Understanding Conversion Rate Optimization
In online marketing, conversion rate optimization, or CRO, is a method for increasing the rate of visitors to your site who, ultimately, turn into paying customers, or otherwise take some desired action on a page. Generally, it is also commonly known as CRO. This article will talk about what CRO is, what it does, and why it’s so important.
Put simply, conversion rate optimization (CRO) is the process of increasing traffic to a site that in turn increases the number of customers who, ultimately, turn into paying customers. The goal of most online businesses, including yours, is to convert traffic into paying customers. Therefore, your focus should be on increasing traffic, particularly targeted traffic. You’ll want to work hard to get it to as high a conversion rate as possible. To increase targeted traffic, one of the most effective ways is through search engine optimization.
So how do we optimize our website visitors so that they convert into paying customers? Conversion rate optimization starts with analyzing your website visitors. How are they entering and leaving the page? What are their individual preferences, i.e., where they are entering the website, what pages they tend to look at, what pages they leave, what they tend to look at again, etc.
Conversion optimization can be understood somewhat simply – we want to sell products to our website visitors. We want to persuade them to move from just looking at our website to actually visiting and making a purchase. Therefore, the first step is to identify your conversion goals. (Conversion goals can vary widely based upon your business model and market, but common goals are to sell products, persuade visitors to take action, provide information, guide visitors, etc.)
Once you’ve identified your conversion goals, the next step is to measure your progress. You can do this either on an individual basis, by tracking individual visitors and their actions, or by using conversion metrics. Conversion metrics are either conversion trackers (such as Conversion Tracking Module or CPM) or personalized online reviews. These work in pretty much the same way as on-site surveys, but instead of receiving answers about individual pages or visitors, these provide comprehensive feedback about visitors’ behaviour and about your website as a whole.
Conversion metrics can also be used together with your optimization efforts. For example, if you’re optimizing for organic searches, then you want to optimize your website for specific keywords. Similarly, you’ll want to optimize for your market’s key phrases. Conversion tracking, on the other hand, can help you see which of your keywords or key phrases are bringing in the most traffic. By monitoring what’s working and which isn’t, you’ll be better able to optimize for that, and improve the performance of your SEO efforts.
Finally, it’s important to understand your conversion rate in the context of your website’s demographics. To calculate your conversion rate, you need to know the number of total visitors, your average time on the site, the median time on the site, and the largest amount of activity from the last 100 days.
These numbers will give you the relative proportions of visits to total impressions. The bigger your niche, the greater the percentages of impressions to conversions. Also keep in mind that the absolute number of impressions doesn’t really tell you anything about how well your page is doing.
You should always strive to maximize your conversion rate. A high one will translate to higher profits and fewer losses. If you don’t get good conversion statistics, then it could mean that you aren’t reaching the people you’d like. On the other hand, a low conversion rate could mean that your visitors aren’t really that interested in your site, so it’s really not serving any purpose.
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