A conversion is the specific action we want visitors to our website to take while they are interacting with our site. It occurs when a visitor completes a desirable action on our site and submits their information. This can happen on a website, on landing pages, in an email, or on any other web channel. Examples of conversions are: Buy, Download, Opt-in, Register Refer a friend, etc.
What is a conversion rate?
Conversion rate refers to the percentage of your visitors that end up taking the desired action. If 100 people land on your site and 10 people take an action, your conversion rate is 10%.
WHY SHOULD YOU CARE ABOUT CRO
If you pay $10 to get 100 visitors and convert 1% of those visitors that is 1 lead or customer. If you increase the conversion rate to 10%, for that same $10 you get 10 customers.
Conversion Rate Optimization (CRO) is the method of getting a higher number of your website visitors to take a specific action on your website. It answers the why. Why do visitors only buy one product? Why do visitors not watch your video? Why is your bounce rate so high? Why do visitors not sign up for your event?
Addressing these questions helps you to raise your conversion rate and generate more leads and customers for your business.
The most effective Conversion Optimization strategies allow your website to achieve:
Reductions in the number of visitors who abandon during the checkout process
A Better understanding of your customer’s behaviour
Identifying opportunities for growth that need no additional budget
Creating a culture of customer-centric decision-making. Know the why
Where are you in your journey?
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