like a car without wheels. Both will take you nowhere.”
– Anonymous
The average website conversion rate stands at 2.35%.
At the same time, the top 25% of websites convert at least 5.31% of their website visitors into paying customers. Whereas, the top 10% have conversion rates of 11% or even more.
That’s about 5x more than the average conversion rate.
Most businesses spend thousands of dollars on their marketing efforts yet fail to achieve the desired results.
That’s because they consider “Conversion Rate Optimization” to be nothing but a waste of their valuable time and efforts.
But answer this:
“What’s the point of investing thousands of dollars in digital marketing if you fail to convert as many of your
site visitors into paying customers?”
Let’s say you own an E-Commerce store and attracted 10,000 people to your website in May.
But, what if out of those 10,000, only 2-3 people purchased your products?
So, here’s your May conversion rate would be equivalent to 0.02%.
That’s bad marketing.
These days, most businesses are so focused on attracting traffic towards websites that they often overlook their conversion rates.
You can drive gazillions of people towards your website. But, if you don’t implement the much-needed conversion rate optimization strategies to convert them into paying customers, you are probably wasting your time.
This blog post sheds light on the actual definition and meaning of conversion rate optimization. At the same time, we’ll also look at the long list of benefits of implementing conversion rate optimization tactics.
But, before we dive straight into it, let’s understand what conversion rate really is.
What is Conversion Rate?
Conversion rate refers to the percentage of your website visitors who took the desired action. This action may be anything you want your customers to take.
For instance, if your end-goal is to generate leads, then your conversion rate will be equivalent to the percentage of your website visitors who submitted the lead generation form on your landing page or website.
Or, if you want them to purchase your products, then it’ll be the percentage of your website visitors who purchased your products.
Some examples of conversion include:
- Purchasing a product
- Adding product to the cart
- Clicking a link
- Signing up for a free trial
- Downloading a lead magnet
- Subscribing to your newsletter
It can be literally any action you want your audience to take.
Here’s the formula to calculate your conversion rate:
Conversion Rate =
(Number of People Who Took the Desired Action / Total Website Visitors) x 100
If your conversion rate is equivalent to or more than the average conversion rate, then your marketing efforts are probably delivering the desired results. Your website is well-designed, easy-to-explore, and appealing to the target audience.
But a lower conversion rate is a sign of bad marketing and poor website design.
What is Conversion Rate Optimization (CRO)?
Conversion rate optimization, commonly called CRO, is the process of optimizing your website or marketing campaigns to increase the number of your website visitors that take the desired action.
Optimizing your website and marketing campaigns for conversion will help you:
- Generate more high-quality leads
- Increase revenue
- Obtain more value from your existing customers or leads
- Grow better
- Lower acquisition costs
Conversions can literally take place all over your website. That involves your services page, product page, homepage, and even about us page.
As a business, if you want to convert as many of your website visitors as you possibly can, then you need to review your website and understand what’s causing your audience to bounce off.
Right now, your audience may be bouncing off your website due to:
- Slow Page Speed
- Too Much Clutter
- Poor Navigation
- Misleading Title Tag & Meta-Description
- Low-Quality Content
- Poor UX
- Lack of Mobile-Friendliness
- No CTA to Drive Action
- And more!
Red Color, upon adding a red background to their CTA, witnessed a 2.5% increase in their conversion rate.
CloudSponge, upon revamping their outdated website design, saw a massive 33% conversion rate spike.
Walmart doubled its sales on mobile devices after realizing that a huge chunk of their traffic visited their website from mobile devices.
That being said, let’s look at the five crucial conversion rate optimization elements that you should optimize.
5 Primary Conversion Rate Optimization Elements
There’s no single conversion rate optimization strategy that’ll help you double your sales or boost your conversion rate. A successful CRO strategy is a product of reviewing the behavior of your website visitors and running multiple tests. Throughout your journey, you’ll encounter the following five Conversion Rate Optimization elements:
- Landing Page Design
- Website Copy
- Website Loading Speed
- Navigation & Site Structure
- Call-To-Action (CTA)
Let’s touch down on each of them one at a time.
Landing Page Design
The average landing page conversion rate stands at 2.35%. But, if your landing page is cluttered and poorly designed, then you’ll witness a higher bounce-off rate.
What if you are investing $2,000 each month on Google Ads yet have an extremely poor website design? In that case, no matter how brilliantly crafted your paid ads campaigns are, a huge chunk of your audience will bounce off.
From its design to website copy to CTA, every single element on your landing page should be brilliant.
Most importantly, you should ensure that it’s brilliantly crafted and your landing page visitors don’t find themselves lost.
Website Copy
“The written word is the strongest source
of power in the entire universe.”
– Gary Halbert
One of the gigantic-sized mistakes most businesses make is hiring copywriters who don’t know the importance of targeting people’s emotions.
As stated by George Gribbin, “A good copywriter should have a deep understanding of people, an insight into their audience and sympathy towards them.”
You can always flood your landing page with words. But there’s no point if those words don’t help you convert your website visitors.
Along with a good landing page design, your website copy should be brilliant. Also, you need to make sure that it targets your audience’s emotions and focuses on their pain points.
Otherwise, your landing page will be similar to thousands of those poorly optimized landing pages on the internet.
Website Loading Speed
In today’s world, if there’s one thing that people really hate, that’s waiting. People hate waiting. Your audience will simply bounce off your website if it takes more than 2-3 seconds to load.
A load time delay of a single second can reduce your website conversion rate by more than 7%. That means if your website is generating $1,000 a month, then a second’s delay can cost you nearly $70.
Nearly 1.8 billion websites exist on the world wide web. Out of them, 75% of them take more than 2 seconds to load. Make sure that your website loading sped is less than 2 seconds.
Navigation & Site Architecture
Your audience will bounce off your website if it’s extremely hard for them to navigate and explore. Your focus should be on building an outstanding experience, which will have a major impact on your conversion rate.
For instance, your website visitors should find it extremely easy to head over to your “Services” page from your homepage. If the entire process is fluid, then they will not face a hard time navigating your website.
But, if your website is unstructured, your website visitors will abandon your website without taking any action.
Call-To-Action (CTA)
What if you want your audience to subscribe to your newsletter yet don’t have a CTA in place? In that case, your website visitors will be unaware of the next step they should be taking.
Let’s say one of your potential customers lands on one of your blog posts. Not having a CTA at the right place will just confuse your audience. But, if you want to generate more leads or want your website visitors to take the desired action, you need to come up with a strong and crisp CTA. At the same time, you need to make sure that it’s positioned at the right place on your website.
ADT – a Tyco International Company, witnessed a 60% increase in their conversion rate after modifying the primary text of their CTA button.
Boost Your Conversion Rate Today!
Like we all know, revenue is the most crucial success indicator. At the same time, the second important metric is conversion rate.
If your conversion rate is low, then your audience aren’t really liking the overall experience you’re delivering. It’s a sign of bad marketing. And if that’s the case, your focus should be on pinpointing what’s wrong and optimizing your website using conversion rate optimization strategies to boost your conversion rate.
At OBT Creative, we are the conversion rate optimization experts and will guide you throughout the entire process, which involves:
- Understand Your Business Model
- Review Your Sales Funnel
- Track Your Past Metrics
- Pinpoint the Reason Behind Low Conversion Rates
- Implement Numerous Tried-And-Tested Conversion Rate Optimization Strategies
- Implement Bespoke HubSpot Solutions
- Automate Your Marketing Efforts
- And more!
So, what are you waiting for?
Reach out to the OBT Creative experts today.
