A business designs a website to felicitate transactions irrespective of the fact whether it involves purchasing products from the site itself or being redirected to elsewhere. These transactions can be monitored and studies statistically. Each transaction involves a process wherein a visitor successfully becomes a customer. This transition is called Conversion. Number of customers divided by the number of visitors drives a percentage known as Conversion Rate.
Every business that is serious about online advertisement aims to get the best out of its Pay-Per-Click Management campaigns, Search Engine Optimization and Email Marketing efforts. It is possible when there is a higher conversion rate.
Conversion rate is the process of creating an enriching experience for the visitors with an aim o converting them into customers. However, sometimes the website owners take the liberty of persuading the visors to take the desired action like filling a form, buying a product or subscribing to a mailing list.
Features of Conversion Rate Optimization:
- It is an art and a science.
- Goal is to persuade visitor to purchase a product, subscribe to a newsletter or submit an inquiry.
- It is a methodology and not a technique alone.
- It uses various techniques to achieve the goal of converting a visitor to a customer.
- Conversion rate is the most critical statistic about a website.
- Conversion has a direct impact on the profitability of the website.
- Low conversion rate means few visitors converting into customers.
- High conversion rate reflects higher number of visitors turning into customers.
- Conversion rate determines and describes the success or failure of the website.
Benefits of Conversion Rate Optimization:
- Websites using the services benefit in terms of increased profits between 50 to 200 percent or more.
- Conversion rate optimization works by measuring different variable of the website.
- Conversion rate optimization takes into consideration various elements of the website like title, color, headlines, buttons, graphics and layouts.
- Each element of a website is a potential sales point for a customer.
- Conversion rate optimization helps take an online business to great heights.
- It helps generate more sales for the same advertising budget.
- It helps take customer acquisition cost down.
- It helps in higher customer retention .rate goes up.
- Its effect is long lasting.