When Conversion Rate Optimization Suddenly Became Important
Conversion rate optimisation
Due to this need freelancers & companies have developed expertise in making conversions funnels more optimized so they will meet the business goals of the sites owners with very little investment.
Conversion Rate Optimisation – What is it?
Conversion Rate Optimisation (abbreviated as CRO) is a process where the focus is to raise the metric of the Conversion Rate (or CR). Pay attention that this doesn’t have to mean that at the end of this process a site will generate more sales or leads for instance. The focus here is that conversion itself will happen in high percentage of the visits. If later on, the website owner would like to send massive amount of similar traffic to the site there is a likelihood to keep the conversion rate to as close a value to the one that the optimisation process yielded.
For example if the conversion rate of a certain traffic that’s being sent to a website yields a conversion rate of 3%, then an optimisation process may push this number to be 5%, and enables the site not only convert better, but to identify the part of the traffic that is less convertible, and drop it during the effort that’s being put into marketing.
There are basically 6 phases to a successful Conversion Rate Optimisation process:
(a) Learning the business data which is relevant directly or indirectly to the conversion process.
(b) Understanding the business’ DNA: what are its values, who are its current customers, what is the business’ public image on the web.
(c) Learning the existing conversion path, its strengths & weaknesses.
(d) Verifying that there isn’t something wrong neither technically, or logically in the conversion funnel.
(e) Offering several test hypotheses & selecting 1-2 which may bring the strongest improvement.
(f) Testing the hypotheses that were chosen for a specified period.
(g) Examining the results at the end of the period & learning of the hypotheses were proven as correct with a statistical significance test. In this case the optimizer will move on to paragraph (i).
(h) In case there wasn’t a proof a hypothesis can be accepted, a pivot to another hypothesis should be made. This new hypothesis should be tested again like in paragraph (f).
(i) Switching to the new & successful pages either fully or gradually.
(j) Measuring the improvement for a specific period & comparing it with prior data for the same period.
Why Conversion Rate Optimisation Services are Highly Demanded?
There are various types of services that are being offered. Each one can be sold as a single service or as part of a bundle of services. Those services can include one or more of the following:
1) Analysis of the strong spots & weak spots on the conversion funnel.
2) Changing the structure of the conversion funnel.
3) Finding the traffic that is more prone to convert.
4) Committing A/B testing on a funnel or a web page for new offers or UX (user experience).
5) Embedding marketing tools such as popups, calculators, graphs etc.
6) Looking for lost business opportunities that can be exploited on the current traffic or on new traffic. Such opportunities can be to remarket your existing visitors with new offers to cross sell or upsell.
7) Helping the company to profile the needs of the “perfect customer” according to their current database of customers.
8) Finding technical problems that should be solved in order to lower friction that may occur before the conversion
9) Mapping & learning the current visitors flow using analytics tools
10) Create usability tests & heatmaps.
As you can see, these services can be very versatile and demand the conversion rate optimizer to have knowledge in traffic generation, web technologies, academic research methods, business goals, data analysis and much more. Since these skills can’t be taught in a short period, and require years of practice, decision makers in companies were having a hard time finding companies which will be able to supply this set of skills within their team.
Nowadays conversion rate optimizers, sometimes known as growth hackers are in very high demand.
Last Thought About Conversion Optimisation
Conversion rate optimisation comes in handy the minute you understand you are spending lots of money on seo, ppc or other paid channels, but the CPA is high & accordingly the acquisitions number doesn’t comply with the business goals you have set.
That is a good thing, because it forces you, the site owner, to start thinking with professionals why is your site in this situation, and how marketing & technology & business aspects should be dealt to move on to the next level.
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