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Category: conversion rate optimization

Conversion Rates in Affiliate Marketing

Conversion Rates in Affiliate Marketing

<img src="/images/conversion-rate-optimization.jpg" alt="An image at http://www.searchenginemag.com/grab-more-customers-with-advanced-conversion-rate-optimization/ for the blog post "Conversion Rates in Affiliate Marketing" />

What is CRO or conversion rate optimization?

  • CRO is a system for increasing the percentage of visitors to a website that convert into customers or more generally take a desired action on a webpage.  This is according to Wikipedia
  • The desired action to your web page is might be signing up for your newsletter, buying your product, signing up to your list for example.

What is Conversion Rate?

  • This is where the numbers come in to play.  Say you have 5000 visitors to your website and you have 50 conversions.  You divide 5000 into 50 and you get 0.01%.  That is your conversion rate.
  • The industry standard is 6 to 9%, but even that can be challenged as shown here

We are going to get more involved now, but it is important.

  • Bounce Rate:  Your Bounce Rate is the percentage of people who leave immediately after viewing a single page. 70% of your visitors will bounce or stay only 30 seconds before leaving, this is the average.
  • Exit Rate:  The Exit Rate to determine how long the viewer has visited each page of your website.  It is the percentage of people who leave after viewing each page.  It lets you know the last page the viewer visited after moving on.
  • Average Time On Site:  The Engagement Metric or Average Time On Site lets you know how long your visitors are staying which ties in with the Bounce Rate on a site.
  • Average Page Views:  This is another Engagement Metric that tells you how many pages a viewer visited before leaving.

The true metric for a website owner is not how many hits the website has received but the specific hits that lead to conversion.

Why should you care.

  • You are most likely paying for traffic to your site, therefore a high conversion rate means a better return on investment (ROI).  It is more cost effective to to convert a higher percentage of visitors you already have then to attract more visitors.
  • In addition, it defends against the limited attention span of your visitors by giving them what they want before they move on.
  • It is important to optimize to find the customers that love your product and will help you by spreading the word.

CRO is not based on a hunch or what the latest popular guru thinks.

  • As far as your profit margin goes and since CRO is free the more you fine tune your website the more profit you will make.  Testing your website will in the long run save you money that you may use to buy traffic.  You want your visitors to return and become your regular customers.

 

How do you start a CRO system for your website.

  • Start by gathering your conversion optimization data gathering tools of choice. I use google analytics.  Its free and since its google your sitting in the horses mouth, so to speak.  If you have gmail you can sign in with your gmail address and its password.
  • If you have WordPress  as your platform there are google analytics plugins available.  Another WordPress plugin is "Wassup" or Wassup Real Time analytics. This plugin gives you timely information about the visitors that visit your site.  "Slim Stat Analytics" is another plugin that analyses the behavior of the those that visit your WordPress site.

I thought you would like to see a print screen image of my google analytics data for this blog.  The data that has been collected by Googles Analytics is between Oct. 31 2016 to Nov. 30 2016.

<img src="/http://imagizer.imageshack.us/v2/800x600q90/924/qMbMAh.png" alt="An print screen image of data interpreted by google analytics for Conversion Rates Optimization in Affiliate Marketing" />

<img src="/http://imagizer.imageshack.us/v2/800x600q90/924/qMbMAh.png" alt="An print screen image of data interpreted by google analytics for Conversion Rates Optimization in Affiliate Marketing" />

<img src="/http://imagizer.imageshack.us/v2/800x600q90/924/qMbMAh.png" alt="An print screen image of data interpreted by google analytics for Conversion Rates Optimization in Affiliate Marketing" />

Other Tools

A/B Testing

This is a simplified explanation, A/B testing is an on going practice to your affiliate web page to fine tune it so you and your customers can get the most out of it.

The tool that would be a good fit is https://www.google.com/analytics/optimize/.

Its not up yet but there is a box to add your email address for an invite and google will notify you when they are ready.

Or check out these tools from   http://www.lunametrics.com/blog/2016/05/18/free-cro-tools-ux-ab-testing/#2-google-analytics-content-experiments-%E2%80%93-free

I thought you might like to know that

Google Analytics Content Experiments

might be good to use but you do need to have an account with Google analytics as you will need to intergrate that.  I also feel that the google analytics/optimize maybe be a newer version.

 <img src="/images/ customer-comes-in-in1am6.jpg" alt="An photo at https://makeameme.org/meme/customer-comes-in-in1am6 for an humerous explanation at Conversion Rates In Affiliate Marketing blog " />

In conclusion

You are probably thinking that this is more complex then I signed up for when I decided to become an affiliate marketer.  Fine tuning your website conversion rate is time consuming but fortunately their are alot of tools offered to help you.  Just make sure you pay attention to the features in those tools as some are free and you have to pay to get the full monty.

Just google "free conversion rate optimization tools" and you will be on your way to finding the tool that is specific for your unique website needs.

Next:  Funnel Optimization

There maybe some affiliate links in my posts but that does not mean you have to buy anything unless you want to.