What is Conversion Rate Optimization?
- Why are ecommerce conversion rates so low?
- What is the average checkout conversion rate?
- How does website speed optimization influence conversions?
- What are the best conversion rates?
- What are some tips to increase the website’s conversion rate?
- What are the best ways to increase ecommerce conversion rates?
- How much has AMP increased your websites conversion rate?
- What’s a good conversion rate for an e-commerce fashion store?
- What is a good Google AdWords conversion rate?
- How did you become a conversion rate optimizer?
- Why is conversion rate optimization so important?
- What is a good lead conversion rate?
- Who are the best conversion rate optimization agencies in Sydney Australia?
- How to charge for conversion optimization?
- How did you land a career in conversion Rate Optimisation?
What is so special about CRO?
What is conversion rate optimization and what terminologies are important in CRO?
How to set CRO Goals?
Let’s have a closer look at a few scenarios and see how can you optimize your conversion rates.
Scenario #1: Increase Revenue:
If your goal is to increase your revenue,
then the conversion rate you must look into should be
the number of customers who bought your products, packages, or solutions VS the total number of people who showed interest in it.
What Is a Good Conversion Rate that I should expect? What E-commerce Conversion Rate Optimization Tactics should I use on my business? The questions that you need to ask yourself and your team are here:
(Obviously conversion rate varies from industry to industry, butt it is necessary to know where you are heading>.
- What is a realistic conversion rate for a new website?
- What is Conversion rate optimisation?
- What is the average conversion rate for online retailers?
- What is website conversion rate?
- What is the growth of conversion rate optimization?
- What is the conversion rate in SEO?
- What is the best SEO agency in sydney that focuses on CRO?
- What are some top strategies for conversion optimization?
- How to increase the conversion rate on a mobile website?
- What is website conversion rate in digital marketing?
- What is conversion optimization?
- Which tools do you use for conversion rate optimization?
Scenario #2: Get more Leads
In case you are trying to get more leads and engage them in your sales funnel,
you should monitor your conversion rate base on
the number of people who are approached (or they might approach you) against the number of qualified leads.
Scenario #3: Brand Awareness
In the event that you are looking for better brand awareness,
then you should not be looking for tangible results in short term.
However, if you implement re-targeting strategies (I’ll get to this soon), you can monitor your ROI conversion rate.
<span “=”” rgb(27,=”” 3,=”” 3);=”” font-weight:=”” bold;=”” font-size:=”” 20px;”=””>Conversion Funnel Vs Sales Funnel
When it comes to advanced growth hacking, and scaling your business
Your sales funnel should look like this.
You must define your source of traffic,
And drive each customer segment to the right landing page.
In many businesses, their sales funnel looks like this:
The first step is acquiring leads.
It normally happens by getting in touch with customers,
either through cold calls, email campaigns or face to face meeting, etc.
As soon as you have the lead’s attention
you’ll focus on proving your value proposition
and convert the lead to opportunity. (It means the lead is interested in knowing more about your offer)
Then, once you anticipate that the success rate and probability of closing the deal
you’d go ahead and pitch the customer and sell your product or service.
(There are a lot more to it but since this article is not about sales strategy, I simplified it as much as possible)
The conversion funnel is somehow different
In general, conversion funnel has 4 phases:
In the early stages, the customers will get to know about your offer, and your business
If they are interested, they will research about your product, your promise, and indeed your business conduct
If you manage to build a good reputation, and they hear good things from others, they will most probably try your Offer
Once your service is proven to be worthy of what you charge for, and can address their pains and gains, they will then make a payment and buy your core offer.
Now if you are here for a long haul and take care of your customers, and if they really like your product, they will recommend it to others or tell others about it, which leads to referrals and new customers.
Implementing conversion optimization strategy and aligning it with your sales funnel help you supersize your packages, and increase your revenue.
But it all goes back to your your business model, type of product, and nature of your business.
Let me walk you through one example.
Let’s say you run an online business, have built your web page with good load time and included social proof, and you have also implemented the Bait & Hook business model THat I spoke about in Business model patterns.
The first thing that you’ve setup to get your customer’s contact information is your lead magnet,
And your lead magnet is a free report, or a free download, or a free trial, etc.
Something that does not cost you much to create,
And customers can get it instantly, for free.
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At least misery loves company. It’s rare to find someone who actually enjoys a workday clogged with meetings — partly because we’re conditioned to hate them, according to organizational psychologist Joseph Allen, and partly because so many of them are just plain bad.
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Simply the misery loves company. It’s rare to find someone who actually enjoys a workday clogged with meetings — partly because we’re conditioned to hate them, according to organizational psychologist Joseph Allen, and partly because so many of them are just plain bad.
|Martin||$1||Because that’s all Steve Job’ needed for a salary.|
|John||$100K||For all the blogging he does.|
|Robert||$100M||Pictures are worth a thousand words, right? So Tom x 1,000.|
|Jane||$100B||With hair like that?! Enough said…|
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