What is Conversion Rate Optimization?
Conversion Rate Optimization is a process which involves understanding of how users move throughout your site, what actions they take, and what’s stopping them from completing the goals defined.
Conversion rate optimization has become a very popular concept in the last years. Online stores have begun to realize how important it is to invest not only in attracting website traffic, but also in ensuring that the visitors of the website become customers.
What is a conversion?
A conversion is the general term for a visitor completing a site goal. If you use your website to sell products, the primary goal (known as the macro-conversion) would certainly be defined as the user making a purchase. There are also other conversions that can happen before a user completes a macro-conversion, such as signing up to receive emails. These are called micro-conversions.
Examples of conversions
• Purchasing a product from the site
• Requesting a quote
• Subscribing to a service
• Signing up for email lists
• Creating an account
• Adding a product to the cart
5 simple steps of the conversion rate optimization process
1. Research – Identification of areas to improve.
2. Hypothesis phase – Building a relevant hypothesis
3. Prioritization – Prioritizing the testing ideas
4. Testing phase – Choosing the test elements
5. Learning phase – Analyzing the results
How is the conversion rate calculated?
If in a particular month your site reaches a total of 100,000 sessions and registers 10,000 orders (God help!), the conversion rate is = 10,000 / 100,000 = 10%. “Unique visitors” is the value we use in calculating the conversion rate.
Exit rate is the rate of users leaving your site after viewing a page. It’s not the same as the bounce rate, because it also includes people who have come from one page to another of your site.
Abandonment rate: the rate of people leaving the page before completing the desired action. It is also called the abandonment rate of the shopping cart.
How to increase your conversion rate
• Write compelling, clickable PPC ads that are highly relevant to the keyword search of your intended audience.
• Maintain a high degree of relevance between your ads and corresponding landing pages. Your landing page should focus on the promise of your ad (the call to action) and make it easy for the searcher to complete that action, either by signing up for a newsletter, or by making a purchase.
• Test your landing page design. Conduct A/B testing to identify the right layout and colors that show the highest percentage of site visitors to fill out your form, call in, or otherwise convert to a valuable customer.