Conversion Rate Optimization and the Best Way to Calculate it in 2022

conversion rate optimization

Many emerging marketing teams invest in driving website traffic and generating new leads. However, that is just half of the battle. A business hasn’t truly gotten its desired result if it doesn’t have enough conversions. To some extent, conversion determines the success of a business. Various conversion tips show the flaws in your business and how you can work on them. To further enlighten you, this article shows what conversion rate optimization is, how to calculate it, and some tips you can consider to increase the conversion rate for your business.

What is Conversion Rate Optimization (CRO)?

conversion rate optimization

Conversion rate optimization (CRO) is the process of optimizing your site or landing page experience based on website visitor behavior to help improve the probability of the visitor taking desired actions (conversions) on the said page. Depending on the goals of the site, this conversion could be a sale, a request for a quote, or something more minor like signing up to receive marketing emails.

In today’s world, online traffic is highly inconsistent, so if you’re unable to get visitors to enter your conversion funnel in the first go, then the chances of them coming back and performing the desired action are quite low. This is nothing but an opportunity lost for your business. The best way to improve your chances and get more conversions is by running effective conversion rate optimization campaigns.

7 Elements of Conversion Rate Optimization

Conversion Rate Optimization is the process of enhancing the various features of your website to increase the conversion rate. We optimize every page (home page, landing page, service page, and more) of a website to convert potential customers into paying ones.

To increase the conversion rate of a website, here are seven elements you should consider:

  • Optimize your website to be mobile-friendly to all devices and browsers.
  • Identify and fix some common CRO issues
  • Invest in the speed of your website.
  • Create a clear call to action for users
  • Implement strategic contents
  • Reduce various distractions on your website
  • Create engaging visuals with illustrative and bold headlines.
  • Quality Content
  • Use of effective and catchy headlines
  • Simplistic Navigation – Don’t make it too complicated for users
  • Display Testimonials / Referrals
  • Create Urgency

How to Calculate Conversion Rate?

If a business owner wants to calculate their conversion rate, they can do it through a simple formula. All they have to do is to decide the total number of conversions by the number of visitors and then, multiply the result by 100 to obtain the percentage.

In other words:
Conversion rate = No. of Conversion/Total visitors × 100.

For instance, if the no. of conversions of a fashion website is 500 and it receives about 10,000 visitors for a month. You will calculate the conversion rate by dividing 10,000 by 500 and multiplying the result by 100, and the final result you’ll get will be 5%.

Conversion Optimization Tips to Take Your Conversion Rates to The Next Level

Now that we’ve read about what Conversion rate optimization is and how it is calculated, let’s move forward and read about the tips we’ve gathered to optimize your conversion rates to another level.

Collect Heatmaps

Heat maps are visual representations of data in which the values are displayed through various graphic elements. You can collect the heatmaps on your site to determine why your customers are not converting, whether they are getting distracted by a feature on your website, the reason for cart abandonment, and elements inhibiting conversion on your site.

Collect Analytics

Analytics are essential parts of CRO. They feed you various quantitative data that give you insights into your business activities. With analytics, you can get some basic information such as the source of your web visitors, the type of web browser and device they use, the web features they interact with, the section or page they spent the most time on, and many more.

To use analytics effectively for your business, ensure to collect all the vital pieces of information and analyze them to understand your weaknesses. For instance, if most of your visitors utilize mobile devices to visit your website and your site isn’t mobile-friendly, analytics can reveal the weakness after a careful study of the data provided.

Customer Surveys

Customer surveys give you feedback about a user’s experience on your website. You can use the tool to hater more vital information that can help you to improve your marketing strategy.

For example, you can conduct an abandonment survey for your customer when they are about to leave the check-out page. This gives you insights on how to improve your services for prospects and increase conversion.

Usability Tests

Usability tests reveal how people interact with various features of your website. You can gain insights into some of your website’s flaws such as poor design, user experience, and more. Usability tests can help to boost the conversion rate by obtaining vital information on your website.

Here are some tips for conducting usability tests to increase the conversion rate:

  • Keep the test short, simple, and interesting
  • Do not guide users during tests
  • Request for follow-up questions to gain more insights
  • Run a pilot test to detect flaws in the test.
  • Screen participants to avoid wasting time.
  • Recruit at most fifteen people to get accurate data about your website.

A/B Testing

A/B testing implies setting up two versions of a tool (e.g website) to determine the one with the best performance. You can utilize these tips to determine the type of website your customers prefer to use. The one with the best performance can be the final version you will set up to increase the conversion rate.

Copywriting and Psychology

Your web copies can increase or decrease the conversion rate on your website. If the copies do not consist of various SEO tactics, are not engaging with customers, and cannot compel them through a clear call-to-action, then it is not worthy to be on your website.

To avoid this scenario, you can hire professional copywriters or use AI copywriting tools like Jasper AI to handle the task for you and create an emotional but subtle atmosphere for your customers.

Optimize Your Conversion Funnel

Optimizing your conversion funnel is another essential tip to consider. From the awareness stage to the interest stage, the desire to the action stage, you have to optimize each stage to capture the interest of your consumers till they perform the desired action.

Try Different Forms of Layouts

Your website’s user interface is another critical tip to consider. You must check out the functionality of your website’s features, aesthetics, and other essential elements to aid conversion.

Change the Design/Website Usability

The visual design of your website makes the first impression on your users. If your website is aesthetic, appealing to the eye, and gives a smooth user experience, why would your customers not stay? Research reveals that about 38% of visitors stop engaging with such sites if the content or the layout of your site is unattractive. Hence, if the visual design is unappealing, you should change them.

Test Different Call-to-Action and Colors

A website without a clear and concise clear call-to-action leads customers away. As a result, you need a clear call to action to allow your customers to take your desired action and increase the conversion rate. You can test various calls to action to determine the one with the best performance on your website. Also, if the colors of your website are unappealing to the eye, customers may leave such sites for you. You can create a simple but exquisite design with attractive colors to retain visitors and increase the conversion rate.

Try Putting a Video on the Homepage

As a business owner with various competitors in the digital space, another way by which you can stand out is by uploading a video on your homepage. This video can summarize the content of your website including the details of your products and the service you offer. When customers know that you offer a particular product through your video, it can increase the conversion rate as they don’t have to scroll through your website looking for their needs.

Remove All The Distractions

Distractions can decrease the conversion rate of your website. Various web elements can reveal the cause of distractions that inhibit the conversion of a customer. To eliminate them, you can utilize heat maps or analytics to gather data on what may be the source of distraction and get rid of them adequately on your website.

Increase Page Speed

A slow page can turn customers away. Statistics revealed that about 40% of customers leave a website when its page takes about three seconds to load. To avoid this scenario, ensure that your web pages load at an optimum speed to improve the user’s experience.

Conclusion

Since the goal of many businesses is to have more sales and improve business growth, conversion rate optimization is vital to every business. Businesses cannot underestimate this metric if they intend to achieve their goals. Implement the aforementioned tips and derive the desired result.

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