It’s simple. The effectiveness of your business website is critical to your brand’s success. If it’s not generating new business opportunities, then you need to be optimizing your on-site experience with conversions in mind. But, what exactly is conversion-rate optimization (CRO)? And, why is it so important? Let’s delve into the world of CRO to start maximizing your website.
What is CRO?
CRO is the practice of making positive changes to your business website to increase the number of visitors that make conversions. Essentially, it’s about ensuring that no visitor leaves without taking a desired action on your website — the action will vary depending on your business and its goals. Micro conversions, for example, are those that are not revenue-based — such as content downloads and newsletter sign-ups. Macro conversions, on the other hand, are those that could directly lead to revenue — like a completed sale or an inquiry form. If you want to keep up with competitors, then your conversions matter.
The metrics you need to know
When it comes to B2B marketing, there are multiple measurement metrics to consider.
An obvious but effective metric, your conversion-rate tells you the percentage of visitors that are making an inquiry. To work this out, divide the number of conversions by the total number of interactions or visitors. To improve CRO, you want to increase this number.
This indicates the rate at which your visitors are exiting your pages and is calculated by the number of single-page visits, divided by the total number of website visitors that enter the website. The lower the number, the better!
- Page views and time spent on site
The level of website engagement displayed by your visitors often correlates with their interest in your brand, products or service. The higher number of total page views and time spent exploring your site, the more likely it is that the visitor will go on to make a conversion.
- Click-through rate
Your website traffic is driven by your marketing activity — your search and social adverts, your social media posts, content marketing, email blasts and more. Monitor the percentage of click-throughs to your site to help inform your future marketing decisions.
- Cost per conversion
Determining the return on investment of your marketing activity is vital in ensuring success — so measuring your cost per conversion is a must. This tells you how much it costs to acquire a customer, including any costs incurred over the course of your marketing campaigns.
- Page load speed
A fast-loading website is a website that generates leads. Think about your own experience as a buyer — if a website or its campaign-specific landing pages take a long time to load, it’s likely that you’ll move onto one of the business’s many competitors.
How to get started
There are a number of simple strategies to employ to kick-start your CRO strategy. First, start by assessing the appearance of your site. Is it modern, attractive and trustworthy looking? Next, you’ll want to assess your website load speed — using relevant technology to assess how quickly your home page, product pages and landing pages load. Then, use your preferred website analytics tool to identify the pages with high bounce-rates and low conversions. Consider why they aren’t performing and make changes to captivate your visitors — write more engaging copy, move your call-to-action above the fold, or even include a video on the page to keep your visitors around for longer.
Analyze your typical visitor journey — where are they arriving from, how long are they staying, and what are they exploring? This will help you enhance the overall user journey and experience, ensuring that it is intuitive, simple and always guiding your visitor to the conversion. Depending on the size and scale of your site, you may have to optimize page by page to achieve the best results — adding CTAs to your content marketing material, gating high-value, educational pieces, and even personalizing aspects of your site to meet the needs of your audience specifically. It isn’t a quick-win job and will take time, so devise a time-scale to ensure you’re always on track to achieving optimization success. Finally, testing your success is vital — so prepare to split test content, CTAs, landing pages and more to ensure the best results.
Lead Forensics is an innovative lead generation software that eliminates the need for on-site inquiries and instantly increases website conversion. It works by utilizing intelligent reverse IP tracking software and a global leading database of business IP addresses to track your website visitors, reveal their identity and notify you in real-time. Users are provided with the business name, contact details of key decision-makers and detailed visitor analytics outlining the time spent on your site. This way, they have everything they need to reach out to the right person, with the right information, at the right time. Book your Lead Forensics demonstration today!