CRO: Convert Your Website into 24/7 Sales Engine

Introduction to CRO

1. What is CRO?

It is a process of converting the maximum percentage of website visitors into leads or customers.

2. What is a Conversion?

Any interactions like lead form submission, Account Signup, Newsletter Subscription, Online purchase, etc. that is valuable to the business is considered as conversion.

3. How to calculate conversion Rate?

1. Conversion Rate: No. of Conversions/ No. of website visitors * 100.
2. Example:  If a website has 100000 visitors/month & generates 10000 conversions per month. Then the conversion rate of the website is 10%.

Note: Conversion rate might decline even though the website traffic and number of leads generated improved.

‍Example: In January, if 100000 people visit a website & out of which 10000 converted as lead. Then the conversion rate is 10%. In February, if 150000 people visit a website & out of which 13000 convert as lead. Then the conversion rate is 8.67%.

4. On what pages CRO Strategy can be implemented?

The conversion rate optimization strategies can be implemented on any page throughout the website depending on the business type, Industry, etc. A couple of popular pages for conversion rate optimization are:

1.  Home
2.  Product
3.  Services/Solutions
4.  Blog
5.  Pricing
6.  Contact
7.  Event Landing Pages.

Examples of Conversion Rate Optimization Strategies:

1. Text CTAs:

Brief: A clickable text within the page linked to the respective resource.

Example:

Landing page: Link

Conversion Type: Email Acquisition

Offering: Free Guide

2. Button CTAs:

Brief: Clickable CTA buttons to submit a form, download a resource, etc.

Example:

2. Landing page: Link
3. Conversion Type: Antivirus Software Download
4. Offering: Free Antivirus Software

3. Banner with CTA within the body of the Content:

Landing Page: Link

Conversion Type: Lead Acquisition (Email Id)

Offering: Download Whitepaper for free

4. Full Screen Image Popup CTA:

Brief: A full Screen image popup with clear CTA for signup with background blurred.

Example:

Landing page: Link

Conversion Type: Acquire Lead (Signup for account)

Offering: Free Trial

5. Form Fill Popup CTA: 

Example:

Landing page: Link

‍Conversion Type: Newsletter Subscription

Offering: Free updates

6. Inline Banner Strip:

Brief: Banner strip embedded within page content.

Example:

Landing Page: Link

‍Conversion Type: Newsletter Subscription & Fullscreen Popup -> Formfill

Offering: Free Updates

Choose Right Conversion Type based on Content Funnel Stage:

Steps to Implement Conversion Rate Optimization:

1. Understand the business & its conversion funnel.

2. Identify a page with relevant non-branded organic traffic.

3. Map the page to the right content funnel stage (TOFU/MOFU/BOFU).

4. Identify the gaps:

• Does the page’s funnel stage match with the current conversion type?
• Does the page’s context match with CTA copy?
• Are current CTAs interrupting the user engagement?

5. Find the solution:

• Find the available resources like images or infographics, Reports, E-books, Whitepaper, etc.
• Analyze the top ranking competitors for Conversion optimization ideas.
• Once you find the best conversion type for the page, implement it.

6. Evaluation & Iterate:

• Checkout the current tracking system before the CTA changes go live.
• Evaluate the impact of each CTA technique on the respective conversion KPIs.
• Continue A/B testing till you find the best combination of CTA type, CTA copy for the specific conversion on the page.

Optimized VS Not Optimized Pages (Examples)

1. Side CTA button must be sticky.

Problem: Side CTA button is not visible when scrolled down the page.

Example:

Landing Page: Link

‍Wasn't Optimized: Video Link

‍Landing Page: Link

‍Optimized for Conversions: Video Link

2. Banner within Content:

Problem: Missing CTA on the banner

Example:

Landing Page: Link

‍Optimized for Conversions:

Landing Page: Link

Wasn’t Optimized for Conversions:

Conversion Rate Stats at Industry Level (B2B, B2C)

As per FirstPageSage, conversion rate for B2B industries are as follows:

3 Factors that influence conversion Rate:

• CTA Relevancy: Depending on the page’s context & the content funnel stage, choose  a best fit CTA type.
• Visual Prominence: Ensure the CTA buttons are in appropriate size, color & position on the page.
• Technical Health: The page must be mobile responsive, load fast, etc. post user interaction.

Is the conversion optimization process the same for all stages of the funnel?

The approach remains the same but, Conversion type varies depending upon the stage of the content funnel (ToFu, MoFu, BoFu). 

For example: 

• Newsletter subscription is a relevant CTA on Top of the funnel content.
• Signup for an event or webinar is a relevant CTA on Middle of the funnel content.
• Signup for a free trial is a relevant CTA on Bottom of the funnel content.

10 proven examples (CTA) to give high conversions

1. Lead Generation: "Sign Up for Our Newsletter" or "Download Our Free Ebook."
2. Form Submission: “Submit Now”
3. Product or Service Discovery: “Request a Demo” or “Explore all features”
4. Sales: "Buy Now" or "Add to Cart."
5. Content Engagement: "Read More" or "Watch Now."
6. Event registration: "Contact Us" or "Get in Touch."
7. Download CTAs: "Download Now" or "Get Your Free Resource."
8. Subscription: "Start Your Free Trial" or "Subscribe Now."
9. Feedback: "Leave a Review" or "Share Your Feedback."
10. Account Creation: “Signup for Free” or “Register for Free”.

Prerequisites for CRO:

• The page must generate decent traffic.
• The Technical health (mobile friendliness, load speed) of the page must be good.
• Analyze the performance of current conversions on the page, if any.
• Understand the demography of the page visitors.

Post Implementation of CRO Strategy:

• Crosscheck if the track system is able to capture conversions as expected.
• Analyze the technical health of the page.
• Closely monitor the conversions on the page.
• Continue A/B test: CTA Type, positioning, Text, etc until there is a conversion rate improvement.

How to Improve Conversion Rate?

• Post implementing the CTAs, monitor user behavior using any heat map tools to understand the funnel drops.
• Always A/B test - Conversion Type, CTA technique, copy, etc. to find out the best combination that generates the maximum conversions.
• Pre and Post evaluation of changes is must to understand  - “what’s working & not?

Key Pointers:

• We can test any type of lead acquisition technique at any stage of the conversion funnel. But, depending upon the blog context, the CTA copy must vary.
• Many CTA techniques can be tested for the same or different conversion action at one time.
• The lead form fields can’t be more than 3.
• Direct/guide the website visitors to conversion action on the page.

FAQs

1. What is the difference between conversion rate optimization and SEO?

In CRO, we optimize conversion funnel rather than content on the page.

2. Is conversion rate optimization worth it?

Yes, with conversion rate optimization we can identify the opportunities to scale the conversions on the website.

3. How does conversion rate optimization affect customer acquisition cost (CAC)?

By practicing conversion rate optimization, with the same amount of website visitors, we can improve the conversions. That’s how CRO has a positive impact on CAC.

4. What % of conversion rate is good ?

Conversion rate varies from industry to industry. On an average, 2 to 5% is a good conversion rate. 

Conclusion:

CRO is a tactic to acquire more conversions through current traffic. This improves conversion rate & CAC as well.