Breaking Down Conversion Rate (4 ways to improve it)

A/B Test
Photo by Jason Dent on Unsplash

In simple terms, the conversion rate is the measure of the number of website visitors out of the total website visitors who have completed a specific goal. The goal could be signing up for your product, making a purchase, taking a trial, scheduling an appointment, or even sharing their contact details for future correspondence.

The conversion rate for a website is represented as a percentage and is calculated using the below-mentioned formula:

The importance of conversion rate monitoring

Tracking and monitoring conversion gives an idea of how efficient your website is in converting your website visitors into customers or prospective customers. It indicates whether the users are completing the goals as intended on the web page. For example, on your landing page, the goal would be to sign up, whereas, on your resources page, the goal would be downloading content by sharing their contact information.

Monitoring conversion rate helps:

  • Identify gaps in your website conversion
  • Measure paid and non-paid conversion metrics
  • Continuously improve website behavior to maximize conversion
  • Track revenue per visitor

Ways to improve Conversion Rate

The process of monitoring and improving conversion rate is referred to as Conversion Rate Optimization or CRO. There are several CRO tactics that can optimize your website for maximum conversion.

1. Perform A/B testing

A/B testing is a popular user research methodology. It creates two variants of something and tracks which variant works as desired. In website conversion, A/B testing is carried out by creating two variants of the same website.

Each variant will have a separate layout, content, CTA copy, color theme of the website, and so on. Each of the variants will be monitored for a specific period of time, like a week or month. Based on the performance of the variants, the outperforming variant will be chosen as the default choice.

A/B testing helps you understand which variant is giving maximum conversions. Based on the finding, you can replicate the website elements for upcoming campaigns or web pages.

2. Provide a live chat option

Do you know what prevents most of the interested prospects from signing up on your website? Most often, they have questions that your website copy, the FAQ section, or the listed resources do not answer. They want these questions to be answered instantly without further delay.

Lack of information can prevent users from signing up immediately. It is here that a live chat option can help.

Live chat software, like the one from Acquire, is a widget that can be embedded into a website. Having a live chat option can save a lot of time and effort for the business while providing instant support for website visitors. It also helps businesses boost sales & improve customer experience.

chat

Needless to say, live chat software can go a long way in enabling website visitors to convert immediately. In fact, studies have proven that live chat software can boost conversion rates by up to 45% (Neil Patel).

3. Showcase social proof on landing pages

While searching for a restaurant in a new location, how often have you chosen one above the other based on the number of reviews and star ratings? Most often, right? We are conditioned to take sides with what the majority found to be good and worthwhile.

This psychological phenomenon where we assume the actions of others to be right and direct our actions based on that is referred to as social proof.

There are several types of social proofs:

  • Testimonials from customers
  • Reviews by experts or influencers
  • Star ratings & reviews
  • Social media mentions
  • Industry certifications

OptinMonster found that 88% of consumers trust user reviews as much as personal recommendations. Showcasing social proof on your landing page boosts trust and makes your customers convert easier. You can also try Systeme.io for creating a website with high converting landing pages to close more sales.

Social proofs like reviews, testimonials, etc., give customers the assurance that their choice is a good one and that a similar decision has been made by many users in the past.

Businesses use social proof in several ways. While some businesses showcase their customer logos, some others take the option of showcasing text, image, or video reviews from customers. One of the best examples of showcasing social proof is the signup and login page of the image editing platform Canva. The mere mention of 10 Million users should convince a skeptical prospect.

Canva sign-up form
Source

4. Simplify the conversion process

One of the striking features of successful businesses is that they make it easier for businesses to deal with them. This is especially true for eCommerce businesses — Amazon, eBay, Zappos, and so on. They all make it easier for customers to buy from them. They remove all complexities between the customer and making the purchase.

Here are some pointers that can help you simplify the conversion process on your website:

  • Tell them what to do next using a powerful call-to-action. Sixads compiled a list of the best examples from around the web for inspiration, so you can go beyond “Sign up for the trial”.
  • Give them minimal options, like pricing plans, product choices, recommendations, etc. that are targeted at their user persona
  • Provide a complete experience of the product or service with a trial plan. The trial plan should ideally be of the highest plan
  • Be transparent with pricing, especially the final bill amount that the user has to pay

Amazon Pay is perhaps the best example to showcase the ease of conversion, ordering, and payment.

In a Nutshell

Building a website and bringing visitors to it itself is an uphill task. All the visitors who come to your website must convert, lest all the efforts go to waste. Your website conversion rate is what can make a difference.

Conversion refers to any goal that the visitor completes on the website. For different businesses, it could mean different things. Also, even within the website, different pages would have different conversion rates. It is necessary to monitor the conversion rate on a regular basis so that corrective measures can be taken without much delay.

The conversion rate optimization techniques discussed above can help with enhancing your website’s conversion rate.


About the Author

Savan Kharod

Savan Kharod is a Digital Marketing Professional at Acquire. He loves to share his knowledge and experience in digital marketing, social media marketing, customer service, and growth marketing. In his free time, Savan likes to backpack and explore new places.