Understand Conversion Rate Optimization

Understand Conversion Rate Optimization

by Gary Vander May 14, 2018

Understand Conversion Rate Optimization

The Terms and metrics You Need to Know
You understand a conversion is when a site visitor performs the action you want (i.e. opting-in on a landing page, purchasing item, etc.) and your conversion rate is the percentage of users that transform out of the overall traffic sent to that page.

Now, let’s take a look at a few other metrics that pertain to CRO:

Bounce Rate

Whenever someone goes to a page on your site and right away clicks “back” to leave, that’s referred to as a bounce. Your Bounce Rate is the percentage of visitors who click away within a couple of seconds of landing on that particular page.

Because a high Bounce Rate indicates people aren’t seeing what they’re looking for and you need to make some changes, this is an essential metric. Discover how here.

Exit Rate

Your Exit Rate resembles the Bounce Rate, except it determines the portion of individuals who leave your website entirely from a specific page.

An interested user will tend to jump around various pages on your website until they find exactly what they’re looking for or they find a reason to leave. A page with a high exit rate shows that something about that page is sending individuals away from your website.

Average Time on Site

Engagement is very important to keep track of and the Average Time on Site is a metric that indicates for how long, on average, individuals are exploring your site.

Generally speaking, the higher your Average Time on Site is, the more interesting your content is.

Average Page Views

Typical Page Views is another metric that procedures engagement by showing the number of pages, typically, a user sees before they leave your site.

In general, Average Page Views shows one of two things:

  • The user is engaged and wants to see increasingly more of your material
  • The user is engaged, however, cannot quite find what they’re looking for

 

Typically a high Average Page Views is good, unless it associates with low conversions. Seeing this might show that individuals aren’t being directed on a clear course towards conversion.

There are lots of other metrics to consider aside from those noted above, but for now, these are all you need to stress over.

Now, let’s briefly talk about the key terms and ideas used in CRO.

Call-to-Action (CTA).

A Call-to-Action is precisely what it sounds like– a statement informing the user what action to perform. A conversion in this context is the outcome of a user performing the action following the CTA.

Examples of CTAs include a “Download” button on a demo page, “Buy Now” on a product page, or other button or link that directs the user to perform a particular action.

Required assistance boosting conversions on your CTAs? We’ll dive deeper into this here, but you can also discover more in this complimentary guide.

Conversion Funnel.
A Conversion Funnel is a course you produce to assist web visitors to a conversion.

For instance, if a visitor arrive on your homepage and clicks through a CTA to your product description page, then clicks a CTA to visit the pricing page where they include your item to their cart and are directed to the checkout page.

A lot of websites will have several Conversion Funnels, with several paths leading to the very same offer, as well as courses leading to others such as a newsletter opt-in or purchase.

A/B Testing.

Referred to as Split Testing, A/B Testing is when you evaluate two variations of a page element versus each other to see which performs much better.

For example, if you wished to check a heading on a landing page, you would send half of your traffic to the original page (A) and the other half of your traffic to an alternate page with the new heading (B) and compare the results. After discovering a winner, you could then run another test with your new headline as the default and an alternate heading as the rival.

A/B Testing is commonly utilized to improve headlines, page structure, button colors, CTA copy, and practically anything else. Software applications like HubSpot and Optimizely can assist you perform this.

Multivariate Testing (MVT).

MVT is an innovative version of A/B Testing where you check multiple variations of various page aspects simultaneously. You can check several elements and multiple combinations of different aspects to determine the ideal mix of the ideal variations.

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written by: Jay Verrone
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