Get Insights Into Conversion Rate Optimization
Date: Jun 10, 2023
Brandhype digital



A business’s online presence is more critical than ever in today’s world. Developing a loyal relationship with your target audience is essential.

The key to establishing credibility and positive relations with your target market online is conversion.

Conversion Rate Optimization: What Is It?

Conversion rate optimization (CRO) increases user engagement on a website. In this process, visitors are converted by improving website components designed for conversion and gives high conversion rate. Tests are conducted, data is analyzed, and changes are implemented to achieve desired results.

What is a conversion?

A conversion is the general term for a visitor completing a site goal. Goals come in many shapes and sizes. If you use your website to sell products, the primary goal (known as the macro-conversion) is for the user to make a purchase.  There are smaller conversions that can happen before a user completes a macro-conversion, such as signing up to receive emails. These are called micro-conversions.

Examples of conversions

Macro-conversions:

  • Purchasing a product from the site
  • Requesting a quote
  • Subscribing to a service

Examples of micro-conversions:

  • Signing up for email lists
  • Creating an account
  • Adding a product to the cart

What is a conversion rate and why it is important?

A conversion rate records the percentage of users who have completed a desired action. Conversion rates are calculated by taking the total number of users who ‘convert’ (for example, by clicking on an advertisement), dividing it by the overall size of the audience and converting that figure into a percentage.

Conversion rates are a powerful approach f comparing and contrasting the performance of multiple advertising channels. Likewise, with the model above, conversion rates are especially significant while running mobile user acquisition because they can measure the success of each campaign. They can also be used to set ROI expectations when scaling a campaign.

Conversion rates don’t always have to refer to clicks – they can also refer to conversion events further down the funnel. For instance, to calculate the percentage of users who went on to install an application or complete an in-application activity. This is significant for promoters and advertisers the same since it assists them with recognizing important clients. This data can then be taken care of once more into the funnel to aid targeting and optimize campaign performance.

When utilized accurately, transformation rate investigation can uncover which channels are best for advancing a specific application, assisting a sponsor with deciding the viability of their duplicate and use it to direct essential choices. On the off chance that your information shows that a transformation rate is lower than anticipated, they can likewise be utilized to detect issues with an application’s UX (for instance, when clients are having issues marking in) and feature different areas of progress.

There is definitely not a solitary transformation rate that can be utilized to characterize accomplishment across the versatile promoting industry, yet examination into industry benchmarks and vertical-explicit change assumptions can help. You can utilize this exploration to contrast these figures and the exhibition of your in-house promoting efforts across a choice of channels and publicists.

How to Calculate Conversion Rate

If a user can convert each time they visit the site:

Imagine we own an ecommerce site — Roger’s Robotics. A user could make a new purchase each session. We want to optimize so they make as many purchases as possible. If a user visited the site three times, that would be three sessions — and three opportunities to convert.

Let’s closer at our user’s three sessions and how they behaved:

  • Session 1: No conversion — user was familiarizing themselves with the site and poking around.
  • Session 2: User bought a shiny new antenna. This is a conversion!
  • Session 3: User came back and bought a new set of gears and a blinking light  — another conversion!  Even though they bought two items, this is a single unique order and thus counts as a single conversion.

To figure out our conversion rate, we would take the number of unique purchase orders and divide it by the total number of sessions.

If a user can only convert once

Now imagine we owned a second site — Roger’s Monthly Gear Box. Our site sells a subscription for a monthly delivery of robot parts. A user could come back multiple times, but once they purchase a subscription, they won’t convert again.

Let’s look at an example user’s behavior:

  • Session 1:  User came to the site for the first time to explore the service.  No conversion.
  • Session 2: User subscribed to our monthly GearBox service– this is our conversion!
  • Session 3: User came back to read blog articles and poke around.

Our user here can’t convert each time they visit the site. So instead of looking at the number of sessions, we need to measure conversion success by the number of visitors.

To figure out our website’s conversion rate, we would take the number of unique orders and divide it by the number of unique users.

Why improve conversion rates?

Conversion rates decline over time. Updates are essential to maintaining website effectiveness. You can keep your business relevant and competitive by optimizing conversions.

Identifying improvement opportunities through testing

Maintaining your website involves running tests to see where it stands. You can optimize your conversion rate by conducting routine tests on your website. Here are some tests to conduct:

  1. A/B Testing

    By creating two nearly identical landing pages, the A/B testing determines which elements need to be improved. There will be no changes to the first page. A single aspect will be changed on the second page.

    A difference in conversions should be noted if one of the pages performs better than the other. A/B testing should continue if the conversion rate does not change.

  2. Multivariate Tests

    Multivariate tests are most effective for sites with a high traffic volume and consistent visitors. The test involves testing multiple variables simultaneously. Adjusting the website will follow the pattern of a particular combination of variables that converts better.

  3. Conversion Improvement Opportunities: Tools for Improvement

    Tests can sometimes be more helpful, but tools can give a clearer picture of traffic patterns overall. They help you to better understand how visitors use your website. Let’s explore these:

  4. Tools For General Analytics

    To know how your site is doing, you don’t have to rely on conversion rates alone. Your website’s daily traffic can be determined by general analytics.

  5. The Heat Map Tool

    A heat map shows which parts of your website or landing page visitors tend to use most often. By analyzing all page movements, from scrolling to clicking, you can see what your website visitors generally do while browsing.

  6. Tools to Create Funnels

    Your funnel tools can help you determine where your visitors leave your website. It allows you to examine where visitors leave after the first page without even browsing or if they give up once they have placed an order.

    Identifying where visitors leave will tell you where your site has the most problems.

  7. Tools for Form Analysis

    You can track information left behind by users if you have form submissions on your website. By analyzing the data, it’s easier to find out who uses the forms, why, and their general browsing habits.

  8. Conversion Tracking and Analysis Tools

    Conversion tracking tools determine how many visitors convert to buyers on your site when you’re trying to monitor conversions. You can determine the effectiveness of your website by comparing the number of visitors and conversions.

    Struggling to optimize your conversion rate? Hire Brandhype, the best digital marketing agency in Gurgaon to get optimal results!

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