When conducting your business online, many different factors contribute to your businesses’ success. Amongst all the elements, the conversion rate is one of the key metrics you should watch. Conversion rate refers to the number of people performing the desired action on your website. The desired action could be anything from clicking on the website’s link from the search engine results page to downloading an Ebook.
CRO or conversion rate optimization is increasing the number of visitors on the website who perform the desired action. Increasing the conversion rate can help the business achieve its objective from the campaign much more effectively and efficiently.
Once you search CRO, you will find a plethora of stats on the internet, but these stats fade away at some point because CRO is much more intricate than statistics. CRO is more human-centric than you might think. It motivates the visitors and persuades them to perform the desired action.
A conversion optimization agency can be most helpful in increasing the conversation rate by focusing on the statistics. Besides, they will also take a human-centric approach.
How to Calculate Conversion Rate?
While you might have various CRM software to help you with the analytics, knowing the basic concept will not hurt.
A conversion rate is denoted by dividing the number of visitors on the website by the people who performed the desired action. After splitting, you must multiply the number by a hundred to convert the answer into a percentage. For instance, if you had five thousand visitors and only five visitors clicked on the desired link, your conversion rate is only 1 percent.
How to Grow Your CRO?
1. Gather Data
One of the leading factors in increasing the conversion rate is gathering extensive data from various sources. These KPIs must be used to form hypotheses. You must collect the data from the CRM tool or any other tools you use with your website. The data must focus on the company’s goals, performance indicators, how people interacted with the website, sales funnel, and other such factors. After collecting the data, it would be easier to form a hypothesis and identify the solutions to fix the problem.
A conversion optimization agency will gather all such data for you and form the strategies accordingly. But, since people in such agencies are experts, they will also take a human approach while following the data.
2. Experiment
Once you have identified the key performance indicators and the troubled areas from the data, you must implement different solutions. Before finalizing one solution, you must implement other possible fixes as well. Whichever solution gives you more positive results, you must implement it fully. But, it would be best if you never implemented a solution without experimenting with other feasible fixes.
3. Review
After identifying and experimenting, reviewing is essential to growing your conversion rates. CRO is not a one-time process, but rather, it is a recurring process wherein you are required to make timely changes to stay updated. So, you must keep experimenting with different techniques and continue making changes to the website for the best results.
Conversion rate optimization is a regular practice. Once you hire an agency to handle the conversion rates, they will keep updating and making changes to your websites based on the data and previous campaigns.