Today simply driving traffic to a website or landing page is not enough. Conversion rate optimization is both the art and the science of increasing the percentage of visitors that complete a meaningful action, such as filling out a lead form or making a purchase. Our data-led conversion optimization strategies ensure that you maximise the ROI of your most important digital asset: your website.
Why conversion rate optimization?
The ever-evolving online landscape means that if you’re not keeping up to date with your audience, you’re going to lose them to the competition. Ultimately converting your current audience is a lower cost proposition than acquiring new audiences.
Conversion rate optimization is…
A structured and systematic approach to improving the performance of your website: Informed by insights, specifically analytics and user feedback. Defined by your website’s unique objectives and needs (KPIs). Taking the traffic you already have and making the most of it.
At Punch Media we make this happen by: Improving calls to action (CTA). Building conversion funnels and Implementing A/B or split testing and multivariate testing (MVT).
Our approach to optimization
It’s simple really. Using analytics we examine four critical data points: bounce rate, exit rate, average time on site and average page views. Then we develop a plan that improves CTA’s, builds effective conversion funnels and finally we implement testing to discover what works best to achieve our clients goals. It’s measurable, effective, and scalable.
Bounce rate is the percentage of people who leave after viewing a single page. A high bounce rate is not a good thing. For whatever reason, people aren’t finding what they’re looking for, or any compelling internal links, so they exit the site.
You also have a specific exit rate for each page; it’s the percentage of people who leave after viewing the page. Your exit rate lets you know the last page that users view before they move on. A very high exit rate on a specific page can be a red flag.
Average time on site
An engagement metric, the average time on site gives you a general idea how long people are sticking around. A high bounce rate means a low average time on site, visitors aren’t sticking around long enough to do whatever it is you want them to do.
Average page views
Average page views is also an engagement metric that tells you how many pages the average visitor views before leaving. More page views can mean engagement or mean a lack of clarity in your conversion funnel, if there is no conversion.
Call to action
This is the one thing you want people to click on your page. Your call to action may be a banner, button, or some type of graphic or text on a page meant to prompt a user to click it, and continue down a conversion funnel. The call to action is what you’re trying to steer attention toward, the “ask” every campaign is built around, your landing page’s raison d’etre.
A conversion funnel is really an idea or a way to visualize and comprehend the flow and conversion of potential customers into paying customers. If you can understand and analyze the process, then you can take actions to improve that flow. First, your potential customer becomes aware of you or your product. Second, you build interest in your product. Third, you need to plant the seed of desire for your product or service. Finally, ask for an action, such as to buy something or sign up for an email list.
A/B testing (sometimes called split testing) is comparing two versions of a web or landing page to see which one performs better. Traffic is distributed between these versions to find out which version gets the highest conversion rate, generates the higher number of leads or generates higher revenue.
A Multivariate Test or MVT is a test where we test individual page elements, instead of whole pages. In Multivariate Testing, you select different elements of the website page or landing page on which you want to run the test. Different variations of these individual elements are then created and combined to create different versions of the page. Traffic is then distributed amongst those versions to find out which version gets the highest conversion rate, generates the higher number of leads or generates higher revenue.