What is Conversion Rate Optimization?
Conversion Rate Optimization is basically increasing the number of valuable actions on the business assets by testing and deploying technical changes.
Conversion Rate Optimization, in simple terms, stands for optimizing your assets such as website, ads, emails and Social Media accounts through rigorous testing to get a better conversion rate from the platforms. This results in higher sales numbers from the website, more form sign-ups, an increase in the number of visitors on the site and a smooth accomplishment of overall business goals.
Understanding Conversion Rate Optimization
Conversions are the goal completions on your digital business assets. It means that valuable actions with respect to your business, such as product purchases, form sign-ups, taking place on your site are technically termed as conversions.
A goal, simply put, is what you as a business owner, want the visitors to do on your site. There are some events that are important to you as a business and you want them to specifically take place, such as playing a video or filling up a form.
When the website visitors fulfill the actions you want them to take on your site, that is counted as a conversion. A conversion action must be explicitly defined in your analytics software in order to keep a track of it and to further process it.
Finding Conversion rate
Conversion Rate is found out by dividing the total number of conversions on the site by total number of visitors that the site received in any given time frame and multiplying the result by 100.
Benefits of Conversion Rate Optimization
Improved Brand Equity
When people visit your site, they can find the things that they are looking for on the internet. This will build brand loyalty and will engage more potential visitors to your website. Conversion Rate Optimization is mainly focused on improving the customer experience.
Improved Search Engine performance
By optimizing your website towards conversions and improving your customer’s on-site experience you will be rewarded by Google with improved search results. Better content, functionality of website and performance all contribute to your search rankings, and which will, in turn, drive more traffic to your highly converting site.
The main aim of doing conversion rate optimization is that every change you implement on your site, which eventually increases your conversions, is an incremental win for your business. Instead, you will get more revenue even with the same visitors on your website.