The conversion rate in marketing is one of the most important metrics. It helps marketers measure the performance of a campaign, ad group, or ad, and also reduces customer acquisition costs and generates more revenue. Tracking conversion rates allows you to evaluate the success of your websites and applications, and understand what percentage of your users are meeting the objectives that drive your business. A conversion rate is a good indicator of how many visitors come to your website through an organic search, and with PPC campaigns and paid advertising becoming increasingly competitive and expensive, Conversion Rate Optimization (CRO) can offer a cost-effective option.
From a business point of view, it's very important to know how many people buy your product, as well as how many people know about your product and are convinced that it's right for them. The conversion rate then becomes the percentage of visitors who come to your e-commerce store and complete the desired action, which can be any of your KPIs. Now that you know why CRO is important for your e-commerce store, here are some tips to help you start optimizing your site for conversions. First, prioritize pages with high traffic and low conversion rates. Second, high-intent pages that suggest that a user is seriously considering making a purchase should also be a priority for optimization to increase conversion rates. If you want to know what the reasonable conversion rate is for your industry, do some research and search to see what your company's average conversion rate is.
As you optimize your conversion rate, you'll also reduce the cost of acquiring customers and start receiving free customers without increasing your advertising budget. It's a proven conversion rate optimization tactic to get your audience to engage with your website and your CTA. CRO helps increase conversions from your current web traffic without you having to increase your advertising budget just to increase conversion rates. By continuously identifying new conversion goals, identifying areas where your conversion rate can be improved, and implementing tests for new features, you can continuously improve the performance of your website or application. Investing in conversion rate optimization will help you improve your website's conversion rate, and maximize conversions - known as Conversion Rate Optimization (CRO) - which is essential for any e-commerce store.