Iva Josifoska - 03/04/2022 - Digital Marketing / eCommerce - 0 Comments - conversion rate optimization / ecommerce

What Is Conversion Rate Optimization?

Conversion rate optimization is the process of increasing the conversions on a website or an app by improving important elements. Conversions can be interpreted as desired actions performed by users. Desired actions can include downloading an app, downloading a brochure, purchasing a product, clicking on add to cart, filling out a form, etc. 


Why Is CRO Important for eCommerce Businesses?

If you thought that online retailers don’t need optimization since the shoppers have already made a purchase decision, you are wrong. Ecommerce businesses are the ones that should invest in conversion rate optimization the most. Slow loading time, confusing navigation, not trustworthy checkout process can all push away potential customers. So, why is CRO important for eCommerce businesses? Let’s dive in.


PPC Prices Are Going High

Pay per click is considered one of the best ways to put yourself out there. It’s fast, easy, and effective. But with the rise of online shopping, the competition is getting bigger and bigger. So, that means one thing, pay per click prices will inevitably go up. 

You might notice that the PPC is increasing while the CRO is decreasing. This signals that it’s time to roll up your sleeves and start digging that CRO world. Having an optimized website will make you stand out from the competition.

ppc prices are going up

Higher Competition Than Ever Before

As we mentioned in the previous paragraph, the competition is getting wild. There are more and more retailers online competing over customers. You need to make sure that you offer a smooth user experience on your website. You need to have a website that is easy to use and navigate. Pay attention to the checkout process; you don’t want to lose a potential customer due to not trustworthy checkout. 


The Power Of Social Media 

We are all aware of the power social media has. It’s no secret that sharing content on social media leads to more page views and page visits. Social media is a great way to connect with new and existing customers and guide them towards conversion in the funnel. 

Other than increased website visits, social media has affected the user attention span. It has made it shorter than ever before. That’s why putting your product on a product page isn’t enough. You need to share a story, something unique that the customers would be drawn upon. 


Short Attention Span

Say it quick and say it well. Consumers these days don’t have the time and patience to research for information. They need everything to be right in front of them. Here is where CRO comes in place. It can easily combat this new consumer mentality. 


Increase Traffic To Your eCommerce Store

As you optimize your conversion rate, you also reduce the cost of customer acquisition and begin to receive free customers without increasing your advertising budget. The result of all this is that you get more traffic to your site, and you have more profit, which gives you a chance to run ads based on your audience, outbid and outgrow the competition.

You create a growth loop when you start investing and applying new CRO strategies to your site, which creates a snowball effect on your traffic, conversions, and profits.

Source: ebizondigital.com


How to Calculate CRO?

Conversion rate is calculated by dividing the number of conversions by the number of visitors and multiplying that number by 100 to get a percentage.

conversion rate formula

This is the standard formula for calculating CRO. However, you can have many conversions that are important to you. Let’s say that you want to see how many people have subscribed to your newsletter for a month. You take the number of people who opted-in that month, divide it by the monthly number of website visitors, and multiply it by 100. The percentage you get is the conversion rate for that particular month.


Conversion Rate Optimization Strategies

Well-optimized landing pages offer you increased business opportunities with more income from the same traffic. Let us consider a few conversion rate optimization strategies that will improve your conversion rates.


Use Social Proof 

Social proof is an informational social influence where people comply with the actions of others that are seen as acceptable and correct. That’s why social proof has a significant influence on making purchase decisions. People love reading reviews and testimonials before buying. Positive reviews reassure them that the product delivers what it claims. 

Social proof conveys trust, so implementing it on your product pages can make potential customers convert more easily.


Add Pop-ups On Your Blog

Pop-ups have proved to be highly convertible and effective. Pop-ups are considered excellent conversion rate optimization elements since they simplify and speed up conversions. You can test different pop-up designs and positions to see which are the real deal for you.


A/B Tests On Your Landing Page

At the beginning of this blog post, we mentioned that CRO is about testing and changing website elements to increase conversions. So, A/B testing different types of elements on your site are the way to go.

a/b testing

You can do an A/B test for the color of the ‘Add to cart” button, its position, font size, etc. You can also test the alignment of the product on the product page. However, what is really important is always to test one element at a time. Otherwise, you won’t be able to tell where the results came from.


Use Live Chat Software

Online consumers nowadays love the possibility to talk to company representatives in real-time. Adding online chats to your website can benefit you in many ways. First, you can clarify some customers' uncertainties; then, you can personalize the experience and “persuade” them why they need the product.


Let’s Wrap It Up

Investing some effort in conversion rate optimization can do so much for your online store. These days people tend to shop online so having a fully optimized online store is a must in order to increase revenue. 

Focus on offering a smooth user experience, eliminating friction points, making your website easy to navigate, and paying attention to the checkout process. Do A/B testing in order to find what works best for you and what brings you the most value.

If you encounter some difficulties in developing your conversion rate optimization strategy, reach out to us! Our team of experts will be more than happy to offer you a solution.

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