Every organization can benefit from an increase in lead generation. Marketing teams across the board are focused on driving visitors to a website in the hopes of converting that traffic into prospective leads for sales reps to close. This, however, is only half of the story.
That’s why firms like Adidas, Spotify, and Eurobank invest time and money into improving conversion rates through conversion rate optimization(CRO). As a result, they’ve had great results. Spotify, for example, increased memberships by 24% thanks to its conversion rate optimization strategy.
Getting more out of existing traffic and leads (rather than bringing in entirely new traffic) can help businesses achieve long-term, organic growth. This is where conversion rate optimization enters the equation.
This article will explain why conversion rate optimization (CRO) is so effective. It will also discuss why your business should consider conversion rate optimization and where you should start.
What is CRO?
The process of improving your website’s conversion rate to generate more leads is known as conversion rate optimization. Content improvements, A/B testing, and workflow improvements are some ways to improve CRO.
Improvements in conversion rates result in more high-quality traffic, more profit, and lower financing costs. A higher conversion rate shows that your website is well-designed, well-formatted, and appealing to your target market.
What makes a good conversion rate?
Factors such as your industry, specialty, aims, traffic channel, and viewer demographics, among others, all influence your conversion rate.
For example, in the third quarter of 2020, the average global conversion rate of e-commerce websites was 2.17 percent, down from 2.37 percent in 2019. However, America had a greater rate of e-commerce transformation, at 2.57 percent.
Not only do the estimates change year to year and region to region, but they also differ by niche.
For example, the average conversion rate of e-commerce websites is 5.5 percent in the food market. At the same time, it is 3.5 percent in the hair care and styling industry. It’s time to optimize if your conversion rate is:
- Lower than you’d want
- Lower than your best competitors’ or,
- Simply underachieving against your own goals.
Conversions can happen on any page of your site, including the homepage, pricing page, articles, and landing pages. You should optimize each page to improve your chances of converting website visitors into consumers.
What exactly is a CRO strategy?
A conversion rate optimization (CRO) strategy helps convert more website visitors into paying customers. While each CRO’s strategy may be unique, the core principles remain the same. You’ll need to figure out what aspects affect performance and who your target market is. Then you must collect consumer feedback and other data to determine what to test. Finally, you’ll run A/B testing on various pages and portions of your website to improve conversion rates for your leads database.
What exactly are CRO tools?
Conversion rate optimization (CRO) solutions are designed to make the process of increasing conversion rates easier through automation. The possibilities include lead creation, mouse tracking, data analysis, research, heat maps, reactions, and experimentation.
Where Should a CRO Strategy Be Implemented?
Here are four components of your website that could greatly benefit from conversion rate optimization.
Homepages are great CRO prospects. They present an opportunity to retain visitors to your website and guide them through the rest of it to make a solid first impression.
You can accomplish this by emphasizing links to product details. You can also include a free sign-up button or a chatbot that asks visitors questions at any time during their watching session.
For many web users, a website’s pricing page can be the make or break moment. The conversion rate optimization (CRO) of a pricing page can help convert website visitors into customers by:
- Adjusting the intervals of pricing (for example, cost-per-year vs. cost-per-month)
- Describing the item characteristics connected with each price
- Offering a phone number for guests to contact for a pricing estimate.
- Adding a simple pop-up type
A blog can help a website convert visitors into customers. In addition to producing smart and interesting information about your industry, a blog can leverage CRO to convert readers into leads. One option could be to include calls-to-action (CTA) within the article. You can also invite users to learn more about a topic by filling out an email form in exchange for an ebook or industry report.
Landing pages are designed to persuade users to participate. It all boils down to the fact that they have the highest median conversion rate of any signup form. An event home page, for example, can be enhanced with a clip from the previous year’s event to encourage visitors to sign up for this year’s event.
How to implement conversion optimization strategy?
Let’s talk about how you can put your CRO strategy into action now that we’ve discussed where you can implement it. Here are some conversion rate optimization techniques you can consider and implement in your business.
Create word-based call-to-actions within blog articles.
Incorporating CTAs into a blog post is considered an effective method. However, they don’t always compel visitors to act in the way that you want them to. Why? Banner blindness is a relatively new condition that develops when people develop a habit of ignoring online banner-like material.
This lack of concentration, combined with the fact that some website visitors do not read through a blog item (instead, they ‘snack’ on the subject matter), needs a different approach. This is why you should try to keep your CTAs word-based instead of being banner-like.
Run experiments on your landing pages.
Landing pages are a vital element of a marketer’s toolkit. It’s crucial for conversion rate optimization, as suggested previously. This is because a landing page is where a website visitor converts to a lead, or an existing lead engages with your business more deeply.
When optimizing a landing page, conduct A/B testing to discover the ideal layout and content highlights for audience members. A/B testing, for example, allows users to quickly and easily compare several versions of online copies, images, form queries, and content offers to observe how your target audience and leads react to the best variant.
Create lead flows for your blog.
A lead flow is another conversion rate optimization component you might use on your site. Lead flows are pop-ups that are designed to draw attention while simultaneously offering value. You can use a drop-down banner, a slide-in box, or a pop-up box, depending on your offer.
Assist leads in becoming marketing-qualified leads right away.
Sometimes visitors would like to get right to business, skipping parts of the classic buyer’s journey and speaking with a sales agent right away (rather than being nurtured). You should inspire these high-intent viewers to take specific actions so they can conveniently become marketing qualified leads (MQLs).
Then they can take action through a mixture of persuasive and clear copy, SEO friendly website design guidelines, and smart CTAs. This, of course, varies based on your product and marketing process. But our best suggestion is to run several tests to determine what creates the most clients. Then, maximize the process.The key point to remember here is to find ways to reduce friction in your sales process.
Create workflows to help your team.
You may create a range of automated workflows for your team with the help of advertising automation software. For example, marketing automation lets you send automatic emails based on workflows. Leads can then book meetings with salespeople with a single click. Meanwhile, reps are alerted when links perform high-intent actions, such as visiting your website’s pricing page.
Add messages to web pages with high-conversion
Interact with site visitors in real-time with live chat software. They offer assistance and direction as needed. Therefore, you should add this messaging feature to your high-performing(or low) website’s product and price pages.
This ensures that leads receive the information they require in real-time. You can also start automating your chatting and chatbots. For example, if someone has been on the website for more than one minute, you would want to offer to help and answer any queries they may have right away.
Play around with non-button CTAs.
When it comes to CTAs, they’re often present on buttons.
This is because buttons on a webpage stand out and attract immediate attention. When they want to add something to their shopping basket, they search for buttons. Many CRO strategies revolve around changing the appearance of buttons, such as:
What if, on the other hand, you could use text-based CTAs to increase sales? If you don’t try, you’ll never know. This conversion improvement strategy offers promise for top-of-the-sales-funnel and middle-of-the-sales-funnel items. For example, you could put relevant CTAs in a connected blog post to persuade people to download a related ebook.
Optimize your best-performing blog posts.
Posting blog entries, once again, opens up a lot of conversion possibilities. This is particularly true if your website currently includes blog posts. Recognize the posts that attract the most traffic but have the lowest conversions to start enhancing your blog content. Potential causes of this problem include poor SEO, the material offers you’re endorsing, or your CTA.
Examine your blog’s content for higher conversion rates. Assume you want to boost the number of qualified website visitors to all of those articles. This can be accomplished by optimizing the content for search engine results pages (SERPs) or making necessary changes to keep it relevant and interesting.
CRO checks should be performed on high-traffic web pages.
CRO testing is fueled by traffic because there is no information without visitors.
Having traffic isn’t enough, though. If you want to execute CRO tests consistently and precisely, you’ll need a lot of traffic. For example, due to seasonal variations in user intent, a pool company that does a CRO check from late spring to early summer will almost certainly produce misleading results.
As a result, companies should focus their lead-generating efforts on high-traffic web pages. Using software such as Google Analytics, you can discover your traffic by following these steps:
- Go to your Google Analytics account and log in.
- Choose “Behavior.”
- Click on “Site Content”.
- Select “Landing Pages” from the drop-down menu.
Set a three-month timeframe for optimum results. This viewpoint will provide you with a more complete picture of the effectiveness of a page. It can assist you in choosing pages to test that consistently bring in visitors. If your business is seasonal, you may wish to compare traffic data from peak to off-season months.
PIE can be used to prioritize CRO tests.
Depending on your organization and website performance, you may have a variety of web pages to test. Even if you only have a few high-traffic websites to test, you’ve probably got a lot of ideas. So, how do you decide where your efforts should be focused? By using PIE:
- Potential: How much opportunity is there for improvement on a web page?
- Importance: What is the value of this web page and the leads it generates?
- Ease: How easy is it to create and run this test?
Using the PIE framework, you can prioritize your assessments. PIE will, in general, lead you to high-value web pages such as:
- Pages dedicated to service
- Product-specific webpages
- Check-out pages
- Contact Information Page
In most cases, it’s best to focus your efforts on bottom-of-the-funnel web pages, such as the ones listed above. This is because they have the biggest impact on your company’s bottom line. However, you should consider traffic volume to create an appropriate lead generation strategy while choosing your test sites.
Retargeting can be used to re-engage website visitors.
Whatever your primary conversion metric is, it makes no difference. The sad reality is that the vast majority of people who visit your website do not take any action. Retargeting functions by tracking website visitors and giving them internet ads when they explore other websites.
This is especially useful for retargeting visitors to your most profitable website pages. The regular inbound rules apply here as well. You’ll need well-written material, appealing imagery, and a compelling offer to make retargeting work.
Implement CRO methods above the fold.
Almost every lead generating approach considers the above-the-fold region. This is the first thing a user sees when they come to your website.
It’s the content that shows up before viewers have to scroll down to see more. If you don’t deliver compelling design, content, and layout above the fold, you’ll lose a lot of traffic and revenue.
You can try out several different elements, such as:
While conducting a website check, keep in mind your target audience and what they desire. Most of the time, the region above the fold will not persuade users to buy your products or install your instructions.
That above-the-fold section, on the other hand, may persuade visitors to learn more about your product’s applications or to read more of your guide’s material. Simply put, you want to maximize your above-the-fold content to lure visitors and keep them on your site.
Instead, the CTA above the fold asks for a far smaller commitment. You can take a quiz to get recommendations. Those CTAs can attract users to stay on the site longer and take them closer to becoming viewers. Your organization can attract customers whether it sells to customers or corporate buyers.
Simply consider how your conversion optimization plan can interest your target audience. It could be by a quiz, tool, survey, or another method.
To increase conversions, a CRO test involves adding, rearranging, and redesigning items on your website. CRO tests may include, among other things, optimizing the language, design, or location of your CTAs, as well as the length of your headlines.
There are several CRO best practices accessible, but in the end, you must determine how your customers react and how your company’s outcomes are determined.
When starting up with CRO today, keep the following three follow-up acts in mind:
- To begin the CRO conversation, use one of the three methods.
- Experiment with CRO methods to see what works best for your company.
- Make use of the PIE framework to assist you in prioritizing your approach.
CRO and CRO strategies FAQs
- What is CRO ?
Conversion rate optimization, or CRO, is the process of experimenting with alternative versions of a page to increase conversions. Businesses generally use CRO tools like Google Optimize to execute conversion optimization studies.
- So why should I invest in a CRO tactic?
Conversion rate optimization is beneficial to your firm in the following ways:
- Make decisions based on data about the company’s website and the information it provides.
- Learn as much as you can about your target market, such as what interests and motivates them.
- Improve your top- and bottom-of-the-marketing-funnel conversion rates.
- Optimize your landing pages for lead conversion to increase the effectiveness of your campaign.
- Investing in CRO gives businesses a competitive advantage.
Whether a test succeeds or fails, you’ll learn something that you can use for your website or your next test.
- What can I do if I am unable to devote time to CRO?
CRO is an important enabling strategy in online marketing. As your company’s traffic increases due to SEO efforts, for example, it becomes more necessary to begin investing time in CRO.
This is because an effective CRO strategy allows you to maximize the value of your regular traffic. If you don’t have time for CRO, you should consider hiring a conversion optimization agency.
A PPC management agency can handle the management, implementation, and expansion of your CRO tactic. As a result, you can reap all of the advantages of CRO (as well as the glory) without trying to find the time to do it.
- What metrics must my CRO approach track?
While most CRO techniques quantify conversion rate, your strategy can also quantify other metrics such as:
- Bounce Rates
- Pageviews Session length
- Events in Google Analytics
For the best outcomes, you should focus on the performance indicators that are crucial for a company. Go for it if you want to boost pageviews from specific landing page traffic in ways that foster more top-of-the-funnel traffic. However, with the PIE structure, you’ll more or less certainly spend more on your CRO strategy on bottom-of-the-sales-funnel web pages at first.
About the Author:
Vaibhav Kakkar is the Founder and CEO of Digital Web Solutions, a globally trusted agency with a full suite of digital marketing services and development solutions. Vaibhav believes in building systems over services, and has helped scale up agencies from scratch to niche-leaders with million dollar turnovers.
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