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Conversion Rate Optimization Research: The Ultimate Guide
Imagine spending countless hours, thousands of dollars, and a lot of manpower for a conversion rate optimization research project, only to find out that once applied to your business, it does not actually convert.
This is definitely a horrible situation that we all want to avoid. Unfortunately, this occurs more frequently than you think. Many businesses chase traffic but lack the necessary nuances to make the strategy more effective. As a result, we cannot create effective leads, which means there are no sales, which means there won’t be any profit for the business.
This guide will talk about the most effective conversion rate optimization research strategies to help you achieve a healthy, well-performing, high-traffic website that converts.
What is a conversion rate?
A conversion rate is the number of site visitors that completed your desired goal (a conversion) divided by the total number of visitors to your website. This percentage represents how “healthy” or effective your website achieves your desired outcome. A higher conversion rate is more desirable.
If your conversion rate is low, the next step is to research ways to get this number up.
Perform A/B Tests on Your Landing Page
Your landing page is a crucial player in your conversion rate. In this step, you need to test all areas. It could be:
- Your call to action (CTA)
- Body copy
- Images that load slow
- Poor graphics
There are many factors to consider, and the only way to truly identify the problematic areas is through A/B testing. This is called split tests because you only need to create one change to your landing page and then run both versions to different traffic segments.
For example, you may tweak the CTA into something more powerful. Run version 1 to Group A visitors and version 2 to Group B. The version that performs better is the route to take.
The critical thing to remember is to only make one change at a time. You cannot pinpoint the single element hurting your conversion rate if you change everything.
This is a powerful technique to troubleshoot your landing page. As a matter of fact, ex-President Barack Obama applied split testing to his website during his campaign. It took 24 versions and a whole lot of segmentation. Still, his team eventually identified the most effective design with the highest conversion rate, precisely what he used for the remainder of his campaign.
Identify Your Customer Value Proposition (CVP)
Why should people buy your product or service? The answer lies in your customer value proposition (CVP). You need to fine-tune your CVP so that customers will be fully aware of your values and to ensure that it is in line with theirs. Additionally, CVP establishes trust.
Make Your Copy Short And Sweet
No one likes reading a massive text block with rambling and repetitive content. As such, make sure to simplify your copy. Limit its scope to the following aspects:
- It should show that you understand the pain points of your customers.
- It should offer a solution to your pain points.
- It should pre-emptively answer any objections or FAQs
- It should effectively convert your site visitors to your desired CTA.
Experiment with the Creation of a Sense of Urgency
A sense of urgency should compel your prospect to hit that CTA button and do your desired action. If a promo is running for a limited time, people will likely grab it today before it runs out. You may also explore options such as indicating that you are quickly running out of stock, 24-hour sales for your subsequent purchases, and other bundle promotions.
There are different ways to create a sense of urgency, from your copy to videos. It’s all about finding the best method for you and your brand. You should not go overboard with these flash sales as it will dilute the reality that your offers are at discounted rates.
Overall, your conversion rate strategy should be customer-centric. Always put yourself in your ideal customer’s shoes. Envision their pain points and establish what they want to hear to trust you. Incorporate their values and needs into your conversion rate optimization strategy.
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If you want more marketing strategies, advice, or an overhaul of your marketing structure, email us at firstname.lastname@example.org or schedule a call with Zack now.