Conversion Rate Optimization (CRO)
The process of raising the proportion of users who do a desired action on a website is known as conversion rate optimization (CRO). A product purchase, selecting “add to basket,” signing up for a service, completing a form, or clicking a link are examples of desired activities.
The emphasis of typical definitions of CRO, like the one we just provided, is on conversion rates, averages, and benchmarks. The disadvantage of this concentration on numbers is that while you look at spreadsheets full of conversion data points and activities, you start to forget about the people who performed those conversions.
How to calculate the conversion rate?
The number of conversions (desired actions done) is divided by the total number of visits, and the resulting number is multiplied by 100 to produce the conversion rate as a percentage.
If, for instance, your website had 450 visitors and 18 transactions in the previous month, your conversion rate would be 18 divided by 450 (or 0.04), multiplied by 100, or 4%.
What is the average conversion rate?
Depending on what you read, the average conversion rate is anywhere between 1% and 4%.
But let us come out and say it: this figure is sort of meaningless, since:
- Conversion rates differ wildly depending on the conversion goal (ad clicks, checkout completions, newsletter signups, etc.)
- Every website, page, and audience is different
- Most people don’t share their conversion data publicly anyway
Conversion optimization best practices
In the world of digital marketing, a CRO best practice is a commonly-held belief that a particular optimization action will guarantee an increase in conversion rate, for example:
- Use a strong color for all CTA (call-to-action) buttons
- Place CTAs above the fold
- Use urgency (e.g., time-limited offers) to drive sales
- Always display testimonials
- Use fewer form fields on your forms
First off, best practice is by definition past practice because it was something that previously worked for another person. You can’t guarantee that it will function today.
Second, don’t assume something will work for you simply because it did for someone else.
Blindly implementing current best practices puts firms in a constant state of playing catch-up, while more innovative and progressive companies are hard at work developing improvements and adjustments that will be regarded as “best practices” in a few years.
The best conversion rate optimization tools
The idea that the greatest optimization tools are free may seem strange coming from a firm that offers a service that aids in website optimization.
The main tools you need to comprehend your clients, sympathize with their experience, draw inferences from the data, and finally make the modifications that increase your product conversion rates are your brain, ears, eyes, and mouth.
Quantitative tools to uncover what is happening
You may gather quantitative (numerical) data using quantitative techniques to monitor website activity. They consist of:
- Tools for general analytics that monitor website traffic (e.g., Google Analytics)
- Counting the number of clicks, scrolls, and movements on a page using website heat map tools
- Tools for measuring when customers leave a sales funnel
- Tools for tracking form submissions and analyzing forms
- CSAT instruments, which rate customer satisfaction on a scale of 1 to 10, are used to quantify it.
Qualitative tools to uncover why things happen
You may gather qualitative (non-numerical) data using qualitative methods to discover the reasons behind your website users’ actions. They consist of:
- Website feedback tools that ask users about their experience, such as on-page and external link surveys
- Tools for capturing and replaying online sessions that display how specific customers interact with your website
- Tools for usability testing that allow a panel of potential or existing consumers to provide feedback on your website
- Online reviews that provide more information about consumers’ perceptions of your company and products
Tools to test changes and measure improvements
Testing tools enable you to make adjustments and/or report on them to determine whether your conversion optimization efforts are successful once you have gathered quantitative and qualitative data and have a clear understanding of what is occurring on your website. They consist of:
- A/B testing tools that enable you to compare various iterations of a website to see which one performs the best (recommended for high-traffic sites, so you can be certain your results are statistically valid)
- Tools for website heat mapping and session recording that let you contrast many iterations of a page and user behavior on it
- Analytics software for tracking and observing conversions
- Website feedback tools allow you to get qualitative input and quantify it so you can compare the before-and-after reaction to any changes you made, such as visual feedback widgets or NPS dashboards.
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