You can do the same for any other conversion rate. Just replace the total number of transactions with the total number of email signups, webinar attendees, or any other metric. You can also replace the total number of website visits with the total number of visits to that website.
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What is conversion optimization for websites?
Once you know your conversion rate, you’ll want to increase it. It’s only natural. Conversion Rate Optimization (CRO) refers to the process of improving every element of your website to boost conversions.
Even the smallest thing can affect your conversion rate. For example, the background color of your call-to-action button can either convince people to convert or fail to grab them completely. A/B test different colors to see which one works best for your audience.
2018 05 24 08 23 58 WindowWhat is conversion optimization for websites?
You see this all the time in brick-and-mortar stores. For example, retailers use end caps to highlight products they want to sell. They may include a large sign advertising a discount on those products.
Since end shelves are more visible than longer shelves, they are more likely to attract customers.
The same concept applies to your website. The benefits of conversion rate optimization include more sales because you are guiding buyers to their desired destination.
It’s also a guessing game—at least initially. When you first start the CRO process, you don’t know what will resonate with your audience, so you make an educated guess.
However, as you collect data, your estimates become more grounded in reality. You begin to understand your audience and their needs and desires, making it much easier to deliver the right offer at the right time.
Benchmarks are essential for any business. We’ll get to the benefits of conversion rate optimization soon, but first you lawyer database need to know why you’re measuring your conversion rate.
Imagine for a moment that you own a buffet restaurant. You serve numerous dishes on warming pans in the center of the restaurant, and guests serve themselves what they want.
If you're not careful, you can easily run your business into the ground.
For example, if you make tilapia and put it on a warming pan for guests to eat, you want to know how many of your guests actually eat the tilapia fillet. If no one eats the tilapia fillet, you're spending money on fish that will end up in the trash.
Every time someone serves a tilapia fillet, that's a conversion. Your customer saw and accepted the offer. Therefore, you made money on that fillet. Ideally, you want to know what ratio of customers will take a tilapia fillet so you know how many to make each night without spending money.
It's the same with websites. You need to know how many people will accept your offer compared to the number of people who visit your website.