What Does Conversion Mean?
Conversion is a modern marketing term used to define a point where prepared marketing messages have performed their desired action. Conversion is the customer's next best step, taken to either get one step closer to the final purchase or the step taken to ultimately get the purchase done.
While running any generic to an eCommerce website, an increased conversion rate is a key thing to have, in order to keep growing your business. Online retail businesses are not just pursued with the intent to maintain the rankings, traffics, their core purpose is to place user-personalized marketing campaigns in a way where the conversion rates are increasing without fail.
Now you know what conversion does conversion mean, here are the few ways how conversions are titled as.
Conversions can be in any form as following:
The ratio of the total number of conversions done to the total number of visitors you aim to engage in.
Suppose you prepared a marketing ad for 20,000 people and out of them only 500 clicked the ad, then your conversion rate would be:
500 / 20,000 X 100 = 2.5%
Conversions can be in any form as following:
Conversions matter as they define the effectiveness of the business's marketing funnel. Conversions help the businesses to bifurcate the audience who are willing to buy their product and those who are not. It helps to analyze the touchpoints where the visitors before turning into customers are mostly found and active and thus gives businesses a scope to improve their current marketing funnel in a way that leads could be pushed to the sales funnel.
It helps to identify the bottlenecks in the buyer's journey and gives enough time to get rid of those bottlenecks so that ultimate conversions are not stopped.
For example, a customer shopping through your eCommerce store has started the checkout process by filling the form (a conversion to reach the final purchase) but due to the exhaustive process of form filling and checkout, he abandons the cart. Here you get to recognize the reasons why users are leaving before buying anything - here you can analyze your checkout process and make it more interactive and easy to process to bring those users to the ultimate conversion.
Thus, knowing your conversion rate is important as it gives you clarity on how your marketing funnel is doing, who your actual buyers are, and help you eradicate the roadblocks that are stopping users from becoming your actual customers.
Conversion rate optimization is a set of efforts done to help the websites increase their conversion rate - by either increasing that website traffic or by improving the marketing funnel in a way, people get tempted to get near to final purchase or actually result in final purchase.
Conversion rate optimization (CRO) is important as it helps to attract wealthy returns to the site owner. It allows you to minimize your customer acquisition cost in the form of running paid ads or marketing activities, by helping you extract more value from every new visitor or the ones your website already has. By having CRO, you can increase your revenue per visitor, easily get more customers, and ultimately have high yields.
For Instance: If your business landing page has a conversion rate of 10% and receives 2000 visitors monthly, it means your page is doing 200 conversions per month. If you improve the elements of the landing page by conversion rate optimization services and bring the conversion rate to 15% from 10%, then your conversions will increase and jump to 300. You can keep on doing the improvement activities with the help of conversion rate optimization services and can each time see a drastic uplift in conversion rate.
The companies who are always doing well are the ones who keep a gauge on their website or app improvement by CRO techniques and keep conscious observation on their conversion rate to grow their customers & business overall.
Now you know what is conversion rate optimization and why it is important, let's learn a few ways on how to establish your conversion goals.
Conversion rate optimization starts with the process of understanding the conversion goals, it initiates with pinning the outcomes you would want to get from your business. Here are some of the conversion goals based on industry type:
You can have any conversion goal as you want, you can have just one goal or can have plenty of, before going for the conversion rate optimization services.
Here are the ways you can increase your conversion with your conversion rate optimization services providers:
The optimization of the conversation rate does involve improving the landing pages with accessible information, buttons, and lead capture forms, but it actually starts with getting the right viewers to your website.
The quality of your landing page is directly proportional to your conversion rates. Landing pages of poor quality or that are irrelevant to the user's search intent can cost you losing leads, drop-in page quality, and will in conjunction increase your pay per click, cost per action, and would even drop down your Google's ad rankings. Thus, it is important to carefully know of where your landing page is headed by following the few best practices of framing a quality landing page:
A few other important conversion optimization tactics that you can adopt with the conversion rate optimization services providers:
This was a deep-dig on "what is a conversion", "why conversions are important", "what is conversion rate", "what is conversion rate optimization" & why it is important, and few techniques on how to skyrocket the conversion curve.
Conversions are important for any business, they are the bottom line for any business defining their success or at least clear areas to reach their final success. Gauging and monitoring the conversion rate is important to see an ultimate uplift in the revenues.
Increasing the conversion rate is not a cakewalk, it requires dedicated time and resources which are only available with the specialized & professional Conversion rate optimization services providers.
If you are a business juggling to get the desired conversion rate, the next best step is to consult the best Conversion rate optimization services around - who could help you understand what conversion means and what is conversion rate optimization best techniques to follow through.
Until next time, Be creative! - Pix'sTory made by William Hills