If you’ve worked in eCommerce for any amount of time, you’ve undoubtedly come across the whirlwind that is Conversion Rate Optimization (or CRO). If you haven’t heard of it, we’re here to help! If you want to increase your online sales, then conversion rate optimisation should be an essential part of your marketing strategy!
Search engine optimization is the process through which you can increase your website traffic. It involves the use of tactics like meta descriptions, backlinks, and keyword research. The fact is that SEO has become the number one technique that marketers use for driving relevant traffic to their websites. This is where conversion rate optimization comes into the picture. It focuses on generating the maximum percentage of visitors for your business in order to meet a specific goal.
Unlike SEO which focuses on getting more traffic to your website, conversion rate optimization makes sure that your website is easy for customers to find and appealing at the same time. It capitalizes on your dedicated readership. Therefore, you can rely on it for improving your bottom line. To help you realize its potential, our beginners conversion rate optimisation guide offers all the information you need.
What Is Conversion Rate?
In order to understand conversion rate optimisation, you need to know more about conversion rate. In the simplest of words, it is the percentage of visitors your website generates that perform a specific action. When it comes to conversions, there are two different types which include macro conversions and micro conversions. If a visitor takes a big action such as subscribing to your website or purchasing your product, it is considered a macro conversion and it represents the final outcome of the sales process.
On the other hand, if the action is small such as signing up to your email list, it would be classified as a micro-conversion. Although a sale might not be made, the customer would still move along the sales process. Calculating the conversion rate is quite straightforward. In order to calculate the CRO, you just need to take the sum of the conversions and divide it by the total visitors your website has generated. Then, you will need to multiply it by 100. The conversion rate you calculate would be a percentage.
CRO provides a great opportunity for businesses to convert their traffic into sales. The major reason why companies need to consider CRO is that it generates results more quickly than SEO which takes a long time. The fact is that CRO offers immediate results as it does not require businesses to attract more customers. Therefore, it can help increase your revenue exponentially.
How To Calculate Conversion Rate?
Making sure you’re measuring conversion rates across all of your channels is an important component of maintaining a sustainable conversion rate optimization strategy. You’ll need to know how to calculate CRO to do so.
A typical conversion rate calculation looks like this:
Conversion Rate = Total Number of Conversions / Number of Visitors X 100
Let’s say your store had 1000 visitors last month. You had 20 Sales. This leaves you with a conversion rate of 2%.
The average conversion rate for eCommerce stores is 2.67%, but new businesses should aim for a conversion rate of 1-2 percent.
How to Keep Track of Conversion Rates?
In order to track conversion rates, you have a number of options, as mentioned below.
Google Analytics is a free tool that every eCommerce store should be using! You can use the “Goals” feature on Google Analytics for tracking specific conversion actions taken on your website.
A great tool that you can use to visualize your conversions is Heat Maps. It is important that you create a heat map for your website to find out what people notice so that you can place your CTAs (Calls-to-Action) right.
As you are likely to be using different programs, you can use them for monitoring sales and sign-ups. In fact, you should be able to pull the data to find out which CTAs or pages drive the most conversions.
Why You Should Consider Conversion Rate Optimisation?
How to Improve Your Conversion Rate Guide!
6 Simple Steps!
To benefit from conversion rate optimisation, you need to know how to improve your conversion rate. There are a number of things that you can do as mentioned below.
1. Conduct Customer Surveys
Since customer surveys provide immediate feedback about website performance, you can rely on them to boost your conversion rate. You can rely on the details provided by visitors to re-evaluate website design. This would ensure that you are able to get them to make a purchase from you.
Now, you need to place the survey at the right place if you are planning on evaluating the experience customers have while going through the sales process. You should be able to add a survey that appears after customers buy an item. Otherwise, the survey could pop up when customers leave your website. It would also enable you to find out why certain customers leave without purchasing anything. The information you obtain can be used for improving their online experience so that they are able to make a purchase. Keep the survey short and simple to encourage more people to participate.
2. Don't Assume - Use Data!
“Data doesn’t lie, People do…”
One of the biggest pitfalls most businesses fall into is making unfounded assumptions. Making an assumption about something with no data to back it up can lead to a lot of time and money wasted. There is a wealth of data tools available to you to help with making the correct decisions. Google Analytics alone is all any company needs to get started.
Let’s look at an example of an assumption. Let’s say you are an eCommerce business selling clothes. You assume that your target audience is women aged 18-24. You spend the majority of your marketing efforts and budget on this demographic. You don’t run monthly, or even quarterly reports to back this up. A year later, you do an audit and find out that Men aged 28-36 are spending more on average and have the highest conversion rate of any other demographic.
You have just spent a year targeting one demographic based on what you thought was best for your business. You neglected your biggest spenders and a competitor has come and stolen them.
Data is to Businesses, what petrol and diesel are to cars. Your business will break down without the correct use of data. Using data correctly can boost sales to your online store and help see your conversion rate optimisation increase significantly.
3. A/B Testing
Next, you can leverage A/B testing for testing just how effective the copywriting and website design elements are.
In order to put it into practice, you will have to create two versions of each piece of content. You will offer one version to half of your visitors, while the other version would be available to the other half. By the end of the period, you should be able to decide which version was more effective in helping you generate conversions. As there are various software tools for A/B testing, you should be able to take collect data for increasing conversions.
4. Analyse High-Performing Content
To find out what works, you need to analyse high-performing content. Some of the questions that you should consider are mentioned below.
- When do visitors leave your site?
- What are the demographics of visitors?
- Which parts of the site attract users the most?
- Which devices do visitors use for accessing your site?
- How do users get to your site? Do links or ads prove more effective?
When you determine which parts of the website move visitors through the sales and conversion funnel, you would be able to change your approach to increase your conversion rate.
5. Create Content for Every Part of the Customer Sales Journey
The main purpose of the sales funnel is to lead customers from learning to purchasing.
You have to make sure that you are able to lead your customers through the sales process. It all starts with making prospects aware of what you have to offer and generating high-authority backlinks.
Next, you have to capture the attention of customers so that they are able to decide whether to make a purchase or not. You will have to explain the features of your product or service so that you can convince customers to choose your business. You can also use social proof to convince potential customers to buy.
Review sites like Trustpilot are a great way of building trust around your brand!
Keep in mind that some customers require a nudge in the form of a product demo or free trial.
6. Craft an Effective CTA
To make sure that your content is able to deliver, you have to craft an effective CTA. It will take your business one step closers to converting prospects. Here are some things that you should consider when working on the CTA.
- The CTA should be actionable. You will need to use actionable words such as “Download now” or “Learn more” to get the results you desire.
- Make sure that readers are able to see the benefit clearly. It will help drive conversion. You can offer an e-book or a free trial to boost conversion.
- The CTA would also need to be easy to find. It should stand out so that readers are able to take the desired action.
Improve Your Conversion Rate Optimisation with Agile Digital Strategy
Start converting sales today with Agile Digital Strategy. Currently, we are helping clients in Ireland, the UK, and the USA with conversion rate optimisation. Check out our reviews on Google or Trustpilot to find out how we help clients boost sales. Also, we provide a number of different packages to maximise your results.
Therefore, we are the ultimate Digital Marketing Agency for optimizing your website’s conversion rate. We can develop an effective strategy for taking your business to new heights. As we have worked with all types of businesses, we are experts in conversion rate optimisation and know how to deliver the best results.
Get in touch with us to see if your website can benefit from conversion rate optimisation.
About Agile Digital Strategy
Agile Digital Strategy Ltd is a forward-thinking, fast-paced digital marketing and web design firm that can analyze and adjust aligned tactics to meet your company’s objectives. Our goal is to improve and expand your internet presence.
At Agile Digital Strategy Ltd, we create digital strategies that produce innovative outcomes to help your company’s online presence flourish. To make your business more visible, we use site design, content marketing, social media, and SEO.
Agile Digital Strategy Ltd has access to all of the tools necessary to help you get a competitive edge in your field. We take the time to learn about your company so that we can tailor our strategic, creative, and digital thinking to assist you in achieving your objectives.