Conversion Rate Optimization has to do with making the utmost use of one’s site to achieve the one’s business goals. It is a means of measuring the number of people who meet the requirements you have set for your website. In other words, it helps to make good use of traffic got on your site, increasing efficiency and revenue, get more orders and decrease bounce rates. The simple formula for calculating conversion rate is (Number of sales / Number of visitors to your site) × 100 = Conversion Rate.
However, your website’s conversion rate is not enough to measure the success of the conversion rate process. It entails far more than that. The topmost goal of a site owner is to make sure he is enjoying all the benefits of being online.
As an optimizer, your focus should be not just on the conversion rate but on the impact on the wider business. As a result, optimizers need to also dwell on getting skills of business analysis, management, customer service, customer satisfaction, user experience and web design right. One thing to have in mind about Conversion Rate Optimization is that it’s a process. To achieve your business goals you have to follow through with the systems of the process.
The first stage of the processes the “Research stage”. You cannot just go ahead with making decisions regarding your website without first getting answers to understand your customers. Like what is it about your website that stops them from converting. Are there obstacles preventing them from signing up or buying from you. Getting answers to these questions will help to provide solutions to improve and utilize the traffic on your site.
Next is the “Hypothesis stage”. Since you now have ideas as to the problems that are preventing your website or business from performing well, you can now carry out a test that will guide you through and give you a platform to measure your success.