Conversion Rate Optimizaton
Let’s imagine that we’re selling cosmetic goods online. We have an Instagram page and a few regular customers, but we want to expand our business. The beauty market is full of offers that create high competition. So what should we do to increase sales volumes and expand our customer base?
First of all, it’s crucial to offer your clients not just quality goods but also service. Secondly, the web page that provides goods or services should be convenient as possible, multifunctional, but at the same time easy to understand for the average user. Conversion Rate Optimization (CRO) is responsible for these factors.
In the article, we analyze the conversion rate, the most popular optimization methods, and how that kind of optimization can positively impact your e-commerce business.
What Is Conversion Rate Optimization (CRO)?
CRO – a system of activities aimed at increasing the number of those site visitors who eventually become customers or perform the desired action on a web page. What does that mean in practice?
Let’s go back to our beauty business. For example, we’ve created a website for our small shop. Every action of a customer before buying is a conversion. One hundred people entered a page but just 15 registered – conversion is 15 %. Out of that 15 registered customers, 3 liked something – conversion is 20 %. Performing such actions shows interest in the brand, brings a person a step closer to becoming a client and benefits the business.
- Landing page
- Call to Action (CTA)
- Forms on the website
- Site loading speed
Why CRO Is So Important, and How It Can Influence Your E-commerce Business?
To run a successful business, CRO calculation is considered a prerequisite. Without this department, it is simply impossible to analyze the work, draw conclusions and predict future plans. The conversion rate reflects the profitability of the site. Optimization will allow you to track user behavior, if any changes were made, to notice improvements or deterioration.
The benefits of working with CRO :
- CAC (Customer Acquisition Cost) optimized: Using CRO, you choose to work with quality leads that reduce the number of resources spent and increase productivity.
- The sky is the limit: The fast-growing e-commerce industry creates space for improvement and constant work.
- Spend less on ads: The higher conversion you have, the lower expenses for ads or traffic generation. Although, if you want to increase the number of clients, it will help you expand the audience.
Overall, it helps reduce costs and increase revenues by assisting with web page optimization.
6 Most Popular Website Optimization Ways for Conversion
We’ve provided you with six main tips that will help you optimize your website conversion rate. There is a more considerable amount of them, and each one applies individually to everyone.
Analyze and Research
First of all, analyze all the visitors’ data on your website. The most important is to work with real numbers and not your personal experience or estimations. Your vision of a customer can totally differ from the real one.
Secondly, the analysis should be constant. It would be best if you tracked the behaviors of clients regularly. Trends, fashion, industry, etc., are changing, and so do people.
Thirdly, conduct market research to see your ability to compete with other businesses.
Pay attention to the CTR (click-through rate) of advertisements, the number of visitors on the landing page and their actions, feedback and NPS, etc.
Constantly Work on CTAs
How to define a good CTA? There is no formula for that, although there are some criteria you should pay attention to:
- Location ( some people don’t read till the end, so you should think twice before putting CTA there )
- Form ( button/text/link/etc. )
- Format ( font/style/shape/etc.)
It would be best if you adapted your CTA from time to time to follow what works best for the website and what attracts customers more. It should be personalized.
Conduct A/B Testing
A/B testing is a system of testing for the landing pages to see which one works better. How does it work?
You create two landing pages and experiment with them, analyzing which buttons, CTAs, photos, texts, etc., are more attractive for the visitor after you choose to work with tools that optimize your work and are more efficient.
According to HubSpot, the performance is 10% higher if you use A/B testing.
Change The Strategy And Follow-up Customer
Using customers’ previous experience and data on all their behaviors at various stages, you can reach out to the people that saw your product and visited your landing page but didn’t want to move on with it.
It’s easier to work with people interested in the product or service but decided to resign for different reasons.
There are different ways to reach those people: email newsletters, change CTA, and others.
Automate Various Stages
To provide quality customer service, e-commerce developing companies implement Internet of Things (IoT) technology.
IoT services include:
- Devices themselves that have entered the network and interact with each other.
- Connection method – M2M – that is, machine-to-machine, without human intervention.
- The big data that devices are now generating. Data that can (and should) be collected, analyzed, and further used to improve comfort or make business decisions.
Retailers hire IoT developers to integrate with AI applications and offer a personalized experience, so the customer can feel comfortable using the platform.
Optimize Your Content
Your webpage is a sales resource that you should optimize to increase conversion rate. Check what post brings you more considerable traffic and which gives you better conversions. Combine them in the best way possible and define solutions that work better for the visitors and future leads (check SEO titles).
Constantly work on the copywriting for your blog. You could use different techniques in your text, such as principles of neuromarketing, psychology of persuasion, and others, to improve the user experience.
IT Specialists That Can Help You Optimize Your Website for Conversions
Depending on whether you contacted a marketing company, a usability studio, or a CRO agency, the range of CRO services may vary and include the following options:
- Price and competitor research
- Mystery shopper research
- Research of targeted traffic
- Call to action/offer testing
- A Complete Study of the Conversion Funnel
- Research using surveys
CRO specialist is one of the many specialists who help companies optimize their conversion rates. They help analyze all the information (website and social media analytics ) and convert them into an effective strategy.
They’re some of the other specialists that can increase conversion rate:
- Marketing specialist: is involved in creating a marketing plan to increase the company’s market share and profit; uses marketing tools for research and analysis; collects and analyzes data on competitors, partners, customers, and target markets; develops and makes proposals for expanding the company’s product matrix, draws up analytical reports.
- Brand manager: analyzes the situation in the market and conducts marketing activities. Based on the data, he decides what kind of trademark should be in the most significant demand among buyers.
In addition, the brand manager is directly involved in preparing the product for the market. He develops a pricing policy (decides when to give discounts to customers and when, on the contrary, to raise prices) and negotiates with advertising agencies.
- Content specialist: works with web and graphic designers, SMM, and SEO specialists, or if the company is small, they do it independently. They are responsible for site content.
- SEO specialist: promotes websites in search engines.
- UX/UI designer: improves user experience and helps clients feel more comfortable using your website, leading to higher brand trust and visibility. These are the main qualities that will help you to hire a developer.
- SMM specialist: promotes pages and communities on social networks.
Conversion rate optimization plays a vital role in business development. It is essential to pay attention to each stage/part of website optimization to increase conversion.
Specialists in the field of CRO are engaged in research of consumer and user experience, studying the reaction of potential customers to any changes. This is also the introduction of new chips, the study of customer reactions, and the adaptation of the site to requests.
The process includes several stages, including a full audit, testing, research, re-engagement, optimization, and automatization.