Rate optimization

Conversion rate optimization (CRO) is the process of increasing the percentage of users or website visitors who take a desired action (such as purchasing a product or leaving contact details).

Online conversion rate optimization (or website optimization) was born from the need for e-commerce marketers to improve the performance of their websites after the dotcom bubble, when technology companies began to be more conscious of their expenses, investing more in website analysis.

After the outbreak, when website building became more accessible, tons of pages with poor user experience were created. As competition on the web grew in the early 2000s, website analytics tools became available, and awareness of website usability grew, Internet marketers were driven to produce measurable data. for your tactics and improve the user experience of your website.

Importance of conversion rate optimization:

Conversion rate optimization is important because it allows you to reduce customer acquisition costs by getting more value from the visitors and users you already have. By optimizing your conversion rate, you can increase revenue per visitor, acquire more customers, and grow your business.

• A landing page has a 10% conversion rate and receives 2,000 visitors per month.
• The page will generate 200 conversions per month.
• If the conversion rate can be improved to 15% by optimizing different page elements, the number of conversions generated increases by 50% to 300 per month.

There is always room for improvement when it comes to increasing conversions, and the best companies constantly iterate and improve their sites and apps to create a better experience for their users and increase conversions.

CRO tools:

CRO tools help you:

• Understand why visitors don’t convert into leads or customers
• Identify possible changes to make to your website to increase conversions.
• Test the changes you make to your site to get the highest conversion rates

There are many CRO tools to choose from, so we’ve put together a list to make your search a little easier. We will review twelve popular CRO tools:

• Google Analytics (and GA 360)
• Adobe Analytics
• Heap
• Hotjar
• Crazy Egg
• FullStory
• Google Optimize
• Optimizely
• Instapage
• HubSpot
• HelloBar
• OptinMonster

4 types of CRO tools:

• Web analytics CRO tools
• Behavior analytics CRO tools
• CRO testing tools
• Lead capture tools

CRO benefits:

While not necessarily directly related to attracting organic website traffic or ranking on a search engine results page (SERP), conversion rate optimization has distinct benefits for SEO. These include:

1) Improved customer information. Conversion rate optimization can help you better understand your key audience and find which language or message best suits their needs.

2) Better ROI: A higher conversion rate means getting more out of the resources you have. By studying how to make the most of your acquisition efforts.

3) Better Scalability: While your audience size may not increase as your business grows, CRO allows you to grow without running out of resources or potential customers.

4) Better user experience: When users feel smart and sophisticated on your website, they tend to stay. CRO studies what works on your site. By taking what works and expanding on it, you’ll get a better user experience.

5) Improved Trust: For a user to share their credit card, email, or any type of personal information, they must genuinely trust the site. Your website is your number-one seller.

Calculation of conversion rate:

For example: Your website receives 100 visitors in a day and 15 visitors subscribe to your email newsletter (whichever conversion you choose to measure). Your conversion rate would be 15% for that day.

References:

• https://www.hotjar.com/conversion-rate-optimization/tools/
• https://moz.com/learn/seo/conversion-rate-optimization
• https://www.optimizely.com/optimization-glossary/conversion-rate-optimization/
• https://en.wikipedia.org/wiki/Conversion_rate_optimization