If you are ready to make changes and increase your monthly revenue, it’s time to get serious about conversion rate optimization. What is conversion rate and how do you optimize it?
Conversion Rate is when the visitors of your website make a necessary action for you to earn the commissions from the forex brokers and products. It can be signing up for the services, creating an account, making the first deposit, clicking on the banner and others.
So the conversion rate shows you the ratio between the amount of visitors showing up on your site and the actions, which bring the money to your pocket.
Here is a couple of terms you have to get familiar with in order to understand how conversion rate optimization works:
Call to Action (CTA)
This can be a button or a link which brings the visitors to make the desired action, resulting, hopefully, in conversion.
The main pathway the user takes to complete the conversion. It can look similar to the following example: Home page > brokers reviews > selected broker review > register account button.
A/B or Split Testing
This is when you try out different home page layouts and the effect on the conversion results. Can a green button, for example, be much more effective than a red button? Can a link with bigger font attract more clicks?
When the goal is to improve the conversion rate, there are number of things you need to pay attention to make it happen:
1. Total Conversions – amount of visitors who took the desired action (for example, signed with the broker and made a first deposit).
2. Conversion Rate – the number you get when you divide Total Conversions by the number of visitors to your website. (for example, if you have 1,000 visitors per month and 30 from those visitors signed with the brokers and deposited, your conversion rate is 30/1000 or 3%.
Another important factor you need to pay attention to is how much time your visitors spend on your site and which pages are most popular. Take a look at your Bounce Rate to figure out how you can improve the conversion.
Bounce rate shows the percentage of visitors who close your website after going over one page. Very high bounce rate is bad for your site, because for one reason or another the visitors do not find your website informative enough and they cannot find what they came in looking for, so they leave right away and look for another website.
Average Time on Site
Another interesting metrics is the average time people spend on your website before they move on. This metric is closely related to the bounce rate – if the bounce rate is high, the average time of the website is low.
Conversion Rate Optimization
With all that being said, let’s move on to the optimization of the conversion rate to maximize the results and commissions you get at the end of the month.
CRO focuses on what affiliate marketing is all about, convert those visitors into real traders and make you, the affiliate, some money! Working purely on search engine optimization will not take you far if your website is not optimized to convert that traffic.
You can chase the top ranking but it won’t mean a thing if the users leave your website after the first click and go look for something better. So get those big boy’s pants on and include the conversion analysis and optimization in your monthly to-do list.
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