Conversion rate optimization is simply the act of increasing the amount of website visitors or clients taking an action that supports your website's objective. It can be a very broad term given that it covers many things. It could also be defined as the number of action performed by the end-user, like filling out a survey or opting in to a mailing list. Conversion rate optimization has two effects: one, it increases the conversion rate - the number of visitors or customers completing a transaction with a company; and two, it improves the bottom line of the company. So let's get started with this article and discuss conversion rate optimization.
Most businesses focus on getting as many new visitors or customers as possible. While it's a good idea, most businesses find it hard to meet their conversion expectations. While some have the right expectations (customer satisfaction is key), others have unreasonable expectations (getting thousands of new customers is a pipe dream for most). This is where conversion rate optimization comes into play.
Conversion is crucial because it's the lifeblood of the business. If you can't convert people to buyers, you won't make any money. Let's explore the four main reasons why you need to bring people into your site.
First, conversion rate optimization (CRO) is necessary for search engine rankings. There are many ways to drive traffic to your website: article marketing, blogs, press releases, classified ads, etc. But if you're not focusing on bringing traffic in, none of these strategies will do you any good. In fact, you could argue that without conversions, all of your traffic could be pointless. While it's true that having a lot of traffic isn't always a good thing, the right CRO strategy can help you capitalize on the traffic you do get - and convert them into leads and sales.
Second, a well-optimized CRO strategy can bring you a lot of repeat visitors. You might think that just getting people to your site once is sufficient. In reality, it takes multiple exposures to a product or service to really get one's attention and make them want to buy. This is why most companies don't focus on conversion optimization at the beginning of their campaigns. They try out their best to bring visitors in, figuring they'll eventually develop conversions. However, by not using conversion optimization tools and methods, you'll never realize your goal if you don't target several hundred visitors to your site at once.
Third, you can use conversion rate optimization tools to test your advertising strategy. Conversion optimization tools typically include a number of different modules including landing pages, opt-in forms, opt-out forms, email capture forms, and so forth. These can be combined together in various ways to provide the maximum benefits to your business.
Fourth, getting high conversion rates can bring in a ton of money if you do it properly. Your overhead costs will be very low, since there won't be any need for a sales team. You can literally spend as little money as you want without spending as much time on a campaign. Of course, it will take a huge amount of effort to bring people to your site, but this effort should be accompanied by the use of proper conversion optimization techniques.
Finally, it's very easy to get wrapped up in the idea of generating as many conversions as possible. It is possible to do this with a single ad unit, but you should really spread your bets and use multiple 3-step campaigns to boost your ROI. It is possible to bring people to your site, but you have to convert them into buyers. There are a number of conversion optimization techniques you can use, but if you want to see your business go really viral then you should try a combination of these techniques. By using multiple strategies and focusing on converting your visitors into customers, you can quickly see your conversion numbers explode without much effort.