Conversion rate optimization is a tactic that not many marketing teams dedicate enough time to.
The digital marketing scenario today revolves around driving traffic to the website, which then converts into leads for the business or sales team to close.
Once this process starts delivering results, marketers get cracking to driving more traffic, leading to more success.
This is an oversimplification of the process but fundamentally, that’s standard marketing playbook.
However, few digital marketing teams narrow their focus to scoring more business from existing traffic.
This is where conversion rate optimization (CRO) comes to play.
This article explains what conversion rate optimization is, how it helps, why should you consider it, and how to execute it.
What Is Conversion Rate Optimization?
Conversion Rate Optimization is the process of enabling people to take action when they visit your website.
With slight modifications to certain elements of a webpage, a business can improve its chances of those site visitors converting into potential leads before they leave.
The process of CRO entails designing the pages of a website such as home page, blog, landing pages, product pages in a manner that allows maximum conversions of site visitors to customers.
Landing pages are designed with the goal to induce people to take action.
For instance, a landing page for a free resource can show a preview from that resource to encourage downloads.
Or an event landing page can be optimized with a video of past events to encourage users to register for this year’s event.
Blog pages are a fantastic conversion opportunity for any business website.
Besides sharing valuable content, a blog can use CRO to convert readers into leads.
The way to execute this is to add call-to-actions throughout the article, inviting users to gather more information about a subject by sharing their email addresses in exchange for a whitepaper or a case study.
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Homepages are the low-hanging fruit for CRO.
In addition to making a first impression on the visitors, your homepage can also retain those visitors and guide them further into your website.
You can optimize your website’s homepage by offering a free sign-up button, incorporating a chatbot to solicit questions from visitors during their browsing experience, or accentuating links to product information.
Conversion rate optimization is a massive, and often an untapped opportunity for marketing teams.
When executed efficiently, it can surprise you by the enormity of impact you could deliver by just fine-tuning your website pages to encourage conversions.
When Should You Start Thinking About Conversion Rate Optimization?
Once your sales and marketing engines start bringing in website visitors at progressively high amounts, that’s when you should start thinking about conversion rate optimization.
Tools such as Google’s Global Market Finder can present you with the online search volume to give you an idea of your potential customer demand.
You can calculate CRO by dividing the number of conversions a webpage gets by the number of people who visited that page.
Once you have this number, it’s time to nail down how to get more out of your existing traffic.
Your conversion rate is the percentage of visitors who convert on your site based on how many visitors have visited.
The three formulas below will help you understand what goals to set and how to tackles conversion rate optimization:
1. Leads generated ÷ website traffic x 100 = % conversion rate
2. New revenue goal ÷ average sales price = # of new customers
3. # of new customers ÷ lead-to-customer close rate % = lead goal
Conversion rate optimization is about scoring more from what you get and making it work better for you.
Marketing Strategies To Enhance Customer rate optimization
1. Include Text-Based Call-To-Action Buttons (CTA’s) In Your Blogs
While it is recommended to include a CTA in your blog post, they often go unnoticed by the readers.
This phenomenon is called banner blindness wherein users become accustomed to ignoring information displayed in the banners.
This coupled with the fact that readers don’t normally go till the end of the blog as they snack on content hints towards the need for a new approach.
It’s in this snacking where text-based CTA becomes eminent.
Pick the resources and landing pages that are relevant to the content of the blog post and place them contextually within the text.
2. Keep Testing Your Landing Pages
Landing pages are one of the most precious items of a modern marketer’s toolkit.
This is where a website visitor becomes a lead, or an existing lead further engages with your brand.
These pages serve the higher purpose of your website and must be A/B tested regularly to ensure maximum efficiency.
But what should you A/B test? This could be content, CTA buttons, the placement of elements.
Keep moving things around and test which performs better in fetching more leads.
3. Use Marketing Automation To Enable Your Sales Team
There are multiple automated workflows you can create for your sales team (and they’ll thank you for it).
For instance, sales reps can receive an email notification when a lead takes a high intent action such as viewing the pricing page of your product.
Or you could automate emails that go on behalf of sales reps allowing potential leads to book an appointment with them with one click.
eCommerce businesses can send an email to customers who abandon their shopping cart.
There are plenty of best practices on the Internet on how to ace at CRO.
However, before anything you need to first discover the factors that your customers/visitors respond to and what drives results for your business.