If you recall the Growth Hacking funnel stages, this stage relates to the second one and is typically linked with site users leaving their data and therefore transitioning into leads.
Let’s go incrementally to optimize this crucial indicator for your business.
What is transformation?
A simple example of a conversion is a website visitor who performs an activity you desire. This might include subscribing to your newsletter, creating a user account, making a payment, or downloading x stuff that you’ve prepared.
Consequently, regardless of what you have defined, this is the action you must measure and optimize.
The fundamental figures for conversion rate optimization
This is a summary of the metrics you should track to optimize your CRO (conversion rate optimization), identify bottlenecks, and develop an action plan. Google Analytics enables you to do it all.
Consider the following KPIs to boost conversion rate.
Total conversions: This is the number of individuals that performed the action you have described as a conversion. It could be a subscription, a purchase, a download, etc.
To calculate the conversion rate, divide the total number of conversions by the number of website visitors and represent the result as a percentage.
Do not believe you have completed your homework with this. There are still several statistics to collect. For example, how long do visitors spend on your website? Which pages do people browse while on the site?
To begin formulating hypotheses and working on them, you must familiarize yourself with the following metrics:
Rebound rate
You probably already know this, but it is the percentage of visitors who only view one page before leaving your site. A high bounce rate is a negative indicator. You should consider the possibility that visitors to your website do not find what they are seeking and hence depart.
Exit rate is the proportion of site visitors who leave from a specific page or set of pages. This data indicates the final page a user visited before leaving your site. As you may deduce, a high exit rate on a particular page should prompt you to reconsider your approach. Why are they going immediately?
pageviews per page
This is an engagement metric that indicates how long users have been browsing a page or collection of pages. Possibly, if you have a high bounce rate, you will also have a relatively short average time on page. With this information, my dear friend, it is quite difficult for people to accomplish what you want them to do, i.e., you will be unable to maximize your conversion rate Alpha book writers.
This is another engagement statistic that indicates the number of pages read before a user leaves your website. More page views could indicate a higher level of engagement, but if there is no conversion at the end of the funnel, it could indicate that the funnel is poorly structured.
However, does this refer to total visits counts or unique users?
I haven’t lost my mind. I will contextualize this question so that you can better comprehend my meaning.
Imagine you have a shoe store, and I enter to peruse the selection and even try on a few pairs. As your store is located in a commercial location and I am indecisive, I visit other stores or check costs before making a purchase.
It turns out that I return to your store after a few days. I admired the Pura Lopez shoes you own, Vaale. The question is whether you have counted me as a single visitor who has returned twice, or as two separate visitors Alpha book writers.
Such is the case in the realm of internet sales. As with your imaginary shoe business, if you have an ecommerce, it makes no sense to wait for each visitor to make a purchase immediately. Instead, they will leave, check out the competition, and return when they are in the mood or if they are truly interested in you.
Many choose to focus on unique users when calculating their conversion rate. Whether you choose to focus on unique visitors or total visitors to establish your conversion rate, be sure to define it precisely so that your techniques are consistent.
Plan for conversion rate optimization
I’m sure that when you began reading this post, you were eager to reach this section. Please do not think poorly of me; I do not write so much for SEO purposes. I feel it vital to provide the preceding information so that you can get at this location and fully comprehend it.
Phase 1: Ground preparation
If you’ve read the post’s introduction (thanks again), you already know how crucial it is to clearly define what conversion means for you or your company. Remember that your goals could be subscribers, sales, or anything else.
These are hypotheses that could be included in your testing plan:
The greater the number of downloads of your free ebook, the greater the number of leads generated.
Including client testimonials can boost the web’s credibility and, consequently, the development of leads that result in purchases.
Test the effectiveness of displaying testimonials on a landing page using AB testing.
Examine all of these data to determine if your hypotheses are accurate Alpha book writers.
Phase 2: Determine a place of departure
I’ve told you previously. To maximize the conversion rate, you must assess all available data and understand what you’re looking for, what you want to improve, and what you should measure. This is the starting point or baseline for self-completion, but a CRO agency is suggested.
Unless you compare metrics, you won’t know if your decisions are helping you optimize conversion. To establish this comparative baseline, do the following:
Refer to the first objectives established. In other words, what action do you want users to do (conversion)?
Examine the metrics associated with these objectives: what is your current conversion rate and which traffic sources contribute the most to this conversion?
Ask users if the conversion process is straightforward, what may be improved, and most importantly, if your objectives are being reached.
Utilize the responses of these users to make the necessary adjustments, compare results, and achieve your objectives (conversion) Alpha book writers.
Phase 3: Hypothesis development
Now comes the intriguing part. It is essential to examine our starting point or baseline and begin identifying the obstacles that impede us from optimizing our conversion rate.
Thus, we will use the techniques I described in Phase 2 to identify issue areas on our website, assess the data, and seek solutions.
Fourth Phase: Design Tests
Now that the hypotheses have been established, it is time to test them. Prioritize the issues that need to be resolved and record everything, everything, and everything.
There are a few considerations to keep in mind when creating the tests:
Start with elementary tests Alpha book writers. For instance, while doing an AB test, don’t make too many simultaneous changes. Fewer modifications will provide more information than numerous changes simultaneously.
If visitors are not downloading your free ebook, don’t assume that by altering the colour of the CTA they would, or maybe they will… but perhaps the problem is that the incentive you are delivering in exchange for their information is insufficiently beneficial.
Ask the opinions of others around you. Oftentimes, we believe that we have performed exceptionally well and cannot see beyond that. We need an outsider to inform us of the situation.
Observe your competition and imitate their actions. Consider what works for them and generate ideas.
Be consistent in your testing procedures. Do not believe that the smallest adjustment that benefits you is the correct one. Continue observing, measuring, and analyzing to confirm that your decision is effective.
Once you have considered all of the tests you will do, such as altering the button colors or Alpha book writers reorganizing the information hierarchy, it is time to execute them.
You must compare the test data you collect with the data you had at the beginning of Phase 2 to determine what you’ve learnt. The results will indicate the correct course of action, grasshopper.
If the test was successful, fantastic!!! Let’s test the next hypothesis you developed. We have eliminated a bottleneck.
If the test fails, do not become disheartened. You must return, review the facts, and begin again with new theories and modifications.
