In digital marketing, the conversion rate is defined as the relationship between the website visitors and those who carry out a certain action during a specific time in the sales funnel (awareness, interest, decision, action). In email marketing, this conversion rate is calculated using the click-through rate (CTR), which calculates the percentage of people that click on a link from all those who receive or open it.
Conversion rate optimization (CRO) is an essential part of online marketing strategies. Measuring the conversion rate is an important part of all types of digital marketing campaigns: email marketing, Adwords campaigns, social media publications, web page optimization on ecommerce sites or landing pages, pop-ups, and SEO strategies.
Now you’re getting insights on what is and isn’t working, the next step is to use the information to improve your content.
How to increase website traffic
From your channel acquisition reports, you will know where the bulk of your visitors come from. You can use this information in two ways:
1. Focus on dominating this channel and create more content designed for these visitors.
2. Make a conscious effort to build out your audience by identifying gaps in your channel acquisition.
Dominating a channel
The most common example of this is leveraging the domain authority of your website to rank high on search engines for most of your blog posts. When you have created enough great content for search engines to rank you high with little effort, it makes sense to keep creating content for this channel.
One example is the Mio blog which jumped from 48 visitors to 150,000 readers by going all-in on organic search content. Creating the best version of what exists online, coupled with a high authority site, is a sure-fire way of increasing website traffic.
Expanding your audience
The alternative to going all-in on one acquisition channel is expanding into other channels to level the playing field. For example, if most of your website visitors find you via search, you might want to focus on creating more email content and optimizing your email campaigns. Email is a great example of a marketing channel that you will always own. Unlike organic search or social media traffic, you are not reliant on other companies’ algorithms.
Think about what is best for you now then revisit in three months’ time. Set yourself a calendar reminder to check if you should continue your focus on dominating a channel or expanding your audience.
How to increase web conversions
Once you’ve got all this new traffic, there’s the question of conversion. Is traffic a measure of a successful website? Or is it a vanity metric?
For marketing of any kind to contribute to business growth, it needs to generate revenue. This could be in the form of leads, installs, or affiliate links. To increase web conversions, add the following to your marketing strategy:
Conversion tracking is essential to determine the strategies you should use to attract a higher number of visitors to your calls-to-action (CTAs) and to increase the number of conversions that complete the desired action. To achieve a good conversion rate, marketers should monitor key metrics in web analytics tools (like Google Analytics) to know their average conversion rate and determine campaign benchmarks and conversion goals.
You can’t do conversion optimization on a shoestring budget. However, the money you allocate to conversion optimization will return back to your pocket if you succeed.
With that in mind, assign the resources needed for infrastructure, testing, and proper implementation.
Finally, you should never stop working on your conversion optimization. New trends, emerging technology, and evolving competition will keep you on your toes.
Take each failure as a lesson and continue refining your successes to remain relevant in today’s ever-changing markets.
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