Digital Marketing 101: What to Know about Conversion Optimization
Today, Conversion Rate Optimization (CRO) is viewed as the holy grail by many web marketers. While PPC and social media marketing surpass CRO efforts in general, increasing your website's conversion rate yields significant benefits and is straightforward to track.
To boost conversions, the most successful companies constantly iterate and enhance their websites and mobile applications.
Keep reading to discover everything you need to know about conversion optimization in digital marketing.
The conversion rate is the percentage of website visitors who accept your offer. Some examples of conversions are purchases, newsletter subscriptions, downloads, filling up forms, surveys, and feedback or reviews.
With any of these metrics, it’s the marketer's job to generate interesting content and a user-friendly website that gets visitors to convert. Having a solid understanding of what is working on your website is key to being able to estimate what your CRO rate could be when certain actions are taken by the marketing team.
Assessing Your Conversions
Conversion rate optimization begins with determining the conversion objectives for the website. The success metrics for your website or application will be determined by your business goals. Thus, it is critical that you spend time assessing your website performance and pinpoint the parts of your online presence where you can improve.
If you sell products online, you can buy conversions or the number of visitors who add a product to their shopping cart. If you sell to businesses, you can measure website leads and white paper downloads.
For this, your industry-specific conversion goals should include e-commerce income, shopping cart adds, shopping cart completion rate, newsletter signups, page views, ad views, newsletter subscriptions, engagement with recommended content, conversions, and add-on acquisitions, social shares, as well as B2B leads and sales.
You can optimize the conversion rate after you have conversion statistics for your audience's digital activities.
Enhancing Your CRO Efforts
Now that you’ve established what conversion rates you will be monitoring, you now have to use data to understand how to impact those conversions. Understand what your calls to action are and look at where they are placed. Just adding more content to offer evidence as to why a visitor should convert might actually damage your messaging. Clear, concise messaging with understandable calls to action is key to conversions.
To guarantee that your calls to action have the best impact on your leads, you must analyze their quality and placement. Install a tool like Hotjar or Microsoft Clarity to get heatmaps of your web pages and understand where users are spending their time as they read your website.
Track your website's visitors and conversions using Google Analytics. The website metrics you can improve on are the traffic of your audience, visitor conversion, and site interactions during each visit. The target market and traffic source are the most essential metrics. You can distinguish between prospects and overall traffic by focusing on a single data set.
With these tools in place, you’ll be able to enhance your CRO efforts with real data, not just subjective guesses. If you are not collecting this data, make that your next investment over new landing pages or more content.
Optimizing your website should be driven by your CRO strategy and conversion goals. It’s that simple. You will enhance the number of qualified visitors, conversions, and profitability by implementing CRO tactics such as lowering the bounce rate and shopping cart abandonment and enhancing CTA click-throughs. But picking those strategies comes from meaningful data you are gathering from your website so prioritizing installing data capture software should be your first priority. Once you have that data in place, establish the metrics you are going to use to inform what you do to your site to improve your conversion goal.
Do you want to learn more about online digital strategies? Torch Digital Labs is here to offer you innovative services and assistance unlike any other. Work with us today!