Conversion Rate Optimization 101
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Conversion rate optimization is simultaneously simple and complex. The pieces are fundamentally the same but the methods with which you can tweak and adjust to increase your conversion rates are various, and generally not standardized.
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Conversion Rate Optimization 101
- 1. HOW CONVERSION OPTIMIZATION WORK
- 2. AUDIENCE CONVERSION THERE ARE 4 ELEMENTS
- 3. AUDIENCE CONVERSION 1 2 3 4 Ad / Traffic driver Landing Page w/ offer
- 4. AUDIENCE CONVERSION CTR CPC 1 2 3 4 Ad / Traffic driver Landing Page w/ offer a) Ads are targeted to an audience b) A certain percentage of people that see the ad, click the ad (CTR) which based on the budget, creates an average cost per click (CPC) c) Once on the page, a certain percentage of people convert either through buying, or providing an email address (opt-in) (Conversion Rate)
- 5. AUDIENCE CONVERSION CTR CPC Ad / Traffic driver 100 PEOPLE 10 PEOPLE CLICK =10% CTR = $10 CPC $100 AD BUDGET 1/10 PEOPLE CONVERT =10% CONVERSION RATE = $100 COST PER CONVERSION
- 6. TO GET MORE CONVERSIONS, YOU HAVE 3 METRICS YOU CAN OPTIMIZE FOR
- 10. TO IMPACT CTR AND CPC, YOU HAVE 2 OPTIONS
- 11. AUDIENCE CONVERSION CTR CPC 1. MORE TARGETED AUDIENCE
- 12. AUDIENCE CONVERSION CTR CPC 2. MORE TARGETED OR CREATIVE AD (BETTER CREATIVE)
- 13. TO IMPACT CONVERSION RATE YOU HAVE 3 OPTIONS
- 14. AUDIENCE CONVERSION CTR CPC 1. BETTER LANDING PAGE DESIGN OR BETTER LEAD MAGNET
- 15. AUDIENCE CONVERSION CTR CPC 2. MORE TARGETED AUDIENCE
- 16. AUDIENCE CONVERSION CTR CPC 3. AD CREATIVE NEEDS TO CREATE EXPECTATIONS THAT MATCH THE LANDING PAGE LEAD MAGNET
- 17. If you’re trying to optimize your audience… Your audience may be too broad •Try refining the audience by age, gender, location, or interests. Your audience may be too narrow •Try adding additional audiences like website visitors, your email subscribers, or lookalike audiences. You may not be in the right place at the right time •Try running your ads at different times of day, or days of the week. •Try selecting different places to display the ads (instagram, mobile feed, or audience network).
- 18. If you’re trying to optimize your ad creative… Your headline might suck •Try A/B testing multiple headline formulas. Your image might suck •Try A/B testing different images. You might be using the wrong ad format •Are you trying to get conversions with a video view ad? Are you not driving traffic with Page Post ads? Check for the right objective. You might be using the wrong ad format •Try a video instead of a still image. Try a carousel instead of a single photo. Try a Canvas ad or a Lead Generation Ad.
- 19. If you’re trying to optimize your conversion page… Your offer might suck •Maybe they just don’t want your lead magnet. •You also need to make sure the offer matches the ad copy. Your page might not have enough information •People now look at more information than ever before. Be sure to add enough. Your page might have too much information •Maybe people are getting lost in all the copy. Try simplifying it. You may have things getting in the way •The more fields you have in your form, the lower the conversion.