Conversion Rate Optimization is the process of increasing the percentage of users who performs a desired action on a website. When a website is well designed, effectively, formatted and appealing to your audience, a high conversion rate is optimized. A good conversion rate depends on some of the following factors such as nich, traffic, audience demographics etc.
Conversion rate is gotten through content enhancement (good content creation) and workflow improvement which increases revenue and lower acquisition cost. There is always a room for improvement when it comes to increasing conversion, and the best company are always improving their site to create a better experience for their users and grow conversion.
COMMON CONVERSION GOAL ORGANIZE BY COMPANIES
- E-COMMERCE: product sales, add-to-carts, shopping cart completion rate, email newsletters sign ups.
- TRAVEL: booking conversion, social share, ancillary purchase .
- MEDIA: page views, ad views, newsletters subscription.
- B2B: leads generated, deals closed.
HOW TO CALCULATE CONVERSION RATE
Conversion rate is calculated by dividing the number of conversion by the number of visitors multiplying that number by 100 to get percentage.
For example, if a landing page has a conversion rate of 10%, it means that you receive like 200 visitors a month, then the page generates 20 conversion per month and in this case you will divide the total number of page generated by the total number of visitors and multiply it by 100, i.e 20÷200×100=10%.
WHERE TO IMPLEMENT CRO.
There are four major areas to implement CRO in your website.
1. Homepage: is a place to retain your website visitors and guide them further in your website. A prime factor for CRO. You can explore your homepage by placing links to products information, offering a free sign up button and instigate a chatbot that answers questions from visitors during their browsing experience.
2. Blog: is a great conversion page in a website where thoughtful and helpful content about your company is published. A blog uses CRO to convert readers to leads.
3. Pricing page: CRO can help a pricing page convert visitors into customers by modifying the price difference (eg per month price vs per year price) describing the product features associated with each price including a phone number for visitors to call for a price quote.
4. Landing page: is generally designed for people to take actions and have highest conversion rate of all sign up forms at 23%. A landing page that’s offering a free resource can be optimized with preview content from that resource to encourage visitors to download it.
For example, an event landing page can optimized with a video of last year’s event to encourage visitors to register this year.