Conversion rate optimisation or CRO is the process of increasing the percentage of visitors who perform a specific action (conversion) on a website. The desired action could be filling out a form, clicking upon a link, purchasing a product or adding a product to the shopping cart. CRO is achieved through optimising your website or landing pages, based upon the behavior of your website visitors. The site journey your customers go through upon arriving at your website needs to be smooth flowing, providing them with the best possible experience.
We will be discussing how to calculate your website's CRO, conversion rate analysis, setting your conversion goals, developing your CRO plan and some of the eCommerce CRO strategies you can implement.
The CRO is the percentage of website visitors who complete the desired action. Having a high conversion rate tells you that your website is working wonderfully, in that it is well designed and appealing to your target audience. A low conversion rate could mean that your website design is poor, it has copy that doesn't tell customers the value of your offerings, it has broken links or slow loading times.
Conversion rates do vary among industries and what you consider a good conversion rate will depend upon the industry and niche you are targeting, where you get your website traffic from and who your target audience is. As an example, the average eCommerce conversion rate is between 2.5 to 3%, though specific eCommerce industries do vary, such as arts and crafts with 4.91% grocery websites with 6.8%, health and beauty with 3.9% and luxury with 1.1%.
To find out what your conversion rates are, you will need to break things down into specific desired actions and where they occur. Then you calculate the conversion rate by dividing the number of conversions by the number of visitors, then multiplying that number by 100 to get a percentage. For example, if your conversion rate is the number of people who make a purchase (10) after adding a product to their cart (50), your calculation would be 10 orders divided by 50 cart additions multiplied by 100, equals 20% conversion rate.
Once your conversion rates are known, you will want to dive into understanding why they are like they are and how you can optimise things further. Therefore, you will need to use one or both of the two main types of CRO analysis: quantitative and qualitative.
Combining both types of analysis will give you the best answers, ensuring you are ready to set your CRO goals and select the most appropriate CRO eCommerce strategies.
By creating and setting your CRO goals, you will be best placed to develop your CRO strategy. A conversion goal is the measurable outcome for any specific page on your website that you want to optimise. By being measurable, you will be able to track the success of your goal and implement the website changes needed to achieve your goals.
There is a three step process you can follow to set your conversion goals:
Common eCommerce website conversion rate goals include:
To be well placed and ready to develop your CRO plan, you first need to clearly understand the answers to three specific questions:
What drives people get to your website?
Why do people visit your website? You are doing something right, because you have traffic! The key is to know more about why they are visiting so you can keep on replicating it, or to tweak it if it isn't working. This means diving in and learning if it is your SEO, social media posting, referrals from other websites, paid advertising, word of mouth, landing pages, specific ad campaigns, an email newsletter or printed marketing materials. Using your analytical tools, identify what people do when they arrive not just at your website, but what they do when arriving on each page.
As well as why they come to your website, you need to know who is coming to your website. Hopefully they are your target audience, but you need to check this as your website may be attracting a different buyer persona.
What stops your website visitors from converting?
When someone is on your website, what stops them from converting? You can use your website analytics data to help you identify this. This means taking a look at what visitors do upon arrival, the common arrival pages, if there are any barriers to them achieving your conversion goals, how they travel through your website funnel and where on a page do they drop off?
What makes visitors act when on your website?
What specific things on your website encourage and persuade the visitor to convert? On pages with higher conversion rates, what things are present that are not on other pages? Is there specific calls to action which are more effective than others? A customer survey could help gather answers to this question.
The CRO strategies you use will depend upon the specific conversions you are wanting to optimise. Some are page or location specific, while others can be used in multiple areas. Here are a list of CRO strategies to consider using:
CRO is a huge topic and we've only touched a small part of it. We do have a large number of website resource articles available in our blog which can assist you further and encourage you to explore them regularly.
Posted: Friday 29 July 2022