conversion rate optimization 101 - converting visitors in to buyers

Conversion Rate Optimization 101: Converting Visitors in to Buyers

What? Why? How?

“a method of continuous improvement of the website experience with an objective of converting visitors into buyers.”

Conversion Rate Optimization is……..

Why Conversion Rate Optimization?

Because…….

Because….

It Reduces Cost of user acquisition.

Traffic X Conversion Rate = No of Customers10000 X 1% = 100

To create the same number of customers at a conversion rate of 2%

5000 X 2% = 100

At Average CPC of 30 INR CAC in first case 3000 while for the second case is 1500.

Avg CPC = 30

• It directly impacts the top line.

Because…….

Traffic X Conversion Rate = No of Customers10000 X 1% = 100

To create the same number of customers at a conversion rate of 2%

10000 X 2% = 200100 More Customers without improving

traffic.

Because….

Driving traffic to your site will only get more expensive.

Because…..

Your competitor is not doing it.

Your competitor is interested in beating you in traffic as he doesn’t know your conversion rate.

You kill him silently by improving your site conversion rate.

Totally Irrelevant

Build Buyer Personas

Drive Targeted Traffic

Build Great Site Experience

Build A Measurement Plan

Test Your Assumptions

Learn

Prioritize and Implement

7 Step Conversion Rate Optimization Process

Age Gender Income Education

Pain points Job Title Company

Drive Targeted Traffic

Build A Great Site Experience

Have A Measurement Plan

Business Objectives Strategies KPIs Segments Targets

Test Your Assumptions

Learn Fast

Prioritize ActionsImpact Time Effort Internal

DependenciesExternal Dependencies

Priority

Action 1

Action 2

Action 3

Priority Formula : Impact*Time*Effort – (Internal + External Dependencies)

Use a scale of 1-10 to define each column

Implement

What specific

action to perform?

How will the specific

action improve

the business?

Who is responsible

for the action?

By when should the action be

performed?

Conversion Rate Optimization: Things To Remember

Conversion rate optimization is NOT just landing page optimization.

It is NOT a one time thing. It is a process of continuous improvement.

Plan

MeasureImprove

Your boss won’t ask you do to CRO but he likes more Money

Lets Talk…..