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What is conversion rate optimization?

by MarketBillion
What is conversion rate optimization

Conversion rate optimization refers to raising the percentage of conversions from a website or mobile app (CRO).CRO often entails coming up with suggestions for features on your website or app that may be improved, then testing those hypotheses using A/B and multivariate methods to confirm them.

Why is it vital to optimise conversion rates?

By extracting more value from the visitors and users you already have, conversion rate optimisation enables you to reduce your customer acquisition expenses. You can boost revenue per visitor, attract more clients, and expand your business by optimising your conversion rate.

For instance, if a landing page receives 2000 visitors per month and has a conversion rate of 10%, it will produce 200 conversions per month. The number of conversions created increases by 50% to 300 per month if the conversion rate can be raised to 15% by optimising various page elements.

There is always room for improvement when it comes to increasing conversions, and the best companies are constantly improving their websites and mobile applications to improve user experience and increase conversions.

Where to Put a CRO Strategy in Place?

Here you can check the four areas of your website where increasing conversion rates could be beneficial.

  • Home Page

Homepages are excellent CRO prospects. The homepage provides an opportunity to capture visitors’ attention and direct them further into your website, in addition to serving as their first point of contact.

You can achieve this by drawing attention to product information links, providing a free signup button, or even integrating a chatbot that asks visitors questions at any time while they are exploring the site.

  • Pricing webpage

For many website visitors, the pricing page may make or break their experience. By altering the pricing intervals (for instance, price-per-year versus price-per-month), describing the attributes of the product according to each price, and offering a phone number for visitors to contact for a price quote, or including a simple pop-up form, CRO can assist a pricing page in converting visitors into buyers.

  • Blog

A blog offers a website a huge chance for conversion. A blog can employ CRO to turn visitors into leads in addition to delivering meaningful and beneficial information about your industry.

Adding calls-to-action (CTA) to an article or asking readers to provide their email address in return for an ebook or industry report are common examples of how to do this.

  • Landing Pages

It makes sense that landing pages, with a conversion rate of 23%, have the highest average of all signup forms because they are inherently geared to encourage users to take an action. An event landing page, for instance, can be enhanced with a video from the last event to entice people to sign up for the current one. To entice users to download a free resource, a landing page might be optimised with preview content from that resource.

With conversion rate optimization, you can target qualified prospects and make the most of your current website traffic, so get started by picking the best service providers.

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