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Conversion Rate Optimization (CRO)
A visitor of your website becomes a customer and if this target is achieved then she is converted. Conversion ratio can be calculated with the following equation.
[Number of customer achievement/number of website visitors]*100.
Let's assume, a company gets 1000 visitors and among those 10 of them buy the product. So, the conversion rate is as follows:
[10/1000]*100 = 1 ％.
As a company owner to increase your sales which actually increases your profit you would like to increase this conversion rate and this procedure is called optimization. If the rate is higher that means
customers using your service through your website. To achieve that target, you need to influence your website visitors so that they take actions that can be buying your product, asking for a demo, free account signup, trial period signup, asking for a quotation.
The best part of this optimization is that you will get more customers with the same amount of visitors. If you get more customers from your visitors that is a game changer.
CRO Techniques
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You can develop a well structured strategy and follow the techniques to increase your conversion rate. Remember conversion is not only a purchase by your customer. If they take an action you want them to take, for example signing up for an email newsletter, that is also a conversion. For a restaurant owner a dinner reservation through its website is a conversion. The main techniques have been described below.
User experience
Websites must be optimized for all kinds of devices and the loading time must be instant or less than three seconds. It is crucial to hold a customer's attention. Another aspect to be considered is the website design. It should be user friendly and catchy. The main page must have some words or sentences that deliver a message instantly to the visitor what she will get from this site. To clarify one example is provided below.
This one is taken from the Uber website. Here a person can easily see that she can earn while she drives. The message is too easy to catch and those who have a car can immediately take action and register themselves as a driver. One thing to notice is that the website is easy to navigate at the same time because of its design.
Run ab test
This is by far one of the powerful tools to increase conversion rate. You
can develop two nearly identical websites and run them at the same time. Fifty percent of the visitors will browse one and the rest of the visitors will browse the other one. Then you look at the conversion rate and find the elements that contributed to higher conversion. It could be the changing of color of a button. Maybe a navigation bar taken from left to right. Run this repeatedly for a certain period of time to find the right website that produces more conversion.
Send an urgency message
Let your customer know that a specific offer is ending very soon. People
usually make decisions faster when the offer is near to finish. If you are selling a product also provide the information that something is sold out. This information has an influencing factor. It can work as a push to create an urgency ring bell and a person will take action immediately. It is also important to be genuine. Let's say you wrote on your website that an offer is going to be finished by 48 hours but that advertisement still exists on your website for 7 days. You are surely going to lose reputation and trustworthiness because somebody will find it out that you are lying.
Use data to decide
Do not guess in the CRO process. Apply as many strategies as possible and then collect the data. Find out what works and what not. Let your data be the decider to adjust the next level.
Site speed
Your site loading speed cannot exceed more than two seconds. Ensure this before even applying any other strategy.
Heat map and scroll map
Find out the heat map and scroll map of your website. You can identify the hotspots in your site and then allocate those places with your offers and thus increasing the chances of conversion.
Small signup forms
You must incorporate an easy to fill signup form. Try to find out the most important information you want from your customer. Create fields for those only. No one wants to spend 10 minutes subscribing to a website.
