Best Conversion Rate Optimization Tools

What Is Conversion Rate Optimization (CRO)

The standard rulebook of any marketing efforts is to drive traffic toward websites, which then converts into leads or customers."

Conversion rate optimization, or conversion optimization, is all about increasing website performance. The process enables people to take action when they visit a website. These changes occur over different pages of your websites, such as the homepage, blogs, pricing pages, landing pages, and more. By optimizing those pages in a certain appealing way, your business can increase the chances of converting visitors into leads.

That’s where conversion rate optimization software comes into the picture. The software aids in the process of lead conversion. It gives businesses testing and visualization tools to help improve users’ experience and thus, increase your conversion rate.

In short, the conversion rate optimization software increases the chances of web visitors' actions. Some of which include downloading a resource, requesting more information, submitting a form, or subscribing to a free trial. In addition, it works alongside other analytics software for tracking visitor behavior.

How Do You Calculate Conversion Rates?

One of the most important metrics for businesses that operate online is the conversion rate. If you don’t know how to calculate the conversion rate, then you are in for doom.

More often, businesses that chose to ignore the math end up overpaying for their leads and sales. That’s why it’s essential to know how to calculate the conversion rate. So how do you do it?

In simple words, a conversion rate is basically the percentage of successful conversions that complete a certain goal. You need to start by setting up a goal. A conversion goal may vary depending on the specific nature of the business. It could be:

• Signing up for a newsletter"
• Purchasing a product"
• Subscribing for a service"
• Creating an account"
• Downloading the resource, etc.

Once the goal has been set, the next step involves calculating the rate. There are three formulae to use:

1. "(Total number of conversions ÷ Total number of unique visitors) * 100 = Conversion Rate"
2. "(Total number of conversions ÷ Total number of sessions) * 100 = Conversion Rate"
3. "(Total number of conversions ÷Total number of leads) * 100 = Conversion Rate"

All three formulae are valid. The one you are going to choose depends on what exactly you are defining as your conversion event. The numerator measures your conversion, which is defined by your conversion goals, and the denominator will be what you define as your total traffic.

For instance, you have 2000 unique visitors per month, which generates 200 unique orders. Thus, the conversion rate is 10%.

Benefits of Conversion Rate Optimization Software

The main purpose of CRO is to make your website efficient to drive more traffic toward it. When you use conversion rate optimization software, you put all your efforts toward making your site as valuable as possible. It makes you focus on your leads, which increases the chances of them becoming your paying customer.

Let’s discuss the benefits of using conversion rate optimization software in details:

1. Finds Out Useful Insights

   By using CRO software, you can discover profitable segments of visitors and personalize the content for every traffic segment.

   As a digital marketer, it’s important that you have all the information about your leads. Firstly, conversion rate optimization software can analyze market segments by profession, age, location, sex, and other demographics. And secondly, it lets you observe their website visiting behavior.

   By doing that, you can investigate your visitors’ buying intentions, identify the reasons they like or dislike your site, and why they abandon the shopping cart. It gives you a much better sense of what your customer is looking for, and you can try to match their needs to increase the chance of a conversion.

2. Increases Profitability

   The very aim of any e-commerce conversion rate optimization is to boost sales, which will ultimately result in increased profitability.

   When you are trying to increase conversion, the first step is to make your website efficient. It automatically shortens the time from lead to purchase and skyrockets your sales number.

   By using conversion rate optimization tools, you can find out what’s stopping your visitors from converting. And once you have that information, you can use it to make your website customer-friendly.

   You can do that by website testing, enhancing your text content, reducing navigation options, and upgrading your site’s visuals. The best part is that you can do it all by using conversion optimization tools, without being dependent on the IT team.

   Once you find out what’s working for your website and you bring all the elements together, the sales number will start improving. Thus, it also boosts the average order value and revenue per visitor.

3. Builds Loyal Customers

   When you know what your web visitors want, you can address their expectations on your pages. They will see your pages as intuitive to their needs; enhanced images, texts, and navigation, and it will leave an impression on their mind.

   They will probably linger there longer, increasing the chances of conversion. When you provide an enjoyable experience to your user, there is a higher likelihood that they will recommend your product or service to others.

   One biggest advantages of website conversion rate optimization are that happy visitors might share your site on social platforms, like Facebook, Reddit, etc. It will improve your website visibility, which will bring more leads to your site. And if your website is efficient and well-optimized, you will increase the chance of those leads becoming your loyal and paid customers.

   In a nutshell, a conversion rate optimization is a tool that helps you build trust with your customers.

Types of Conversion Rate Optimization Software

Depending on their functionality, conversion rate optimization can be classified into the following:

1. Page/Website Optimizer

   Website optimizer tools are there to help determine which page will be the most successful among your visitor. Conversion rate optimization tools like A/B testing, heat mapping, and funnel optimization help improve the efficiency of specific pages or websites as a whole. Even a small change can have a huge impact on the conversion rate. These tools help you find out traffic sources and where the visitors are engaging on your website.

2. Quantitative

   The quantitative CRO type provides you with core web analytics tools. It gives you an insight into the critical metrics of your website action. It gives you information on:

   1. Sources of visitors
   2. Users’ engaging behavior on your website
   3. Demographic information about your visitors
   4. Pages that are most engaging
3. Qualitative

   A qualitative CRO is there to find out the reason behind your web traffic. It helps break down your large audience sets into smaller niches using feedback surveys, user testing tools, on-site surveys, and more. Thus, you are then able to focus on the customer segment, which brings the most profit.

Various Features of Conversion Rate Optimization Software

For conversion rate optimization software to be effective, it should have a certain specific set of features. Those are:

• Analytics

  This is the general set of feature which almost every CRO software should have. It gives you insights on web traffic metrics such as scrolls, clicks, and shopping cart abandonment. And these metrics can be used to measure your success and set a goal around it.

• Multivariate Testing and A/B Testing Tools

  A/B testing, or split testing, and multivariate testing are performed on landing pages or ads, page designs, and mobile responsiveness. It helps you fine-tune the website to achieve a higher conversion rate.

  The only difference between the two is that A/B testing software is great to determine the effects of single elements. Whereas, multivariate testing is useful when a website has too many conflicting elements. It helps you redesign a complete website.

• Heat Map

  A heat map is there to let you know about the most visited or clicked section of your web pages. It uses a color coding overlay on specific pages, and red is considered the hottest element.

• Speed Test

  You need fast-loading pages if you want your visitors to linger on your website. There are specific conversion rate optimization tools that help you analyze your website’s loading speed. And it also comes up with suggestions on where it needs improvement.

• Survey Tools

  The best conversion rate optimization tools include survey tools, such as multiple choices, questionnaires, quizzes, polls, and other forms to receive customer feedback. It may also include advanced analytics.

• Readability Score

  For website conversion rate optimization, it’s essential that your design and content are easy enough to grasp. This readability score tool comes with a scoring meter that evaluates whether your content is easy or difficult to read.

How to Choose Best Conversion Rate Optimization Software

The key to selecting the best conversion rate optimization tools is to start by designing a conversion optimization strategy. And once that is in place, there are certain factors that need to be considered.

• Vendor Support

  Regardless of your conversion optimization strategy, you must be careful when choosing your vendor. Find the one that guarantees reliability. You can check their user ratings and review, and perform research on the shortlisted vendors. It may be easy to find big companies in the market, but we often miss out on more-fitting small vendors if we are solely relying on branding.

• Functionality

  Another important factor to consider is the features it has to offer. Some vendors package it separately or bundle it by type. As no conversion optimization solution offers all the features, you may end up buying 2-3 different types of conversion optimization tools. That’s why always choose the type that matches your business needs

• Usability

  Some companies choose their software based on its ease of use. However, software with a comprehensive set of tools will be more complex and also require more resources to implement. At that point, ensure you have the right amount of IT support required to install and operate.

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