Let's get to the basics - what is a Conversion? These days, one of the main goals of a marketer is to drive growth beyond objectives, including a high conversion rate. To achieve greater business numbers, marketers have to filter quality leads that will later engage with the brand and make a purchase - this purchase made by the user is called conversion in digital marketing terms.
Conversion rate is the percentage of website visitors who complete the desired action, such as signing up for a service, filling out the KYC form or making a purchase and many more such actions. To calculate the conversion rate, merely divide the total number of conversions by the total number of visitors.
Every company aspires to get the most out of the traffic they receive and to increase the potential of doing so, marketing teams take the help of Conversion Rate Optimization (CRO). CRO is the process of enhancing Conversions, which means more Revenue and Business Growth.
Conversions can happen anywhere and everywhere on the website, on your homepage, checkout page, about us page, blog, landing pages, and more. When tweaking pages of the website, there is always a chance of creating inconsistency amongst web pages, hence, it is better to optimize your pages with relevant keywords.
Statistically, 90% of customers want to have a consistent experience with a brand, and 64% of customers say that shared values are the primary reason to stick with a brand and engage with it.
Let's check out a few CRO (conversion rate optimization) strategies to improve your company’s conversion rate:
Customer Value Proposition:
CVP is the experience a customer gains while associating with a brand (by making a purchase). A powerful CVP should answer the following questions creatively when a visitor lands on your page:
- How does the product/ service solve the customers’ problems?
- What are the benefits of using the product/ service?
- Why should the customer choose your brand over your competitors?
If the customer is clear and happy with the product and its benefits, the chances of it converting into a sale are significantly higher.
Tips to Improve CVP:
- Brands can ease their user journey.
- Add easy checkout options to make a payment.
- Can provide relevant products to customers with high purchase potential.
Split Testing: Split testing is creating two alternatives of a web page and then analysing which one is outperforming the other. Split testing can be performed by testing different factors of the landing page, such as making changes to the colours, font, call-to-action, images and many more minute factors. However, specific factors should be changed at a time to know which change has contributed to the conversion rate. To analyse it better, it is recommended to have enough data beforehand. Lastly, choose the variant that is capturing more conversions.
For example, PayU is an Indian-origin fin-tech company that provides an exclusive range of financial solutions for local and cross-border merchants in emerging markets. As a payment gateway, PayU wished to maintain a simple and convenient checkout process for its customers. However, its Checkout page analytics had another story to tell, many potential customers were dropping off from the page, hence negatively impacting the sales and revenue. To prevent this from happening, PayU carried out a split test by making minor changes to its checkout page form. Earlier the checkout page asked the users to enter their email id and phone number to complete the process. On the other hand, the new checkout page only asked for the user's mobile number. After implementing the change, PayU saw a hike of 5.8% in conversions!
Write Simple-yet-Effective ad copies: It is of utmost importance that the landing page of your brand is not vague or complicated, that’s not what your target audience is interested in seeing. It is preferred to use a simple & plain copy than a copy filled with technical jargon to make every visitor understand the service/product and how it can benefit them.
For example, Spotify’s landing page is simple, the contrasting background catches the eye of the visitor with the text and call-to-action. The copy is engaging and aims to reach a wider audience. To grab attention, Spotify has even added a vector of a keyboard.
Think of Conversion Rate Optimization as a subset of your brand. To make changes to your website to improve the conversion rate, you must follow your brand guidelines. Digidarts, a 360° Performance-Driven Digital Marketing Agency, can help you to achieve a better CRO while staying true to your brand while maximizing website traffic.
