What is conversion rate optimization (CRO) and why is it so important? Increasing your conversion rate can reduce your cost per acquisition by as much as 50%. It has even been used by Barack Obama's presidential campaign. To increase your conversion rate, you need to first determine your baseline number of visitors and then perform tests. Conversion tracking and audience segmentation are essential components of effective conversion rate optimization. If you are not tracking your conversion rate, you may not be optimizing your website properly.
You can measure the effectiveness of your CRO efforts by using some starting metrics. Google Analytics offers free information that can help you track everything from bounce rate to time on page. Bounce rate, time on page, and UX are a few metrics that may be affected by your CRO efforts. By testing each metric to measure its effects, you can make changes that increase your results. Most conversions happen at lightning speed, especially in e-commerce.
A simple change in your call-to-action button copy can increase qualified leads by 221%. In fact, a company called Performable increased its click-through rate by 21% after changing the copy on their call-to-action buttons. Even the smallest of changes can have a major impact on your bottom line. Using a red button, for example, increased their click-through rate by 21%. When you make changes to your website, your goal should be to increase your conversion rate.
While conversion rate optimization is not rocket science, it does require active thinking and a lot of effort. There are many proven techniques for increasing conversion rates that are effective and can increase your profits. For new digital marketers, however, it can be difficult to implement. Conversion rate optimization tools can help you identify pages on your site that need tweaking and test their results. There are no absolutes with conversion rate optimization, but you can get an idea of how effective your approach is by comparing it to those of other companies.
Using multiple-step checkout flows is another effective technique for increasing conversion rate. GoodAccountants uses a multi-step checkout flow. Initially, the website asks users about their need for an accountant and then asks for their contact information. The more information they give, the more likely the user is to convert. The better your conversion rate, the easier it will be for your users to buy from you. And don't forget to make your marketing messages compelling and specific.
Another way to increase conversion rate is to test different versions of your website. This way, you can find which version is performing better than the other and optimize it based on results. You can even compare different combinations of elements. Once you know which version converts better, you can apply the same method to the other versions. There is also a method known as multivariate testing, which enables you to test more elements at the same time.