10 Conversion Rate Optimization Strategies To Make More Money In 2019
Conversion rate optimization, often abbreviated to ‘CRO’ is the most crucial performance metrics for all marketers and the most significant leverage point for any company.
However, driving conversions is apparently tricky and intimidating task. The increase in the competition has made it hard for marketers to understand their conversion dreams.
Every company has certain goals to achieve. For instance, for your website, your goal is to make visitors click on ‘subscribe’ or ‘buy now’ or ‘call now’ button. Every time a visitor clicks on these buttons, you earn a conversion.
Therefore, your conversion rate is the percentage of the people who have taken action v/s total number of visitors who have visited your website. In short, conversion rate optimization is the process of turning visitors that visits your website into customers.
The best practices for conversion rate optimization are not commercial. Instead, they depend on clever persuasion. Let’s have a look at some of the best conversion rate optimization tips that can help you in improving your objectives.
Whenever a person visits your website, headlines are the first thing that they probably notice. A great headline is the one that sums up the whole sales pitch in one bold sentence. It is meant to generate curiosity, solve a problem, answer the question, or be instructional.
Without an effective headline, there is a risk of losing a potential lead. Here are some types of headlines that have proven to be impactful in generating leads:
Question headlinesCommand headlinesHow-to & Instructional headlinesDirect headlinesProblem-solving headlinesStrategic CTA’s
Just like a name, the call-to-action button prompts visitors to take a specific action. It should be there on all your pages and should be visible to visitors. While creating CTA’s three things need to be kept in mind:
Color and shape: The color and shape of your CTA button should be such that it matches with other elements of the website. It should immediately catch the attention of visitors. Placement: Placing the CTA at the top of your fold is more helpful than one below the fold.Make it benefited oriented: Bland CTA’s like ‘Download’, ‘Continue’, etc. are not action-oriented. In place of that, make them benefited oriented like ‘Stay connected’, Get my ebook’, etc.Easy Navigation
A lot of website owners ignore the significance of navigation. They are unaware of the fact that even navigation plays an important role in visitors’ journey through your website. How? The answer is quite simple. The quicker a visitor gets what they want, the more chances that they will purchase it.
Therefore, it is vital to have simplistic navigation. Your visitor should reach any of your website pages with maximum two or three clicks. Since the usage of smartphones is at its highest than ever before, therefore, you should pay more attention to your website navigation on mobile devices.
The website loading speed plays an important role in engaging visitors and making them take the next step. The faster the page gets loaded, the lesser are the chances that the visitors will leave the website.
Surveys have also shown that users expect a site to load in two or three seconds. It not only increase conversion but also helps in getting higher position in search engine results. Here are some of the best practices that can help in improving the page loading time:
Implement Content Delivery Network (CDN) — a server group that brings pages and other content near the physical place of the user. Just because the server is nearer to the customer, it loads more quickly.Compress the image sizeEvaluate and disable the plugins that are no longer in usePrevent ad scripts and pop-upsPayment Security
Since technology has developed so much and everything is online today, people are more concerned about keeping their information private. To win their trust and make them feel secure; it’s important to display security symbols on the checkout page.
The more trusted emblems you display, the more comfortable customers will feel, and this is a great way to increase online sales. Apart from displaying security symbols, you can also give users multiple payment options like debit card, debit card, mobile payments, etc. It will make visitors feel that your site is customer-friendly and trusted.
Time LimitThe more you give time to people think about making a purchase decision, the greater the chances are of them changing their mind or getting distracted by competitor’s offers. To improve your conversion rate, you should set a time limit.
Create a sense of urgency such as ‘Get 60% off on all purchases during the next 48 hours.’ In 2016, Amazon, the e-commerce king, took this approach, and its conversion rate increased by 74%.
Play on Scarcity EffectAnother great way to increase the conversion rate is to create a sense of scarcity. During your online shopping, you probably have experienced that you want something, and that item is out of stock.
And next day or probably two days later, when you visited the same website, you found the same product in stock with a small message below it ‘Limited stock.’ Well, that was a scarcity effect action.
That product probably never was out of stock. It was done by that particular website to drive sales because scarcity or short supply of the product makes people purchase the product quickly.
Optimize for MobileThe mobile industry is growing very fast. There has been a tremendous increase in smartphone users, and the numbers are expected to reach 4.78 billion by 2020. After knowing the fact, you cannot afford to ignore mobile users.
Check your mobile conversion rate and figure out the areas of improvement. Speed up your mobile site and have a responsive design for all your mobile pages.
Display TestimonialsTrust is the critical thing that encourages people to make their purchase decision. These days, because of cut-throat competition, customers have started giving importance to other customers’ reviews. No matter how persuasive your website is, the first time visitor will hesitate to make a purchase decision.
Showing the authentic testimonials of other customers may convince them to buy a particular product. If you have a well-known client and that client is very much happy with your services, then showing their logo along with their name will help you in building more trust among other clients or customers. You may also choose to display testimonials in the form of videos.
Shorten Checkout FunnelCheckout funnel is a series of a path that a user takes to get from a landing page to the ‘Thank you’ page. The shorter the checkout path, the more likely it is to convert a visitor. Imagine that you want to buy something, and after adding the item in a cart, you need to follow too many steps.
Don’t you feel irritated? Chances are you may leave the item in the cart and quit the website. Similarly, if your website also has the long checkout process, you may lose the potential client or customer. Therefore, it is advisable to keep the checkout funnel short. Users will feel comfortable during their checkout process, and they may become loyal customers of your website.
Key takeawayConversion rate optimization is a continuous process. You can always do better. We hope that the above tips will help you in growing your business. There is one piece of advice we would like to give at the end is to continuously experiment with new ideas and figure out which one performs better for your business.
Connected Business Frameworks
Business development comprises a set of strategies and actions to grow a business via a mixture of sales, marketing, and distribution. While marketing usually relies on automation to reach a wider audience, and sales typically leverage a one-to-one approach. The business development’s role is that of generating distribution.
The more you move from consumers to enterprise clients, the more you’ll need a sales force able to manage complex sales. As a rule of thumb, a more expensive product, in B2B or Enterprise, will require an organizational structure around sales. An inexpensive product to be offered to consumers will leverage on marketing.
A sales cycle is the process that your company takes to sell your services and products. In simple words, it’s a series of steps that your sales reps need to go through with prospects that lead up to a closed sale.
RevOps – short for Revenue Operations – is a framework that aims to maximize the revenue potential of an organization. RevOps seeks to align these departments by giving them access to the same data and tools. With shared information, each then understands their role in the sales funnel and can work collaboratively to increase revenue.
Revenue modeling is a process of incorporating a sustainable financial model for revenue generation within a business model design. Revenue modeling can help to understand what options make more sense in creating a digital business from scratch; alternatively, it can help in analyzing existing digital businesses and reverse engineer them. 
Customer experience maps are visual representations of every encounter a customer has with a brand. On a customer experience map, interactions called touchpoints visually denote each interaction that a business has with its consumers. Typically, these include every interaction from the first contact to marketing, branding, sales, and customer support.
AIDA stands for attention, interest, desire, and action. That is a model that is used in marketing to describe the potential journey a customer might go through before purchasing a product or service. The AIDA model helps organizations focus their efforts when optimizing their marketing activities based on the customers’ journeys. 
Social selling is a process of developing trust, rapport, and a relationship with a prospect to enhance the sales cycle. It usually happens through tech platforms (like LinkedIn, Twitter, Facebook, and more), which enable salespeople to engage with potential prospects before closing the sale, thus becoming more effective.
The CHAMP methodology is an iteration of the BANT sales process for modern B2B applications. While budget, authority, need, and timing are important aspects of qualifying sales leads, the CHAMP methodology was developed after sales reps questioned the order in which the BANT process is followed.
The BANT process was conceived at IBM in the 1950s as a way to quickly identify prospects most likely to make a purchase. Despite its introduction around 70 years ago, the BANT process remains relevant today and was formally adopted into IBM’s Business Agility Solution Identification Guide.
The MEDDIC sales process was developed in 1996 by Dick Dunkel at software company Parametric Technology Corporation (PTC). The MEDDIC sales process is a framework used by B2B sales teams to foster predictable and efficient growth. 
STP marketing simplifies the market segmentation process and is one of the most commonly used approaches in modern marketing. The core focus of STP marketing is commercial effectiveness. Marketers use the approach to select the most valuable segments from a target audience and develop a product positioning strategy and marketing mix for each.
The sales funnel is a model used in marketing to represent an ideal, potential journey that potential customers go through before becoming actual customers. As a representation, it is also often an approximation, that helps marketing and sales teams structure their processes at scale, thus building repeatable sales and marketing tactics to convert customers.
Venture capitalist, Dave McClure, coined the acronym AARRR which is a simplified model that enables to understand what metrics and channels to look at, at each stage for the users’ path toward becoming customers and referrers of a brand. Other business resources:
Successful Types of Business Models You Need to KnowThe Complete Guide To Business DevelopmentBusiness Strategy: Definition, Examples, And Case StudiesWhat Is a Business Model Canvas? Business Model Canvas ExplainedBlitzscaling Business Model Innovation Canvas In A NutshellWhat Is a Value Proposition? Value Proposition Canvas ExplainedWhat Is a Lean Startup Canvas? Lean Startup Canvas ExplainedWhat Is Market Segmentation? the Ultimate Guide to Market SegmentationMarketing Strategy: Definition, Types, And ExamplesMarketing vs. Sales: How to Use Sales Processes to Grow Your BusinessHow To Write A Mission StatementWhat is Growth Hacking?Growth Hacking Canvas: A Glance At The Tools To Generate Growth IdeasThe post 10 Conversion Rate Optimization Strategies To Make More Money In 2019 appeared first on FourWeekMBA.
