Best Conversion Rate Optimization Metrics in 2018

Best Conversion Rate Optimization Metrics in 2018

The success of any business is largely determined by conversions.

Conversion is a process initiated by driving relevant traffic towards websites – a small part of which then translates to useful leads that drive profits.
More traffic means more success, hopefully.

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There’s one thing you will want to know about the website traffic before relying on this strategy to improve conversions.

First of all, let’s understand CRO in real-life scenarios. If your website has, say, 5000 visitors in a month and 5 of them convert, your visitor to conversion rate would be 1%.

Now if you want to increase the rate from 1% to 2%, either you can increase the number of visitors to 10,000 or leverage existing 5000 visitors to increase the number of conversions from 5 to 10.

While you focus on increasing number of visitors, the quality of traffic tends to decrease,

which implies that doubling the traffic doesn’t guarantee a boost in conversion.

On the other hand, when you focus on the existing traffic, which is highly relevant, increasing conversion rate seems pretty much feasible.

This is where conversion rate optimization kicks in.

This blog is all about implementing Conversion Rate Optimization strategies to get more from your existing traffic.

We will also guide you through the process to make the most of your existing traffic to drive conversions.

What is CRO?

In today’s modern landscape, the majority of marketing strategy is digital.

More and more businesses are establishing their online presence to reach out to their prospects.

While showrooms are replaced by websites, the customer is still the same.

Back in days when customers would visit the physical store for their purchases, the appearance of the store and how they are being treated over there would matter.

In the same way, how your visitor feels being at your website is crucial to conversions.

Conversion Rate Optimization aims to optimize certain components of the website,

including blogs and all landing pages to convert your website traffic into strong leads for your sales team to close.

From adding catchy CTAs and lead flows to running tests on each of the landing pages,

there’s a lot that can be done to support your conversion rate optimization strategy.

Conversion Rate Optimization aims to optimize certain components of the website,

including blogs and all landing pages to convert your website traffic into strong leads for your sales team to close.

From adding catchy CTAs and lead flows to running tests on each of the landing pages,

there’s a lot that can be done to support your conversion rate optimization strategy.

Why is it important to track conversion rate?

Constantly checking on your conversion rate can reveal facts about your website that can help you improve your visitor’s experience.

The analysis will reveal the way they navigate your website and how you can encourage them to complete desired call to action.

Conversion rate optimization has become a vital part of today’s marketing world since knowing your numbers is more important than ever.

The competition is tough and there are high chances of falling behind if you don’t know how your website is performing and how it can perform better.

The right time to implement CRO for your business

The impact of a CRO strategy can be huge if implemented correctly and at the right time.

Before you set your CRO strategy in motion, it is important to make sure whether you website is ready for it or not.

If you are like most businesses, your products/services will have finite demand, which means your website traffic will be limited.

Therefore, to keep your business up and running, you will be required to make the most of that limited traffic.

For a CRO strategy to be fruitful, your website traffic should exceed a certain minimum threshold,

which is determined by your business goals and growth prospects.

This minimum threshold will be different for different businesses.

The easiest way to realize the minimum traffic for your business is to determine the number of conversions per 1000 impressions.

If you are getting desirable conversions per 1000 visitors, then 1000 visitors is the minimum threshold for your business.

Once your website traffic hits that minimum threshold, you should start thinking about Conversion Rate Optimization.

Getting started with CRO

Before getting started with CRO, you will want to define your goals and gather your ideas and necessary resources that should work towards achieving them.

There are different ways to get started with CRO, but you need to figure out what drives results to your business.

This means you will be required to test various strategies and run with the one that your audience responds to.

This process may sound a little lengthy and frustrating, but it’s the one-time run that will benefit your business for years to come.

Here are simple pointers to kickstart your CRO strategy today.

• Calculate the conversion rate you want to achieve using this formula: Conversion Rate = Number of Sales / Number of Visitors * 100. This should give you a target to achieve within the set deadline.
• Prioritize each strategy based on the parameters, such as potential, significance, ease, etc. or anything that you feel works best for your business.
• Appoint a team of experts to handle CRO responsibilities. Define responsibilities of each of the team members clearly to avoid confusion at any stage. Take follow-ups regularly and show your involvement wherever needed.

There are various conversion rate metrics tools available to eliminate the guesswork and fastrack your marketing goals.

But be careful which tool you choose. While the right ones can do wonders for you, the wrong ones can do just the opposite.

How to optimize your CRO strategy?

The success of a CRO strategy depends on your approach and resources at your disposal.

While having qualified resources on board is a plus point, getting them to work in the wrong direction won’t help.

Apart from that, you will want to know the possibilities that can be leveraged to meet your goals.

Here are a few things you can do to run a successful CRO strategy.

• Start with the right keywords:The process of conversion starts with getting relevant traffic to your website, and in order to do so, using the right keyword is important. You may use Keyword Planner to find relevant keywords with maximum search volumes and then use those keywords to your advantage.
• Include CTA’S (Call-to-action) in your blogs:When you write a blog to inform or educate your visitors, you must tell them what to do next. Incorporating CTA’s in the conclusion of your blogs should help your visitors get the service or solution they just read about.
• Attach lead flows on your blog:Attaching lead flows that kick in at the right time can do wonders about your conversion rate. It’s like giving your visitors the form to fill out after delivering the best sales pitch. Usually, lead flows work in the form of a pop-up to catch customers’ attention and encourage them to complete the desired call to action.
• Rigorously test your landing pages:Rigorous testing is the key to a highly converting website. You cannot rely on what others are doing. What works for them might not work for you. Therefore, it’s important to figure out what works best for your business.
• Link converting pages to your other high traffic pages:A website has various landing pages, but not all of them are created equal. While some are created to drive traffic, the remaining ones are conversion-oriented. However, combining these two aspects can be really helpful in driving conversions.
• Re-target your website visitors through other sources:Your website shouldn’t be the only tool to target your prospects. You can make use of other sources and channels to tap into the diverse audience that you might be missing out on otherwise.
• Optimize high performing pages:Using analytical tools, you can identify landing pages of your website that receive maximum traffic. Now as they say, ‘Fish where the fish are’. Focus your CRO strategy on those high-performing pages to increase the chances of success.

CRO trends to watch out for!!

Conversion rate optimization has become one of the most important aspects of online marketing,

especially when today’s audience has become more dynamic than ever.

According to a report, Conversion Rate Optimization has helped 95% of businesses in exceeding their previous year’s ROI.

You, too, can achieve such results for your business, provided that you follow the recent CRO trends of 2017.

Here are some of the most popular trends in 2017 that you can incorporate in your CRO strategies to get desired outcomes.

• Highlight your conversion elements:Now this one is related to the design aspect of your website. Your conversion elements should be clearly visible to the visitor, but they shouldn’t appear too obvious or desperate.
• Add dedicated pages for your pay-per-click ads:Majority of conversions takes place at product/service-specific pages. If you are running PPC or AdWords campaigns, try targeting conversion-oriented pages rather than home page or company’s profile.
• Test variations of your CTA buttons:For instance, if you are putting up a ‘Contact Us’ button on one of the landing pages, highlight it in a different colour and bigger fonts and don’t forget to make it look clickable. Avoid making it flashy, running or blinking though. You may test several variations while constantly analyzing their performance to figure out which ones work best.
• Include value proposition:There are going to be competitors vying for the same opportunity that you are after. Why should your visitors choose you over others when there are several alternatives to your offerings? So, tell them how your offerings are better than your competitor’s. Whatever you say should be convincing and backed by facts and not some shallow, tall claims.
• Use a chat tool:Your website has an ‘online form’ that allows your visitors to get a quote against their requirements – perfect. But what if they feel reluctant to fill out the form, without getting their questions answered? That’s where using a chat tool helps. For added convenience, chuck out the lengthy process of filling out the form and then waiting for the quote. Let your visitors talk to you directly to get their queries resolved in real-time.
• Test your headlines:Headlines are crucial to landing pages. According to a study, 9 out of 10 people would read the body content only if they found the headlines catchy. Therefore, spending at least 10 minutes to create a meaningful, strong headline is a no-brainer. If you are not able to come up a with a good headline, look into your business operations and research your niche or seek help from your partners. Also, you may choose a headline that contains facts and stats to win your readers over.

Conclusion

In a nutshell, CRO strategy mainly focuses on making a website easy to navigate and convincing enough to convert visitors into paying customers.

Here’s what you can do in this regard.

• At some level, we are fascinated by an attractive website design; therefore, it would be a great idea to work on your website’s design aesthetics.
• Further, your website content plays an important role in driving conversions. This implies that your landing pages must have a catchy headline, followed by an engaging, concise copy.
• Clickable CTAs and lead flows to encourage visitors to complete the desired action.
• Taking the above-mentioned practices in your stride will ensure relevance and quality in your landing pages, thus, boosting engagement and increasing your conversion score.
• Now that you have stocked up on necessary knowledge to boost conversion, you will want to read through Don’ts of conversion rate optimization.
• Do not start out with a CRO strategy unless you have enough traffic
• Do not rely on borrowed A/B test hypotheses. If it works for some other similar website, it will not necessarily work for you. Run a test on your website to identify low-performing landing pages and take users’ feedback to improve.
• Do not run A/B testing just for the sake of it. You need to be thorough and attentive with your approach, lest results will disappoint you.
• Do not give up. Conversion rate optimization can be frustrating at times, but you must hold up and keep trying. If you think your strategies are failing one after the other, come up with a different approach and keep doing that until you get results.