Conversion rate optimization (CRO) is increasing the number of website visitors who take specific actions to boost the generated leads. This is achieved through refining content, conducting split testing, and improving workflows. The result is increased high-quality leads, greater revenue, and lower acquisition costs.
What is conversion rate optimization?
Conversion rate optimization, or CRO, refers to boosting the number of website visitors who take a specific action to increase the leads you generate. This is achieved through refining content, conducting split testing, and improving workflows. The result of CRO is an increase in high-quality leads, greater revenue, and lower acquisition costs.
What is a conversion rate?
A conversion rate refers to the percentage of visitors who take a specific action, such as registering for a service, filling out a web form, or purchasing a product. A high conversion rate indicates that your website is well-designed, formatted effectively, and appealing to your target audience. In contrast, a low conversion rate could result from various factors, including website performance or design issues. Common reasons for a poor conversion rate include slow load times, broken forms, or copy that fails to convey the offer’s value.
How to Calculate Conversion Rate
Knowing how to calculate your conversion rate is crucial for online businesses. To calculate your conversion rate, divide the number of conversions by the number of visitors and multiply it by 100 to get a percentage. The definition of a conversion may vary depending on your business, but once you’ve defined it, calculating your conversion rate is a breeze.
For instance, if you define a conversion as a newsletter opt-in, and you have a newsletter form on every page of your website, you would divide the total number of newsletter form submissions by the total number of website visitors and multiply it by 100. Therefore, if you had 500 submissions and 20,000 visitors last quarter, your conversion rate would be 2.5%.
This process can be repeated for each conversion opportunity on your site. However, counting only the number of visitors on the web pages where the offer is listed is essential. For example, to calculate the conversion rate of your ebook offer, you’d divide the total number of downloads by the number of people who visited web pages where the ebook offer is listed.
Alternatively, you can calculate your website’s overall conversion rate by dividing the total number of conversions for every conversion opportunity on your site by the total number of visitors. Knowing your website’s conversion rate can help you analyse the effectiveness of your marketing campaigns and optimise your website to increase conversions.
How to Use AI for Conversion Rate Optimization?
Understanding what motivates visitors to visit your website is an essential first step in optimizing conversion rates with the help of AI. By studying user behavior and preferences, AI tools can assist businesses in creating a more personalized and engaging experience for their visitors, leading to increased conversion rates.
Various AI tools are available for conversion rate optimization, such as heatmaps, predictive analytics, AI copywriting tools, and AI-powered A/B testing tools. These tools can help businesses analyze user behavior, personalized content based on customer interests, and automate testing to optimize conversion rates.
Top AI Tools for Conversion Rate Optimization
1. Uberflip
Uberflip is a widely used platform for AI conversion rate optimization that enables you to make confident predictions, personalize at scale, and convert customers faster. According to the Uberflip website, their platform combines art and science to engage visitors with experiences tailored just for them, which can significantly reduce sales cycles. Using the latest AI technology and intent data, Uberflip can predict what your users will respond to best, allowing you to provide them with one-to-one, customized experiences that meet their specific needs and interests. Doing so can significantly improve your conversion rates and reduce bounce rates.
2. Node
Node is an AI-powered conversion rate optimization tool that caters to the needs of marketing teams, sales teams, and product development teams. It helps identify the leads with a high probability of converting and contributing to pipeline growth. It helps sales teams find decision-makers of accounts that have the potential to become their best customers. Moreover, product development teams can embed company and people intelligence within their applications. The best part is that this helps improve your company’s conversion rate.
In essence, Node is an advanced AI system that identifies the leads most likely to convert and the companies most likely to evolve into high-paying customers. It also provides intelligent recommendations that your company can use within its internal and customer-facing applications.
3. Shoelace
Shoelace is a cutting-edge retargeting conversion rate optimization tool that leverages the power of AI to deliver highly personalised and relevant advertising experiences to your customers. By analysing customer data and behaviour, Shoelace can show the right ads to the right customers at the right time, increasing the likelihood of conversions and driving revenue growth.
What sets Shoelace apart is its focus on creating memorable and engaging experiences that drive sales and improve brand equity. Using dynamic ads that adapt to customer behaviour and preferences, Shoelace can create a highly personalised experience that resonates with customers and strengthens their connection with your brand.
Overall, Shoelace is a powerful tool that can help you take your retargeting efforts to the next level and drive long-term growth for your business.
4. Keatext
Keatext is an AI-powered platform that uses text analytics to interpret feedback. It’s an AI tool that concentrates on customer feedback to enhance your offerings and conversion rate. For instance, it will scrutinize vast amounts of data from various channels, such as open-survey questions, online reviews, chat logs, and social media posts. Then, it will provide actionable insights that you can utilize to drive business results.
5. Botsify
Botsify is a chatbot platform that can connect with your website and Facebook Messenger to provide your users with human-like conversations. With taglines like “Let your bot chat like a human” and “Increase sales by 30% and reduce costs by 80% using AI,” the platform offers an efficient and cost-effective solution for businesses wanting to improve customer service. What’s more, Botsify features an easy-to-use drag-and-drop interface that makes it effortless to set up and use, ensuring you can get conversions with minimal hassle.
6. Chatfuel
Botsify is a chatbot platform that can connect with your website and Facebook Messenger to provide your users with human-like conversations. With taglines like “Let your bot chat like a human” and “Increase sales by 30% and reduce costs by 80% using AI,” the platform offers an efficient and cost-effective solution for businesses wanting to improve customer service. What’s more, Botsify features an easy-to-use drag-and-drop interface that makes it effortless to set up and use, ensuring you can get conversions with minimal hassle.
Ending Remarks
Conversion rate optimization (CRO) is crucial for businesses looking to improve online performance. Businesses can create personalized experiences that lead to higher conversion rates by effectively understanding what motivates visitors and using AI tools. Utilizing top AI tools like Uberflip, Node, Shoelace, Keatext, Botsify, and Chatfuel can significantly enhance CRO efforts, ultimately leading to increased revenue and customer satisfaction.
