Why traffic conversion is such a big deal? How do I ensure higher conversion rate?
With online businesses, two things matter more than everything else combined – Traffic and Conversion. To put into context, you can consider them to be Demand and Capture. Let me explain. When you’re crafting a new piece of content, or sending another email or posting on an online forum, your primary goal is to generate demand. Once those prospects land on your landing page (or website), you want to capture that demand by converting them to customers. Let me summarize. Demand creation and capture are the two most crucial activities related to online businesses and thus as an internet entrepreneur, that’s where you should be spending most of your time.
Conversion is about helping your customers achieve their goals. Conversion Rate Optimization (or CRO), or higher conversion rate (# of purchases divided by total # of sessions) is crucial since there is a limit to how many new customers you can find. It also allows you to maximize your SEO leverage. Fundamentally, there are two approaches to CRO.
- CRO with Data Crunching
Google Analytics (GA) allows you to tap into complete ecommerce and traffic analytics for your website. You can use GA, along with other tools such as KISSMetrics or MixPanel. Let me summarize some crucial stats that GA provides you in order to improve your CRO.
- CRO with Customer Surveys
Either with or without analytics, I strongly suggest you to poll your audience with some insightful questions. You obviously already know about who your customers are.
Now, in order to improve your CRO, you need to micro segment those customers and figure out what could you do better to enhance your conversions. You can use tools such as Survey Monkey to build great surveys. Another way to seek input, is to build quizzes instead. Quizzes are more engaging and will likely limit the survey bias as well.
Once you come up with some theories to improve your CRO, you can implement and deploy them as A/B (or split) testing landing pages. You can also use tools such as HotJar for heatmaps, live embedded surveys, conversion funnels, checkout form analysis, and even visual recording of what customers actually did after landing on your page.
Last but not least, subject matter discussed in this post, as well as others, is covered thoroughly in various online courses offered by Private Label Mastery. Please feel free to share your questions or comments, I will be answering them over the next few days.