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Learn about game-changing Conversion Rate Optimization (CRO) tactics in this video summary. Discover how CRO can increase website conversions, resulting in cheaper CPAs and higher revenue. Understand the process, rely on data, and always aim to beat the control. Gain insights on emotional authority, congruence, and fixing funnel issues using heat maps and recordings.
The video discusses Conversion Rate Optimization (CRO) and how it helps in getting free money by increasing website conversions. The speaker shares a case study where they double the website's conversion rate, resulting in cheaper CPAs, higher RVs, and more money to the bottom line. The three main takeaways for CRO are to understand it's a process, rely on data rather than opinions or assumptions, and always be trying to beat the control. The video also mentions the importance of emotional authority and congruence between the landing and checkout pages, and how to identify and fix issues in the funnel using heat maps and recordings.
let's start with the end in mind meaning
the last speech and what you shared on
stage maybe you can give us like the
three main takeaways yeah so conversion
rate optimisation it's all about getting
free money so imagine this right and
this is the case study that I shared on
the stage you are we had a website
converting at 2.8 percent and then we
increased it like to 5.3 percent and
that's a double like we literally
doubled the conversion so let's say
you're spending a thousand dollars a day
on ads right and you're bringing in
$2000 at 2.8 now with that you increased
it to five that $1,000 would bring in
four thousand dollars so it's free money
you're not spending any more on ads but
your website is converting more so
cheaper CPAs more margins more of like
higher RVs more and more money and more
to your bottom line and that was the
whole subject of this presentation so I
guess the top main three things I would
say that you need for CRO is number one
you need to understand it's a process
it's not you know it's not changing your
call-to-action button from green to
orange and it's all about data right so
your opinion does not really matter as
weird as that sounds I'm sorry but it
doesn't and assumptions are your worst
enemy in this part of the business it's
all about data the way that I do that
usually is I formally I hypothesis I
structure design and then I test it out
but maybe I'm into academic about that
how do you do it because you want it you
want to be lean about that and just get
the process actually change the step by
step process but in a nutshell is you
build your pages you install your heat
maps your recording and all that
tracking pixel and stuff you sent
traffic you collect the data you look at
the recordings you come up with theories
like what why why people are clicking
there what people are not clicking here
what if we change this so we can get
that and then you make this changes and
you send more traffic and then you find
the winner like okay the split test is
the winner then you take that you rinse
and repeat so the idea is to always be
trying
to be the control beat the control day
and night that's that's your job as a
marketer as a CRO as a media buyer like
even in the media by side you know like
you have an ad on Facebook your job is
to have a better ad of course the same
thing with the CLO your job is to have a
better converting page if you look at
your funnel and if you look into
conversion rate optimization what are
the three top things you should look at
so it depends where people are leaving
in your funnel like when we talking
funnel we're talking you know the
landing page the checkout page the
upsell page the downside page Thank You
page which is also important but most
people ignore so let's say people are
dropping off your your checkout page
right they are adding to cart but at the
checkout you're building a funnel
whatever platform you are on and people
are dropping on to check out why I mean
we know they like that they click they
went to the page they read more or less
your copy they liked what you're selling
then they went to the checkout page
usually people drop of the checkout page
because you don't aspire confidence to
buy from you people don't like they read
the the checkout page and there is
nothing that push them like that
emotional Authority Authority is not
existent like now you know no money-back
guarantee no FAQ no phone numbers know
who you are no logo no what do you call
them the trust seals you know Visa
MasterCard all of that that helps so
when they are dropping for the checkout
page you know it's more or less an
emotional problem or the flow of your
checkout page is bad or what I see is
your offer on the landing page doesn't
match your offer on the checkout page so
and this happened a lot to Shopify click
the ad free shipping today they go to
the page free shipping if you buy today
okay I took card to go to the checkout
for 95 shipping doesn't work not ideal
now know what I mean so it's either like
in the checkout is either an emotional
thing or your offer is not congruent
with what you actually have on the
checkout page now that's how you break
it down so most people you know look oh
my god my product is not working my
funnel is not working and you need to
know what is not working what's the
fastest way to find out how you're
broken so yeah so basically what you do
you know you install your heat maps you
install your recordings using hot jar or
crazy egg or whatever software are you
using and
take the traffic there and here is here
is another thing most people like will
settle for less oh I'm good they got
four percent conversion rate I'm good no
you're not you need to be trying to beat
that get to five get to six get to seven
not I mean you're never good there is
someone else who will win outwork you we
will convert more than you who can
afford more you know who can afford to
spend more to acquire the customer
because of his cro like his conversion
rate is double venue and then you will
be out of business
fantastic that was more thank you thank
you always a pleasure
Conversion rate optimization (CRO) is all about getting free money. By improving the conversion rate of your website, you can bring in more revenue without spending more on ads. For example, if you currently spend $1000 a day on ads and bring in $2000 with a conversion rate of 2.8%, increasing your conversion rate to 5% would bring in $4000 without spending more on ads. This means cheaper cost per acquisitions (CPAs), higher margins, higher revenue, and more money to your bottom line.
However, CRO is not just about changing your call-to-action button from green to orange. It's a process that requires data rather than opinion or assumptions. Here is a simple process for CRO:
What are the top three things you should look at in your funnel for CRO? It depends on where people are leaving in your funnel. For example, if people are dropping off at the checkout page, it's usually due to an emotional problem or a bad flow of the checkout page. It could also be that your offer on the landing page doesn't match your offer on the checkout page. Therefore, you need to install heat maps and recordings to find out why people are dropping off and come up with solutions to fix those problems.
CRO has a significant impact on the affiliate marketing industry because it allows affiliates to generate more revenue without spending more on ads. By improving the conversion rate of their website, they can increase their margins, lower their CPAs, and bring in more revenue per visitor. This gives them a competitive advantage over others in the industry who are not utilizing CRO. Therefore, affiliates who are serious about their business should focus on CRO as one of their key strategies.
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