When it comes to market intelligence, an eCommerce website’s conversion rate is considered one of the most coveted (and closely guarded), secrets out there. Obtaining a reasonable conversion rate requires optimizing your website or landing page in various ways in order to save costs, and ultimately, make your business more profitable.
Gaining insight into how you can drive more visitors to take action is crucial for your job. Yet, surprisingly, just over 30% of small businesses have a conversion rate optimization (CRO) strategy in place and this is where our agency comes in.
What is a conversion?
A conversion is considered the completion of a desired action taken by a visitor to your website. The desired action could be filling out an online form or purchasing a product. An eCommerce website’s conversion rate is the ratio of visitors that convert into customers, expressed as a percentage. For example, if you have a 5% eCommerce conversion rate, that means that five out of every one hundred people who visit your website actually convert into paying customers
How Does Conversion Rate Optimization Work?
In a nutshell, CRO is a process that – if continuously executed – gives you more bang for your buck, i.e., gets you better results for the same amount of effort and money that you’re already investing into selling your product or service through an online store.
If you have an eCommerce company and you are looking to improve conversion rates, for instance, you may want to optimize the average click-through rate of its target audience from seeing an ad on Google to clicking on the ad to buying the product. Than this is the right place to be.