get to know the basic issues in your website. CRO lets you identify the loopholes in acquiring more customers, fixing those loopholes, can help increase customer engagement leading to more conversions.
Increased conversion with lower costs
Instead of focusing on getting more audience, one must focus on increasing conversion. This can be achieved easily by Conversion Rate Optimization. It lets you get more customers without running out of potential audience and resources. Thus, you can increase your profits without spending more on unnecessary campaigns to gain more audience.
Enhanced Customer Trust
With businesses requiring personal information from customers, it becomes necessary for them to gain customer trust. Remember, your website speaks for you, hence you must make efforts to create a secure and prompt website that customers find reliable and trustworthy.
It is necessary for businesses to know what percentage of visitors are they able to convert. If you are clueless about your website’s conversion rate, then you are majorly missing out on your potential market. Conversion Rate Optimization is a proactive way to increase your profits within the budget.