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Conversion Rate Optimization: Its Benefits and Strategies
Last updated: Sep 23, 2022
https://cmlabs.co/en-sg/seo-terms/conversion-rate-optimization
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What is Conversion Rate Optimization?
CRO, or Conversion Rate Optimization, is an optimization process to increase the number of website visitors who convert. Conversion itself is the action of visitors on a web page that is expected by the website manager.
Applying CRO can benefit your business. You can do certain actions, like subscribing to email, filling out personal data forms, downloading applications, or making purchases.
The percentage of visitors who convert is referred to as the conversion rate. The way to find out CRO is to use the following formula:
Conversion rate = (total conversions / total visitors) x 100%
If your website has a high conversion rate, then it is considered to be well designed and attractive to visitors. That is why the implementation of CRO strategy is important to increase business profits.
The Benefits of Conversion Rate Optimization
To give you a better understanding of Conversion Rate Optimization, you should know what benefits your website will get from it. Here are some of the positive impacts you can get from applying CRO:
Helping Understand Customers
The essence of CRO is the process of understanding customers to make them willing to convert. To increase your conversion rate, you should learn things about your potential customers, such as their habits, constraints, and desires. Then, you will do a trial run to find the best format that can answer the customer's needs.
Improving SEO Performance
Search Engine Optimization and Conversion Rate Optimization are two interrelated strategies. By implementing CRO, visitors will stay on the website longer because the content provided can answer their needs.
The long duration of the visit and the high engagement rate will be a good signal for search engines to rank your pages high on the SERP.
Reducing CPA Rate
CPA, or Cost per Acquisition, is the cost that must be incurred for each customer who is successfully acquired. The high value of CPA depends on the number of consumers and the total costs incurred. CRO can help lower the value of CPA.
Increasing Sales Profitability
The main goal of CRO is to increase the chances of increased purchase rates from website visitors. The better the CRO strategy is implemented, the more website visitors make purchases. It means that the profit generated by the website is higher.
Conversion Rate Optimization Strategies
After understanding the meaning and various benefits that will be obtained from implementing CRO, now is the time for you to learn about its strategies. There are five strategies you need to implement, which are:
Providing CTA on Blog Posts
Blog posts have an important role in attracting many visitors to a website. However, visitors who have read articles on the blog should stay on the website. This is where the CTA's role comes into play.
A CTA, or call-to-action, is an element that directs the visitor to take an action. Generally, the element is a button or hyperlink that contains a command word, such as 'Download' button or the 'Read Also' hyperlink. Your blog post can lead readers to convert by using a CTA.
Adding Lead Flow to Website
One of the powerful strategies in implementing CRO is to use lead flow. A lead flow is a pop-up element on a website designed to grab attention and give an offer to the audience.
There are many types of pop-ups that can be used as a lead flow. Some examples include slide-in boxes, drop-down banners, or pop-up boxes. You can use each type of pop-up according to the needs and offers provided.
Doing Test on Landing Page
Landing pages play an important role in CRO. This is because the landing page is a place for consumers to convert. A well-designed and attractive landing page can encourage visitors to convert.
Therefore, you need to do A/B testing to find out the landing page format with the best conversion rate. Some of the elements you can test include copywriting, images, offers, content structure, CTA buttons, and so on.
Creating High Quality Leads
It will be easier to increase the conversion rate if the website has a lot of quality leads or customer prospects. To get quality leads, you need to be able to build a good relationship with your audience. Use strategies like email marketing or building an online community.
You can also provide offers such as free trials or product demos so that potential customers are more interested in your product and more inclined to convert.
High-ranked Page Optimization
Check every page of your website that gets high rankings. Does the page already have a CTA? What is the percentage of the conversion rate? If the page has a low conversion rate, then the organic traffic coming from that page will be wasted.
Therefore, do CRO on pages with high rankings but low conversion rates. The trick is to see which pages of your website generate the most conversions. Afterward, you may apply the formula to pages that haven't been optimized.
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