Conversion rate optimisation (CRO) is the process of using data, analysis, and insights to improve the performance of your website and increase the chances of a successful conversion. Similar to SEO, this is carried out monthly after outlining a strategy.
What is a conversion?
A successful conversion is when a user completes the desired action on your website, such as making a purchase, filling in a lead generation form, signing up for a newsletter.
Why is this important?
It is important to track conversions to measure your website’s performance and identify areas that can be improved to increase conversions.
What is the benchmark conversion rate for an e-commerce store?
A typical conversion rate for an e-commerce store is typically around 2%. However, different industry sectors and locations do vary slightly.
How do you work it out?
If your online shop had 40 sales and 2000 visitors last month, your conversion rate is 40 divided by 2000 (0.02), multiplied by 100 = 2%.
If you increase the conversion rate to 3%, it’s 60 sales.
4%, it’s 80 sales, as so on.
What kind of changes takes place on a website?
Changes are not limited to but can include:
Sometimes, making the simplest of changes, such as changing the colour of a purchase button from red to green, can have a huge impact. This is because website design, User Experience design and CRO are centred around buyer psychology. Green for go, for example, and red for stop.