Actionable tasks for improving website conversion rates
Conversion optimization is a fundamental concept in modern Internet marketing. Commonly referred to as CRO, conversion optimization is finding ways to turn traffic into customers. In other words, the first step is to attract a lot of traffic to your website, then conversion optimization comes in by trying to turn a high percentage of those visitors into actual customers. There are several proven ways for improving conversion rates. Improving conversion rates is a priority for any Internet-driven business because even a small gain in CRO translates into a sizable difference in profit and market share.
One of the great things about Internet business is that statistics are readily available for a large part of your business operations. In the early 2000s, conversion optimization was born as a way of competing in a market that was becoming increasingly saturated. Conversion optimization seeks to monitor activity in consumption in real time, collecting data on the behaviors of consumers and then applying these concepts to increase the scope and reach of an online marketing campaign. Rather than spend money on attracting more visitors, conversion optimization is designed to reduce the &ldquobounce rate&rdquo, that is, the number of visitors that go away without buying anything.
There are two main philosophies when it comes to improving conversion rates. One school of thought believes that the best way for improving conversion rates involves massive empirical testing. In this approach, constant tweaks are made to a website&39s layout and to an online marketing campaign&39s tactics, constantly monitoring what gives the best results. Another approach towards improving conversion rates focuses on a thorough research of the target audience, designing a message that is specific to the target group. Once this preemptive research has been made, then real-time testing can begin. Most experts today agree that effective conversion optimization should not be limited to real-time testing, but to prior research as well.
Most conversion optimization methods will involve the analysis of hundreds of different variables of data, finding the best combinations for turning visitors into costumers. Some examples of variables that are analyzed for conversion optimization include geographic, demographic, and behavioral variables. Typically, an Internet business sets definite optimization goals, with the subsequent methods geared towards achieving these goals. Conversion optimization methods are derived from methods that have had success in other activities, like supply chain management, air traffic control, and military logistics.
Doubling, or even tripling a company&39s conversion rate is a goal that is achievable in many cases. Most younger companies focus excessively on gaining traffic on their website, but fail to make the changes that are necessary for improving conversion rates. Surprisingly, the changes that are required are often not that big. Simple things like changing the design of a button, making sure that a form stores specific information so a user does not have to enter it again, or managing the advertisements on a website can be the difference between a customer actually buying what you are selling, or browsing around your website and then leaving.