Today, most marketing teams are focused on driving traffic toward web sites in hopes that this traffic then converts into qualified leads for sales reps to shut. But that is only half the battle.
Getting more out of existing traffic and leads (versus entirely recent traffic) can propel firms toward long-term, sustainable growth. That is where conversion rate optimization (CRO) is available in.
On this guide, you may learn in regards to the power of CRO, why what you are promoting should deal with improving your conversion rate, and methods to start.
What’s conversion rate optimization?
Conversion rate optimization, or CRO, is the strategy of increasing the proportion of users or website visitors who complete a selected motion to extend the variety of leads you generate.
CRO is achieved through content enhancements, split testing, and workflow improvements. Conversion rate optimization leads to highly-qualified leads, increased revenue, and lower acquisition costs.
What’s a conversion rate?
A conversion rate is the proportion of tourists who complete a desired motion, like completing an online form, signing up for a service, or purchasing a product.
A high conversion rate means your website is well-designed, formatted effectively, and appealing to your audience. A low conversion rate may very well be the results of a wide range of aspects related to either website performance or design.
Slow load times, a broken form, or copy that doesn’t convey the worth of the offer are common reasons for a poor conversion rate.
What’s conversion rate?
A “good” conversion rate is dependent upon your industry, area of interest, goals, traffic channel, and audience demographics, amongst other aspects.
Within the second quarter of 2022, 2.3% of visits to e-commerce web sites in america converted to purchases. Nonetheless, online shopper conversion rates in Great Britain rose to over 4%.
In case your conversion rate is lower than you need — possibly it’s below average in your industry, or lower than your top competitors, or just underperforming against your personal goals — then it is time to optimize.
Conversions can occur throughout your website: in your homepage, pricing page, blog, landing pages, and more. To maximise the potential of converting website visitors into paying customers, you need to optimize each location.
Before we take a have a look at the advantages of CRO, let’s walk through methods to calculate your site’s conversion rate.
That way, you’ll need a greater understanding of how much time and resources to take a position in a CRO strategy.
Easy methods to Calculate Conversion Rate
Conversion rate is calculated by dividing the variety of conversions by the number of tourists and multiplying that number by 100 to get a percentage.
So long as you recognize the way you’re defining a conversion, then calculating your conversion rate is straightforward. You simply plug in two values and multiply by 100.
For instance you are defining a conversion as a newsletter opt-in, and you have got an opt-in form on each page of your website.
In that case, you’d divide the entire variety of newsletter form submissions by the entire variety of website visitors and multiply it by 100. So if you happen to had 500 submissions and 20,000 visitors last quarter, then your conversion rate can be 2.5%.
You may repeat this process for each conversion opportunity in your site. Just make certain to only count the number of tourists on the webpages where the offer is listed.
For instance, if you ought to calculate the conversion rate of your ebook offer, you then’d divide the entire variety of downloads by the number of people that visited web pages where the ebook offer is listed.
Alternatively, you possibly can calculate your website’s overall conversion rate by dividing the entire variety of conversions for each conversion opportunity in your site by the entire number of tourists in your site.
CRO and search engine marketing
SEO is the strategy of improving your website’s visibility on search engine results pages (SERPs) to be able to boost organic traffic and sales.
And as mentioned before, CRO focuses on improving your website’s performance to show visitors into customers and boost conversions. Each CRO and search engine marketing have the tip goal of accelerating sales — just different approaches.
Ultimately, you set your brand up for fulfillment once you optimize your website to be more visible on popular search platforms and once you improve your website’s functionality to encourage conversions.
Where to Implement a CRO Strategy
Listed below are 4 areas of your website which have the potential to largely profit from conversion rate optimization.
Homepages are prime candidates for CRO. Along with making a primary impression on visitors, the homepage can also be a possibility to retain those visitors and guide them further into your website.
You may do that by emphasizing links to product information, offering a free signup button, and even incorporating a chatbot that solicits questions from visitors at any point during their browsing experience.
2. Pricing Page
A web site’s pricing page will be the make-or-break point for a lot of website visitors.
CRO might help a pricing page convert visitors into customers by modifying the pricing intervals (e.g. price-per-year vs. price-per-month), describing the product features related to each price, including a phone number for visitors to call for a price quote, or adding an easy pop-up form.
Hotjar, for instance, added an easy email opt-in popup form on its pricing page and got over 400 new leads in just three weeks.
A blog is a large conversion opportunity for an internet site. Along with publishing thoughtful and helpful content about your industry, a blog can use CRO to convert readers into leads.
This process often includes adding calls-to-action (CTA) throughout an article or inviting readers to learn more a couple of topic by submitting their email address in exchange for an ebook or industry report.
4. Landing Pages
Since landing pages are inherently designed for people to take an motion, it is smart that they’ve the highest average conversion rate of all signup forms at 23%.
An event landing page, for instance, will be optimized with a video of last yr’s event to encourage visitors to register this yr. A landing page that is offering a free resource will be optimized with preview content from that resource to encourage visitors to download it.
Now that you recognize where you possibly can optimize for conversions, it’s possible you’ll be wondering how you recognize when what you are promoting is prepared to start out the method.
The short answer: CRO is essential for any business online. That is because, regardless of how established or large your organization is, you ought to convert your website visitors into qualified leads, customers, and brand advocates — and you ought to achieve this in essentially the most effective, impactful, and reliable way.
With conversion rate optimization, you will get more out of your existing website traffic while ensuring you are targeting qualified leads.
Although this is an easy concept, setting a conversion goal is not as easy as saying, “This page converted 50 people this month, so we would like to convert 100 people next month.”
Featured resource: 8-Week Conversion Rate Optimization Planner
You do not just want 50 more conversions from a webpage. As a substitute, you wish 50 more conversions for each X amount of people that visit it. (That is your conversion rate — the proportion of people that convert in your website based on how many individuals have touched it).
To offer a greater understanding of where you stand at any cut-off date in regard to conversion rate, listed here are three commonly-used formulas what you are promoting can use to grasp, analyze, and improve.
CRO Calculation 1: Conversion Rate
As we mentioned earlier, to calculate conversion rate, you need to divide your variety of conversions (or leads generated) by your number of tourists (or web traffic), after which multiply that number by 100 to get the proportion.
Leads Generated ÷ Website Traffic x 100 = Conversion Rate %
CRO Calculation 2: Variety of Net Latest Customers
To calculate your variety of net recent customers, you will need to divide your net revenue goal by your average sales price.
Latest Revenue Goal ÷ Average Sales Price = Variety of Latest Customers
CRO Calculation 3: Lead Goal
And lastly, to calculate your lead goal, take your number of recent customers and divide it by your lead-to-customer close rate (which is your total variety of leads divided by total number of consumers) percentage.
Variety of Latest Customers ÷ Lead-to-Customer Close Rate % = Lead Goal
Here’s an example of those formulas in motion:
In case your website has 10,000 visitors per 30 days that generate 100 leads — and subsequently, 10 customers every month — the web site visitor-to-lead conversion rate can be 1%.
What if you happen to desired to generate 20 customers every month?
You can attempt to get 20,000 visitors to your website and hope that the standard of your traffic doesn’t decrease — although, that is a risk you will likely need to avoid.
Reasonably, you possibly can obtain more leads out of your existing traffic by optimizing your conversion rate. That is less dangerous and is more more likely to produce higher results on your bottom line.
As an example, if you happen to increase your conversion rate from 1% to 2%, you’d double your leads and your customers. The next table is proof of this — you possibly can see the positive impact that results from increasing your website’s conversion rate:
Monthly Site Traffic
Notice the drastic increases within the variety of leads generated and net recent customers once you boost your conversion rate.
Not only that, nevertheless it’s clear that generating more website traffic is not necessarily the precise approach when attempting to improve your conversion rate — the truth is, this chart shows you you can grow what you are promoting substantially without increasing traffic in any respect.
Hard to consider? Take into consideration this manner: Pretend you were attempting to replenish a leaky bucket. If you happen to pour more water into the bucket, you will not fix the foundation reason for the problem — as an alternative, you may find yourself with quite a lot of water that is wasted (not to say, a bucket that can never replenish all the way in which).
Are you able to take the primary steps toward CRO at your organization? Review the strategies below and begin experimenting.
Conversion Rate Optimization Strategies
Listed below are some applicable conversion rate optimization marketing strategies to check and implement at your organization.
1. Create text-based CTAs inside blog posts.
While it’s considered a best practice to incorporate CTAs in a blog post, they generally fail to entice visitors to take your required plan of action. Why?
Banner blindness is an actual phenomenon related to people becoming accustomed to ignoring banner-like information on web sites. This lack of attention coupled with the very fact site visitors don’t all the time read all of the solution to the underside of a blog post (somewhat, they “snack” on content), means a distinct approach is required.
That is where the text-based CTA turns out to be useful. Here at HubSpot, we ran a test with text-based CTAs — a standalone line of text linked to a landing page and styled as an H3 or an H4 — to see in the event that they would convert more traffic into leads than regular CTAs situated at the underside of an online page.
In HubSpot’s limited test of 10 blog posts, regular end-of-post banner CTAs contributed a mean of just 6% of leads that the blog posts generated, whereas as much as 93% of a post’s leads got here from the anchor-text CTA alone.
2. Add lead flows in your blog.
A lead flow is one other conversion rate optimization element you possibly can include in your site. Lead flows are high-converting pop-ups designed to draw attention and offer value.
You may select from a slide-in box, drop-down banner, or pop-up box, depending in your offer. We experimented with the slide-in box on the HubSpot Blog back in 2016 and it achieved a 192% higher clickthrough rate and 27% more submissions than an everyday CTA at the underside of a blog post.
3. Run tests in your landing pages.
Landing pages are a vital a part of the trendy marketer’s toolkit and, as mentioned earlier, integral to conversion rate optimization.
That is because a landing page is where an internet site visitor becomes a lead or an existing lead engages more deeply along with your brand. To optimize a landing page, run A/B tests to discover your best design and content features for audience members.
As an example, with A/B testing you possibly can quickly and simply test different versions of your website copy, content offers, images, form questions, and web pages to find out what your audience and leads reply to best. You would possibly see that a page or a form is too long and hinders conversions.
Because of A/B testing, China Expat Health was in a position to increase their lead conversion rate by 79%. One of the vital impactful changes was swapping out the headline “Health Insurance in China” for “Save As much as 32% on Your Health Insurance in China,” which immediately conveyed a worth proposition to visitors. This proposition was then supported by customer testimonials.
Get every part that you must start effectively A/B Testing your website today.
4. Help leads develop into MQLs.
Sometimes visitors need to get right right down to business, skip parts of the everyday buyer’s journey, and immediately speak with a sales rep (somewhat than be nurtured).
There are specific actions you need to encourage these high-intent visitors to finish so that they can easily develop into marketing qualified leads (MQLs) — and so they can take motion through a mixture of thoughtfully designed web pages, compelling and clear copy, and smart CTAs.
As an example, at HubSpot, we discovered that visitors who enroll for product demos convert at higher rates than visitors who enroll free of charge product trials. So, we optimized our website and conversion paths for people booking demos or meetings with a sales rep.
Admittedly, this is dependent upon your product and sales process, but our greatest advice is to run a series of tests to search out out what generates essentially the most customers. Then, optimize for that process. The important thing here is to look for methods to remove friction out of your sales process.
5. Construct workflows to enable your team.
There are plenty of automated workflows you possibly can create to enable your team with the assistance of promoting automation software.
For instance, with marketing automation, it’s possible to send automatic emails with workflows. Then, leads can book meetings with reps in a single click. Meanwhile, reps receive notifications when leads take high-intent actions similar to view the pricing page in your website.
Or, if you happen to work in ecommerce, you possibly can send an email to individuals who abandon their shopping cart as a reminder.
In accordance with research from Moosend, abandoned cart emails will be very effective. They’ve a high open rate of 45%. Of the emails which can be opened, 21% are clicked. Half of the individuals who clicked make a purchase order.
Here’s an example of an abandoned cart email by the Dollar Shave Club.
6. Add messages to high-converting web pages.
Use live chat software to talk along with your website visitors in real time and offer support and guidance as needed.
To extend conversions, add these messaging features to your high-performing web pages — similar to your pricing and product pages — so leads get the data they need in real-time.
You too can make your messaging and chatbots action-based. For instance, if someone has spent greater than a minute on the page, it’s possible you’ll need to robotically offer to assist and answer any questions they could have (again, a live chat tool, like HubSpot, makes this easy).
7. Optimize high-performing blog posts.
Again, publishing blog articles opens the door to a giant opportunity for conversions. Much more so if you happen to have already got existing blog content in your site — the truth is, at HubSpot, nearly all of our monthly blog views and leads come from posts published over a month ago.
To start optimizing your blog content, discover your posts with the best levels of web traffic but low conversion rates. (Possible causes of this issue could also be related to search engine marketing, the content offer you might be promoting, or your CTA.)
In a single instance, we at HubSpot added an inbound press release template offer to a blog post about press releases — consequently, we saw conversions for that post increase by 240%.
Moreover, have a look at your blog posts with high conversion rates. You would like to drive more qualified website traffic to those posts and you possibly can achieve this by optimizing the content for the search engine results page (SERP) or updating it as needed to make sure it’s fresh and relevant.
8. Leverage retargeting to re-engage website visitors.
It doesn’t matter what your key conversion metric is: The cold, hard truth is that the majority people in your website don’t take the motion you wish them to. By leveraging retargeting on Facebook and other platforms, you possibly can re-engage individuals who left your website.
Retargeting works by tracking visitors to your website and serving them online ads as they visit other sites around the online. This is especially impactful once you retarget individuals who visited your highest-converting web pages.
The traditional inbound rules still apply here — you would like well-crafted copy, engaging visuals, and a compelling offer for retargeting to work.
Take United’s retargeting campaign for instance. Using insights from previous ad campaigns, United focused on reaching individuals who had viewed their ads and were already considering booking a vacation. To this select audience, they promoted a 15-second video ending in a call-to-action.
If viewers felt inspired enough to book their vacation, all they’d to do was click on the CTA to be taken straight to the United website.
This proved to be an enormous success. In only one month, 52% of conversions attributed to YouTube were click-through conversions directly from the ad.
(If you happen to’re a HubSpot customer, take a have a look at how the AdRoll integration can improve your conversion efforts.)
Now, let’s discuss how you possibly can start with CRO at your organization.
Expert Suggestions: Easy methods to Improve Conversion Rate Optimization
HubSpot’s Content Growth Team Manager Pamela Bumphas some helpful suggestions marketers should know to spice up conversion rate optimization.
For one, marketers should leverage heat mapping.
“Reap the benefits of a heat mapping and scroll mapping tool to get a greater understanding of user behavior in your web pages,” she said. “These tools can provide insights that allow you to discover optimization and testing opportunities.”
Speaking of tests, Hinton says to base your tests on insights and not hunches.
“Past experiments, user research, chat transcripts, and website/conversion analytics are all great sources for helpful insights that might inform future, successful tests.
And remember A/B testing won’t let you know the “why” behind visitors’ behaviors.
“Consider supplementing your CRO test data with qualitative user testing if you happen to’re trying to grasp visitors’ comprehension of your content,” Hinton said, “or their motivations for converting (or not converting).”
Marketers must also be mobile-first in relation to web content.
“Keep chunks of copy transient and consider how content renders in a different way on mobile devices when designing pages,” Hinton suggests.
And while it’s good to be knowledgeable about CRO best practices, Hinton says it is important to keep in mind that what works for one business may not work for all.
Easy methods to Get Began with Conversion Rate Optimization (CRO)
Possibly you are wondering, “Where do I start with CRO?”
Enter: PIE framework. Before starting a CRO project, prioritize your efforts by rating each element on Potential, Importance, and Ease.
Use the PIE framework to reply the next questions for each strategy outlined within the previous section. Then, assign a rating between one and 10 (one being the bottom and 10 being the best) to every strategy.
- How much total improvement can this project offer?
- How helpful will this improvement be?
- How complicated or difficult will or not it’s to implement this improvement?
Once you have assigned a rating for every strategy, add up the numbers and divide the entire by three — this provides a rating that shows what project could have the best impact. Then, work on the projects with the best scores first.
The PIE framework is not perfect, nevertheless it’s easy to grasp, systematic, and offers a start line for CRO collaboration and communication amongst colleagues.
We have covered so much about conversion rate optimization, but not every part. If you happen to still have questions, then take a look at the answers to a number of the most steadily asked questions below.
What’s the purpose of conversion rate optimization?
The aim of conversion rate optimization (CRO) is to enhance the likelihood of tourists taking a desired motion on a webpage.
What’s a CRO strategy?
A CRO strategy is designed to convert more of your visitors into paying customers.
While each CRO strategy will vary company by company, the final steps is not going to. You’ve got to discover key metrics and your audience. Then you have got to gather user feedback and other data to choose what you’re going to check.
Finally, you’ll run A/B tests to enhance different pages and parts of your site for conversion.
What are CRO tools?
CRO tools are designed to simplify or automate the strategy of optimizing your conversion rate. They could help with lead capture, research, analytics, mouse tracking and warmth maps, feedback, or running experiments.
Begin Using CRO
There are various best practices on the market in relation to CRO but, ultimately, that you must discover what your customers reply to, and what drives results for what you are promoting.
Keep these three follow-up actions in mind when getting began with CRO today:
- Use the three formulas to start out the CRO conversation.
- Experiment with CRO strategies to find what works for what you are promoting.
- Leverage the PIE framework to assist prioritize your strategy.
Editor’s note: This post was originally published in January 2019 and has been updated for comprehensiveness.