Most marketing teams are focused on driving traffic toward websites in hopes that this traffic then converts into qualified leads for sales reps to close. But that’s only half the battle.
Getting more out of existing traffic and leads (versus entirely new traffic) can propel companies toward long-term, sustainable growth. That’s where conversion rate optimization (CRO) comes in. In this guide, you’ll learn about the power of CRO, why your business should focus on improving your conversion rate, and how to get started.
CRO Formulas
Leads Generated ÷ Website Traffic x 100 = Conversion Rate %
To calculate your number of net new customers, you’ll want to divide your net revenue goal by your average sales price.
New Revenue Goal ÷ Average Sales Price = Number of New Customers
Learn About Your Users
Before you dive into the numbers, it’s important to understand your market. Don’t think about what you want, but what your customers are really looking for. Ultimately, boosting conversions is all about serving the customer.
Calculate Your Returns
Looking for more motivation to boost your conversion rates? Calculating the potential returns that will come as a result of a higher conversion rate will be an excellent incentive. Keep these returns in mind as you set goals and work toward them.
Calculate Your Investment Total
Many companies overlook this step, but it’s an essential part of successfully optimizing your website for conversions. Your investment plan should consider the costs of marketing, development, and software testing.
Proper Implementation
Unfortunately, many conversion rate optimization programs fail before they even start. This is because the company doesn’t allocate proper resources to set the program up for success. Avoid this pitfall by making sure you have the right people and resources assigned to the job.
Fix Technical Difficulties Quickly
It’s normal to experience technical difficulties and bugs on your website. And though these bugs could be minor, they also have the potential to destroy your conversions. Make it as easy as possible on your website visitors by fixing website technical issues quickly.
Create a Detailed Conversion Plan
Want a truly successful conversion optimization plan? Don’t go at it randomly and inconsistently. Organization and planning is key. Schedule out your testing, decide where your priorities lie, set a timeline, and then get to work.
Test, Test, Test
Testing may seem tedious, but it’s the absolute best way to find out what’s really working for website conversions. Use A/B tests, multivariate tests, and any other type of test to determine the most effective methods.
Be Patient
Unrealistic expectations may sabotage your optimization plan. So keep your goals in check and practice patience. Good things come to those who wait!
Reflect
Even a so-called failed optimization plan can be a learning experience. Take time to reflect on what went well and where you could improve. Create a list of questions to ask every time you seek to increase conversions, then implement your findings the next time around.
Stay Ahead of the Curve
Done running tests on a certain web page? The work isn’t over! Ideally, you should already have your next test planned out, and keep testing until you’ve handled all of the biggest issues slowing down conversions. Remember that it’s a slow and steady journey.
There are many best practices out there when it comes to CRO but, ultimately, you need to find out what your customers respond to, and what drives results for your business.
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Bharti Tech Marketing Expert Team can empower your ads marketing campaign to the next level with impeccable A/B Testing strategies. To know more about our services, drop us a line and we’ll take it from there.
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