July 9, 2021

Guide to Conversion Rate Marketing - All You Need To Know

Image from Unsplash by Carlos Muza

You have invested a huge amount of effort, time, and money to drive traffic to your websites, which showcases top-notch content. But, there’s a problem. You’re not getting the conversions that you expected.

If this sounds familiar to you, you need to focus on Conversion Rate Marketing.

In this article, we’re offering you a guide that will help you understand what Conversion Rate Marketing is, why your business should strive to improve your conversion rate, and how to do it.

What Is Conversion Rate?

Conversion rate indicates what percentage of people visit a website and proceed to take the desired action. A desired action could be completing a web form, signing up for a service, purchasing a product, or engaging with an online chat.

Conversions can be categorized as Macro conversion and Micro Conversion.

A Macro Conversion includes your primary goals for your website. For example a completed sale or a completed lead generation form. On the other hand, a Micro Conversion includes smaller goals like a newsletter sign-up or visiting a web page. Micro conversions usually occur before macro conversion.

How Do You Calculate The Conversion Rate in Marketing?

In order to calculate the conversion rate, divide the number of conversions you received by the number of people who visited the page.

For example, if you get 1000 website visits and 80 of them buy a product from your store, then your conversion rate is (80 / 1000) X 100 = 8%.

The conversion rates in digital marketing include more than just sales; they also include appointments, signing up for a seminar, phone calls, and filling up a form. Conversion rates indicate the effectiveness of your marketing efforts and that people are interested in your product or service.

Why is Conversion Rate Important in Digital Marketing?

Your website’s conversion rate is one of the most important metrics for digital marketing since it determines the value of your online traffic.

You can determine the success of your campaign by looking at its conversion rate. High conversion rates are indicative of successful marketing campaigns. When a campaign's conversion rate is low, it is time to look for issues that can optimize the campaign.

The analytics reports will help you determine which parts of your company get the strongest conversions, and which audiences are likely to become your biggest customers. Similarly, weaker conversion rates indicate weaknesses in your business strategy and where you need to put more effort in.

Once you discover what factors are most important for driving conversions on your website, you will eventually discover how to make your website more valuable for visitors and customers - and you can reap these benefits far beyond short-term profits.

Why You Should Focus On Conversion Rate Markering

You now know what conversion rate is and how to calculate it. Now let's look at why it's important and how focusing your marketing efforts around CRO can help your business.

Enhances Your Understanding About Your Customers

Gathering customer information is a crucial element of conversion rate optimization. A large amount of information is collected, including demographic information, their behaviors on your site, their channel preferences, and more.

This vast collection of information can help you understand the attitudes and behavior patterns of your customers.

As they say, knowledge is power. This is especially true for conversion rate marketing.

Reduces Your Marketing Costs

One of the major advantages of Conversion rate marketing is that you can deduct your variable costs by investing in CRO efforts, especially your digital media advertising costs on networks like Google AdWords, Facebook, and Bing.

Profits can be dramatically increased with even a slight improvement in your conversion rate. This is because, in contrast to advertising, CRO offers immediate and tangible results that are paid directly to you and do not require you to compensate advertisers.

Improves Your Search Rankings

It's no secret that search is getting smarter; even Google itself admits that user behavior now influences rankings. Your Conversion Rate Marketing efforts will help you optimize your website for conversion and improve customer experience on your site, which will inevitably boost your search rankings.

A well-designed and highly-performing online presence will increase your search rankings and, thus, drive high-quality traffic that converts.

Helps You Grow Your Customer Base

If you are running an eCommerce site, you are probably already trying to reduce your cost per acquisition (CPA). Conversion rate marketing can help you with that.

Optimizing your online store will help you better understand your customers, and this in turn will assist you to customize the customer experience and lead shoppers towards making purchasing decisions.

By offering a great customer experience, you'll attract more customers from the same quantity of traffic, resulting in highly satisfied customers and lower acquisition costs.

What is a Good Conversion Rate?

If you are concerned about knowing what a good conversion rate for your company would be, then the truth is, there are no concrete figures or percentages that hold for every business.

Each industry has its own ideal conversion rate. For example, food and beverages have the highest average eCommerce conversion rate by industry which is 4.95%. On the other hand, Health and Beauty have 3.80% and Electronics has 3.50%.

Even these aren’t benchmark figures, since the right conversion rate can depend on factors such as the price of a product, number of purchases, and more.

You can start by looking for the average conversion rate for other businesses in your industry to find out if you have a reasonable rate.

Low Conversion Rates are a Sign of Trouble

A sudden drop in conversion rate or a lack of conversion can severely impact your bottom line.

Here are some possible causes of a low conversion rate:

  1. The first impression of your website is poor.
  2. Search engines aren't able to find your website.
  3. Users are having difficulty navigating your landing page and purchasing from your website.
  4. Your CTAs are not clear or appealing enough.
  5. You're not considering the experience of mobile users.
  6. Checkout is difficult and time-consuming.

8 Strategies To Boost Your Conversion Rate Marketing Marketing Efforts

Increasing your marketing campaign's conversion rate is a great way to increase your overall sales. Learn how to optimize your website for sales, leads, and more with these website conversion rate tips.

1. Design An Attractive Website

A responsive and easy-to-navigate design will increase the usability of your website and facilitate conversions. In addition to making it easy for visitors to find exactly what they are looking for, the site should be accessible on mobile devices and include readable fonts and interactive menus.

In the modern world, mobile devices account for more than half of the world’s web traffic. Having a responsive web design should be a top priority for your business if you want to compete effectively in your industry.

2. Simplify Your Landing Pages

Making it easy for customers to do business with you should be your priority. The process of purchasing should be intuitive, it shouldn't be difficult for your customers to make a purchase or to know where to click to do so.

The user interface must be as clear and straightforward as possible and only require a few clicks.

3. Have Dedicated Landing Pages for Your Advertising Campaigns

There should be a landing page for every advertisement describing the product or service advertised. Make sure you keep the promises you make in your descriptions.

For instance, users are likely to expect Hawaiian shirts and swim trunks when they click on an ad after reading descriptions of summer outfits. Clicking through and seeing pictures of kitchenware might confuse them.

Using a landing page that doesn't deliver what a user expected will not result in conversions. This is why you need to evaluate the entire process, from viewing an ad to viewing your landing page to downloading an offer.

4. Do A/B Testing

A/B testing involves comparing two versions of a web page or an app to determine which one performs better.

Using experimentation reduces risk in decision-making while allowing your creative teams to experiment with new ideas.

The A/B test is a type of experiment in which two or more variants of the same page are shown to users randomly. Following that, a statistical analysis is performed to find out which one performs better for a certain conversion goal.

You could, for instance, choose between the two headline options for your page and run an A/B split test to see which performs better.

Make two different versions of the same page (X and Y), each with its own headline. By using A/B testing tools, half of the traffic is sent to page X and the other half to page Y.

At the end of the test, you count how many people responded to each call to action. The page with the highest conversion rate wins.

5. Research Your Audience and Write Engaging Content

The words users read on your website and landing pages are called web copy. Web users skim headlines and absorb the information that stands out, but do not generally read each word for word. This is because web content is often poorly written.

An experienced copywriter can create copy that speaks directly to the needs of your target market.

Research your audience well. Understanding what problems your target audience faces and the solutions they are looking for will make it easier for you to communicate the value of your product - the features, benefits, etc.

Be sure to maintain a consistent and unique voice across all of your marketing channels. Use titles and copy that suggestively address your users' frustrations. Your ultimate goal is to convince users your product or service is the best fit for their needs.

6. Have Well-designed Calls-to-Action (CTAs)

When they visit your landing page, the first thing people want to know is how to continue. You may lose the lead if you don't provide the right directions. You can guide your leads to the right place by adding well-articulated CTAs to your webpage.

A call to action is a crucial part of any website, as it links the company and its customers. Companies must display eye-catching and informative CTAs that follow the basic rules of conversion rate optimization so that a customer knows why he or she needs the product being sold.

The call-to-action should be designed so that the customer feels obligated to take advantage of the offer. You can create a sense of urgency through your CTAs by taking the advantage of limited-time offers and commands.

In this way, FOMO (fear of missing out) is triggered, and it motivates people to act so they don't miss out on something good.

The following are some examples of CTAs that may trigger FOMO:

  • Get Your Free Free 15-Day Trial Now!
  • Sign Up Now To Get 20% Off Today!

With Proof Leads' CTA and pop-up generation feature, you can effortlessly capture high-quality leads from your website visitors.

7. Keep Your Forms Brief

Do you remember the last time you intended to complete an online form, but were put off by the excessive number of fields required?

Conversion rates can be hammered by this tactic.

People tend to not want to spend much time filling out forms on websites. Asking for unnecessary information will make your audience more likely to abandon your page.

Make your forms as brief as possible. Request only the information you need.

8. Speed Up The Performance Of Your Website

A site's loading speed plays a vital role in search engine optimization, as well as CRO. A slow-loading website is more likely to lead users to leave and go to another website.

You should aim to have your website loaded in under 3 seconds on both desktop and mobile.

You can improve the speed of a website by reducing the file size of images and removing slow-loading elements. Your website can make a noticeable improvement in conversions if you do this.

Get Started With Conversion Rate Marketing Today With Proof Leads

When your conversion rate isn't up to the mark, investing in conversion rate marketing can help you boost your website's conversion performance and grow your customer base.

You can use Proof Leads to drive users towards conversion by using social proof. Its combination of Lead generation CTA and pop-up can help you optimize your conversion rate marketing efforts allows you to easily get quality leads from your website visitors.

Sign up today and increase your conversion by more than 175%!

Leave a Reply

Your email address will not be published. Required fields are marked *