How to make sense of conversion rate optimization.
The Alpha Chimp answers the biggest questions about conversion rate optimization
I’m often asked the same questions. Important stuff like “Hey Chris, what’s a conversion?”, “So um what’s conversion rate optimization?” and “What sort of conversion rate do you think we should have?”
The average Joe wants to know what conversion rate optimization is before they can assess if it's right for them or perhaps something they want to learn to do themselves.
It's perfectly understandable for people to have questions about CRO and this article answers the most common questions people ask about conversion rate optimization:
What does a "conversion" mean in marketing?
In marketing, when a desired outcome is taken by visitors, subscribers, or customers we call it a conversion. Actions may include subscribing to an email newsletter, downloading a free ebook, signing up for a webinar, or purchasing a product.
What is a conversion funnel?
A conversion funnel is the journey of people's interaction with a business or brand from the time they become aware to becoming customers and in some cases, repeat customers. This often follows the stages of awareness, interest, desire, and action (AIDA).
What is conversion rate optimization?
Conversion rate optimization (CRO for short) involves optimizing a website to increase conversions from existing web traffic. This includes tweaking web pages or email campaigns to enhance the number of people taking the desired action. This involves testing, measuring, and making incremental changes to continually improve conversion rates.
Like + Comment + Share
Who’ll Love This Article :)
Why is conversion rate optimization important?
CRO is crucial because it allows businesses to maximize the effectiveness of their existing traffic to their website. This strategy improves marketing ROI by focusing on people who have already shown interest in the business, rather than trying to reach a new audience.
How do you calculate your conversion rate?
The conversion rate is calculated by dividing the number of actions or conversions by the total number of visitors or subscribers (for example 10 conversions divided by 100 sessions is 0.1). This number is then turned into a percentage. This is your conversion rate (10%).
What is a good conversion rate?
A "good" conversion rate can vary wildly by industry, niche and price. For example, the average conversion rate for a landing page is around 4.02%, but this can differ significantly depending on what's being offered and the specific action being measured. This may sound vague, but you should be able to find an industry benchmark to give you a good idea of what to aim for.
What is a conversion goal?
Conversion goals are specific outcomes expected after optimizing a web page or email. This could include increasing time spent on a page, attracting more subscribers, increasing free trial signups, or reducing shopping cart abandonment.
How will analytics help with conversions?
Analytics help in tracking the behaviour of visitors and identifying which areas of a web page or sales funnel need to be optimized. This data is crucial for understanding how to improve key metrics and conversion rates.
Conclusion.
It's official: you now know more about conversion rate optimization than 99.9% of the World's population.
Sure, you're in the top 0.01% kid... But don't let that go to your head.
Oh and if you still have questions then get in contact.
I don’t bite… Much.