When you´re trying to figure your conversion rate optimization, you also need to be aware of the KPIs associated with it.
Regardless of what type of business you do or if you are just starting out, having an upper hand in digital marketing goes beyond having traffic visiting a website. It can also be a matter of turning those visitors into paying customers shortly after visiting the site. However, this never seems to happen as often as many would like. Knowing this, there are also 5 KPIs to know about that will make a difference in your CRO.
Distinguishing between a Returning and New User
As far as CRO is concerned, it is important to distinguish the difference between a returning and new user that visits your site on a monthly basis. It is beneficial to your optimized conversion rate due to them being dependent on the content and not very engaging to the audience. In order to understand your audience more, you should concentrate on the content so that they will be returning and remain engaged. As you make your reports, you need to know the correlation between visitors that are returning and new. While your website is being optimized, it should encourage users to make a return visit.
The Rate of Users Who Do Nothing
The rate of users who do nothing is a percentage of visitors who do not engage in the website and then leave. This KPI assists in you recognizing the number of visitors who are only taking a look around and seeing what services and products are available. Having this high rate is likely from the fact that new users are not able to locate what they are interested in buying. Having this KPI will allow you to monitor the content that needs more to it or if a page is at fault for the visitor leaving.
Conversion Cost
A conversion cost is the amount your marketing needed in order to convert a visitor. This KPI is important due to it helping a marketer figure out their ROI. Having an unsuccessful plan of action with CRO means you need a new method or make a slight change to the way things are currently done. The cost of conversion may be high also if no conversion is done. If this happens, then you will only be wasting money on your marketing efforts. For you to have a successful plan for CRO, your conversion cost needs to be low and remain low. This is controlled by a multitude of possibilities such as the number of content visitors are viewing, the number of ads you are showing, and the number of converts occurring.
Rate of Email List Growth
The rate of email list growth is another important KPI to keep in mind. It will show how many contacts your email list has or how many are interested in you and have requested to be on it to receive updates from you. As you have more and more monthly subscribers, you will be able to enjoy many more future customers. When your rate of email list growth is high, then your CRO plan of action is running smoothly. It also means trust is being built from those who are looking forward to engaging with you. On the flip side, if the number of subscribers is decreasing on a monthly basis, then it could indicate a lack of interest in what you are offering.
Page Performance
Knowing what your page performance is like will make a difference in your CRO and the speed of your page plays a major role. Your page performance and speed helps with CRO because it can be determined by the amount of time a visitor visits on a site. By keeping them engaged, you will achieve a higher rate for conversion. However, when a page is taking more time than it should for loading, then you can expect that they will not stick around to see what you offer. Using tools that test a page´s speed will be able to track this performance as compared to other sites.
Conclusion
Using the KPIs listed above will help keep your CRO in check as well as enhancing it. However, there are many other KPIs available for use, which is why you should get a hold of us today to get them implemented for your website CRO.
