Website conversion optimization is not a new concept. Econsultancy discovered that 50% of organizations say conversion rate optimization is a crucial part of their digital marketing — but, according to Conversion XL, 68% of small businesses don’t have a documented or structured CRO strategy in place. Without a clearly outlined strategy in optimization strategy in place, you risk losing out on valuable website leads and potential customers. To become an expert in anything, you need to have a clear understanding of the topic, know what you want to achieve and why. So, start at the beginning — what are your wider business goals and how will a well-planned CRO strategy support them? Then, it’s time to implement your plan, monitor results, measure your success and get the best results for your business.
Conversion rate optimization fundamentals
“CRO is the act of increasing the performance of your marketing by uncovering ways to more accurately address your customers.” — Oli Gardner, Co-Founder, Unbounce
Your conversion rate is the percentage of website visitors that take a desired action on your website. The higher your CR, the better — as it means your website is engaging enough for visitors to want to work with you. Businesses can measure micro conversions — actions like signing up to a newsletter, downloading an asset or adding an item to their basket. Or, macro conversions — actions such as making a purchase, completing an application form, or filling in a contact form. Find out more about how to use micro and macro conversions together. Essentially, conversion rate optimization is the strategy marketers implement or activities they undertake to ensure their visitors take these desired actions, and go on to become leads and customers.
Optimal conversion rate
“You need to look at CRO in terms of business acceleration, and most don’t see it that way — so they don’t get the full benefit of it.” — Tim Ash, CEO, Site Turners
What is considered a ‘good’ conversion rate? Well, according to Search Engine Land, the average landing page conversion rate is 2.35%. However, the top 10% of landing pages have conversion rates in the realms of 11.45%. So, it’s not as simple as ‘good’ or ‘bad’ result, and there are a number of factors to consider when outlining what is a good conversion rate and what isn’t. The price of your product, the source of your traffic, and your customer loyalty will play a significant role in what your CR looks like. The average will vary from industry to industry — so, get to know what is considered a positive conversion rate for your organization or sector and aim to skyrocket your results.
Conversion rate optimization marketing
“It’s much easier to double your business by doubling your conversion rate than by doubling your traffic.” — Jeff Eisenberg, President of EVR Advertising
Like all marketing approaches, CRO marketing involves a level of experimentation. For example, CTAs with 10 words or less can lift conversion rates, according to MECLABS. Including a video on your landing page can increase your conversion rate by more than 80%, according to Venture Harbour. And, Marketing Experiments found that using the correct targeting and testing methods can boost your conversion rates by up to 300%.
However, every business is different, and every customer base will have their own preferences. You will need to conduct split tests and be prepared to make changes to see what works best for you and your wider audience.
Sales conversion optimization
“Don’t optimize for conversions, optimize for revenue.” — Neil Patel, Entrepreneur
Marketers spend large quantities of their time driving traffic to business websites. Once this traffic is engaged enough, it turns into leads. Then, it is then passed on to the sales team where it will hopefully convert to high-value customers. While driving traffic is important for a number of reasons, the ultimate aim of your business is to grow. And, to do that, you need to gain new business — whether that be from new or existing customers. Optimizing your website and online experience with sales in mind helps align teams to work towards common goals, and focus on achieving revenue-based results. An effective CRO marketing strategy will ensure you get there — transforming your sales process and generating warmer leads than ever before
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