Conversion Rate Optimisation is a term used to define the systemic process of increasing the percentage of website traffic who complete the desired or target task per each visit in the website. That could be conversions or lead generation.
The target task can be filling out an opt-in form, making a purchase, allowing browser notification, and much more. The process of completing the set task is what is referred to as a conversion. Furthermore, conversions can be classified as macro-conversions (conversions relating to making a purchase such as requesting a quote, subscribing to a service, or making a purchase) and micro-conversions (relating to building a relationship with the business such as creating an account, signing up for the email list, and other similar tasks).
Conversion rate, therefore, is the number of times a user fulfills the set target task in relation to the number of unique visits to the website. For instance, when it comes to an e-commerce website, purchase conversion rate are determined by dividing the number of conversions users make by the overall number of unique visits.
The information derived from the conversion rate is crucial in enabling business owners to understand which marketing strategy is yielding better results, and therefore, producing a higher return on investment. Thereafter, a business owner can make tweaks and changes to their marketing strategy as well as their website to ensure the highest rate of conversion. This is what CRO is all about.
While the basic principle of CRO is simple, the way you go about conversion rate optimization can vary considerably. Website owners and operators can use the following methods to achieve conversion rate optimisation:
1. Multivariate or A/B Testing – This a CRO method where you use two different landing pages with different elements, themes, and designs. For instance, on one landing page you can use animated imagery and the other you can use photographs. Thereafter you track the performance of each page with the intention of finding our which is converting better, and, therefore, which is a better option to use. You can vary things like the headline, the colour scheme, the size and position of the call to action, and much more.
2. Consumer Journey Report – The way customer behave during the purchase process is quite complex. From the time the customer is advertised to all the way until they make a purchase reveals a lot about your conversion optimisation. Studying and tracking customer journey enable businesses to understand what they are doing right and where they can improve to increase their CR rates.
3. Customer Feedback And Or Online Surveys – Businesses and website operators also make use of customer surveys to gather the information about their purchase experience and where people can make improvements.
Other notable CRO methods include copy optimisation, cart abandonment analysis, using a structured approach, or simply using a high-breed combination of the above.