Rev up your website's conversions with Conversion Rate Optimization (CRO)! 🚀
Picture this: As a Marketing Director, you know how challenging it can be to drive traffic to your website on search engines, but getting those visitors to convert via right conversion rate optimization tools can be even harder. It's like trying to sell ice cream to a penguin - they're just not interested. 🐧
But fear not!
Conversion Rate Optimization (CRO) is the solution that turns disinterested visitors into loyal customers and increases your percentage of visitors.
By implementing 9 proven CRO strategies, including split testing and multivariate testing, you'll skyrocket your conversion goals in no time.
Pssst… Keep your eyes on Google Analytics!!
With clear conversion optimization goals and a solid understanding of your conversion funnel, your efforts will be aligned with your objectives, discarding all the common mistakes to improve your average conversion rate.
So let's get cracking and turn those penguins (visitors) into paying and engaged customers with the power of CRO! 💰🐧
What is Conversion Rate Optimization?
What is Conversion Rate Optimization, you ask?
It's the art and science of turning website visitors into raving engaged prospective customers.
Companies that invest in CRO with the right digital marketing strategies and funnels are more likely to see a better marketing campaign improving ROI within 3 months compared to those that don't, as per Econsultancy.
Optimizing your website's design, copy, and customer experience makes it easier for visitors to take action, whether filling out a user feedback form, making a purchase, or signing up for a newsletter. It's like giving your website a superhero cape to save the day!
Think of CRO as a way to supercharge your website on search engines, i.e., increasing your conversion rate and making it work harder for you. It's not just about increasing your conversion rate; it's about creating a seamless and delightful digital experience for your prospective clients that leaves them wanting more.
Making the Most of Your Traffic: Understanding the Importance of CRO
Are you tired of hearing crickets whenever you check your website's conversion rate? Well, you're not alone.
A study showed that the average website conversion rate is only 2.35%.
That's like trying to win a staring contest with a statue.
But fear not, because Conversion Rate Optimization (CRO) can be your secret weapon to turn those silent visitors into loud and proud prospective clients.
Here are some specific reasons why CRO is so important:
- CRO can help you identify which parts of your website are working and which ones are not. This can save you time and money by allowing you to focus on the key features and areas that need improvement.
- Optimizing your landing pages and forms can help you increase the number of leads generated from your website.
- Improving the customer experience, especially mobile user experience, makes it easy to build credibility and trust with potential prospects, leading to more sales and referrals.
- CRO can help you stay ahead of the competition by continuously testing and improving your website's performance on search engines.
- It allows you to track and measure the success of your digital marketing assets and campaigns on Google Analytics so that you can make data-driven decisions for future strategies.
What is an Average Conversion Rate?
So you've got a website, you're driving traffic to it, and you're ready to convert those visitors into paying ideal customers and boost conversions and marketing operations.
But what's a good conversion rate to aim for?
Enter the Average Conversion Rate, abbreviated as ACR. The percentage of website visitors who complete the desired action, for instance, making a purchase, filling out a form, or signing up for a newsletter, is called ACR.
Here are some key points to keep in mind when it comes to ACR:
- The average ACR varies widely across industries, with some as low as 1% and others as high as 20%.
- In B2B industries, the average ACR tends to be lower than in B2C industries, but that doesn't mean it can't be improved.
- ACR can be affected by several factors, including website design, user experience, copywriting, and even the time of day.
So what's a good average conversion rate optimization result to aim for?
Well, that depends on your industry, your goals, element of conversion, and a variety of other factors.
Studies have shown that a mere one-second delay in website load time can result in a significant 4.42% decrease in conversions.
On the other hand, a website that loads within one second has a remarkably 300% higher conversion rate than one that takes around five seconds to load.
From Visitors to Sales: Understanding How to Calculate Conversion Rate
Calculating the conversion rate can be a bit like solving a Rubik's cube – confusing and frustrating. Keep reading as we show you how to calculate it like a pro.
Here are the steps to calculate your conversion rate on digital platform:
1. Determine Your Goal
What action do you want visitors to take on your website? Is it filling out a form, making a purchase, or downloading a resource?
2. Define Your Time Period
Choose a specific timeframe, such as a week or a month.
Once determined, track your conversions: Use analytics tools to track the number of conversions during that time period.
3. Calculate Your Conversion Rate
Divide the number of conversions by the number of visitors to your website and multiply by 100 to get a percentage.
And just like that, you'll have the key to unlock the conversion rate puzzle.
9 Best CRO Strategies for Marketers in 2023
From interactive demos to the power of storytelling, we've rounded up 9 of the best Conversion Rate Optimization (CRO) strategies to help you delight customers and skyrocket your conversion rate optimization results.
1. Conduct User Research
Want to create a website that really resonates with your customer persona insights?
Start by conducting user research to understand their needs and preferences. By gathering insights into their behaviors, you can tailor your website with the right conversion tactics to meet their specific needs.
For example, let's say you're a software company trying to sell to other businesses. By using tools like surveys, heat maps, and analytics, you can discover that your ideal customers struggle with understanding the technical product descriptions and details.
Use those insights to create a website that simplifies your product's technical information and drives product-led growth.
2. Optimize Your Landing Pages
Do you want to improve your landing page's performance?
Then, A/B testing, personalization, and simplification can be the game-changers!
Start by ensuring that your landing pages have a solid foundation: they should be visually appealing, easy to navigate, and have an action button, i.e., clear call-to-action (CTA) button.
Once you have this foundation in place, experiment with different action buttons like CTAs using A/B testing to find the one that resonates the most with your target audience.
Take personalization to the next level by tailoring your website's content and messaging to each visitor's unique interests and preferences. This will increase the likelihood that they'll take the desired action.
Finally, simplify your website's design and user experience to make navigating easier for visitors. With a streamlined website, visitors can easily find what they're looking for and are more likely to convert into loyal customers.
3. Create Irresistible Offers
Create irresistible offers that encourage visitors to take action. Offer free trials, limited-time discounts, or other incentives that make it hard for them to say no.
For example, let's say you're a software company trying to generate leads. By offering a free trial that includes personalized onboarding and training, you can show your potential customers the true value of your product positioning and convert more of them into potential buyers.
Use those irresistible offers to drive product-led growth and boost your bottom line.
4. Use Social Proof
Want to build trust and credibility with your website visitors? Use social channels to showcase testimonials, ratings, and reviews from satisfied customers.
By highlighting the positive experiences of others, you can demonstrate that your product positioning is trusted and effective.
For example, let's say you're a consulting firm trying to win new clients. By featuring testimonials from happy clients who have seen measurable results from your customer services, you can show potential clients that you have a proven track record of success.
Use social posts and social presence to build trust, and visibility.
5. Improve Site Speed
Site speed can make or break your website's success! Slow loading times are like quicksand for visitors, making them sink in frustration and disinterest. But optimizing site speed is a piece of cake - reduce image size, use a content delivery network, and minimize HTTP requests!
Once you make changes, track the metrics to see the impact, KPIs are like your conversion goal compass - they tell you if you're on the right track.
Some examples of KPIs for CRO include -
- Conversion rate (the % of visitors who take action on your site)
- Bounce rate (the % of visitors who leave after viewing only one page)
- Time on site (how long visitors stay on your site)
Remember, the KPIs you track should align with your business goals and website's unique needs. So, keep tracking and keep optimizing!
6. Optimize Your Forms
Struggling with low conversion rates on your website's lead generation forms?
Ensure your forms are easy to complete, visually appealing, and have clear instructions to increase conversion rates.
For example, let's say you're a software company with a lead generation form on your website. By simplifying the form fields to only ask for necessary information, using clear and concise labels, and adding visual elements such as check marks to indicate completed fields, you can make it easy for potential buyers to complete the form and provide their information.
7. Use Retargeting Ads
Use retargeting ads to stay on top of the mind of your prospects. By targeting visitors who have previously shown interest in your product, you can stay in front of them as they continue their research and decision-making process.
For example, let's say you're a marketing agency with effective marketing strategies. By retargeting visitors who viewed your customer services page with ads highlighting your expertise and past successes, you can position your agency as the right choice for their needs.
Use retargeting ads to build brand awareness, and increase current conversion rates.
8. Personalize Your Website
Creating a personalized user experience is a powerful tool for boosting conversions. By leveraging data and insights, you can tailor your website's visual content and messaging to each visitor's unique interests and preferences.
This not only enhances their overall experience but also increases the likelihood that they'll take the desired action.
So, start by analyzing visitors' demographics, behaviors, and preferences, and use this information to personalize your website accordingly.
9. Add Interactive Demos
Ready to showcase the true value of your product and drive product-led growth?
With Storylane, you can create engaging stories that build a strong connection with your visitors.
Our interactive demos give them a firsthand digital experience of your product, making them more invested in your brand.
Try Storylane and take your product to the next level!
3 Best CRO Examples
For businesses, optimizing conversion rates can lead to increased revenue, reduced acquisition costs, and target audience delight.
But enough chit-chat, let's get to the good stuff - the 3 Best CRO Examples!
These real-life examples show how some savvy businesses have implemented CRO strategies to take their revenue to the next level. And don't worry; there are no shady tactics or unethical practices here. We're all about keeping things above board.
1. HubSpot: Turning Free Users into Paying Customers
HubSpot is a leading provider of inbound marketing assets and sales software, but what's impressive is its CRO strategy.
They offer a free CRM tool that users can sign up for with just a few clicks, and once they're hooked, they use targeted messaging and personalized email campaigns to upsell those users to their paid plans.
HubSpot saw a 165% increase in paid users in just 12 months.
2. Salesforce: Streamlining the Signup Process
Salesforce is known for its customer relationship management software, and target audience loyalty but they also excel in CRO. One of their best digital strategies was simplifying their signup process.
By reducing the number of fields on their registration form from 17 to just 4, they saw a 50% increase in signups.
Plus, they added a progress bar to show users how far along they were in the process, which boosted completion rates even further.
3. Crazy Egg: Improving the User Experience
Crazy Egg is a heatmap and A/B testing tool that helps companies improve their website's user experience, so it's no surprise that they're CRO wizards. One of their best examples is the redesign of their pricing page.
They used A/B testing to experiment with different layouts, headlines, and colors and ultimately settled on a design that increased conversions by 64%.
So there you have it, folks! Three examples of companies that have taken their CRO game to the next level. Now go forth and conquer those conversion optimization rates!