In 2004, internet marketers started using the tools to experiment with website design and content variations to determine which layouts, copy text, offers, and images work well. With the introduction of Google Website Optimizer in 2007, this optimization trend accelerated.
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Table of Contents
What is Conversion Rate Optimization?
How to calculate the Conversion Rate of a Website/application?
What are the Benefits of Conversion Rates Optimization?
Case Studies on Conversion Rate Optimization
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What is Conversion Rate Optimization?
CRO (conversion rate optimization is the process of increasing the percentage of conversion on a website or mobile application. It is a practice in which the users perform a desired action on a website. This action includes but is not limited to placing an order, adding an item to a cart, clicking a button, clicking on any hyperlink, signing up on a website or app, filling out the form, requesting a callback, etc.
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Let’s see the conversion rate journey of a visitor on any website. The visitor passes through an invisible funnel till the time he makes a call to action decision.
Here we can see that the sale is 1 in the first funnel and this increases to 8 nos. In the second funnel. Therefore we can say that the sales conversion has increased by 800%. So, the actual action taken on your site is the conversion rate. And marketers always try to optimize this conversion through various tools and techniques.
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How to calculate the Conversion Rate of a Website/application?
Conversion Rate= Total Conversion (action on site)/Total Number of Visitors on site x 100
Suppose your website has 100 visitors, from which 20 have clicked on some call to action buttons like purchases, form fill, sign up, etc. Therefore your conversion rate is 20/100 x 100= 20%.
What are the Benefits of Conversion Rates Optimization?
Conversion rate optimization is very important for any online marketer. CRO helps you to acquire visitors who are already interested in your product or services.
This reduces your cost of extra promotion through various social media channels.
Focusing on optimizing your conversion rate will help you to maintain your existing customers and keep on retargeting them for future offers.
Conversion rate optimization can also help you to acquire loyal customers, rather than targeting a new customer every time.
CRO helps you to understand your visitor's requirements, understanding what drives, stops, and persuades your visitors, so you can give them the best user experience possible and get the maximum conversion.
Case Studies on Conversion Rate Optimization
Understanding the CRO in detail, you must be wondering if this works effectively for the business and what changes a marketer can do on his website or applications to optimize its conversion rate. So here we will discuss some real case studies on how optimization works in increasing conversion.
1. Case Study of 37Signals (Now Basecamp), Adding a human image increases the sign-ups by 102%.
A project management website, in order to optimize their website they tried various techniques, and at last they added an image of a woman smiling. This addition of a human image on their website has increased sign-ups by 102%.
2. Case Study of Nature Air, Changing the Location of the CTA (Call to Action button) increases the conversion by 591%
Giving a good offer to the visitor is important for any action to take place, but the location where it is being displayed is also very important. It should be visible and at the same time should not disturb the user on the website.
3. Case Study for Voices.com, Website updates increases the conversion by 400%
The team at Conversion Rate Experts created 11 experiments for Voices.com targeting various stages of their sales funnel, and they made three changes to the website.
- They added logos of previous clients to instill trust in prospects.
- They created two different CTAs to segment their audience based on their two primary buyer personas.
- They also added a useful video to eliminate confusion over how the service worked.
4. Case Study with Basekit, Page redesign increases conversion by 25%
The company’s original pricing page wasn’t performing well, so the company decided to redesign its pricing page which resulted in a 25% increase in conversion rate.
5. Case study of Performable (now HubSpot), Changing the CTA Button Color Increases Conversions by 21%
Different colors give different emotions, the company here tries to change the CTA button color, keeping the copy the same. This helped them to increase conversion by 21%.
6. Case Study of L’Axelle, Making Copy Action Oriented Causes 93% More People to Click
The company wanted more people to add time to their cart, so they changed the copy to make it action-oriented.
7. Case study of Intuit, Implementing Live Chat Improves Conversion Rates by 211%
Intuit added a live chat button to several areas on its website to better serve its customers. This boosted their average order value by 43% and Implementing live chat on a product comparison page increased sales by 211%.
8. Case Study for CloudSponge, Updated Design Increases Conversions 33%
An interesting design for your website is also important to bind your visitors. Updating the website design has increased conversion by 33%.
9. Case Study of The Weather Channel, clear homepage Helps Weather Channel Increase Conversions by 225%
The weather channel wanted to convert the visitors into premium subscribers, so they simplified their homepage design and copy, decluttered the page, and made it a single action page.
10. Case Study of Kaya Skin Clinic, Improving Generic Form Copy Boosts Sales by 22%
Kaya Skin Clinic is a beauty clinic. They wanted to increase their online appointment booking and increase sales. changing the form copy from a generic consultation to an “expert opinion” increased conversions by 137.5%, which resulted in a 22% rise in sales. If a marketer or a company is good at analyzing the demand, trends, and interest of its visitors, they can easily convert the visitors to customers, by making them pass the funnel which we have explained in this article above. Using online ads, SEO techniques, etc. is useful but if you are able to identify the real interest of your prospective customers you will be able to track and convert them in-house without spending much on the other social media platform.
What is conversion rate optimization?
Conversion rate optimization (CRO) is the process of increasing the percentage of conversions from a website or mobile app.
How do you do conversion rate optimization?
As we mentioned earlier, to calculate the conversion rate, you must divide your total conversions (or actions generated) by the total number of visitors (or web traffic), and then multiply that number by 100 to get the percentage.
What is an example of conversion rate optimization?
A few examples are reduced page loading time, shorten checkout funnel, position and wording of CTAs, integration of customer reviews, create sales promotions.
What are CRO and SEO?
CRO is conversion rate optimization, whereas SEO is search engine optimization.
How does increasing CRO help you?
A good CRO helps the marketer in many ways, increasing sales, sign-ups, increased revenue, etc.
Why do companies use CRO?
CRO is done by an expert, who can use different CRO techniques on the project to project basis This eliminates the need to hire full-time staff to complete the project.