Let’s start with defining what a Conversion Rate is. Conversion rate is simply getting the percentage of your goal (sale,sign ups, registrations,etc) over the number of visitors. The higher conversion rate you get, the better returns for your objective.
So why is Conversion Rate Optimization important?
In today’s business bringing in organic traffic can be a struggle, you can always opt for the paid ads to bring in traffic but it will only mean more cost for you. Conversion rate optimization means that you make sure every potential customer is valued and that you’ll get better ROI (Return of Investment).
For example, a site with 1,000 visitors and 10 conversions has a conversion rate of 1%.
Here’s a quick guide on your conversation rate opimtization strategy.
First is identify your objective. There can be different objectives for the conversion, some examples are – registration, sale, sign ups, use of promo code, play a video, download a file, increase inquiries, etc.
Now after identifying your objective, try to review what’s hindering customers from completing a full conversion. If you are an online shop, your conversion funnel would look like this.
Review the areas where people are dropping off. It could be after viewing the cart they suddenly see a “shipping fee” which customers are not willing to pay. For some, they encountered a problem with high page view for a product but also high exit rate. Later did we found out that the specific product is out of stock, which lead customers to exit the page.
high page view = meaning high interest for the product
high exit rate = but why are people going away??
Now, based on the problem areas you have encountered, you now implement changes on how to best meet your customers needs. As you test these variation, you gather data on the results of the changes you have made. Make sure you are able to have measurable data based on your objectives, or else all your Conversion Rate optimization initiatives will be meaningless.
Lastly, conversion rate optimization is a constant effort. After seeing results with your improvements, it doesn’t mean your website/app is already perfect. There will always be constant iterations which can be minor changes from simply changing your call to action or to a major overhaul of changing the entire layout of a landing page.
Summary
That’s about it! Conversion Rate Optimization will always be a part of your product development. You will learn more about your website and customers and eventually generate more sales for your business.
Some free tools for your Conversion Rate Optimization:
SubjectLine.com – Choose which ones to ship, check them out using this resource
Heatmap.me – This is a great free tool for anyone looking to explore heat maps, responsive web design and real time statistics
Surveymonkey – Create your own survey in minutes, good tool to get feedback from your customers
