Conversion rate refers to the number of visitors completing a desired action on a site within a certain time period. And, conversation rate optimization is the strategy constructed to increase the percentage of conversions from the mobile app or website. Conversation Rate Optimization or CRO generally involves analyzing data and insights gathered from users. Doing A/B testing, and multivariate testing to understand and create a strategy to make improvements and see more conversions is a great way to gain this data. Today, businesses are realizing how important digital marketing is for success and are investing in conversion optimization services that are focused on increasing sales within a smaller budget. (Information credit: https://www.gillsolutions.com/marketing-agency-full-service/conversionoptimization)
Conversion rate optimization services are dedicated towards encouraging target audiences to buy products/services from the concerned businesses. Digital marketing experts have to carefully strategize, as conversions do not happen on their own. For this, the website of the concerned business has to be studied properly such that the wants of the target audience align with the services/products provided by the business. For an ecommerce website, conversions generally include an online sales, visitors adding an item to their cart or wish list, the creation of new accounts, and even sharing posts through social media, etc.
The first step in conversion optimization services would include understanding what the visitors want and where the website lacks that potentially is making visitors leave the website without taking action. With this in mind digital marketing experts can help a business improve their performance and experience by understanding the requirements of the customers, conducting online surveys, feedback polls, and employing heat mapping tools. Technical analysis through cross device testing and assessing speed of the site, qualitative customer feedback through surveys and polls, heat mapping, and user testing through identification of sources of friction are some of the methods of gathering conversion insights of a site. These processes help the conversion rate optimization strategy makers to understand the reasons behind user behavior and what makes them convert and what leads to abandonment.
AB Testing is often conducted by digital marketing experts to help understand what needs to be changed or transformed, in order to in crease conversions. Changes might be made to the page text, page layout, call to action statements or selling process. Usually, conversion optimization services include multipage testing, landing page optimization, form optimization, and checkout and form optimization.
In short-term, CRO shows how the market will actually respond to the strategy and understand the visitors better. As a long-term process, conversion rate optimization strategy will help in building a sustainable and consistent visitor rate. A proper CRO strategy helps in increasing the site’s revenue month after month that leads to a greater cumulative annual growth. At a later date, the results of a good strategy may lead to an increase in conversions even if there is little increase in site traffic.
Creating an urgency among the visitors would be a good way to increase conversion rates and sell for a business. For instance, for an ecommerce site, the following points can help in creating more conversions.
– Offering what the visitors want: An urgency can be created by actually providing what the visitors want. For this, of course, a detailed study is required that will relay the requirements of the target audience. If the eCommerce site offers something their visitors do not want, then there will hardly be any conversions. Creating an urgency would amplify the desire to purchase that something and purchase it immediately. Such methods will lead to faster conversions and the eCommerce site will also experience more gains.
– Setting a deadline: An urgency cannot be created in case of an eCommerce site if there is no deadline to the deal. If an eCommerce site offers unlimited time for buying the product or service at a discount (suppose), then visitors will not feel the rush or need to buy it. Even if they require the product or service, they will think that there is enough time to buy the product and even forget the deal later. Setting a deadline will create an incentive for visitors to take action. Visitors will feel that they need to take an action within the limited time and in the process create a conversion as well as profit for the business.
– Creating a fear of missing out on the deal: In the contemporary world where a large number of eCommerce sites exist, it is important to stand out in order to increase the number of products or services sold. In the process of creating an urgency to increase conversion rate, a business can highlight how effective their product or service is, in what ways is it better than other such products or services offered by competitors. An eCommerce site can also create an illusion that the product is about to run out. This will create a rush among visitors to buy the product before anyone else. In the case of a services product, this too can be done by announcing that only a certain number of clients get admission every month or course. A competition can also be initiated among the visitors with attractive rewards on success to create more conversions.
– Keeping the content right: A compelling call to action and ad copy can increase conversion rates significantly and compel visitors into making a purchase. Inserting words like ‘now’, ‘last chance’, ‘hurry’, ‘limited time’, ‘instant’, etc. will create a sense of urgency as well as compel visitors to click on “Buy”.
– Customizing offers: To generate more profits through CRO services, an eCommerce site can introduce customized offers. The site should track the pages visited by the target audience and the items they viewed. By studying the activities and behavior of the visitor on their pages, the eCommerce site can send notifications and emails offering customized discounts or other offers. This process can also be applied on someone who had abandoned their cart or have forgotten about the items stored on their wish list.
Conversion optimization services also include studying previous campaigns, understandings the strengths and weaknesses, and improving upon them. The objective of the whole campaign is to increase the conversion rate of the site and ultimately lead to increased revenue.