What is Conversion Optimization (CO)?
Like most business owners, you’ve probably invested a significant amount of your time, budget and resources to create awareness and drive visitors to your website landing page.
For many the effort stops here.
Obviously the main purpose of getting visitors to your site is to ultimately convert them into customers. Somehow the majority of businesses neglect the conversion portion of the sales funnel. Perhaps it’s due to the mindset of “getting more people through our door equals more sales.”
While this holds true to a certain degree, driving traffic to your site is only the start of the equation.
What happens after visitors land on your site?
You want them to buy your goods, register for your course, subscribe to your newsletter or even download a brochure. These are your conversions, but are your visitors doing what you want them to do?
Here’s where Conversion Optimization (CO) comes in. CO is a process to continuously improve conversion rates for your business – hence increasing your profits.
CO considers the needs of your customer’s first and identifies opportunities to create a positive online user experience motivating them to take action.
But from now on, “Action” = “Conversion”.
The Essence of Conversion Optimization
Conversion Optimization is about understanding people’s motivation. Shift your focus towards improving the quality of your customer’s experience. And the most direct way to do this is to always think from the perspective of what truly motivates them to take action.
By understanding the intention behind your customer’s decisions, you’ll be able to strategically influence them (consciously or subconsciously) to take guided actions that eventually benefits both parties. Your job is to align your goals with theirs. Provide the information they need to make them confident that they’re taking the action that they want, because it’s the action you want them to take. Your goals and your customers goals are the same.
Constant improvement & growth
Once you’ve put yourself in your customer’s shoes and understand the driving force behind their behaviours; the next step is to work on planning, executing and measuring optimization, along with continuous improvement tests that will gain small-medium consistent wins for your business.
With a solid marketing or conversion plan coupled with in-depth data analysis and measurement, the next key element is testing and continuous improvement. In order to keep the growth wheel constantly spinning, you have to increase your corporate metabolism – it is the speed at which your organization can make decisions, adapt, and evolve.
How can my business start conversion optimization?
Let’s be realistic. Every business has limited amount of resources. Therefore, the best way to take your first step is to prioritize. Start testing changes with whatever resources you have available.
Prioritize your conversion improvement tests based on the impact it will have, how much it matters to the company and how much resources (manpower, time, budget) you have.
Remember to balance your investment between Traffic Generation and Conversion Optimization. Elements of CO are things that are on your site vs. off your site -: Usability testing, design, copywriting, web analytics are some examples.
Don’t let the data scare you and paralyse your quest to test. Any business can easily optimize a section of your website almost for free or at a very reasonable cost. Start with little things like navigation, headlines, images, copy, and designs.
Avoid the temptation to begin on a grand scale by doing things like multi-variate testing or slicing & dicing your optimizations and layouts. This takes up a lot of resources. Instead look for opportunities that provide the best leverage – meaning simple small changes that have large impact to your business.
3 Team Building Blocks
If you’re doing CO internally, make a team to tackle it head on. The team can be broken down into 3 main roles.
The power of incremental change
With your team assembled continuous testing and improvements will do wonders for your bottom line.
What’s even more powerful?
Constant incremental improvement. Constant small incremental improvement is like compounding interest. If you test & improve 5% of conversions each month, in a year you would have increased your conversions by almost 80%.
Think about how an 80% boost would impact your sales & profits. Nice isn’t it.
By adopting Conversion Optimisation, you’re on your way to turning your business into a consistently profitable one.