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Conversion optimization is a marketing technique used to turn visitors into customers, both online and in-store. It involves monitoring and testing to improve stats such as bounce rate and landing page optimization. A/B testing and researching traffic patterns are common methods. In-store, strategies include credit cards, rewards programs, visual design, and product placement. Customer service is also important in increasing conversion rates.
Conversion optimization, also known as conversion rate optimization (CRO), is a direct marketing technique designed to convert existing visitors into customers. This tactic is prevalent in Internet marketing, but conversion optimization is also employed in many stores. Online CRO focuses on reducing the bounce rate, or the rate at which visitors quickly leave the site, by crawling and modifying the site’s layout, advertising, and content. On the other hand, the in-store CRO usually tries to increase sales by focusing on promotion or sale incentives for store visitors as well as customer service.
Website conversion optimization is often considered a process rather than a goal, and involves consistent site monitoring and testing to develop the best marketing strategy. Different sites will focus on improving different stats ranging from bounce rate and landing page optimization to increased traffic and branding. Landing page changes affect visitor first impressions and can help direct potential customers to relevant content pages or optimized sales pages. Increased traffic can sometimes increase the conversion rate, depending on the source of the traffic and whether it is relevant to the theme of the site. The overall goal of conversion optimization is to increase revenue through sales and return on investment (ROI).
There are several methods for testing website layouts or content for conversion optimization. One of the main techniques, known as A/B testing or multivariate testing, involves testing two or more options simultaneously to see which one is more successful in converting visitors to customers. After obtaining enough meaningful data, the most successful layout can be implemented across the site. Another technique involves researching traffic patterns and visitor behavior on the site to develop a customized strategy without spending as much time in test mode.
Stores also implement conversion optimization techniques at various levels. On a larger scale, stores focus on increasing ROI through credit cards, rewards programs, email capture, and other strategies that focus on relationship marketing. In addition, marketing also involves window displays and visual design, such as mannequins in clothing stores, window displays, photos, and the general ambience of the store. Product placement is also a focus; by placing some products at the front and hiding the sale section at the back of the store, stores are more likely to increase the price of each transaction, as well as the conversion rate.
For first-time customers, promotions and sales can provide incentives to make a purchase or increase the price or number of units of your purchase. Conversion optimization is also a huge customer service focus. Salespeople and managers who are properly trained in promoting products in person are more likely to convince customers to make a purchase, thereby increasing conversion rates.
Asset Smart.
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