What is Conversion Rate Optimization: Why It is important?
Driving traffic to your website is just part of the battle. Once visitors get to your site, you need to convert them to customers. So, convincing users to take a desired action is a crucial step. Conversion on any website actually happens when a visitor coming to your website converts and take an action that you want them to.
How do you define conversion? If your website has 1,000 visits a week and converts 3% of traffic that works out at 30 conversions a week. Conversion can be about signing up for an email newsletter, creating an account, completing the checkout, downloading any application or anything else that you want visitors to do. This is the only thing which you are going to evaluate and optimize as a part of Conversion Rate Optimization (CRO). Conversion on your website could be anything depending on your business- a purchase, a lead or any other clearly defined action.
How To Improve Conversion Rates-
A/B Testing - Conversion optimization is all about testing, testing and testing. Testing lets you evaluate user browsing activity and the total time they spend on your website.
The large number of conversion improvement comes from A/B or Split testing in which two designs of a website or landing page are tested against each other. The daily traffic coming to your website is splitted into two-
Version-A – 50% visitors with 23% conversion (Champion Page)
Version-B – 50% visitors with 16% conversion (Challenger Page)
In the above situation visitors are segregated equally into two- wherein the first version would see version A which has a different web layout, design and color in red with 23% conversion. Similarly version B which has a another style of layout in blue color with 16% conversion.
After comparing the two, you will get an overview that version “A” turns out to be a Champion page with maximum number of conversions.
With a powerful testing tool, Optimoid, you will be able to test various other elements of your web page like “headline”, “Call To Action”, “images”, “font” and see how each of them affects website conversion rate.
How To Test Sign Up For Headlines?
Version B with a headline text that says “Get Free Betting Tips” comes out to be a clear winner as it delivers the same kind of message that resonates with your audience. The conversion rate in this case is about 31.5% with increasing sign-ups.
So, finally you can see that a headline that focuses on a benefit performs best. It means visitors coming to your site are looking for a solution to a specific problem, therefore they look for answers. Version B in this case wins because it has a tendency to attract customers and convince them to sign-up.
How To Increase Conversions With Call-To-Action Buttons ( “Buy Now”, “Add To Cart”)
Two different alterations of this “Call To Action” were created to see which one works out to be the best for the checkout page on an eCommerce website.
Variant A- “Buy Now” (8% Conversion)
Variant B- “Add To Cart” (5% Conversion)
Results- Variant A showed 8% increase in conversion rate whereas variant B with 5 % conversion.
Conclusion- Variant A wins because it provides clear directions to the visitor by using word “buy”, which is a quick action and is understood to everyone.
Conversion Rate Optimization (CRO) is important as-
- Higher conversion rate would lead to an increased ROI for your business.
- Generates more sales for your website with the same amount of traffic you already have. No more worries to spend extra on traffic.
- Engages visitors and increases their chance of returning back.
- Cost-effective way to convert visitors
- Reduces Customer acquisition cost
Testing the above mentioned elements in your website often results in substantial improvements in website’s conversion rate. Keep on testing your website as soon as possible so that you can see which version is performing better.
If conversion rates are not where you want them, consider testing different elements of your webpage individually as well as in combination until you find one that produces better results.
Keep on reading for more information on CRO tips.