In this post we are going to learn about the next step in seo which is called conversion rate optimization or CRO.
Tell me – What good is traffic to your website if that website is not converting into sales or inquiry.
In online marketing, the process by which the more and more visitors to a website are converted into customers is called as conversion optimization. As normal analytics, conversion optimization includes analysing the data associated with a website. These data can be visits to a website, bounce rate of landing page, card abandonment rate, navigation behaviour of the visitors etc. In this article I am going to give few useful statistics associated with online marketing and few tips for conversion optimization. The whole article I have divided into two parts for ease of readers. The part 1 mainly deals with various conversion factors used worldwide. The data used in both the parts is from a case study carried out by http://www.redeye.com.
Marketing has always been an unpredictable experiment. Unless and until you have not run any campaign, you will never know the output that the campaign will generate. So conversion to a website can be increased by segmentation of data and testing.
The definition of conversion varies from company to company and marketer to marketer. Some popular ways to measure conversion are:
* Total number of sales divided by the total number of visits to a website.
* Total number of actions performed on a website (like subscription, clicks etc.) divided by the number of visits.
* Total number of sales divided by the total number of leads
* Total number of sales divided by the number of visitors coming to landing page
Out of these methods, the first one (number of sales/ number of visits) is the most popular formula for measuring conversion and is followed by 58% of the companies worldwide.
Most of the big companies have proper definition of conversion for their product / service. Still according to a survey, 5% of the total big companies worldwide do not use conversion optimization techniques.
Another factor which can play a major role in conversion is identifying the key-performance indicators. 38% of the market professionals feel that identifying KPIs can help a lot in optimizing a website. Similarly, 26% of them consider optimizing the call to action buttons for more conversion. In a nutshell, marketers around the globe mainly stress on five tactics to improve conversion