Conversion rate optimization seeks to increase the percentage of website visitors that take a specific action (often submitting a web form, making a purchase, signing up for a trial, etc.) by methodically testing alternate versions of a page or process. In doing so, businesses are able to generate more leads or sales without investing more money on website traffic, hence increasing their marketing return on investment and overall profitability.

So a conversion is really just another word for making a sale. Whenever someone actually ends up buying from you, that is counted as a conversion.

A conversion rate is defined as the percentage of visitors who complete a goal, as set by the site owner. It is calculated as the total number of conversions, divided by the total number of people who visited your website.

For example: Your website receives 100 visitors in a day and 15 visitors sign up for your email newsletter (your chosen conversion to measure). Your conversion rate would be 15% for that day.

What options do you have, if you want to increase revenue from the online shop? You could:

• Buy more ads, for example with Google Adwords, until you get 20% more traffic to the shop (terrible idea).
• Do targeted SEO, trying to increase traffic by 20% (takes forever and costs a lot if you don’t do it yourself).
• Hire 10 more marketing people and hope they figure it out (didn’t you want to make a million, instead of spending one?).
• Offer 20% more products (so basically come up with a ton of new stuff to sell).

• They’re all “more options”. They take more time, more money, and more resources, while leaving the results completely unpredictable.
• Herein lies the magic of the conversion rate: You just optimize what’s already there and thus create more profit from your existing customers and traffic.

A retailer has 10,000 visitors per month. On average 350 buying people per month with an average purchase of $125. A conversation rate of 3.5%. Sales = $43,750/month

Let’s say now that after a few website improvements 420 people, out of the 10,000 visitors, are now buying. A conversion rate of 4.20%. Sales = $52,500/month. An increase of $8,750/month x12 = $105,000/year.

Would you spend a few thousand dollars on Adaveo, if it made you $105,000 more per year with improved conversion rate? Of course, you would.

Your conversion rate is the easiest way to increase profits for your business and that’s why it’s so important to optimize it.

1. A/B testing

A/B testing determines what really works and what doesn’t. Think of it as conducting a scientific research study. You can test different factors, like headlines, colors, buttons, website design, calls-to-action, font size and more.

The key with A/B tests is to change only one thing from variation to variation.  This is a cornerstone of conversion rate optimization. For example, if you change the placement of the button, the image and the copy from version A to B, and B actually performs better, how can you know what it was that improved your conversion rate?

2.  Use “everyday” language

If you go to the canteen in your office during lunch break and you meet a new co-worker, what do you do? You ask them about their job, of course! Let’s say you both work at a company that manufactures security cameras.

You: “Nice to meet you John.  So, what do you do here?”

John: “I’m responsible for creating a new line of thermal security cameras. So far, we’ve launched 2 of them.”

You: “Wow, that’s cool.  How are these different from our regular ones?”

John: “Well, they can tell you the temperature of each object or person that they film, from -40 up to 1000 degrees F. Plus, these things recognize what the object is and even tell you when its temperature is not within the normal range. They also work in complete darkness, smoke or fog and aren’t sensitive to glare from bright lights.”

You: “They can tell if my body temperature is more than normal? I had no idea we were building stuff that is so awesome!”

After lunch you part ways and John proceeds to set up the landing page for one of these two new cameras.

Here’s what John writes:

Weatherproof thermographic POE camera for detection plus a 6 MP sensor module for identification.

The modular design of the M15 system platform ensures maximum flexibility for theMOBOTIX thermographic camera. The M15-Thermal comes standard with a thermal image sensor and a dummy module (to remain weatherproof to IP66).

In addition, it is possible to use any MOBOTIX sensor modules (6 MP, color or black and white, telephoto to Hemispheric, with or without long-pass filter/LPF) in the M15-ThermaI for identification. Camera software is then used to activate the dual image display on one of the two image sensors (thermal or standard) or both simultaneously.

3.  Create a sense of urgency, to make your customers take action

Telling your customers that they have a limited time to act will help them make a purchasing decision. The paradox of choice suggests that if we face too many options, we often choose none, creating urgency can help to mitigate that risk.

Here are some of the best strategies for building urgency:

• Highlight low stock – If there is a limited number of items remaining, display the available figure next to the Call To Action.
• Clearly show sale or discount end dates (preferably with a countdown timer) – If a discounted or sale price is only available for a limited time, let customers know how long they’ve got to make a purchase. Also, consider including the original price next to the current one.

A great study that underlines this, is “the jam study”. Conducted by Dan Ariely, a behavioral economist, the study tested how offering a greater variety of products would influence purchase decisions.

100 Conversion Optimization Case Studies

The wide array of choice paralyzed them and left them making no decision at all. Urgency is one way to handle this. By letting your customers know that some options will disappear soon, they are more likely to select them, ignoring the big selection that’s available. You could do it by keeping sold-out items on display for example.

4. Make sure your web Site is concise
    Take a tour and remove what is not essential.


5. Adjust your calls to action (CTAs)
    Make it easier to understand and more prominent for your visitors


6. Make your web forms shorter
    A lengthy sign-up process can annoy customers.


7. Clarify your company’s value proposition
    So that the benefit you provide is clearly comprehensible.


8. Boost the incentives
    Offer up a promotion or giveaway to encourage prospects to engage with your brand.


9. Create step-by-step instructions
    Find opportunities to guide your customers through the sales process.


10. Improve trust
Implement trust signals through social media details, membership stats, testimonials, or client logo. There are many ways to boost your conversion rates, but starting with the easiest wins will help you build momentum to start off.


11. Showcase Positive Reviews, Testimonials, Media Mentions and Celebrity Endorsements
Research shows that reviews boost conversion and sales. But most review sections are below the fold. To ensure that all visitors see your best reviews, showcase a selection of them in the product description area.

Here are a few tips for bringing maximum attention to your reviews:

• Show an average star rating of all reviews beneath the product title – The “aggregated review rating” is a major product page element and should be included directly below the product title.
• Show the logos of publications and websites products have been featured in – If your products have received any mentions on popular websites or in print publications, include a logo of the publication in the product description. Affiliating yourself with well-known brands builds trust and authority.
• Include a short quote from a review – Most customers will check out the review section of a product before buying. But you can kick-start this process by highlighting some of the best reviews you’ve received by including short quotes in your description.

12. Ensure Images Are High-Quality and Showcase the Most Important Features
Images can make or break a product page. There’s nothing worse for a customer than landing on a product page only to be met by low-quality images.

Here’s a quick checklist for your product images:

• Does the zoom function work? When the zoom function is used, images shouldn’t fill or flow off the screen. It should also be easy for users to scroll across the image (to see other details) and minimize it.
• Are images of a high-resolution? Using only high-resolution images makes it easy for customers to see specific details and also communicates professionalism.

13. Include “Trust Seals” and Payment Options Next to the CTA
This is a simple but important tip. Many customers worry about handing over their payment details, especially if a brand isn’t well-known. Adding a payment “seal” can mitigate this hesitancy because many seals include images of well-known and trusted brands.


14. Limit Unnecessary Clutter Like Social Media Icons
Your product pages have one goal: to encourage customers to click the Call To Action. Limit distractions by removing unnecessary navbar items and links to other pages. You can ask customers to join your social media accounts after they’ve made a purchase!


15. Optimize for Mobile
It’s expected that by the end of 2021 over 50% of Ecommerce sales will be made through mobile devices. The need to optimize for this huge channel can’t be overstated. Ensure you optimize mobile product pages in the following ways:


16. Hone Your Copy (Product Descriptions)
Product descriptions are crucial. A well-crafted description will inform and delight customers, increasing their desire to buy.


17. Wipeout all concerns, upfront
Address all potential questions or concerns your customer may have. You can do that for example with a FAQ (Frequently Asked Questions) page.

Why should you considerusing Lve Chat?

When live chat was first becoming popular, it made so much sense to me. There’s a lot of power in being able to interact directly with customers in real-time on a homepage or landing page. It also helps you build personal connections with your customers. If customers can reach you directly for a personalized response, they’ll automatically be biased toward you.

Why live chat works
In marketing, I think it’s absolutely critical to know why things work. That way, you can understand why you succeeded and replicate those successes. Live chat is no exception. So let’s take a look at exactly why live chat works so well. At first, a live chat box looks unassuming, and many times it might be hiding in plain sight. Here, it’s hiding in the little comment box in the lower right-hand corner.

Live chat is super convenient.
When customers want to learn about a product or service, live chat is one of the easiest ways to do that. A chat box sits calmly in the corner of the screen (usually the lower right corner) until the user decides to bring it up. And when someone types in a question, that question usually gets answered in a flash. That’s why most people (about 79%) Use Live chat.

Live chat helps in the customer’s decision-making process.
Many times, customers who use live chat are either considering making a purchase or in the process of making a purchase. Communicating with customers at this point is crucial, and it works.  That’s right––the simple act of answering a customer’s question can mean the difference between a sale and a bounce.



Conclusion
Now you know what a conversion rate actually is and why conversion rate optimization is so important. In your business, revenue is your most important success indicator. Conversions are the next best thing. If you can increase the percentage of people who end up becoming paying customers, you can quickly increase your revenue and grow your business.

The only question is… When will you start?