Conversion rate optimisation and conversion volume optimisation in Singapore are two tactics that people in business have to master. In 2012, optimize smart came up with the conversion volume analytics term as another way of reading and understanding web analytics.
For a very long time, everyone in business has been trying to understand and optimise conversion rates. With web analytics firms promising to help a businessperson in Singapore have a 280% increase in conversion rate, the question is where does conversion volume optimisation in Singapore come in?
Questions that Lead to the Need for Conversion Volume Optimisation in Singapore
Conversion rate optimisation, CRO, is used to help a marketer gain more insight into their marketing strategies and successes. As much as he or she may be driving a lot of traffic to the company’s website, a CEO in Singapore will want to know if the traffic is meaningful to the business. This is where CRO comes in. However, in recent years, a lot of questions have built up since the introduction of CRO.
If a company in Singapore experiences over 280% in increase in CRO, does this mean that the company is now a multi-billion enterprise in dollars? Is it now able to pay all its bills and still have a considerable sum of profit for the company’s growth?
Such questions will not only make you re-think the efficiency of CRO but also lead you to the consideration of conversion volume optimisation in Singapore. You will also need to understand if the conversion rate is a goal-oriented conversion rate or an e-commerce conversion rate.
How and when conversion rates are calculated is a question that makes it hard to track the performance of companies in Singapore that advertise their expertise through conversion rates. If you want to answer some of these questions more efficiently, you should consider using conversion volume optimisation in Singapore.
CRO Issues that are Solved by Conversion Volume Optimisation in Singapore
Traditional CRO has a lot of things that people get wrong. However, even those who consider themselves knowledgeable in CRO are prone to some CRO issues. Let us take a look at the CRO issues that may be a doorway to one considering conversion volume optimisation in Singapore.
How Google Analytics gathers conversion rates’ data is not wholly correct. It adds the goal conversion rates of each goal and presents the sum as the total conversion rate for a particular website. For example, having five goals, each with a 20% conversion rate will give you a 100% conversion rate.
Google Analytics is also misleading in the way it uses each website visit in the conversion funnel. You should know that not every visit means that there has been a conversion hence making this calculation invalid.
There are many ways of calculating conversion rates. Some of these methods include having different values for the same goal in different seasons. A goal conversion rate value during peak seasons may not be the same value with the same goal in an off-peak season. This makes data for conversion rates challenging to collect.
You can find ways to make these issues go away, but that makes the work heavier. This is a sure sign that considering conversion volume optimisation in Singapore is one of the best decisions you could make.
Unless you are into data segmentation, interpreting data that has already been wrongly collected is difficult. The ratio metrics nature (e.g., number of bounces/number of entrances) of conversion rates makes it more misinterpreting.
Giving an example of a company whose visits increase by about 800%, Google will record a 0.5% fixed increase in conversion rate, unless you know how to segment your data. On the other hand, with conversion volume optimisation in Singapore, a $300 increase is a $300 increase. Nothing is complicated since it is a number metrics.
The interpretation issue automatically leads to a data reporting issue in Singapore. A 5% conversion rate may mean anything. It could be that five people out of a hundred who visited your site converted their visits to sales. That number could change to 50 people out of 1000 visits. The possibilities are infinite.
One cannot adequately report such a message to their senior without having to break down all the segments which could be time-consuming during a presentation. For businesses in Singapore, numbers communicate faster as compared to ratios.
Numbers show money summations openly. If you are not able to show a board in Singapore the money value of your work, it is tough to explain what profit you add to the business. Clients in Singapore will appreciate your efforts more if you tell them that the orders on their website have tripled in the last five months other than telling them that they have had a 0.5% increase in conversion rate.
When you use conversion volume optimisation in Singapore, your data reporting will be clear and straight to the point which saves you from a lot of questions from the board.
Given that a conversion rate is a metric ratio, it is not practical to optimize it. A 1% increase in conversion rates is not achievable since you cannot control what people do once they visit your site. You can increase website visits, as you should for a growing company, but this does not mean that your conversion rate will increase at the same rate.
If you are a marketer in Singapore, you will understand that getting a reasonable conversion rate is not easy. For example, a 1% increase may mean making a $ 1 million to $ 10 million increase in sales.
On the other hand conversion volume optimisation in Singapore does not have such issues. Given that it is a number metrics, you can have numeric targets and achieve them quickly.
The above comparisons show that conversion volume optimisation in Singapore is the coming up with methods to have an increase in the amount of money you make from conversions at a particular time.
A Google Analytics report will not clearly show conversion volumes. You will need to customize a report that lists conversion volumes in every traffic source. This does not mean you discard the idea of using CRO completely. Instead, use CRO as a nerd and know your conversion paths. Have segmentations and conversion volumes together with conversion rates.
Get in touch with us for more details about digital marketing in Singapore and the services we offer in this realm.