If the above title piqued your interest, you are likely searching for ways to improve the effectiveness of your website. Conversion can refer to many different successfully completed processes, and its coefficient is a metric for measuring, analysing, and continuously enhancing.
A business website (such as an online store) always serves a specific function. Surely you can provide examples of when a visitor accomplishes this objective. This is the ideal form of conversion, known as macro-conversion.
Depending on the nature of your business and the traffic structure, the user will have the opportunity to view it on each and every visit, or only on rare occasions. In any event, it is worthwhile to assist him. Consequently, both industries with lengthy and brief sales cycles benefit from micro-conversions.
Each procedure has its own particularities. Customers can use them to order complementary products, explore knowledge, learn about new products, enrol in a loyalty programme, or transition from one large conversion to the next. In general, micro-conversions consist of maintaining contact with a potential customer, staying in the recipient’s mind, and creating new business opportunities.
It is possible that these minor achievements are also accessible to you. Does the visitor have access to a contact form? Downloadable application of value? A field for quickly adding an email address for newsletter subscription? Organizing these functions is crucial if so. Each interaction should provide the user with an opportunity to return to your website and convert in macro mode.
A simple step suffices to initially comprehend how your conversion rate operates.
The number of conversions from a single user divided by the total number of unique sessions multiplied by 100 percent. Alternatively, in a broader context: the total number of conversions divided by the total number of sessions multiplied by 100 percent.
Unique visits can be used to determine your conversion rate, but sessions are regarded as more reliable. Typically, they are set to expire 30 minutes after the initial page load. Even if the user leaves the website during this time, they continue. During the session, the user may return to the website multiple times to view products, add them to the basket, and complete the transaction.
To delve deeper into the calculation and customise the method to your business, you can employ the comparison: For a business that sells a large quantity of products to its customers, the ratio is computed using the conversion rate multiplied by the number of sessions (x100%). You can also investigate the scale effect by dividing the number of transactions by the total hit counter for all unique visitors.
For businesses with sporadic conversions (e.g., subscriptions), where the customer incurs a liability for a longer period and his subsequent visits do not generate new profits, the situation is more complicated. Micro-conversions will encourage him to commit to a longer-term partnership; free trial periods are the best illustration of this. And because even a small percentage of a session can result in a sale, these businesses measure conversion rates across all visits. Without limiting your research to a specific user. The truth will be revealed when the number of subscriptions is divided by the number of visitors (x100%).
Clearly, the nature of the conversion depends on the business type. As a result of varying objectives, factors affecting its level and types will also vary. In the B2C and e-commerce industries, customers typically make purchases on their own. In B2B, he initiates contact with the sales department through an inquiry or phone call.
Due to this diversity, it is also challenging to compare the conversion rate of a particular store to the market. Nonetheless, if you need a reference point and are a Google Analytics user, you can entrust littledata.io with the calculation and comparison. Nonetheless, this may not be sufficient. Even within a single industry, the ratio is influenced by an insufficient number of elements and processes to permit a reliable comparison. To alleviate this uncertainty, it is assumed that 2% of macro-conversions in e-commerce represent a successful outcome. In light of this, it is prudent to initiate a long-term optimization strategy and implement a consistent measurement method. The number of conversions per user or session.
The first reason is hidden behind the acronym ROAS which stand for Return On Ad Spend. The combination of conversion rate and ROAS enables you to calculate the ROI of an advertisement or campaign. The calculation is as simple as dividing the revenue (conversion value) by the cost of the advertisement. The data are then routinely compared – after the introduced changes, i.e. during optimisation.
The second reason is positioning synergy. This is because increasing your conversion rate is a time-consuming and worthwhile endeavour. On the one hand, SEO goes one step further, that is, beyond registering a website visit. In contrast, it offers a direct evaluation of the quality of acquired traffic. Thus, the SEO area acquires data for analysing the quality of the sources, the expected number of clicks, and the effectiveness of keywords. In exchange for these data, the department of conversion rate optimization receives information regarding hot and cold traffic. As you might expect, cold traffic refers to the first time a user interacts with a website. Warm traffic, in contrast, consists of returnees. These two types of visitors are taken into account by analysing and enhancing the likelihood of conversion.
CRO (Conversion Rate Optimization) encompasses all optimization processes used within the scope discussed. These include actions designed to increase the number of conversions per volume of traffic or per user. Each conversion listed in the table should be optimised, not just those prefixed with „macro.” This strategy will yield a comprehensive and profitable system.
The optimization problems are derived from the conclusions drawn from traffic statistics. You may discover, for instance, a high bounce rate. The majority of visits conclude with the closing of the first page. Typically, such hypotheses generate an optimization path. Theoretically, the analyses may reveal that prospective customers experience difficulties with the shopping cart. By analysing their choices, you can identify the problematic moment and seek a solution. This will assist you in discovering the truth:
A/B tests involve displaying different versions of a website or its subpages to distinct groups of users. They allow you to evaluate which solutions support the conversion process most effectively.
User Experience research (possibly audit): they answer questions regarding the influence of interface elements on visitor decisions.
Quantitative data analysis derived from traffic monitoring tools.
It is crucial to conduct research with a focus on the characteristics of the target audience.
The subsequent optimization process should ideally begin with conversion tracking on a proven analytics platform. Moreover, it will provide the information necessary for quantitative analysis. Google Analytics will serve as a good illustration. This tool’s statistics allow you to learn how users interact with the website.
So if you ask yourself questions like:
Google Analytics will then be able to respond. This is a much better and less financially risky course of action than relying on your own intuition, speculation, and opinions.
Obtaining complete responses to the aforementioned questions also paves the way for remarketing, or regaining the attention and interest of previous site visitors. You will be able to reach them, among others, with ads containing the most recently viewed product. Those who postponed their decision or forgot the store’s location are an especially valuable target market. Perhaps they are currently researching the competition. Sometimes a small discount or promotional offer is sufficient to grab their attention.
However, the American giant’s analytical tool can be implemented poorly. Then, despite its immense potential, it will collect insufficient or even erroneous data.
Some clients choose preventive audit to ensure that GA is operating at full capacity for them, that the code is correctly implemented on the subpages, that the filters are correctly set, and that the services are properly configured.
In addition to the well-known Google tool, there are additional recommendations on the market for optimising your conversion rate:
What factors should be considered during a CRO?
The data obtained from the aforementioned resources can provide numerous concrete recommendations. If you need examples as a reference, consider the following 15 universal tips.
Lastly, a piece of advice for site administrators who cannot yet boast high traffic. Opinions in the industry indicate that it is beneficial to initiate A/B tests as soon as possible and to utilise a variety of website versions. The lower the traffic the less variations are needed. For 100 unique users per month, 2 versions are enough. In exchange for a discount, parallel testing is possible. This will allow you to enter the path of increasing the conversion rate more quickly and provide future data.
Consider the easiest test to develop as an example. The same layout with different headers and content was tested for micro-conversion, which is defined as a decrease in bounce rates. The same holds true for the colour palette, logo placement, and button placement. Advanced tests may necessitate a complete interface rebuild.
If it is already possible to identify these, it is preferable to focus the tests on the most popular subpages. Due to the difficulty of testing macro-conversions, it is prudent to concentrate on micro-conversions. The second pillar will consist of an analysis of the remaining elements, including bounce rate, time on site, and click paths. Priority is to give reasons to move forward. Best of luck.
