Is there one magic answer to increasing your website’s conversion rate? Sadly, no. There are, however, a number of factors that can affect how many visitors turn into customers. In this article, we will take a look at some of the statistics around CRO (conversion rate optimization). We’ll offer conversion-boosting techniques any website can use.
Conversion Rate is Greatly Dependent on:
Conversion rates are greatly affected by the interests of your website visitors. If you want to boost conversions, it’s important to understand what interests your target audience so that you can cater to those interests. By doing so, you’ll be more likely to convert and make your website more successful overall.
Sounds obvious, doesn’t it? But truly understanding the subtle, and at times, hidden nuances of visitor interests can be challenging. Many digital marketers miss the mark completely when it comes to aligning with their prospective audience.
But you’re probably wondering how you can be sure you’re hitting the mark understanding your visitors’ interests. The Google Analytics tool is a helpful resource for loads of information about your site visitors.
Attractiveness of Your Offer
You may be wondering how you can make your offer more attractive to potential customers. If your offer isn’t attractive, people are less likely to convert.
Here are a few tips to make your offer more attractive for higher conversion rates:
- Use images. People are visual creatures, and an image can be worth a thousand words when it comes to attraction. Make sure the images you use are high quality and relevant to your offer.
- Be clear about you’re offer. Vagueness will only turn people away. Be specific and simple. Let people know exactly what they’ll get when they take you up on your offer.
- Be different. If you offer what nobody else offers, and your value stack is bigger than your competitors value stack, you are sure to turn some heads. Not incongruent different. Not weird different. Better different. No brainer different. Be like Costco.
User Experience (UX)
You’ve likely heard that user experience is important for things like website design and conversion rates. But what exactly is user experience, and how can it impact your conversion rates?
User eXperience (UX) is all about how a person feels when using a product or service. This includes everything from the initial interaction to continued use. A good UX is important because it will keep people coming back to your site or product. On the other hand, a bad UX will drive people away.
So, how does UX impact conversion rates? Simply put, the better the UX, the higher the conversion rate will be. This is because people are more likely to convert if they have a positive experience with your site or product.
How about a little magic potion of what features formulate the best user experience? You should have:
- Fast site speed.
- Easy navigation.
- Responsive design.
- Humanized Copywriting.
- CTA buttons.
- Landing pages.
Important Conversion Rate Statistics
Marketing Researchers devote a significant amount of time to organizing, developing, and implementing tests, as well as assessing the outcomes. They are continually working to improve KPIs and outcomes.
Whether it’s figuring out the ideal subject line for a higher open rate, the perfect CTA and creative combo for click throughs, or shaving time off your website load time to lower bounce rate, let’s take a look at some important CRO statistics.
- A/B testing is the most common type of CRO testing, with 56 percent of marketers employing it.
- 7 out of 10 CRO marketers use the results to guide further marketing activities.
- Roughly 22 percent of companies are happy with their conversion rates.
- A normal website conversion rate is around 2.35 percent.
- A Facebook ad’s average conversion rate is 9.21 percent.
- Videos on landing pages can boost conversions by 86 percent.
- Companies who increased their conversion rates last year performed 50 percent more tests and used 47% more approaches to boost conversion.
- Businesses with more than 40 landing pages produced 12 times the number of leads as those with 1-5 landing pages.
- When companies raise the number of landing pages from 10 to 15, they experience a 55 percent boost in leads.
- More than 90 percent of visitors who read headlines also read CTA copy.
- More than 20 percent of firms indicate that they lack an effective approach for landing page testing.
What Drives a Higher Conversion Rate?
Higher conversion rates are the result of a well-executed marketing strategy. By targeting the right audience and offering them something they want or need, you encourage more people to take the desired action. Additionally, making it easy for potential customers to find your website and navigate your pages can also boost conversion rates.
Here are some tips for driving higher conversion rates:
- Know your target audience.
- Offer something they want or need.
- Make it easy for them to find your site and navigate your pages.
- Use persuasive copy and calls to action.
- Test, test, test! Try different techniques and see what works best for your business.
Factors that Affect Conversion Rate — Your Ads or Your Website
If you’ve been in business for any length of time, you already know that conversions are the key. What’s the use in spending all that money on ads or designing a website that looks great if no one ever converts?
But what causes people to convert? Is it the design of your ad or your website? The wording? The offer? It can be hard to figure out what’s working and what isn’t. Let’s examine some of the factors that affect conversion rate so you can start seeing better results.
Your value proposition is what affects your conversion rates in advertising. In order to have higher conversion rates, you need to make sure that your value proposition is strong and clear. There are two factors that affect your value proposition and, as a result, your conversion rates.
The first factor is the offer itself. The more compelling the offer, the more likely people are to convert. Make sure that your offer is addressing an actual pain point (Money, Energy, Time). Avoid discounting in lieu of value stacking.
The second factor is the audience. If you have been running a branded campaign in alignment with your lead gen, then stick to a message consistent with your branding and appeal to the relational buyer. If all you want are Transactional Shoppers, then focus your copy on the things that appeal to people looking for the lowest price. This matters a lot if you haven’t been running a complimentary branded campaign that would give a person a reason to measure on something other than price.
Making your ads relevant to your target audience is one of the most important factors in achieving higher conversion rates. If your ad is not relevant to the user, they are less likely to click on it and more certainly going to ignore you.
There are a number of ways to make your ads more relevant. These include targeting specific keywords, customizing your ad copy, and using relevant images.
When it comes to advertising, relevance is everything. Making your ads relevant to your target audience significantly improves your chances of converting them into customers or leads.
Relevance becomes far more meaningful when you run a well crafted branded campaign that brings more and more brandable chunks to the forefront of the conversation and reticular activator.
Clarity and Concision
It’s no secret that clarity and concision (eliminating redundancy) are important factors in advertising. If your message is clear and concise, people are more likely to understand it and take the action you want.
Virtually no one understands your products, services, and website, so it’s really important to make it as understandable as possible. Short, sweet, and to-the-point is how we roll.
It’s no secret that conversion rates are important for any business with an online presence. Conversion rates are what determine whether or not your lead generation is effective. Credibility plays a big role in conversion rates. Studies have shown that credibility can increase conversion rates by up to 200%. So yeah, it’s kind of a big deal.
So, what makes a website or advertisement credible? There are a few key factors, including design, customer reviews, and testimonials.
For example, a well-designed website or an advertisement with a landing page is more likely to be seen as credible than one that looks like it was slapped together quickly without much thought.
Sense of Urgency
Creating a sense of urgency is one of the most effective ways to increase conversion rates on your ads or website. By limiting the time or supply of a specific solution, you can encourage people to take action now rather than later.
There are a few different ways to create a sense of urgency. Be specific, because when you use unsubstantiated claims like, “act now”, or, “while supplies last”, you just look like an asshole. Instead, tell a story about a specific quantity buy, where, when they all run out, they gone. Like, gone gone. This is known as a feature buy, and doesn’t need to be a discounted price to sell, it just needs to be an accessible price.
Another way to create urgency is to offer discounts for a limited time only. This can be an effective way to get people to buy now rather than wait, but you will both lose your credibility as a company with integrity and you immediately eliminate you chance of making it into the long term memory of the buyer when it does come time that they need your services. If you are desperate to fill the board with appointments, a limited time offer with a ridiculously aggressive price are always a last ditch effort. Just be carful not to get addicted to the false hope they are instilling in you, even as we speak.
Best Practices in Improving Your Conversion Rates
- Remove all extraneous form fields.
- Insert relevant branding.
- Remove all distractions.
- Make the first step as simple (and cheap) as consistently possible.
- Include a third-party sign-up service.
- Improve your CTA.
- Include live chat on your website.
- Consider a more relevant offer to actual pain points.
- Provide a risk-free guarantee.
- Include a countdown timer (#dangerzone).
- Start with the small sale to gain their trust and loyalty.
- Run A/B (split) tests.
What’s Your Conversion Rate?
If you’re not sure, don’t worry, you’re not alone. Accurately measuring conversion rates can be tricky to calculate, and even trickier to improve.
We’re here to help. We’re happy to walk you through everything you need to know about conversion rates, including what to measure, how to calculate them, and what you can do to boost your conversions. Book a call with Wizard of Ads™ when you’re ready to increase conversions.