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Conversion rate optimization case studies - MakeBeCool

Now the Internet is stuffed with various info about the importance and effectiveness of conversion optimization for improving your online store and increasing the profitability of your business. Many companies offer their services in the field of conversion rate optimizations. Sometimes it starts to seem like just an intrusive advertisement, where you are offered a magic wand to solve all your problems.

Do you doubt whether your company needs CRO? Is it just a waste of time and money? This review answers these questions, you can see real-life examples of conversion rate optimization case studies and how CRO works in practice, and you will understand what will be the best solution for you.

Top 4 CRO marketing cases

Here is a list of projects for which we worked to define conversion rate optimization, together with conclusions and visual results. The first thing you should pay attention to before reading the cases is the originality of each business. For each unique business, you need to take a special approach and conversion rate optimization strategies.

1. Grossoshop case

Grossoshop is an Italian online store selling both smartphones and devices. Initially, the store owner asked us to help him migrate to the Shopify platform and update the site design.

Here are the details about the migration process.

We decided to redesign the site taking into account the UX analysis and the weaknesses of the previous site design from the CRO position.

Our marketer, together with a CRO/SEO/UX analyst, conducted CRO web marketing research, created a heat map of the site and identified problem areas, as well as the channels that bring conversions. Based on the data received, we created a new stylish and user-friendly design of the online store and developed a strategy for its further development.

To attract more customers, we installed the Incoming widget and the Exit intent popup application. It worked! But a new problem appeared: analysis showed that many customers confused them with online chat. The best solution in this situation was to introduce online support. We added Zendesk chat for these purposes.

As a result, we were have increased conversions by 41.25%, and online store revenue by 38.47%

Additionally, we added customer surveys by mail and through the Hotjar widget. The survey showed that users would like to see a wider range of products. The question of expanding the assortment was considered by the store owner. Meanwhile, we added a section with cross-selling on the product page. It also helped us increase conversions.

In addition, we replaced the main slide on the first page, and we have increased involvement in the pages of collections. You can see the results in the table.

All these steps helped us increase conversions by 58.19%, as well as the online store income by 49,18%.

2. Cryptocurrency website case

Our work with an online store selling goods related to cryptocurrency was rather successful in terms of the effectiveness of CRO. The owner complained about low conversions and did not know how to deal with that. The site hardly sold anything. To fix this problem, we started collecting and analyzing quantitative data from the site. To begin with, our experts determined the quality of traffic, sales potential, conversion rate of each channel.

It turned out that the cryptocurrency wallet application was the main sales channel. At the time of the analysis, the policy of many advertising services, including Facebook, was rather strict in relation to cryptocurrency i.e. the ads were not allowed. So the client did not receive any traffic from advertising. In addition, 90% of users who visited the site immediately left it, that is, there was practically no involvement.

The next step in our work was the installation of heat maps at the main outflow points, as well as the addition of surveys. According to the results of the polls, it became clear that visitors wanted to buy a cryptocurrency and not the goods associated with it.

Using heatmaps as well as screen recordings, a navigation issue was discovered. The problem was that there were two menus on the site: the first is one of the stores, and the second was of the groups of sites with a large button that they clicked on and switched to another site. This problem, unfortunately, we were not allowed to fix. After 50 entries, it became clear that users did not understand where they got, and they were lost in the menu categories.

Basing on the data on the most popular products and screen recordings, we decided to change the design of the main page. The changes also affected the menu: category names were corrected to more understandable ones, and card sorting was applied. We also changed the banner to a more understandable one - it became clear what the site was selling. Then we highlighted the two most popular products as well as merch, one of the important categories (t-shirts, caps, etc.), which was not shown before.

As a result, after a month of working on the site, our conversion rate optimization report showed the following indices:

The figures obtained illustrate the result of the productive work of our team and the increase in customer sales.

3. Zinvowatches project eCommerce Case

For more than two years we have been working with zinvowatches.com, an interesting eCommerce project. Zinvo is a Swiss luxury watch company with a unique design. It is a relatively young but successful brand. The company has an extensive network of offices in North America, Europe, the Middle East, and Asia.

The owner of the company addressed us with the problem of a sales drop and poor site performance. The task our partner set for us was to find out the reasons for the drop in conversions and build a CRO marketing strategy on how to improve this situation.

To solve this problem, we conducted an analysis of the sales funnel and the user's path from entering the site up to making a purchase. As a result of the analysis, we found out that our client loses 60% of his users in the first stage of the sales funnel, in the second stage - up to 71% of users and 89% when placing an order. Thus, the main problem was the loss of users at every stage of the sales funnel.

In addition, we carried out a UX analysis of all the pages of the site and a full technical diagnosis. We identified problems and put forward hypotheses on how to improve the online store and increase conversions.

After conducting the A/B test, we determined that our hypotheses were correct and implemented the results in the project. Then we prepared a redesign of the key pages of the site.

We also paid special attention to download speed optimization. If the loading time used to be about 17 seconds, now we achieved the site loading speed of 4 seconds. It was a huge improvement. After all, a long download contributed to a large outflow of customers when they first hit the site.

Our work resulted in the following indicators: the percentage of the goods added to the cart increased from 7.63 to 12.98. The number of orders increased from 5.15% up to 8.08%, the purchase amount increased from 2.88% up to 5.23%.

The client was pleased with our work. Conversion rate increased 3 times.

4. E-Volt Case

Another project for which we worked on CRO is E-Volt, the American electronics company. Like all our previous partners, the owner of an online store addressed us with the problem of poor sales and a low conversion rate.

Analysis of the site showed that the main problem was the incorrect presentation of information as well as the inconvenient design. There was no information about the company and its partners, but the product pages were full of extra text content that almost none of the clients had read it to the end.

The main design changes have affected the main and product pages. On the main page, we changed the flow of information: we added 2 banners - the main one and the additional banner. The main one offered a discount on the bundle, and the additional one led to the collection.

Under the banners, we highlighted the advantages and chips: free shipping, the best craft product, and prices. We also added the section “Best Seller” and highlighted them with more contrasting sales tags (discounts).

In addition, we created the “About Us” page, which described the business itself and the partners in more detail. A block with customer reviews has also been added to this page.

We made the product page more minimalistic. All that’s left was important information, which was better served (tabs and dropdown)

As a result, we had an increase in revenue of 52.29% and an increase in conversions of 44.91%.

As you can see, in each case, the numbers speak for themselves and clearly confirm the effectiveness of conversion optimization. We hope we managed to mitigate any doubt you might have.

You should be borne it in mind that every business is unique, and an individual approach and its own methods for optimizing conversions should be found. If you want to achieve progressive results and not waste your time checking all the methods, you should better consult an expert. Makebecool team experts have extensive experience working with CRO digital marketing, we know how valuable each business is, and therefore we approach every project individually and carefully. We always take into account all the wishes of our client and strive to complete the work as soon as possible.

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Top 27 conversion rate optimization tools

To achieve positive results in optimizing conversions of your online store, you need to use not only the right methods but also the CRO tools 2019.

How to select a conversion optimization rate tool? Just read this review and get a clear list of services that bring success. They are intended for those users who set the goal of increasing the number of quality conversions.

Top conversion rate optimization tools for your business

The process of improving the conversions of an online store involves several steps. At each stage of the analysis, I use different tools, as I’m not used to one source only and encourage you to do the same. Therefore, for your convenience, I have grouped the services according to the stages of conversion optimization.

Data acquisition and analytics tools

1. Google Analytics and Google Analytics 360 - are the services for analytics of site traffic from Google search and ones of the best CRO tools for analyzing conversions.

What data you can get using this service:

traffic volume;

quantity and quality of conversions;

CTR;

analysis of social networks;

analysis of the users’ path before they make conversions;

analysis of the effectiveness of each page on the site.

Google Analytics 360 is an improved data analytics service from Google Analytics. It includes six products that you can use either comprehensively or individually, and you can integrate them with AdWords. Google Analytics 360 is designed to be shared with teams and has many additional features for analysis and visualization, as well as advanced reports and cloud storage.

Here are the products that are part of the tool:

Google Audience Center 360 is designed to organize and manage customer information.

Google Optimize 360 ​​is designed to test and personalize sites. If you need to conduct A/B testing of a site, try this product.

Google Data Studio 360 is designed to analyze data and visualize it. The tool integrates data collected by other Google Analytics 360 Suite products and other services. After collecting the data, you can generate a report and save it in Google Docs.

Google Tag Manager 360 is designed to track tags on a site.

Google Analytics 360 is designed to analyze all the data collected about customers, and their integration with advertising campaigns for increasing their effectiveness.

Google Attribution 360 is designed to analyze the results of an advertising campaign, taking into account all channels, devices, and systems, as well as to create the most effective mix. The tool is designed to distribute the budget for marketing costs.

2. Kissmetrics is a platform that allows you to track the chain of customer’s touch from the first visit to your site up to the moment when he purchases. The tool helps to find problem areas on your site and understand the reasons for the outflow of customers, which contributes to the adoption of confirmed decisions and increase in conversions.

There are also ready-made integrations with popular trading platforms such as Shopify and WooCommerce.

3. Woopra is a reliable analytic software. The tool helps not only monitor the activity of users of your site in real-time but also creates a detailed profile for each client, synchronizing its data.

Woopra tracks both anonymous and identifiable customers as they explore your site and interact with it.

4. Mixpanel is a web-based platform for analyzing user behavior in real-time. It allows you to receive data about actions in the application.

Speaking about Mixpanel features it is worth highlighting customer segmentation, deep targeting, thanks to profiles, built-in A/B tests and user survey forms. The data collected is used to create custom reports and measure the engagement of your customers.

Mixpanel is a comprehensive enterprise-level solution with many features designed for online stores. They have a number of famous customers, including Walmart and Overstock.

5. Adobe Analytics is a tool that allows you to use data on customer behavior (including offline) to build reports, comparisons and visualizations of the full cycle of the client’s path.

The platform combines powerful business-level tracking and analysis with ease of use together with automated reporting. Among its most outstanding features, there are advanced segmentation, multi-channel compatibility, and cloud storage.

6. Clicky is a comprehensive analytical software with the help of which you can generate reports on user interactions on your site.

The service allows you to install heat maps on your site. One more convenient function is set up notifications when your site for some reason does not work.

7. Geckoboard is a cloud-based dashboard that displays real-time key business metrics. Users can customize their dashboards based on the needs of the team and company. Geckoboard is suitable for businesses of any size, and also offers an application for iOS.

This web service aims to build clear and effective business dashboards that provide the team with the right information, motivation and follow KPI.

Tools for research and analysis of visitors’ behavior

8. Hotjar is a multifunctional and the best tool conversion optimization.

Its service features:

it shows maps of clicks, scrolling, links, including traffic sources;

it records the behavior of visitors (web viewer) according to the specified criteria;

it creates and analyzes application forms;

it builds conversion funnels.

Hotjar combines feedback and analysis tools to help users find out where visitors click, how much time they spend on each page and where they leave the site. All of this will help you identify areas that need some improvement.

If you're looking for a team-oriented, easy-to-use solution that integrates with most major e-commerce platforms, then Hotjar is worth your attention.

9. Lucky Orange is an easy-to-use toolkit that helps you understand the reasons why your visitors leave without completing a key action.

Lucky Orange is easy to use, it is also ready to work right immediately after its installation. Among its functions, there are dynamic heat maps, user records, online chat, real-time dashboard, and daily email reports.

10. CrazyEgg is a service for building heatmaps with segmentation by traffic sources, search phrases, etc. Thanks to click cards, scrolling, links and a variety of reports, you can understand how visitors interact with your site.

CrazyEgg helps you find out why visitors leave your site - it shows you exactly how they scroll pages down, what elements they click most often, and even the sources that bring them to your site.

11. Clicktale is an application for studying the behavior of users on your site, which will help determine the needs and intentions of your customers.

Clicktale is really proud of its analytics platform, which uses advanced algorithms to analyze behavioral data. Results and reports are provided in a user-friendly visual format that emphasizes practical application, especially for A/B tests.

12. Matomo is a multifunctional open source web analytics system that gives you the opportunity to modify it for your personal needs. You can create, customize and manage your reports and even form conversion optimization software as part of the community.

13. UserTesting is a tool that allows you to record videos of how representatives of the target audience use your site or mobile application. You pick up a group of users from your target audience by yourself according to the specified parameters. All actions and user comments are recorded in the service (video + audio). This way you can get more accurate information about problems on your site.

14. Similarweb will let you follow the traffic of almost every site, including one of your competitor. Take a look at your competitors' sites, explore their best strategies and learn how to improve your own.

The service shows traffic sources, keywords by which the site is advertised, the geography of visitors, as well as its popularity on social networks.

Online survey CRO tools

15. Qualaroo is a simple and convenient tool that helps you get valuable information about your audience. All you have to do is decide on strategic research, install the Qualaroo pixel on your website and start collecting data.

Qualaroo’s mission is to help companies understand why their customers and potential customers make their decisions.

16. SurveyMonkey is a popular tool that helps you create and send surveys to anyone in minutes. It is very useful for exploring your audience.

This service is one of the best resources available if you want to know about your target market. You just need to ask the right questions.

17. Olark is a convenient service for communicating with customers in online chats.

The slightest misunderstanding when purchasing can cause your potential customers to leave the site. And here is handy Olark for your needs. It provides the opportunity to communicate with your visitors in real-time and quickly resolve any problems that they may have.

18. i-Perceptions is a great platform for interacting with customers, which allows you to receive feedback from users through online surveys and recognize the intentions of your visitors in real-time, which can increase the overall effectiveness of your marketing efforts.

Testing tools

19. VWO (Visual Website Optimizer) is a multifunctional platform with data collection and the ability to conduct A / V tests without the help of neither developers nor IT knowledge.

This is one of the best services for conducting A/B tests on the site. You can test absolutely any element of your site. For example, you can test the title or picture. These CRO testing tools will calculate the conversion and automatically choose the best option.

20. Optimizely is a tool for increasing engagement, quality of interactions and, as a result, conversions.

The service is equipped with a visual editor that allows you to customize and optimize the most important elements of your site in real-time so that you can find and implement the best user experience.

21. AB Tasty is a multi-functional solution for optimizing customer service, covering everything from research up to the implementation.

The platform includes analytics (heatmaps, session records, etc.), a visual editor, extensive A/B testing capabilities, as well as a number of additional features, such as personalized messages, pop-ups, countdown timers and much more.

22. Unbounce allows marketers to create, publish and conduct A/B tests of landing pages on their own.

Unbounce provides proven landing page templates that you can customize and use for your business.

23. Adobe Target is designed to help you find the most convertible content through tests and find out what really attracts your customers. It will allow you to develop more effective marketing offers and, accordingly, optimize conversions. Full information on how I recommend that you should conduct the conversion optimization process is described at this link: en.makebecool.com/blog/what-are-the-best-tips-for-increasing-conversion-rate.

24. Yozio was created for companies that seek to learn more about users of their mobile applications in order to increase audience engagement, return rate and revenue from each client.

Tools for technical site diagnostics

25. Google PageSpeed Insights checks the download speed, separately for the mobile and desktop versions of the site with recommendations for correcting deficiencies.

26. GTmetrix defines download parameters (time, file size, number of requests); display in different browsers and different devices. It compares your indicators with other sites in the system, builds cascading and video diagrams of indicators, gives recommendations on how to improve certain parameters.

27. Pingdom is a great tool for analyzing site loading speed. Test results are displayed in tables with explanations for each file. It analyzes each site file, site scripts, it also gives optimization tips.

In addition to an accurate assessment, this service shows high-quality results of site verification in comparison with other sites that are tested on this service.

Conclusion:

All of the above-mentioned best conversion optimization tools for business are great helpers in increasing conversions. Do not be afraid of a large number of these tools, since there is no need to use each of them.

Your toolbox will depend on the specific requirements of your online store.

All you need to do is start trying options and choose the ones that suit you. Set specific goals, choose great eCommerce tools for you and test them. It will take a lot of time, but you will be completely satisfied with the result.

If you face any difficulties or need some expert advice, consult our MakeBeCool team. We are always pleased to help and deal with your problem as soon as possible.

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7 A/B Testing Ideas to Boost Conversions

Online store owners seek how to increase the flow of visitors to their sites, to turn potential customers into valid ones, and, accordingly, to increase their sales. In this review, we will show you how helpful A/B testing can be in this case.

The most important goal of landing page A/B testing is to give you understand if it is convenient for a user to deal with your online store. Basing on the test results, you will see the weaknesses of your site and figure out what needs to be improved that it worked better.

Before experimenting with your online store, make sure that Google Analytics can track your conversions and that Google Tag Manager is properly configured and tracks the events and actions you need.

What is A/B testing?

A/B tests also known as split testing or bucket testing are the way to test hypotheses for improving a page, attracting and retaining customers.

You can achieve the following results:

improvement of your online store usability;

smaller numbers of users who leave your site;

acceleration of the process of making purchasing decisions.

How to conduct a split test or A/B testing?

The idea of type a or b personality test is very simple. The site users are randomly divided into segments. One of the segments remains unchanged - this is the “A” control segment; we assess the effect of the changes made on the basis of the data for this segment. Users from the “B” segment are shown the modified version of the site. After we compare the results and analyze the data obtained. It's simple, isn’t it? Let's analyze the details of this process.

A/B Testing Ideas to Boost Conversions

There are several options for testing the hypothesis.

1. AB testing - there are 2 versions of this page: Checklist and Modified version. We can correct the page in simple editors such as VWO, Optimizely, Google Optimize.

2. Multivariate test - there are several options for the control page.

3. Split test -  it is a completely different page design, which is valid on page/v2.

How and where do we work with A/B tests on Shopify:

first of all, we determine the user traffic and conversion rate. Then, using a special calculator, we look for how long we need to conduct the experiment. At this link, you can find more information about the calculator: conversionxl.com;

next, we use ab testing website optimizer such as Google Optimize, or Visual Website Optimizer (but it is on a fee basis, so most often it uses Google), we create a test;

we check the results using a Chi-square calculator. If the value of p <0.05, then with 95% confidence we can say that thanks to these changes, sales or user involvement have grown. The greater the value is, the more difficult it is to determine the reason for the victory of one or another option.

Most importantly, the A/B testing allows you to validate the hypotheses and reduces the risk of financial losses spent on a redesign.

Which elements can you include in ab testing process?

1. Site Navigation

Navigation is one of the key parts of the site. It largely defines how the visitors will use your site. Here we are testing the menu, mega menu, brand selection, adding tabs, bread crumbs - if not, then they are required. You can test their size and content, products catalogization - whether the goods are located in the collections where users expect to see them.

What for? Depending on your audience, you need to decide how it is more convenient for them to choose and find a product, and what they do - as soon as they come to your website, where they are looking for, where they find it, and where they don’t. Perhaps it will be more convenient for them to search through visual content, won’t it?

Try to resize the search bar to improve the usability of your online store.

Check the navigation bar display. Do site visitors prefer horizontal or vertical orientation?

2. Text content

The text content of an online store includes headlines, subheadings, product descriptions, a list of customer benefits, reviews and more. Using these elements you give your client the most important information that influences his subsequent decisions. That is why text elements can and should be tested.

We are testing options for presenting information, for example, on the product card - tabs or dropdowns, how it is better to make a description and where to place it.

What for? Perhaps most of your users do not like to read long descriptions, they are only interested in brief product specifications, as well as the terms of shipment and payment. An equally important component is the sequence of content. You can get that info through A/B tests, sometimes adding a few lines to the description or reducing redundant text may increase your conversions.

3. Visual content

Visual content attracts the attention of visitors much more than the textual one. Therefore, it makes sense to experiment with different photos, try descriptive videos, 3D models.

What for? Perhaps you have a problem in the presentation of visual content. It doesn’t have much to do with your product or doesn’t fully disclose it, the quality of the image and video is very bad - it affects the credibility of your site and product.

You tried the video instead of the banner - but it doesn't work, why? Most likely your users feel uncomfortable to watch the video at a certain moment of the day. Here are some tips about video content: of course, everyone says that the video is the future of effective sales and advertising. However, this will work effectively only if your video is loaded quickly when a client is connected to Wi-Fi and when he uses his mobile Internet. Take care of the content downloading speed, and optimize it. Slow content loading annoys your users and forces them to leave your page.

Test different versions of the product image on the product page. Change the size of the product photo, it's location and targeting format. If the product picture is too small, the user will not consider all its features and will go to your competitors’ site to look for better visualization. Remember that each user is 30-50% skeptical of you, and he also heard from his friends that the goods they received did not correspond to reality.

4. СТА-blocks

The CTA button is a call-to-action button. Such elements are on almost every site. They are one of the most important in the sales funnel: they click them to go from one stage to another.

It also happens that among many other elements the CTA button is not particularly visible to the user - try to specify it so that it is focused. Try different colors, shapes, and sizes of CTA buttons on your site. Note that the text on the button is well-read against the background.

Test the various states of CTA guidance so that it is more obvious that the buttons are pressed and they create a feeling of interactivity on the page.

Try to reposition the CTA buttons to make some CTAs more visible than others. If the button is located at the bottom of the page, place it in the part of the screen that is visible at once, because many users do not get to the end of the page.

Change the call-to-action text on your buttons to see which word or phrase converts more visitors. Instead of “Order now” try “Buy now”, instead of “Download” - “Get it for free”. In this case, note that the button text must correspond to the result that the user will receive after he clicks it.

Your website allows customers to perform just targeted actions: to buy, to register, to download, to subscribe, to share, etc. The user will do what you ask for. However, before you motivate a client to take an action, check the correctness of your calls to action.

One more useful advice: if you advertise your products only with the help of Facebook advertising, check that the Facebook pixel on your site is working correctly. This is important since you need to know which CTA units motivate you to perform a targeted action, and which exist for nice design only. Also, if this tool is installed correctly, you are able to display the ads to the users who click the button you need.

5. Goods and filters sorting

Try different types of sorting for different types of visitors. See if the conversion increases the sorting by popularity for new visitors and by new arrivals for regular customers.

Try to sort by ascending prices for visitors referenced from the adds where you mentioned "low prices".

It also makes sense to test and filter. Make all filters minimized by default. Try to detail only the most important ones, the rest should be closed. Change the order of output filters, display only the most important ones at the top.

6. Registration form

You know perfectly well that few people like to go through the registration process, often users don’t want to enter any data, they are afraid of long forms that need to be filled out. Try to reduce the number of fields, or make a multi-step registration.

Test the layout of this form, perhaps you are too aggressively trying to collect the leads. If the registration form is the first thing that the user sees on the site, then this may scare him. But placing the form after the feedback and the list of benefits is a more rational option for the client, as it will increase the conversion rate.

No one likes spam. Try adding a few words that you will not fill up the emails of your users with useless information. You can say that you will not send them letters more than 1-2 times a week. Please note that this kind of message must be convincing.

Try increasing individual form fields. Large fields subconsciously seem friendlier than others.

Add a description to each field. Perhaps the visitors do not fill out the form completely, because they simply do not understand what exactly to write there and how to do it correctly.

You can simplify the process of filling out a form due to the automatic filling of the fields. For example, you can automatically track a person’s geographic location, time zone, national currency, etc. Therefore you should not ask him to fill in all this information.

Try to place a button with the possibility of registering/entering your store through social networks. Check how the user finds it more convenient to go to your site.

7. The process of registration and payment for the order

Uncertainty scares - the user needs to feel that he is in control of the process. Create a visually visible and clear progress indicator during checkout. A progress bar will help users see how much is left before the process is complete.

At the same time, it is worth testing the payment page i.e. the convenience of the fields, the possible arrangement and order of the elements. What for? Faster checkout contributes to less loss of users at every step, the main thing is that there is enough information necessary for the purchase and various methods of payment and delivery.

A growing number of customers are concerned about the theft of credit card information. Test your payment expansion and check its effect on the conversion.

Add security icons to the form of payment for goods right next to the "Confirm" button. As practice shows, many people find such elements of large importance. It also increases the credibility of potential customers.

Conclusions

Before landing page A/B testing, there is still a long process of analyzing and working with your customer, on the basis of which hypotheses are worked out and they grow into successful solutions.

A/B testing is carried out in order to understand the needs of your users and to make your website more attractive and more convenient for them. With the help of testing, you will increase the achievement of target actions, increase conversion and get more profit.

And if you need help or advice of an expert in this matter, please contact our MakeBeCool company. We will be pleased to help you find the right solution.

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How to calculate conversion rate in 5 minutes?

The best way to track site performance is to calculate its conversion rate. How can you do it? With the help of the formulas, we have picked for you. Spare five minutes to read this article and get a clear understanding of the performance of your online business.

How to measure conversion rate?

CR - conversion rate – is the percentage of positive results in any process compared to general indicators for a certain period of time.

In short, this is the percentage of completed target actions. The target action may mean adding the goods to the cart, visiting a certain page, receiving an application through the feedback form, receiving a lead (going to the website right from the ad), purchasing the goods, etc.

What for should you calculate website conversion rate?

It is necessary to determine the conversion rate in order to evaluate business performance. It often happens that even with high traffic and high store attendance, the number of orders and pre-paid purchases is quite low. This happens because of poorly developed advertising strategies, errors on the web-site, service, or other reasons.

Conversion rate analysis gives you an idea of ​​how your site meets your goals.

The conversion rate should be calculated at any stage of your business - from the business plan drafting up to planning the budget of the advertising campaign. How to calculate conversion rate in retail? First of all, you need to collect qualitative and quantitative data. Thanks to these statistics, you can fix critical indicators and choose a strategy for solving long-accumulated problems.

How to calculate conversion rate in different spheres?

Before calculating the conversion, determine what type you need. Here are the conversion types:

visiting the site;

filling out the form;

adding goods to the basket;

purchase of goods

Below we will discuss how to calculate a conversion rate of different resources.

How to calculate the conversion rate of a target page

This is the ratio of targeted actions made by the user on your site to the total number of visits. The result should be multiplied by 100%.

As you can see, the conversion depends on the goal you aimed to achieve on your site or on any other landing page. In eCommerce, most frequently a primary goal is to sell a product or service.

For example, you want to calculate the conversion from selling mobile phones. If there were 500 website visitors and 15 sold phones per day. Then the conversion will be 15/500 * 100 = 3%.

How to calculate conversion rate email marketing

For this channel, the percentage of successfully delivered emails is measured i.e. the ones that led to sales / retail sales, registrations, or any other specific actions that you aimed to achieve through sending an email.

To calculate the conversion rate, divide the number of recipients who performed the desired action by the number of emails delivered to the recipients. Multiply the result by 100 to get it in percentage.

For example, you sent 1,000 emails, 200 of them returned as undelivered. The number of delivered emails is 1,000 - 200 = 800. Let’s suppose 20 recipients have signed up for your monthly newsletter. Thus, the conversion rate is 20/800 * 100% = 2.5%

Lead conversion rate

This calculation shows the percentage of potential customers among all visitors who visited your site through an advertising link.

For calculating the conversion rate of leads, you should take the number of users who filled out the form, divide it by the number of visitors on your site and multiply it by 100 percent.

For example, thanks to advertising, you succeeded to attract 200 visitors to your website, among which 10 people were potential customers. Then the conversion rate of leads will be equal to 10/200 * 100% = 5%

How to calculate conversion rate eCommerce?

An online store is a resource where users perform the actions you require (conversions). We have already identified the types of conversions and how to calculate them. Being an online store owner, you need to decide on the goals that you set for yourself and calculate conversions using the above-mentioned formulas.

Conversion tracking tools

To correctly calculate the conversion rate, you need to use power tools. At the moment, there is a large number of platforms and services for conversion tracking.

The most powerful and popular analytics tool in the world is Google Analytics. It has many extensions for you to quickly solve very complex problems. You can measure conversion rate with google analytics and track all the steps your client goes through on your site.

If Google Analytics says what’s going on, then Kissmetrics explains who does the action. Kissmetrics is a convenient analytic platform that allows you to track your audience and collect information about it from different devices.

Matomo is an open-source web analytics system with great functionality.

Mixpanel is a web-based platform for mobile analytics and analysis of user behavior in real-time applications.

VWO - is a multifunctional platform with data collection and the ability to conduct A/B tests.

You can also use the internal statistics tools of popular social networks such as Facebook Insights, Pinterest tag, as well as Iconosquare service for Instagram.

What conversion rate is considered high?

The conversion rate is affected by the following factors: type of business, competition, prices, items of trade, website quality, number of customers.

For most business areas, a good conversion rate is between 3 and 5%. That is, among every 20-30 customers there is just one who is ready to buy goods or services of the company.

Here are the average conversion rate statistics provided by Marketing Sherpa for 25 different business sectors:

Source: https://marketingsherpa.com/article/chart/median-conversion-rates-25-industries.

There is no universal index for conversion when we can talk about business success. Therefore, the only correct answer to the question “what conversion rate is considered high?” is your own indicator, which is increasing every month.

A phased and stable increase in the number of conversions is an indicator of stable sales growth and business development.

Conclusions

Conversion data on your site is one of the important indicators of online business. Only with the help of these indicators, you can determine the dynamics of your online project and professional growth. Start calculating them now and using them correctly to improve your business every day and to stay afloat.

Do you have any other questions? Don’t hesitate to mail us. Our experts are always pleased to share their knowledge and assist you in your business growth.

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What are the best tips for increasing conversion rate?

If you are reading this page, it means that you have faced the problem of low conversions on your site. You know that there is a problem, but you do not know how to solve it. Sounds so familiar? Be patient and take care of the conversion optimization process. Below you can read: ✓ what CRO is; ✓ why CRO is important for small businesses; ✓ reasons for the conversions drop; ✓ tools and methods of how to improve conversions.

What is conversion rate optimization?

Conversion optimization is an analysis of existing traffic on your site in order to determine user behavior as well as the interface weaknesses and strengths, and also the low conversion rate reasons and how to increase your conversions. This is work with data on your site.

There is more than one conversion rate optimization definition. As for me, CRO is the process of optimizing a site, as well as the income, a number of leads, conversions, based on quantitative and qualitative data through introducing hypotheses by changing UI / UX, text, graphic content, etc.

As the owner of an online store, you should have a basic knowledge of how to increase conversions, even if you are not going to do it by yourself. What for? You should know and understand your client in order to serve him the goods in the form he needs. Satisfying each customer entails the dissemination of information about your product, which affects the increase in the number of new and repeats sales.

Let's clear it at once, conversion rate optimizer is not attracting new customers as a part of marketing. These are related processes, but they have different goals. An advertising expert attracts users to your site, while a conversion rate optimization consultant determines the quality of visitors and their behavior on the pages.

Why is CRO analysis so important for small businesses?

An online store owner is concerned about the issue of attracting traffic to his website. Okay, you got traffic, and Google started to bring it up, but do you know what to do next? Traffic is the users with whom, as in real life, you need to communicate and motivate to make a purchase. How to do it? With the help of high-quality and sophisticated content on the site. To create high-quality and motivating content you need to know the needs, requests of your user and his behavior on the site. You can do it in two ways:

to conduct a survey among your customers;

to use the tools to determine the behavior on the site.

We use different analytics tools and user surveys depending on the client’s budget. Depending on a budget, you can choose the right tool that will cope with the task at the proper level. But before turning to CRO guide tools, let's consider at the reasons why the conversions drop.

Why does your conversion rate drop?

This is a question disturbing all online stores owners. But let's consider it closely. The drop in conversions takes place when the users leave the site.

Here are some factors that affect this process:

1. Lack of confidence. We conducted our own research and identified the top issues that make your customers concerned before leaving your site:

Why should I send an advance payment for the goods?

What are the terms and conditions of delivery?

The site has no reviews, maybe this seller is unreliable?

How to contact the seller?

The customer is looking for this information in your online store. It is important for him to know that you are a reliable seller, so if the site does not have this data, the customer will go to your competitors’.

2. Inconvenient and incomprehensible interface. The site should work correctly on all devices. This rule has been mentioned more than once, but we decided to focus your attention on it again. Otherwise, the client will get tired of adjusting to errors on your site and he will leave. Also, each block in your interface should carry some meaning. If you overload the interface with unnecessary elements, the client will forget why he went to your site and will leave without a purchase.

3. Lack of value. Why are they so expensive? After all, the sites of their competitors are similar, but the products are cheaper. I’d better order from their competitors’ site. You have to understand that every third visitor of your online store has a similar train of thought. This is okay. However, to prevent a number of similar questions, tell your client about the value of your product. Prove that you have the best goods with the help of the content on your site. To achieve the best result, I recommend that you should contact a designer for some help.

In practice, there may be even more problems, that’s why the phase of collecting and analyzing information is so important.

How can Sellers increase conversion rates?

Conversion increase is a phased and carefully planned process which is based on working with website data. Before you solve the problem with low conversions, decide at what stage they are dropping. You can identify the weaknesses in the interface of your site only using data collection and analytics with the help of a number of tools. For example, you can use the basic Google Analytics tool that allows you to track conversion data and users on your site. We also recommend that you should install Google Tag Manager, - with its help you can track events on the site, install heat maps, and record client behavior on the site on video. These actions will allow you to find the main reasons for drops. I describe the whole list of online conversion optimization tools that we use for analytics below. I advise that you should start with the analysis of weak points in your store, otherwise what are you going to optimize?

Methods how to improve conversions

We have described you a conversion-based optimization theory, but let's see how it works in practice. Since 2017 we have been working with an interesting eCommerce project -  zinvowatches.com. Zinvo is a Swiss watchmaking company with a network of offices in North America, Europe, the Middle East, and Asia.

The owner of the company addressed us with the problem of declining sales and poor performance. The task that our partner has set for us was to find out the reason for the conversions dropping and build a strategy to improve this situation.

To quickly solve this problem, we have worked through the following steps:

Analysis of the funnel and the user's path from entering the site up to making a purchase. As a result of the analysis, we found out that the majority of users make a purchase without visiting the product page, but they add the product to the cart from the categories page.

We also identified problems and hypothesized how we would increase conversions.

After conducting the A/B test, we determined that our hypotheses were successful and incorporated the results into the project.

There are no special methods, just collect, structure and qualitatively analyze all possible data. With well-developed hypotheses - the results of A / B tests will be several times more successful.

How can I increase conversions?

Pretty simple. Below I will describe how to monitor conversion rate optimization and the conversion optimization strategy that we use, and you will decide on a sales improvement plan for your online business:

1. Install event tracking tools on your website.

2. Start collecting data - quantitative and qualitative. For a quality report you will need the following data:

traffic sources;

site loading speed;

the effectiveness of the main page: which blocks are clickable and which do not attract the attention of users;

user path after visiting the main page;

on which page you are collecting the most conversions;

on which page the users leave your site;

pay page performance. Make sure that it is working properly and there is no content on it that distracts the user from the key goal.

This is only part of the information that will allow you to build hypotheses to improve the site. Hypotheses should also be generated correctly.

Having found out the main places of drops - collect qualitative data on the behavior of customers on the site.

Basing on the data obtained, generate your hypotheses to improve the site.

Prepare several types of conversion content.

Run A/B testing your hypotheses. Not every test will be successful, but you can formulate useful conclusions from every failed test.

Choose the version of the site that brings the best results.

Tools to improve conversion rates

I have compiled a list of effective tools that I use in the process of work and I advise that you should test them. Not all of them will suit you, but many will be pretty useful.

Tools for collecting quantitative data analytics:

- Google Analytics

- Matomo

- Mixpanel

- Kissmetrics  

- VWO

Tag Managers

These tools are needed to track events that are not basic ones (clicks on buttons and product cards, filling out forms, etc.)

Google Tag Manager

Matomo tag manager  

Tools for installing heat maps, recording screens and user polls.

With the help of these conversion rate optimization services, you will be able to understand the behavior of customers on the site, as well as determine the reason for their leaving the pages.

Сrazy egg

Hotjar

Lucky Orange

VWO  

Matomo

Cryptocurrency website case: how it works in practice

The owner of an online cryptocurrency store contacted our team. The reason which bothered him was low conversions. Like most of our clients, the store owner realized they there was a problem, but still, he did not know how to solve it. To help him, we acted according to the plan described above: we began collecting and analyzing quantitative data from the site. At this stage, our experts have determined the quality of traffic, sales potential, the conversion rate of each channel.

It turned out that a cryptocurrency wallet was the main channel for sales.  At the time of the analysis, the policy of many advertising services, including Facebook, was rather rigid in relation to cryptocurrency, so our client did not receive traffic from advertising.

We found out that 90% of users who logged on to the site instantly left it, that is, the engagement coefficient was almost zero.

At the main drop points, we installed heat maps, as well as some surveys.

According to the surveys, it became clear that visitors wanted to buy cryptocurrency, but not the goods associated with it.

The same problem was found in heat maps, as well as screen recordings. The fact is that the site had two menus: the first was the store itself, and the second was the group of sites with a large button - when it was clicked the uses got to another site.  Unfortunately, we were not allowed to solve this problem. After 50 entries, it became clear that users did not understand where they were and got lost in the menu categories. That is, the site had problems with navigation.

Basing on the most popular products and screen recordings data, we decided to change the design of the main page. The changes also affected the menu: the category names were corrected to clearer ones, we also applied card sorting. We changed the banner to a more understandable one - it became clear what the site is selling. Then we identified two most popular products and one of the important categories - merch (t-shirts, caps, etc.), which was not shown before.

In the end, after a month of work on the site, we received the following data.

The obtained figures illustrate the result of our team’s productive work and an increase in customer sales.

As you can see, it is quite difficult to find a perfect solution that will allow you to maximize the conversion rate. You will have to do a lot of tests and test everything from images and text up to the design of the layout itself. But this is the essence of conversion optimization.

Having thoroughly examined the landing page conversion optimization rate of your online store, evaluating each of its components for how well it meets the needs and characteristics of your customers, you can improve the quantity and quality of leads. You can not only increase your sales and income but also have returns on investment. And the last tip: trust only the numbers and reliable data on customer behavior on the site. Relying only on intuition and untested decisions, you can make mistakes that will cost you a lot. Test and improvise! If you are confused about the steps or you need some help, please, don’t hesitate to contact us. We will find a solution to your problem asap.

[makebecool]

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[makebecool]

Website is the best way to promote your business. And using website templates is easy, comfortable and not so expensive. This Club Cube theme is perfect for entertainment sphere and night club. It is not ordinary, contains everything you need and can be customized easily. Anyway we will be glad to answer your questions, so do not hesitate to say “hello”.