Everything you need to know about conversion rate optimization
Conversion rate optimization, everyone seems to be talking about it, but not many people are telling you what you need to know to reach your customers and increase the success of your marketing campaign. Learn why your conversion rate matters and how you can practice conversion rate optimization like a pro.
Why every business needs a CRO strategy
Your conversion rate is a crucial piece of data for running your business. It tells you how successful your marketing efforts are and how well you’re targeting your ideal customers. If your conversion rate is too low, it’s a big signal that something is wrong. In other words, your conversion rate is an easy number to look at when measuring the success of your business.
What is a conversion rate?
The answer to this will depend on your conversion goal. Are you looking for sales, subscribers, or survey responses? A conversion is when you successfully meet a goal, and your goal will depend on the objectives of your business or website. For example, if you own an eCommerce site, your conversion rate would be the number of sales you make divided by the number of website visitors you have. If you made two sales for every 100 visitors, your conversion rate would be 2%.
Your conversion rate is also closely tied to your call to action. A call to action is just a prompt that pushes your visitor towards your desired action. It’s a crucial factor in your conversion rate, and it should match your conversion goal. If you want to make sales, you need to make it as straightforward as possible for your potential customer to make it to the sales page or feel convinced that they should buy from you after consuming your content.
What is an optimal conversion rate?
Like most things with conversion rates, it depends on the specifics of your business. Generally, an eCommerce site has an average conversion rate of around 2%, and food order websites should have an average conversion rate anywhere from 7% to 10%. But don’t use these numbers as hard-fast rules for what your conversion rate should be.
A good conversion rate is a profitable one — it’s that simple. If you calculate the costs of attaining visitors and the money you make from conversions, you should, at a minimum, be making a profit. That means you can afford a lower conversion rate if your conversion brings you more profit.
Know the ins and outs of your conversion funnel
The best way to tackle conversion optimization is to consider the multiple avenues where customers can convert. Are you looking at your landing page, emails, ads, and website? You’ll find that each of these will have varying conversion rates and levels of success. Conversion optimization will require you to narrow down your target audience for each of these avenues.
Ask yourself the following questions:
Who is my landing page for? Is it just new customers?
Who am I sending emails to, and how do my conversions change when I use a different target audience?
Who is my most profitable target customer?
Where do my ads convert best?
As with most things in marketing, it’s all about being in the right place, at the right time, with the right message. If this sounds like a game of chance, that’s because it can be. But you can optimize your chances for success, and as you increase your exposure and optimize your content for your ideal customer, your conversions will also grow.
Think of this example. Your chances of being struck by lightning are extremely low. But if you were to stand in an open field during a thunderstorm, pointing your hands straight into the air, you’re chances of being struck would increase. Digital marketing is similar in a lot of ways. You put yourself in the ideal place during the right times and do everything you can to increase your chances of being struck with a conversion.
Powerful ways to increase your conversions
Now that you have a basic understanding of why conversions matter and what matters for your conversions, it’s time to dive into the ways you can increase conversions for your business. Here are some of the most important things you can do to increase your chances for success.
Add social proof
Social proof relies on the concept that people will follow the masses. Adding social proof to your marketing means many different things. You can accomplish this by reaching out to influencers your target market trusts, including reviews and testimonials on your website, and word of mouth. I cannot overstate the importance of social proof in gaining the trust of potential customers.
56% of customers read at least four reviews before deciding to buy a product. That means adding social proof to your marketing strategy is critical to your success in increasing your conversions and maximizing the success of your business.
Personalization and automation in your marketing strategy
Personalization in your marketing strategy requires you to dive into who your customer is and understand what your customer experience is like. You need to know your customers’ interests, age, location, where they hang out (online and in-person), and who they trust. Knowing this information is crucial for crafting the perfect ads and perfecting your website optimization for your ideal customer. For the best customer experience, you want them to feel like your content was made for them.
Personalizing is a near-impossible task as you start increasing your website traffic. This is where automation comes in. You can automate your sales funnel, passively pushing customers towards a potential conversion, and using critical bits of information to make your message feel personal, instead of feeling mass-marketed.
Masterly Business — conversion rate optimization services
Conversion rate optimization isn’t easy, and there are many places where it can go wrong. Masterly Business is your solution to conversion rate optimization, using cutting-edge AI, marketing automation, and data analytics to make your digital marketing successful. We can take care of your marketing campaign from top to bottom, finding the right time, place, and message to reach your customers and increase your conversions guaranteed. Schedule a free call to learn more about what we can do for you and get in touch with a CRO specialist today.