Let the confusion begin. This may seem like a complicated endeavor explaining this alien term of Conversion Rate Optimization. Seems like you may need years of training to decipher this code.
Then what is it. It is simply when a visitor to your website takes an action that you want them to take.
Let’s look at some of the concepts concerning CRO and it may first seem like we have uncovered a different species but will make sense the more we discuss it.
Some key terminology are as follows:
Key Terms of Complexity To Cast Aside Confusion, Hopefully
These terms are in relation to testing and implementing effective strategies.
Start with a Call to Action: (CTA) “is important it can be the literal button that gets the customer to take action.” They have to actually press and or do something like your page or retweet your tweet or share your post.
An example would be a Buy Now button on Amazon or a Signup button these would be the ultimate indicators of how well your service is doing.
In order to understand further, the CRO uses a measuring strategy that understands metrics and it is called A/B or Split Testing. This means a form of “ testing of one version of a page or interface element against another version of the same thing.” To put it in the simplest of terms, an example would be testing out different color buttons to see which is more effective.
Another kind of testing, Multivariate Testing (MVT) consists of multiple variations which goal is to decipher the most important combinations.
According to the article, it consists of testing “of many variations of the pictures, copy, and calls to action used on the page in many combinations to find the best performer. For example, if you had 2 versions of a headline, 2 versions of an image and 2 versions of a block of text you would spend time trying out every possible combination.
Don’t Get Me Started on Conversion Funnels And Differing Rates
Conversion funnel pathway is important to think about when you see a Product page and then a Checkout portion towards the end. This is broken down into areas such as awareness, opinion, consideration, preference and then finally purchase.
Other terms you should explore: Spend time going over concepts such as Bounce and Exit Rates, as well as your Engagement Metrics. You can look through such things as average page views and average time on site.
Use whatever tools you can to Convert casual ‘internet shoppers’ into regular customers.
Measure your total conversions and then figure out your conversion rate. If you divide this number by a number of visitors you will get the conversion rate.
This site Qualaroo starts you off with the beginning concepts but it is still a helpful tool. So keep exploring the site as it goes further for a more comprehensive detailed explanation.
This website explores why CRO is so crucial and important in the modern digital age and all of the misconstrued myths attributed to it.
Remember measuring conversion rates is also beneficial for long-term growth of an idea, product or company.
Tools To Test That Awesome CRO Strategy
How to avoid conversion rate mistakes. Quicksprout founder Neil Patel explores this phenomenon and gives some comprehensive advice. There are several key takeaways such as failure to adopt the mobile strategy, lack of singular purpose and not applying basic principles of marketing to your CRO. These can all lead you to disastrous consequences or at least troubling first impressions.
He explains further the acronym KISS which stands for ‘keep it short and simple’
Converting explorers into customers seems like a no brainer. Not only are they engaged to your content they are now hopefully hooked. At least they are taking an active part in becoming a loyal customer. Measuring the conversion rate will help companies understand how to serve their customers more efficiently. It will also help the company devote more time to a comprehensive strategy for further impactful transactions.