What Is Conversion Rate Optimisation?
Optimising conversion rate is about improving the number of leads you convert into business, and for many businesses, it’s a top priority. In fact, if you’re unhappy with your own current conversion rate, then you’re not alone. 78% of companies report that they are disappointed with their existing CRO.
Unfortunately, much of the common wisdom that works to improve conversion rates is B2C-exclusive. For example, in a B2C context, a consumer may convert after a single visit. But for B2B? They may need to visit your site 4 times before converting.
For B2B, conversion rate optimisation is a whole different ball game.
The question is, how can you win it?
But before we answer that, let’s take a step back and have a quick overview of CRO.
What Is A Good Conversion Rate?
What’s a ‘good’ conversion rate? It depends.
Conversion rate differs in terms of what channel you use and what industry you are in. Generally speaking, the average conversion rate across industries is a low, low 2.35%. This means that only 2 or 3 out of every 100 visitors to your site will convert.
Examples of conversions across industries include:
- B2B Tech – 2.4%
- B2B Services – 5.7%
- Industrial – 7.4%
- Financial – 5.8%
These are just averages. By contrast, the top 25 companies (who use CRO effectively) are hitting conversion rates of 11.45%.
Thankfully, boosting a low conversion rate isn’t as difficult as you might think. There are some simple steps you can take to increase your business’s bottom line and help your business grow and profitability.
The Largest Digital Marketing Opportunities Worth The Squeeze
To boost your conversion, you need a full-on optimisation strategy. This is a vital process you’ll use to gain the results you want with your marketing campaign. This crucial procedure can work immediately because it doesn’t depend only on attracting more traffic.
It also helps in getting more audience through highly targeted keywords, improving ranking in search engine results, maximising the ROI. By doing these, you can get a competitive edge over others in your industry. You can then run tests to check whether your conversion rate optimisation steps were successful.
As much as similar to the CRO (Conversion Rate Optimisation) but it lays the first brick on the journey. Once you have a good foundation of strategies, take the next step to convert it to CRO.
Using Conversion Rates To Crush Competitors
A B2B digital marketing strategy focused on CRO will give you the upper hand against your key competitors. In fact, you won’t just keep your leads, you’ll take theirs too.
Get Qualitative And Quantitative Data Before You Start
There are a number of tools you can use to gain data for conversions. These include:
- Google Tag Manager
- Google Analytics
- Crazy Egg
Use these tools to understand how and why audiences interact with your website. Qualitative and quantitative data will show you areas that need conversion rate optimisation on your site.
Quantitative data gives you the numbers. Qualitative data helps you understand why the numbers are as they are. You’ll need both. Qualitative data will provide you with key insights into behaviours such as high bounce rates.
Know Your Audience
A massive variety of people will be visiting your B2B website. They’ll provide different inputs and make critical decisions.
If you understand your audience, you’ll improve their overall experience. Use the data to track your journey and find out where or when you’re losing them. You need to know where they are in the conversion process.
Re-Engage Website Visitors
96% of people who visit a website will leave without a conversion. That’s a massive missed opportunity.
- Social networks
- Online searches
Retargeting can boost website visits by 700%. You might think that this will only work for a B2C model, but surprisingly, it actually works better for B2B.
Taking These Actions To Boost Your Website Conversion Rate
Improving your website conversion rate is all about making your website operate in a way that drives the most leads. If you do this correctly, you can make your website highly engaging for the audience.
So, are you ready to discover the key changes you need to make to help your conversion rates triple?
Solve Poor UX Page
User experience is everything for a B2B digital marketing strategy. You need to understand the interactions and add ons that users hate
Pop-ups or ‘interstitials’ are great examples. It might seem like a great idea to encourage greater conversion by throwing pop-ups at a user, but the reality is that they create poor user experiences the vast majority of the time.
Another stumbling block is poor on-site navigation. A website has to be easy to get around.
Add internal links to key pieces of content.
Make your site easy to understand and use links to lead users down the paths you want.
A website is a front line you can use to communicate with your customers, potential audiences, and the rest of the world. Remember, all your audience needs is a little nudge to make a decision.
Create Text-Based Calls-To-Action Within The Blog
CTAs are a key strategy you can use to send users down the right path. The right call to action will fit within a blog on your website and deliver additional value. Users should know after reading a blog that following a CTA will help their process.
A good CTA is one that is both relevant and compelling.
Add Lead Flows
10% of popup forms convert at 9.3% according to Sumo. But wait, isn’t this counterintuitive compared with the advice above?
The truth is that popups work – IF they are used the right way. Your lead flow needs to match the page and information provided. The call-out needs to match the content too. You have a couple of lines to convince people to enter their info. These lines need to be actionable and interesting.
Take this advice and lead flows can be a solid element of your B2B digital marketing strategy.
The Secrets To A CRO Success
The secret to success with conversion rate optimisation doesn’t end with putting the right strategies in place. You’ve used the tools. Now you need to make sure they work.
Landing Page Testing
The average landing page conversion rates can be as high as 13% for B2B models. But only if you test them first. Testing them will ensure that your users are reaching the CTA without clicking off.
A/B testing is key here. The split testing format is an essential part of B2B digital marketing. When testing your landing page look at:
- Bounce rate
- Session duration
- Visitor-to-lead conversion rate
Run A/A Testing Before A/B Testing
Before you run A/B testing as part of your B2B digital marketing campaign, use A/A testing. This will test two identical versions of the same page. It might sound useless, but it checks if the software or tool you’re using works well. If there’s a fault, you can’t trust the accuracy of the A/B testing tool.
Using these strategies will ensure you unleash the full power and potential of conversion rate optimisation for your business. The right strategy will help you obliterate your competition. Instead of trying to increase traffic to your site, you can focus on building up leads with people who are already showing up. Effective CRO strategy can exponentially increase the number of leads or sales quickly and efficiently.
If you are new to CRO and need a hand to get started, get in touch with the experts at Pounce Marketing – no matter what industry you are in, we will make sure that our very best resources are available for you to help you score that winning conversion.