What Is Conversion Rate Optimization and Its Latest Trends for 2021?

Conversion Rate Optimization

When it comes to digital marketing, businesses can earn revenue in one of two ways, either by driving additional traffic to your site in order to increase sales, or improve the effectiveness of the site to boost sales with the same amount of traffic the site is receiving now. With conversion rate optimization, you can evaluate the website’s sales funnel to identify different ways the website can be improved in order to get a higher percentage of people to sign up for your products or services. Optimizing website experience is important to convert more of your traffic and improve your sales. Associating with a reliable search engine optimization company in New York is a great way to optimize your website to convert more visitors into customers.

Conversion Rate Optimization (CRO) is the process of converting more users that come to your website into customers. The advantages of CRO for your website are:

  • Increases your leads or sales with the same amount of traffic that you already have. This means that you need not spend more money on driving traffic.
  • Enhances your website experience so that a greater number of people can engage with your website and this would increase your chances of converting them.
  • Maximizes the return on investment from your marketing spend and minimizes the cost per acquisition.

Five Trends in Conversion Rate Optimization

  • User Experience will always be King: User experience is an essential element in CRO. Providing excellent digital experience and customer journey is key to improving conversions or sales. As per a May 2020 Google Webmaster Central blog, Google Search will now factor UX signals into its rankings, including new Core Web Vitals. With all these latest updates coming up, Google aims at providing good user experience. Poor user experience can lead to rising bounce rates too. Websites that provide good user experience with get better search visibility. You can also include pop-ups to increase conversion but care should be taken that this doesn’t annoy the users.
  • Good Site Speed is a Must: We all know that if a page takes more than three seconds to load, then users tend to leave the website. The visitors may leave even before considering your offer. According to a recent study by Akamai, “A 100-millisecond delay in website load time can hurt conversion rates by 7%. A two-second delay in web page load time increases bounce rates by 103%. 53% of mobile site visitors will leave a page that takes longer than three seconds to load.” So, if your site speed is too slow, then you will lose your target audience in the first step of conversion. To improve your site speed, there are several tools available today. PageSpeed Insight tool from Google is a popular tool that helps to improve the page speed of your website.
  • Mobile Optimization is also Crucial: Emarketer.com predicts that people have been spending 23 additional minutes per day on their smartphones in 2020. According to Statista, there are more than 3 billion smartphone users worldwide, a number that is expected to rise significantly in the coming years. Mobile optimization has gained popularity over the last few years. This is because of the rising use of mobile phones. At present, mobile responsiveness is an essential SEO factor and also vital for conversion. Today, Voice Assistants and Augmented Reality have also become an important element for good search experience. Google estimates that the average mobile checkout experience requires 120 “taps” (mobile clicks), with a 27% abandon rate. This means a lot of missed potential revenue.
    • Test the User Experience on different Screen Sizes and Platforms: Find out how responsive your website is and find out where the potential snags are for the “lay” user, and these are opportunities for improvement for better conversion rate.
    • Keep it simple: Less is more on mobile phones, asking your consumers to take a lot of data on a tiny screen means asking for increased bounce rates.
    • Make mobile payment easy with apps: Provide payment options with apps like Google pay and Apple Wallet, that let users make payments using their mobile phones.
  • Personalization is Good: If brands personalize the user experience, then potential consumers are more likely to make a purchase. Giving your website multiple personalities is a fast-growing approach, which means planning and building digital experience targeting specific groups of users. You can offer personalization to your audience by providing certain page elements like images, or CTAs depending on the user data. You can also provide personalized email marketing to improve conversion rate. Providing personalized messages and emails to people helps with increasing conversion rate.
  • Trust comes with Transparency: Trust is an essential element and people do not buy if they do not trust you. This means that safety of data is important. In 2020 alone, we’ve seen five million people exposed in a Marriott data breach, 267 million compromised Facebook profiles, and 142 compromised guests in an MGM Hotel breach. So, this year transparency will be more important and also follow these important tips:
    • Disclose data usage loud and clear on your apps and websites. Don’t hide your data usage and privacy policy somewhere that’s hard to find. update your consumers about data usage.
    • Review default data usage settings and give users the option to opt-in. Most users often feel upset when they find out an app or website is automatically tracking their data without their consent or awareness.
    • Invest in secure systems and vendors. Pick a vendor that meets high standards for security compliance and data protection to avoid leakage of sensitive customer data.
    • Inform users of the apps that have been allowed access to data. This is a strategy followed by Twitter, Facebook, and WordPress. They provide information regarding the apps that have been granted access to details such as personal data, contacts, tweets, posts, etc. Some users tend to forget, or are surprised that they have given permission to third parties to access their data on certain platforms. Ensure that this information is made known to your users.

Conversion rate optimization is valuable because it increases revenue and lowers your cost per acquisition. If you are into digital marketing, it is crucial for you to know how your website is performing. An experienced search engine optimization company in New York can help you in your conversion rate optimization efforts and make a huge positive impact on your website.