What is Conversion Rate?
This refers to the percentage of users who take a desired action. The most common example of conversion rate is the amount of website visitors, in percentage, who purchase something on the site. Let’s say there is an ecommerce website that has 300,000 visitors in the month of July. The site received 3,000 transactions within that month. Therefore, that site’s conversion rate that month is 3,000/300,000 = 3%.
What Is Conversion Rate Optimization?
CRO, or Conversion rate optimization, is the process where you increase the percentage of your website visitors. These target visitors are the ones who take actions beneficial to your company. Actions such as filling out your forms, becoming a customer, and other actions your business finds valuable. This process takes in the understanding of how your users will move through your site, what actions they are most likely to take, and what is preventing them from completing the goals you have set for them.
What’s A Conversion?
This is the general term for a visitor completing one of your site goals. These site goals come in all different shapes and sizes. Therefore, if the goal of your website is to sell your products, then each time you sell one of your products through your website, you are receiving a conversion. This could be the primary goal, or macro-conversion, however, they are all conversions. There may even be smaller conversions, or goals, that must be completed first. These are micro-conversions. For example, signing up to receive emails can be referred to as a micro-conversion. It doesn’t complete your primary goal, but it leads them to your more sought after goals.
Examples Of A Conversion
- Signing up for email lists
- Adding a product to their cart
- Creating an account
- Purchase from your site
- Subscribing to your service
- Requesting a quote
Ways CRO benefits SEO
Improved Customer Insight
Conversion Rate Optimization is an excellent way to gain a better understanding of what you key audience will be searching, and what type of language they are using when they search. This helps you look and find the right customers for your business. Attracting more people to your website doesn’t do any good for your business if they aren’t interested in what your company provides.
By making more of the resources available to you, you will have a better conversion rate. Therefore, by studying the most out of you acquisitions, you will gain more conversions without having to find as many potential customers.
You audience will not scale to the growth of your company. However, CRO does let you grow without running out of resources and potential customers. This is due to the fact that audiences are infinite. By having your browsers turn into buyers, you will be able to enhance the growth of your business without having running out of your potential customers.
Better User Experience
When users feel smart or sophisticated while they are navigating through your site, they get this urge to stick around. Nobody will stay on a site that makes them feel stupid for not understanding how to get around to the information, service, or products your business offers. This happens by taking what works, expanding on it, and making the experience for your users better.
By having a great user experience, while offering quality products and services, you are making potential buyers feel safer about sharing their personal, credit card and contact information. They have to have a genuine trust to be able to justify sharing such precious information with you. Just like how an internal sales team operates, your site must be professional, courteous, and ready to answer any and all questions that come your way.