Dummies Guide to Conversion Rate Optimization
Want more income per guests, secure more clients, and develop your business? Conversion Rate Optimization is the way to go. In this blog, I will cover the topics on what a conversion actually is, the types of conversion, conversion rate and finally conversion rate optimization.
Let’s start with what a conversion. What does it mean? It is the way of getting your guest user(one who visits your website for the first time) from the beginning act of visiting, to finally getting them to buy the product/service. In case you sell shampoos, the procedural holding of hands of the customer helping them get through the hoops of searching, finding and deciding the product until the moment they order it online is called conversion. This doesn’t have to be just for physical objects, it can even be for a newsletter they have subscribed.
Because the actions is a progressive one, Conversion can be split into two types – Micro and Macro
These are the single step conversions. The entire process of getting the user from and to the final product can be finished with just one click and this is called a micro conversion.
Macro conversion –
A macro conversion, on the other hand, takes the customer through a bunch of steps before getting them to buy the main product. This can be best represented through the conversion cycle example for a magazine:
Step 1. The user subscribes to the newsletter of the website – This indicates a MICRO conversion.
Step 2. The user downloads a free complimentary copy of e-magazine offered on the website – This indicates a MICRO conversion.
Step 3. The user finally purchases the subscription to the online magazine – This indicates a MACRO conversion.
A step by step reeling in the customer to get him to purchase is what this is all about.
Now let’s look into the Conversion rate
I’ve just started a cosmetic retail store. As an early bird offer, I send out 100 emails to people about my flat 40% discount rates. Out of the 100 people who received the mail, 30 people have bought the product. This means that my conversion rate is 30%. Not bad actually, not bad.
Conversion Rate Optimization
These are all the strategies and hypothesis’ you are willing to implement to get better conversion rates. Usually people tend to go with their instincts and gut feelings of they might think will work. Although not a bad thing to do, it would be less riskier if there was data to backup the claims. Enter Analytics.
Moz.com provides a detailed explanation on why this is the best way to go:
This method, also known as quantitative data analysis, gives you hard numbers behind how people actually behave on your site. Start with a solid web analytics platform, such as Google Analytics. Next, add tracking for your conversions.
Using analytics-based CRO can answer important questions about how users engage with your site. Quantitative analysis provides information like:
Where people enter your site, i.e., which webpage they land on first
Which features they engage with, i.e., where on a page or within your site do they spend their time
What channel and referrer brought them in, i.e., where they found and clicked on a link to your site
What devices and browsers they use
Who your customers are (age, demographic, and interest)
Where users abandon your conversion funnel, i.e., where or during what activity do users leave your site
All the above information will help you get a better understanding of how to market your product in the best way. Optimizing your webpage on the basis of this data will give you the biggest impact.
Read more about the other tools you can use to optimize your website in my earlier blog.