Conversion Rate

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Optimisation of conversion rate is required with the deep study and knowledge we have a case study which says all successful business models are structured to grow and hence provide more profits to the business owners. In the age of online businesses, revenue and growth come from increased conversions. “Conversion” is a term which is used to signify people on your website who actually become buyer/users. They “convert” from site browsers to customers. Typically, the number of conversions is directly associated with the revenue you generate as an online business, hence most businesses take them quite seriously.
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With our background in web design and marketing, we have a proven approach to making changes to your site’s design that can boost conversions.

Conversion Strategy

Conversion, put simply, is getting people; customers, prospects, fans, or the curious, to perform a specific, measurable action. This could be anything from reading a piece of content, downloading a brochure, requesting a quote to buy a holiday through your eCommerce store. 

Rate is how many conversions and sessions you receive per year, your users per month, and page views per minute. Generally, the rate contains three things: a set conversion, per a number of defined activities, over a specific time period. You want the rate to be meaningful and comparable to previous periods so that you can compare month by month, year by year, etc.

Conducting Conversion Rate Optimisation

In order to assess ‘good’, you need to establish where you are now and define where you want to be. For example, if you’re getting 100 brochure requests per month then good might look like 200 brochure requests per month or 300. 

This is really up to you, based on what your business needs to achieve, however, the process is always the same. Benchmark your current performance or, if it’s a new conversion point (e.g. you’ve introduced a new video you would like people to watch), then launch the new conversion point and monitor its performance under the status quo for a significant period until you have enough data to have an initial understanding.

Importance of Conversion Rate Optimisation

Generating traffic and leads is no easy task. The last thing you want to do is lose the opportunity to convert a lead once you have them. CRO gives you insight into why leads don’t convert and what you can do to remedy the situation. In doing so, you’re able to increase revenue and ROI using the traffic you already have.

Analyse Conversion Rate Optimisation

In order for CRO to happen, you have to have a way to collect data on your users, analyze that data, and track it over time. The most efficient way to do this is with an analytics platform like Mix panel. 

Our platform is widely used by companies in many industries to automatically collect data across channels and bring it all together in a single interface for analysis. Out-of-the-box reports make it easy to start the analytics process, but users can customize the type of data that’s collected how data is segmented, and track the results over a specified period.

Increase in online competition

Across the board, there are more and more retailers online, competing for your customers.  Some of them (ex: Amazon) are simply eating away from other smaller retailers. 

That means that if you want to convert your page visitors into customers, you need to have a website that is easy to use and which automatically funnels the visitors towards taking the actions you want them to take (purchase an item or signup for a newsletter). The more competitors there are, the more competitive you need to be.

Effects of social media

Social media (ex: Facebook, Twitter, Instagram, Pinterest) is a great venue for marketing and for connecting with new and existing customers, as well as increasing authority and building loyalty among your customer base. 

Social media has increased the number of page views, but it has also fostered the atmosphere of a shorter consumer attention span. That means that you need to be able to capture and leverage customer interest once you have it.

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