If you’ve been working in the online world, the term “conversion rate optimization” must be so common that it sounds like a phenomenon.
Conversion rate optimization is critical to both online and traditional businesses. But in an era where every tiny bit of our lives takes place online, it’s essential for us, the business people, to understand the term and have the ability to apply to our firms.
What is conversion rate optimization for eCommerce?
When it comes to eCommerce, a conversion is broadly defined as the completion of a specific action that a website owner expects their website visitors to take. Based on this, the term “conversion rate optimization” can easily be interpreted as the process of improving a website to increase the rate of conversion.
Conversion rate optimization is the process of improving a website to increase its rate of conversion.
Benefits of conversion rate optimization
Make the most out of online traffic
Driving traffic is probably the first thing to cross your mind when it comes to boosting revenue. Undoubtedly, traffic is critical. But only with a decent conversion rate does traffic make sense to revenue. Without being eventually converted into some kind of (potential) customers, store visitors contribute little value to your business.
That clarify the reasons for conversion rate optimization:
Traffic to websites needs to be converted to actually deliver value to your business.
Reduced cost per acquisition
Once your website is optimized to convert visitors, new customers take less time, human, financial and infrastructural resources to be acquired. The overall cost will be reduced, resulting in an increase of net benefit.
Needless to say, with a stable conversion rate, you can focus your effort on driving traffic to websites. High traffic will be accompanied by increased sales and revenue.
Conversion rate optimization best practices
Below is the ultimate conversion rate optimization guide, compiled based on the PageFly team’s in-depth research and also practical experience. The checklist, in the form of a conversion rate optimization best practices, covers all the aspects that might affect the conversion rate of a website, the tips, and techniques you can apply to increase conversion rate.
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