NewsE-CommerceNovember 12, 2013

How Conversion Rate Optimization boosts Online Business

What is Conversion Rate Optimization? The word ‘conversion’ means transition. In terms of online marketing, Conversion Rate Optimization or CRO is the process of optimizing the number of visitors who perform a desired action on your business website. The desired action may include downloading a page, completing a form or a transaction, clicking an ad, or buying something from the website- These are some of the many predetermined pathways a company would want it’s potential customers to go through , in order to achieve the desired website results. However, the ‘desired action’ may vary from one business type to another, based on the specific goals and objectives of a company. Conversion Rate Optimization is a useful online marketing methodology based onoptimizing landing pages, sponsored search ads, the overall website design and other aspects of website conversion optimization. It works with the goal of increasing the chances that a potential customer who arrives at your site becomes a qualified lead or a paying customer. In other words, it is about maximizing the percentage of product leads and sales without increasing your advertising budget. Why do you need Conversion Rate Optimization? In the competitive world of online business and marketing, many companies hire Social media experts, SEO experts and other online marketers and professionals to incorporate basic conversion testing to their website services, so as to attain benefits over their competitors.According to a survey, 62% of the users who add to the online shopping cart leave without buying. Also, 36% of users exit a website before buying. You can increase your online business sales using the existing traffic to your website.Even the simplest of modifications to your website design and user experience can convert considerable percentage of site visitors to customers.You may need to invest little bit on enhancing user experience by using plugins and templates. Conversion Rate Optimization focuses on Key Performance Indicators that are essential to your business progress and works towards attaining those KPIs. The effectiveness of a strategic Conversion Rate Optimization lies in making micro changes to your online service and being able to persuade maximum percentage of users to perform desired action(s) through some predetermined step(s); all aimed to find out what it is actually that the customers are willing to see and which can trigger sales and increase returns on investment. The power of Conversion Rate Optimization An effective conversion strategy is made up of effective smaller conversions. It works through a carefully devised ‘Divide and conquer’ strategy. This means that you achieve the desired results by making consistentenhancements to the website design, in the light of statistical data, until more and more people perform the desired action. Using certain tests and modifications, the data such as user behavior can be analyzed and utilized to formulate additional tests, steps or an action plan which aims towards maximizing the conversion rate of your business website. However, many businesses fail to understand the real idea behind Conversion Rate Optimization. They strive to achieve optimal results in no real-time through changing forms, colors, buttons and other minor design elements of the website that might make or break the complete campaign. But,it is important to remember that an effective Conversion Rate Optimization requires time, resources and testing. Using proper test methods at each level of conversion can help to monitor which images, headings, content and titles can facilitate the conversion of website users into customers. Bringing quality traffic to your website is an integral part of increasing the conversions. Converting the existing visitors to repetitive customers is more advantageous than directing significant traffic to your website with very low or no conversions at all. There are a number of things that can maximize your conversion rate, if done rightly. It includes:
  • Analyzing user behavior:Use web analytic tools and other means to analyze the main actions performed frequently by majority of online visitors. This useful data can serve as KPIs to review and make modifications for improving the conversion rate.
  • Analyzing your competitors
  • Using the right keywords and keyword phrases:Using your business web analytics and log files, you can create keywords that are relevant to your business niche and target the right customers. Also, it helps you to understand which keywords can generate more quality traffic and increase conversions.
  • Organizing and grouping the keywords rightly:  Having the right knowledge of organizing and grouping the keywords can produce better search engine advertising results; be it Pay per click campaign (PPC), Search Engine Optimization (SEO), Social Media Optimization (SMO) or Conversion Rate Optimization (CRO). Right keyword grouping can help to rank and arrange content creation, develop specific, improved landing pages, write effective, targeted PPC ads and sustain a well-organized website.
  • Maintaining high level of relevance: Your advertisement should be a call for action for the website users. This can be done by ensuring that your ads are highly relevant to your landing pages (page a user visits after clicking on your ad). Your landing page should meet the expectations built in the minds of your potential customers through your ads. The relevancy of ads with the landing pages is directly proportional to convincing the users to perform the desired action on your website.
  • Writing attractive and convincing PPC ads:Write ads that are relevant to the keywords and your targeted audience.
  • Keep testing: Work out a strategic method of testing different areas of your business website that work in collaboration to produce the desired results. Statistically analyze the smaller conversions, improve if needed, and move to attain the bigger conversions.
Consistency is the key to successful Conversion Rate Optimization Consistent optimization of micro conversions can help to achieve maximum Conversion rate. One needs to have enough experience to determine patterns of user behavior and work out a strategic method of implementing the Conversion Rate campaign. The key to optimal conversion rate lies in knowing: Quality traffic leads to quality conversions and improved business.