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WHAT IS CONVERSION RATE OPTIMIZATION?

According to Wikipedia “in internet marketing, and web analytics; conversion optimization, or conversion rate optimization is a system for increasing the percentage of visitors to a website that convert into customers, or more generally, take any desired action on a webpage. It is generally referred to as CRO.”

CRO is a means of optimizing your ads, landing pages, sponsored search, and overall website design to raise the number of your site visitors that are converted into action takers (they complete your desired actions). CRO offers one of the most effective and fastest way of turning existing web traffics into paying customers.

Conversion rate optimization involves many processes that act for the common aim of turning visitors into leads and leads into customers.

CRO can be likened to a shopping mall, not every person who comes into the mall ends up buying something. Some of them might just be escorting the buyer, some are browsers who came to check out certain things. Those people are the site visitors while the buyers are obviously the customers. CRO are those methods employed in converting the visitors into customers, some of these methods includes free Wi-Fi in the mall, subsidizing the prices of products, handing out gifts to buyers popularly known as ‘buy one get two’ in Nigeria.

HOW TO CALCULATE CONVERSION RATE?

Conversion rate is a ratio; it tells the percentage of visitors that converts into a customer.

Conversion rate= no. of customers/ no. of site visitors * 100

According to crazy egg;

“CRO has a lot of moving parts. Here’s what they all mean:

  • Call to action: tell your visitors exactly what to do next.
  • Conversion funnel: this is the series of steps that someone has to take in your site in order to complete the primary goal in your site.
  • A/B testing: a common two (or more) versions of your site are shown to visitors. Conversion rates are measured on each version to see which one is most effective.
  • Multivariate testing(MVT): A version of A/B testing that tests multiple variables at a time.
  • Usability: a set of best practices and processes for making your site more-friendly.
  • Customer development: tools and processes for understanding your customers better. When you deeply understand your customers, it is a lot easier to design websites that convert a larger percentage of your visitors.
  • User recordings: a tool that records users as they move through your site.
  • Analytics: tools for measuring visitors and users.
  • Heat maps: a type of report that shows where people click on a page using ‘hot’ and ‘cold’ colours. It is a great tool for coming up with ideas to improve conversions.

CRO requires time and resources but it’s worth it to become familiar with basic principles of CRO so that you can maximize the chances of converting potential customers who visits your website to paying customers.

There are certain things you can do to increase your conversion rate:

  • Writing interesting and clickable PPC that will be useful to keyword/search query and your target audience.
  • Your landing page should deliver on the promise of your ad (the call to action) and make it easy for searchers/visitors to complete that action.
  • Conduct A/B testing to find out the right design for you landing page.

CRO is much easier when you choose the right keywords to generate traffics that influence your decisions about your website and ad copy and reach your target audience.

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