The Business Benefits Of Conversion Rate Optimisation

Analytics, Conversion Rate Optimisation 16th Apr 2014

Koozai > Koozai TV > The Business Benefits Of Conversion Rate Optimisation

Today I’m going to be talking to you about the business benefits of Conversion Rate Optimisation. It’s a massive topic. Ultimately Conversion Rate Optimisation though serves to reduce cost of business whilst also improving profitability. What that means in the real terms is that potentially you’re looking at improving the amount of e-mail sign-ups that you receive or, even bigger than that, you’re trying to improve the amount of sales that your site is accountable for.

So with Conversion Rate Optimisation you really need to look at what your product page is doing, what your (?) pages are doing and then also looking at the site and asking the site specific questions about what is happening with the users. For instance, what percentage of site users come to the site and view a category page or the same question again but view a product page? Is that in line with your expectations? That’s going to then prompt you to say, ‘Well, is the architecture of the site working to drive people in that direction?’ Typically those pages are most valuable because ultimately they lead to a purchase or transaction.

So with Conversion Rate Optimisation you’re looking to blend two things really: data analysis – so looking at your web analytics and asking a lot of questions about the different types of pages – and then what you want to do is bring in some actual real humans and ask people within your audience how they react to different variations of site content. And off the back of that you’ll then be able to scale that across your site and achieve triggers with that core audience that’s going to mean the lifetime value is going to increase, multiple transactions occur, and also they continue to spread the word for you so that they can find similar people that are going to transact with you and spread the word.

So Conversion Rate Optimisation is becoming more and more vital. It’s not simply good enough now just to optimise your site for search and then expect that to drive in the business. You’re missing an opportunity if that is the case. If you can make your site visits increase in e-commerce value by getting it to convert more and more often [with] more value you’re ultimately going to win because you’re going to be making the most of the audience that you’ve got.

This can help also to drive your SEO efforts because if you can then inform your SEO campaigns with data that you’ve got from your Conversion Rate Optimisation testing then ultimately you’re going to reach a far larger audience. And again find similar people that are going to transact with you.

So when you’re thinking about something like a product page you’re going to want to look on that page and look at the different assets. And look to see if there’s anything there that needn’t be there or if there’s anything there that needs to be made more of. For instance, you might have a sort function. Does the sort function default to the lowest price first? That might be why a potential product is going to be driving in very low levels of volume. Potentially changing that to a relevance filter is going to mean that you’re going to produce more relevant results to people regardless of price it’s going to drive in more revenue to you.

You might consider as well site search. You might have a site search box that already has some grayed-out template text in there. That can be confusing to users. That can stop people from actually using site search. The site search for e-commerce sites is invaluable. More often than not users are actually looking for your products and services not using the branded terms that you use when you’re disseminating information. As a result, using site search you can actually find new keyword targets because there may be keywords that are being used by customers at a great volume. And that then can form your SEO campaign as well.

There are also major changes that you can implement off the back of effective CRO testing. This might mean where you’re looking at messaging or potential graphics, colour schemes. And this is where you’ll want to do testing comparing AB tests, different versions of a web page and showing that in the search results but also doing that with actual human interaction as well, either with sample audiences or with questionnaires as well.

So the key thing to remember about Conversion Rate Optimisation is it’s there to drive down cost to you as a business. It’s also there to increase the profits to your business as well. So, get CROing. For more information please get in contact by the social profiles at the end of this video. Thank you.

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