Conversion Rate Optimization (CRO): How to start optimizing your marketing by improving customer experience!Feb 03, 2023
Getting leads for your business is necessary, but what you do with those leads will keep your doors open and pay your bills. Conversion rate optimization (CRO) is the path to revenue growth, but where do we even start? In this post, we'll explore conversion optimization, how customer experience impacts conversions, how you can measure your conversion rates and strategies for improving them. So if you're looking to hustle less and profit more with an effective conversion strategy – keep reading.
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What is Conversion Rate Optimization?
Conversion rate optimization is the process of understanding customer behaviour and optimizing marketing strategies to increase the percentage of people who take a desired action, like making a purchase or signing up for an email list. It's not just about generating more traffic–it's also about getting those visitors to take action! The thing most people mess up when it comes to conversion rate optimization is becoming obsessed with the data and forgetting the person. Conversion rate optimization is all about customer experience, and the companies with the best overall experience will always have better conversion rates.
For example, there are two e-commerce sites selling the same clothing. The first website is slow to load, has zero reviews, and is hard to navigate. The second website is fast loading, filled with reviews, and has an easy-to-navigate menu. Which site's conversion rate do you think will be higher? The second one! Why? Because the shopping experience was better. You can go down deep rabbit holes looking for quantitative data and use complicated multivariate testing to optimize conversion rates, but the truth is that the best experience will always win.
The Benefits of CRO
The benefits of conversion rate optimization are massive! It can help reduce customer acquisition costs by improving your marketing funnels' efficiency, increasing customer engagement by providing relevant content tailored to each visitor's needs and interests, and boosting ROI by helping businesses maximize returns on their lead generation investment. The same tactics used to improve your conversion rates can also improve customer loyalty, retention and referrals!
Website's Conversion Rate
One of the primary benefits of CRO is that it helps you identify areas where your website or marketing campaigns could be improved. For example, if visitors to your site aren't converting into customers at the rate you'd like them to be, then there may be an issue with how easy it is for users to navigate through your site or find what they need quickly. With CRO tools such as heat maps and A/B testing, you can easily see which elements of your website are working well and which ones need improvement so that you can make changes accordingly. A simple way to evaluate your site is by having a complete stranger who isn't very good with technology navigate your site. Ask them to do one specific action and give no instructions, then wait and see how long it takes and how hard it was. This can give you more than enough data to significantly improve your website conversions.
Customer Behaviour Patterns
Businesses can target specific audiences more effectively by gaining insights into user behaviour patterns. If someone does something one time and has a great experience, more than likely, they will do it again. This kind of data provides valuable information about customer preferences so that businesses know exactly what content will resonate best with their audience and lead them toward conversion. Things like time on page, blog post clicks, and web form completion can tell you a lot about where customers are spending time, what is relevant, and what they want more of!
Reduction of Costs
One of the most essential benefits of CRO is its ability to reduce costs associated with running a business online. By increasing conversions, you can reduce the amount of money you spend on lead generation because you need fewer leads to make more revenue. By streamlining processes like your customer intake, checkout process and payment gateways, customers can easily complete transactions without any unnecessary steps, resulting in fewer abandoned carts overall. A bonus is that these same strategies allow businesses to optimize landing pages for higher conversion rates, leading directly to increased revenue over time!
Overall, using effective Conversion Rate Optimization techniques are a no-brainer for any business wanting to increase revenue and efficiency.
Key Takeaway: CRO is an effective tool for small business owners to maximize ROI and reduce overhead costs: 1. Identify areas needing improvement on your website 2. Target specific audiences more accurately 3. Streamline processes such as checkout flows & payment gateways 4. Optimize landing pages for higher conversion rates.
Measuring Conversion Rates
You get more of what you measure–measuring conversion rates is essential in understanding how successful your marketing efforts have been. Most businesses are marketing on various channels, including organic search traffic or paid campaigns like Google Ads or Facebook Ads. You need to measure your conversion rates on all channels to get the most out of your efforts and know where you should spend more time and what channels you can abandon.
How to Measure Your Conversion Rate
"Attribution is hard." - Every marketer ever. Understanding how and why things work and don't isn't always easy. But there are simple ways to track and measure conversions regardless of how tech-savvy you are. Remember, at its core, conversion optimization is all about customer experience.
One way to measure your conversion rate is through A/B testing, also known as split testing. A/B or split testing involves creating two versions of something, with one version being the control (A) and the other being the variation (B). You can then compare which version performs better, meaning more users took the desired action, giving you insight into what works best for your audience. A/B testing is a simple and effective way to understand what matters most to your customers and can help you identify specific things that make a big impact.
A great place to start with A/B testing is email marketing. Simple things like where you place a call to action, the colour of buttons, and subject lines can be optimized using A/B testing. The key is to test one thing at a time and collect enough data to make an informed decision.
Google Analytics and other analytic tools can provide valuable insights into how effective different pages on your website are at converting visitors into customers or leads. With Google Analytics, you can track metrics such as bounce rate and average session duration to see which pages have higher engagement levels than others and adjust accordingly if needed.
Correctly setting up your conversion settings in your analytic tools is essential, so don't skip out on having a professional tackle those technical tasks.
Customer Reviews & Surveys
There is no better place to understand your customers than straight from their mouths. One of the least used and most effective ways to improve conversions is to survey your customers regularly. Tracking customer feedback via surveys or reviews can provide powerful insight into why some visitors convert and others don't - allowing for more targeted improvements based on real-world data rather than assumptions about user behaviour patterns alone.
Regular customer surveys should include questions about ease of site navigation, what parts of the buying process were most challenging, and what improvements they would like related to their experience.
Measuring your conversion rate is an essential step in understanding the effectiveness of your marketing efforts. Now, let's look at strategies to improve that rate and increase your profits.
Key Takeaway: AB testing, analytics tools and customer feedback are all effective ways to measure conversion rates and improve website performance.
Strategies for Improving Your Conversion Rate
There are infinite ways to improve your conversion rates, and what tactics you use will depend on your business, customers, bottlenecks and goals. It's important not to get caught up in the never-ending numbers game and to remember that at the core of conversion optimization is customer experience. Improve customer experience, and you will always find improved conversions. Here are a few simple conversion strategies you can use in your business.
Personalizing content can massively improve conversions–no one wants to receive transactional automated messages or have bland experiences! By providing personalized messages tailored to individual leads, you can increase engagement and encourage people to take action. You can use customer data such as downloads, emails read, past purchases or interests to craft messages that resonate with them more effectively than generic ones. Personalizing emails by including the recipient's name in the subject line can boost open rates significantly compared to generic emails without names contained in the subject line. It's not rocket science! Treat prospective customers like real people, and you will have better results.
Optimizing Landing Pages
Your landing pages should be set up for the best possible user experience and SEO purposes; this means they should be easy to find and navigate, be visually appealing, contain relevant information about products or services offered, and include clear calls-to-action (CTAs). It is essential that your forms are short, so users don't get overwhelmed when filling out their information - only ask for necessary details like name and email address before asking for additional information later on down the road once trust has been established.
Improving User Experience
I know I already said this, but...user experience is vital when it comes to improving conversion rates; if visitors find navigating through your site difficult or confusing, chances are they won't stay long enough to consider purchasing from you. To ensure visitors have an enjoyable experience while browsing through your site, ensure everything loads quickly (including images) and there aren't any broken links leading nowhere useful. 404 pages can also be a great place to add a personal touch that shows users you care. All these small details add up when it comes to optimizing user experience overall.
You can start to see improvements in your conversion rates quickly by looking at each touchpoint through the eyes of a prospect–how would they feel, think and act when receiving your emails or navigating your site? Can't figure it out? Ask them!
Key Takeaway: To optimize your conversion rate, AB test pages, personalize content, optimize landing pages and improve user experience.
Conversion Optimization is essential!
Conversion rate optimization is essential for any business looking to increase its profits and scale. It's important to understand the basics of CRO and that it's all about improving customer experience. Start optimizing today – don't let another day go by without taking advantage of the power of conversion rate optimization (aka customer experience).
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