Top Conversion Rate Optimization Strategies for Businesses

Companies are constantly trying to make their websites or even landing pages increase conversions faster, grow website traffic, and meet sales goals.

However, according to research, the average conversion rate for most websites is a little over 2%. There are certain steps companies can take to improve conversions and a website’s overall success.

Conversion rate optimization refers to the improvement of website actions that can result in increased conversions for a business.

Although the most obvious type of conversion is the one that results in a financial transaction, even getting consumers to take the next step in their buying journey qualifies as a conversion.

Data-Driven Decisions

Many businesses find it tempting to assess their website performance through an internal lens, but it’s important to review all high-quality data that is available to achieve a better understanding of the conversion rate.

That means looking into the bounce rates and understanding when, where, and why consumers are leaving the website. It also means looking at the last page that visitors see before they decide to leave the website.

This helps companies understand if there’s something that’s making consumers turn away from them. Companies should also look at the cost per conversion through Google Analytics to learn whether their paid marketing efforts are generating the desired results.

Setting SMART Goals

To improve a company’s conversion rate, businesses should be setting specific, measurable, attainable, relevant, and time-based (SMART) goals.

The process of setting SMART goals can really help companies create objectives that are tangible and that can be used for both short and long-term plans.

Competitor Analysis

Looking at what competitors are doing on their websites can be a great resource for businesses. They can learn more about the strategies that competitors are using to inspire the audience to convert.

That can mean looking at the type of content a competitor is publishing that’s making consumers make purchases, or looking at their SEO strategies in order to understand their SERP ranking.

Companies can even examine how a competitor is utilizing social media platforms to connect with their target audience. Understanding what works for different competitors can help companies apply the same or similar strategies to their own CRO efforts and improve their conversion rates.

Target Audience

According to research, over 40% of companies don’t actually listen to what their consumers have to say. While learning about the behavior of consumers is important, understanding why they do the things they do is a lot more crucial for businesses.

To understand consumers, companies should create buyer personas, which are simply profiles that all customers fit into.

There are plenty of different ways that companies can create buyer persona profiles, from analyzing past customer reviews to looking at existing customer data, conducting surveys or polls, and even conducting interviews with consumers.

When a company has collected enough data through all the aforementioned strategies, it becomes a lot easier for them to build buyer persona profiles, and for them to understand why consumers do what they do they do.

Consumer personas will help brands develop strategies that will convince consumers to convert a lot more often.

Read more from Ronn Torossian

Ronn Torossian on Forbes
Ronn Torossian on DMNews
Ronn Torossian on 5WPR
Ronn Torossian on The Jerusalem Post