Conversion rate optimization is the art of increasing the number of user actions, such as clicking a submit button or making a purchase on a website or landing page, and it can also be applied to email campaigns. The conversion is defined by a goal where the user reaches a specific page and takes a specific action, such as download, register, fill out a form or take a survey. Conversion rate optimization uses a combination of disciplines from creative design and content, psychology, science and statistics to achieve the goal.
The typical process starts with figuring out where the user is getting blocked from achieving the goal. Next, creative elements are tested to statistical confidence. Finally, the winning design is implemented and the process starts again.
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How Conversion Rate Optimization Improves ROI
Here is an example of a case study of a client who spent $1,000 on advertising, with and without conversion rate optimization. On the original website, they received 500 clicks on their ad at a cost per click of $2. They got 20 leads at a cost of $50 per lead. The outcome is a 4% conversion rate on the website. After optimizing their website with a conversion strategy, with the same 500 clicks on the ad, the cost remained the same at $2 per click. However, they got 25 leads at a cost of $40 per lead. This is a savings of $10 per lead, which is a 5% conversion rate and a 25% lift in conversions. By adding conversion rate optimization, the client’s cost per sale dropped from $250 to $200.
Website Conversion Rate Optimization
Increase your sales with conversion rate optimization