What is Conversion Rate Optimization (CRO) and how do you increase conversion rates?

Conversion rate is one of the basic marketing terms that everyone who owns a business needs to understand. Moreover, improving it is the most important thing.

Statistics show that billions of dollars are spent on online marketing. However, all the success of a marketing campaign is not only related to the amount of money spent.

We will talk to you fully about the mechanisms of conversion rate optimization, even though it is a small term and may not appear to you to be of great importance in expanding your business. However, when you master it, you will not have to pay a lot of money to advertise your brand or business.

What is Conversion Rate Optimization (CRO)?

Conversion rate optimization is a way to increase your conversion rate by allowing users to perform a desired action. These required actions could include purchasing a product, subscribing to a service, or adding something, for example: “Add to shopping cart.” It is a practice where experts increase the conversion rate without increasing resources or expenses to generate more conversion rates.

Conversion rate is the main focus here, averages and benchmarks also play an important role in Conversion Rate Optimization. However, looking at all the Excel sheets of user data and conversions it is difficult to think about each individual and what they were thinking when they performed the desired action.

Here's another way to think about user-centricity and conversion rate optimization. CRO is a practice in which we focus on what drives, convinces and prevents users from taking the desired action from the web owner, only when you understand the mind of your customers can you create systematic strategies and other practices to increase the conversion rate.

Although the primary focus is on conversion there are a lot of things that happen before conversion, as a marketer or website owner it is important for you to understand the entire process. For example, what specific drivers bring visitors to your site and what specific copy on your landing page or blogs convinces them to convert.

It is very difficult to relive every conversion incident in numbers, and you will not always see clear answers to your questions. However, you may find a major problem in a particular scenario, and fixing it will dramatically improve your site's conversion rate. You are supposed to test it even when everything is going well, and even after doing what you should, people will probably not convert.

What is conversion rate and how do you calculate it?

Conversion rate is the conversion amount divided by the total number of visitors. In other words, the conversion rate is determined by the total number of visitors to your website and the number of visitors who have already performed an action compared to the total number of visitors. In this case, performing an action could mean purchasing a product, subscribing to newsletters, providing email addresses, or becoming a visitor. A member.

To understand what conversion rate is and how to calculate it. Suppose you have 400 visitors to your e-commerce website in a period of (one month), and out of these 400 visitors, 100 visitors have already purchased products. This means your conversion rate is 100 divided by 400 which is 25%.

The conversion rate can be considered successful when visitors take any desired action. It's as simple as clicking the call to action button. The call to action can be anything else, for example: subscribe to the website and add products to the shopping cart.

There are countless marketing techniques to improve conversion rates based on hypotheses and psychological studies about users' online behavior. It's important to understand what makes visitors turn into customers. Marketers usually brainstorm by coming up with hypotheses and coming up with ideas on how to improve CRO.

We'll talk more about how to improve or double your conversion rate further down this article.

Why is conversion rate optimization important?

The main reason why conversion rate optimization is important is that it increases the chances of a website being successful. The main goal of every website owner is to get the most out of visitors. However, the issue is not as easy as it seems. Marketers have to implement multiple actions to increase the number of conversions, which may not work all the time.

In order to improve your conversion rate, you need to do a lot of research and understanding beforehand. It is a long process that also requires money in many cases. As your conversion rate improves, you'll get more visitors, but more importantly, you'll get a higher conversion rate.

Additionally, as you gradually try and test your techniques you can spend less of your money on ads and still get the same or better conversion rate.

6 foolproof ways to increase your conversion rates

1. Add a popup to your site

The average conversion rate from popups is 3.09 percent. However, you can increase the average rate to 9.28% if you implement popups correctly. A few changes can do wonders for your website's conversion rate. You can include attractive offers such as premium content, PDF, and other entry-level products.

You can also set a 30-second timeout to hide pop-ups and ensure your visitors are not disturbed by them. In addition, you can also make it easier for them to click the close button and set cookies so that they will not be shown again if they choose. For high-converting popups you can use OptinMonster , and its alternatives available in the market.

2. Add testimonials and reviews

No one wants to be the first person to try a product if the company's reputation is not well known. This is why adding testimonials and reviews can put customers at ease. Satisfying other people who have had to buy the product in the past will make new customers more likely to be motivated to buy the product.

3. Make the first step very easy

The nature of human beings is such that they are bound to complete the task they have begun. This psychological principle can work to marketers' advantage if they make the initial steps very easy. You can ask for something simple like “book” and gradually progress the forms to get more information. You should not submit a long form right at the beginning of the application process.

4. Add third-party registration service

For a customer, filling out an entire subscription form seems like a daunting task. This is why using a third-party registration service can dramatically improve your conversion rate. When there is an option to register using Google, Facebook or other platforms, the entire registration process becomes much easier.

5. Create compelling call-to-action copy

Overall, Call To Action will give you average results at best. You should create amazing CTA copy. It would help if you have a good mind and can create compelling call-to-action copy in a few minutes. To be more specific, you should start your copy with “yes.” The word sparks a positive light in visitors. You can experiment with your versions and see which ones generate the most clicks.

6. Providing money-back guarantees

Consumers don't want to take risks and put their money on the line. They usually become more skeptical, especially when they look at a source that is not well known. This is why companies offer a money-back guarantee. With this type of policy, consumers can overcome the feeling of risk because they can always get their money back if they don't like the product.

Summary

These strategies will definitely help you and improve your conversion rate if you implement them correctly.

It's always a good idea to have a marketing budget. However, with the right conversion rate optimization metrics, you can anticipate the desired action from customers without having to spend a lot of money.

If you have any questions or doubts about a particular part, feel free to ask us your question via the feedback form and we will solve your query easily.