What is Conversion Rate

What is Conversion Rate Optimization?

What is Conversion Rate

Conversion rate optimization is a set of techniques to increase the percentage of conversions from a website or app.

It includes user research, competitive analysis, data analysis, and A/B testing. All these focus on persuading website visitors to take the desired action. 

A well-designed and effectively-structured website will appeal to the audience and drive a better conversion rate. In contrast, a low conversion rate could be due to various factors such as website design, load time, etc. 

Optimizing your website’s conversion rate can lower customer acquisition costs and eventually increase ROI. 

What is Conversion Rate? 

It is the percentage of people that take the desired action. The desired action could be a sale, newsletter sign-up, social shares etc.  To calculate the conversion rate, divide the number of visitors taking the desired action by the number of users visiting a page. 

For an e-commerce site, the desired action is a sale. While if you are a blogger, it could be an email newsletter sign-up. 

Why is conversion rate Optimization important?

Conversion rate optimization is a great tool to understand your audience and turn visitors into buyers. Some simple techniques to optimize your conversion rate can work wonders in increasing ROI because it is easier to improve your conversion rate than increase your traffic. It makes CRO a high priority for every business. 

When it comes to conversion rate, there is always scope for improvement. It is a constant process to create a better experience and increase conversions. Moreover, the ultimate goal is to increase the revenue of your site. 

How to start with Conversion Rate Optimization?

The first step is to identify the conversion goals for a particular page. The conversion metrics depend on your business type. 

The next step is to identify the areas to optimize. You can start with the pages that are underperforming on your site. Improving the underperforming pages has the most significant impact on your conversion goals. 

Homepage: The homepage of your website is the first impression on visitors. It is an opportunity to retain the visitors. 

Landing pages: The landing pages are designed for visitors to take action. Depending on the desired action, the landing page can be optimized. 

Blog: With CRO techniques, you can easily convert your readers into leads. This can include adding a call to action throughout the blog to encourage users to take the desired action. 

Pricing Page: The pricing page is another area of your website that can be optimized to benefit. It can include modifying the pricing intervals, including a phone number for a price quote etc. 

Common Conversion Rate Optimizing Techniques 

Improve Site Speed: Users expect the site to load in 2 to 3 seconds. If it is longer than that, they are likely to switch to another site. 

Improve your CTAs: The role of CTAs is often underestimated. All parameters such as colour, size, shape, and placement are critical. 

Use Dynamic pop-ups: Creating interactive pop-ups can help increase engagement. Pop-ups can be great conversion tools if done right. 

Include Live Chat or Chatbots: Chatbots are proven to increase customer satisfaction rates and also reduce customer service costs. You can also build an instant connection with customers by answering their queries instantly. 

Add social proof: Adding social proof is a great way to build trust and credibility. It can also include reviews, ratings, and social media posts. 

A/B Testing For Conversion Rate Optimization

A/B testing, also termed Split testing, is one of the fundamental elements of CRO. It is a way of comparing two different versions of the same page. The version that produces better conversions is declared the winner. 

However, the web page should have enough traffic to provide accurate results. If the sample size is small, it will be hard to reach a conclusion. 

Conversion Rate Optimization is all about understanding user behaviour and fixing the problem areas. There is always scope to create a better experience and increase conversions. With Woost, get complete solutions to boost your conversion rate and increase ROI. 

Frequently Asked Questions 

What is meant by conversion rate optimization?

It includes a set of techniques to improve the percentage of conversions from a specific page or website.

Why is conversion rate optimization Important?

CRO helps increase the conversion of traffic to your website. 

What is the purpose of conversion rate?

The purpose of the conversion rate is to know the number of visitors that are converting to customers.

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