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What is Conversion Rate Optimization and Why is it Important?

Dec 10, 2015 2:05:33 PM  |  BY: Grant Thomas

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What is a Conversion?

Before we go into conversion rate optimization, let’s first determine what a conversion is. A conversion is when a website visitor takes a desired action that you want them to take.

Conversions are, but not limited to:

  • Social Like, Share, or Follow: Social channels are an effective way to market to a large number of people. Keep in mind that this is more of an indirect channel and therefore tends to convert at a lower rate.
  • An Email Opt-In: Email still remains the most effective channel for directly marketing to leads and customers. Email has a 4X higher conversion rate than that of social channels. (Source) Aside from getting a sale, acquiring an email address should be your top goal.
  • Form Submission: Driving visitors to fill out a form provides you with more lead information so you can more accurately market to these leads. Since forms require more time and effort, you’ll likely see a lower number of form submissions. This is a great way to qualify leads as higher value.
  • The Much Desired Sales Conversion: This, of course, is the end goal for any online retailer. Your shopper turns into a customer by completing a purchase.



What is Conversion Rate Optimization?

Conversion rate optimization is…

  • the ongoing process of improving the performance of your website in order to get the most out of your traffic.
  • A systematic approach to driving your website visitors to take a desired action.
  • Defining key website objectives, collecting relevant data that relates to your objectives, and gathering feedback.
  • Making decisions based on your objectives, data analysis, and feedback that lead to better conversion results

 

 

Why Should I Optimize for Conversions?

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Acquire More Leads and Customers

Optimizing your site for conversions will lead to more new leads and customers because your website experience will be optimized to gather visitor information and close sales. This approach will also set your business up for success over the long run because you will have more contacts and previous customers in your marketing funnel. Email list growth should be your main priority for top of the funnel conversion. 

Higher ROI

Conversion rate optimization will make every aspect of your marketing and traffic strategies more efficient. Businesses spend good amounts of money on driving traffic to their website yet very few dollars are spent on converting that traffic. In fact, for every $92 spent on driving traffic, only $1 is spent on optimizing the website experience for conversions. (Source) By optimizing your site, you can convert a higher percentage of your traffic, resulting in a higher ROI.

Improved Website Experience

The whole point of conversion rate optimization is to create a website experience that is easy for visitors find what they’re looking for and convert. This means eliminating frustration, providing convenience, and adding extra value that will keep people coming back. With website experience as a key way of differentiating from competitors, the time to optimize is now!

Better Understanding of Your Customers

Since conversion optimization is an ongoing process of improving your site based on data and analytics, it gives you the opportunity to definitively understand what your customers respond to best. It could mean adding value with educational content or driving sales with discount promotions. The key thing to remember is that every customer base is unique and conversion optimization keeps you in touch with your customer’s wants and needs.

 

 

Success Factors for Conversions

To successfully convert a visitor, you need to implement strategies with these 7 factors in mind. These factors highlight specific things to focus on when optimizing for conversions.

  • Engagement: This is either visitors engaging with your website, or your website engaging with visitors. Today’s website visitor needs to be engaged in an effective manner to drive conversions.  

  • Value proposition: The sum of all the costs and benefits of taking action. Visitors will determine how much value you provide versus the costs on their end. 

  • Relevance: Provide content that matches your ideal customer’s wants and needs. 

  • Clarity: Have a clear value proposition, marketing message, and call-to-action.

  • Anxiety: Eliminate any anxiety by removing or adding website elements that may dissuade visitors from completing the action. 

  • Distraction: Simplify to eliminate anything that may distract visitors from taking the desired action. 

  • Urgency: Convince your visitors to take action now with incentives, offers, and overall presentation.

 

 

Conversion Rate Optimization Solutions by Justuno

Your website visitors are difficult to say the least. They have short attention spans, quick to bounce, and may never come back to your site. By actively engaging your website visitors with value you can convert visitors and keep them coming back to your site.

The Justuno platform provides effective solutions for engaging and converting your website visitors. Present visitors with relevant content and offers that drive specific actions like subscribing to a mailing list, a social follow or share, and completing the checkout process. 

Design spectacular on site promotions and attach targeting & traffic source segmentation rules that control when, where, and to whom your promotions are presented. Determine which promotions are converting the best with simple a/b testing.

Build your email list and convert a higher percentage of traffic with Justuno!

To learn more about Justuno's conversion optimization platform, download the e-book below! It's packed full of actionable strategy to help you leverage your current website traffic for more conversions and sales!

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Topics: Conversion Optimization