Borne out of the need to turn visitors into customers, conversion rate optimization (CRO) is now one of the driving forces to monetize different elements of a website.
It works similar to the concept of shopping in a physical mall. If the display looks promising, you give it a try and go through the items inside the store. If you like what you see, you’ll buy straightaway. A sales person would normally approach you to give his or her sales pitches.
In an online set-up, the store display is comparable to the landing page. If experience is outstanding at this point, the user tends to browse through the website some more. This is where your content will work wonders for you, or not.
The difference is – with a physical store, you are only able to gauge performance by the actual sales made, while an online shop is able to not only tally the number of website visitors, but also can identify customers’ buying behavior. Who bothered to count footfall inside the Victoria’s Secret shop in the last 5 years? Or, tell whether the one who bought a pink bikini also purchased a black tank top and a nude lipstick?
Conversion optimization brings more than a sale. It brings a quantifiable measure that can explain various derivatives. Why do you think businesses are going crazy about this?
If you set conversion rate at 20% and your website is doing 50%, it’s time to party. The opposite of this is where most online merchants dwell – poor translation of visits to sales. This will push you to assimilate and scrutinize your data.
CRO feeds you with live statistics on how your page is doing in terms of seconds/minutes spent by a visitor at the landing page before exiting, where is the tipping point mostly, what content is viewed the highest/lowest and more.
With this, you can act as fast as you can and maneuver your strategies real-time. In e-Commerce, quick and sound decision-making sets the difference.
Advanced Analytical Approach
Let the numbers do the talking. If you have this brilliant proposal in mind, but you are unsure where to get support or how to back it up, CRO will come to your rescue. It makes you more analytical in terms of strategizing.
You would know if your customers were brought to the website by Facebook or Twitter. Deciphering which social media can get you more traffic can be a game changer.
If before you rely on Amazon ratings to direct your investments, you now have your own set of data telling you more than just the product’s market traction. You are given the holistic user experience picture and behavior analysis.
A person who bought a camera lens from you may have clicked on other items such as tripod and waterproof case. You can use this as to integrate in your predictive model or the “you might also be interested to buy” section.
The golden rule of online marketing is to always put yourself in the shoes of a customer. What do you want to see? What will make you buy? How do you want user experience to be?
Obsoletion of Gut Feeling
Instincts are there for a reason. Some successful businessmen have relied on these when they made life-changing decisions. But, while you want to take more risks, you want these to be calculated. Knowing your fighting chance at something gives you more confidence and consolation.
The gut feel becomes a thing in the past as you allow your data to take charge in its most realistic sense.
Controlled Testing of Propositions
Trial and errors are employed by some organizations. Say you want to test whether this landing page layout works better. CRO tells the traction of different landing pages in exact figures. This is where the usual “good” become 1,000 impressions in 1 minute and “bad” is defined by 50 views in 2 days.
Both internal and external elements are crucial for CRO – internal being the on-page optimization of page’s design, layout and function, while the external resources include SEO, social media and email marketing. What you should remember is that it’s a challenge to create a Frankenstein site by stuffing all the tips and tricks you were told altogether. Pick what you think will work, and make it work come hell and high water.
Photo Credit: Flickr/Stephanie Agresta