Another extremely useful tool for website optimisation is called conversion rate optimisation. Have you conducted a CRO test on your website design? If not, you could missing out on crucial information about how your site visitors interact the site, or even missing conversions and sales.
What is Conversion Rate Optimisation?
Conversion rate optimisation, also called CRO, is the process of increasing the percentage of website visitors who respond to the CTA. The action could include converting over to customers and making a sale, filling out a form, becoming email subscribers and more. CRO provides you with information on how visitors are moving through your site, what they do on the site, and what could be keeping them from following through with the CTA.
As an example, say you currently have only 10% conversion of visitors into customers. This means that only 10% of site visitors eventually become customers. That’s a very low rate of conversion. Without using CRO, you’d never have these details.
The goal of most sites is to convert visitors into leads, then customers. This is what makes CRO such a valuable tool. It shows where and how to reduce issues with the sales funnel, while increasing the value of what you offer.
How is CRO Calculated?
The CRO is a ratio, which gives you information on the percentage of visitors who convert on your site. It follows this equation:
Total transactions / Total Site Visits * 100
Let’s do a quick example. If a website had 200,000 people who visited the site last month, and 3,000 of these visitors made a purchase, then the conversion rate would be 1.5% (3,000/200,000*100).
If 10,000 people converted, then your CRO would be even higher at 5%. CRO can help you determine what needs to be changed in order for your conversion rate to increase.
Benefits of Conversion Rate Optimisation
The major benefit of CRO is to achieve an increased conversion rate, which means converting site visitors into paying customers. It’s that simple.
Improved CRO can also lead to:
- Improved customer insights: CRO helps you gain a better understanding of your site visitors and what they need. Plus it helps you focus on the right customers for your company.
- Increased profit per customer, without the added expense of brining in additional customers. This means saving money on your marketing budget.
- Acquisition cost per customers decreases, which means you get more conversions without having to increase your marketing budget.
- Increased user experience: users feel the site is professional and makes them feel more comfortable, even leading some to come back. CRO can help you improve user experience—when they can easily navigate and use the site, they feel more confident to accomplish the goals set in front of them (such as making a purchase).
- Users trust the site more: if the site looks professional and acts in the way they expect, then site users will feel more comfortable about handing out their credit card information when making a purchase.
- Increased profits mean you can invest in the company and scale it up much faster
Taking the time to conduct conversion rate optimisation can help drive the changes needed in your business.
Parts of Conversion Rate Optimisation
There are several parts to the CRO process. Let’s take a look:
CTA: provides site visitors on what to do next (make a sale, sign up for a newsletter, and more).
Conversion funnel: steps a customer needs to make while on your site to complete some goal, such as making a purchase.
A/B testing: split testing is a common process used by website owners and developers. It helps to track whether or not changes on the site have led to increased conversion rates. In this process, two (or more) versions of a website are used. Conversion rates are measured on each site, and then compared to see which site provided the highest rate of conversions.
Multivariate testing (MVT): this is another type of A/B testing, which tests multiple variables at a time on each site.
Usability: these are best practices and processes that make the site easier for site visitors to use. These can increase conversions by eliminating anything that makes it more difficult for site users to convert.
Customer development: these are tools that are used to gain a better understanding of customers. With better knowledge of customers, it’s much easier to create a website that results in higher conversion rates.
User recordings: these are a tool where users record their interactions with your site. They provide feedback on where they may find it hard to move forward or accomplish what they’re trying to do. This is also a great tool to gain insights on increasing conversions.
Analytics: these are tools used to measure the number of visitors and users to a site. This is information provides helpful data on how to improve conversion rates.
Heat maps: this is a type of tool that uses an overlay on a website or web page. It tracks where people click, read and more. The heat maps use a colour scheme that measures the intensity of users’ actions in specific areas of a website.
How to Double Your CRO
Conversion rate optimisation will help you create a site that makes it much easier to convert site users. Here are some quick ways you can double your CRO and increase conversions and sales:
Identify your target audience: knowing your target audience, and then creating your site for them will make your site visitors comfortable and willing to respond to the CTA and/or convert.
Conduct surveys: ask site users to participate in surveys or polls. It’s a good idea to keep questions short and to the point. Many people are short on time, so with a short poll or survey, they’ll be more willing to share their responses.
Review data: use heat mapping tools, analytics and other metrics to collect data to help you analyse how users are engaging with your site.
Run A/B tests: this is a great way to see which site has the highest conversion rates. The site with the highest conversion of users will be the one your business should choose to use.
Focus on meaningful content: make sure content on the site, including landing pages and product pages, contain content that helps users to convert.
Eliminate sources of “friction”: if you find areas where site visitors are becoming stuck, then remove these sources of friction, and you’ll see conversion rates increase, leading to increased ROI.
CRO can take a lot of work—we understand. However, the benefits of using conversion rate optimisation can lead to a dramatic increase in conversions and sales. CRO gives you the information to improve your site and cater to the needs and preferences of your target audience.
Liam is a website designer and digital marketer based in Leeds, West Yorkshire. He spent a decade working within the charity sector before moving into the marketing space a number of years ago. Liam always strives to do something slightly different with every project and always designs to deliver results, not just pretty websites.