Conversion Rate Optimization (CRO)
Conversion Rate Optimization (CRO) is a process of building the percentage of visitors to a website that convert into leads and customers. Conversion is when visitors to your website do what you want them to do. A conversion is not necessarily a purchase. It can be an email sign up, creation of an account or app download.
More than 50% of company respondents believe that conversion rate optimization is critical to their overall digital marketing strategy. Why is CRO important for you? Answer:
- It lowers customer acquisition cost by getting the most out of your existing website visitors
- It allows you to establish conversion metrics and measure the number of leads and sales your website generate
- CRO makes sense because your profit depends largely on conversion rate
- Optimize the conversion funnel that generates the greatest number of conversion
If the landing page of your site has a conversion rate of 5% and receives 1000 visitors a month, that means the page will generate 50 conversions. Now, if you improve the conversion rate to 10% , by enhancing various elements on the page, the number of conversions will rise to 100 per month. Let’s discuss some of the valuable areas that you need to focus on for CRO.
Customer Journey Analysis
It has become increasingly difficult to predict the customer behavior. However, being a businessman, you have to understand your customers and the process they like to go through before making a purchase. You need to identify and eliminate the pain points.
Gather all the information and data that might help you understand the customer journey. Having significant data will enable you to carry out customer journey analysis.
What is A/B or multivariate testing? In simple words, you set up two landing pages with different elements. Perhaps, one has a colorful CTA and the other has a less colorful CTA. And then your website displays one page with bright CTA to half of your online visitors and the other page with less colorful CTA to the other half of your online visitors. Now you can see whether or not a minor change to CTA can make a difference to CR. It’s true that a minor tweak can squeeze out conversions. You can test elements like page layout, copy, headings, and design. After a thorough testing, you can interpret results and select a winning combination.
Surveys and Feedbacks
If you want to know more about your website, ask visitors. All the information extracted from surveys can be used to enhance user experience. There are a number of techniques that you can use to collect survey responses.
Other Benefits of CRO
Conversion optimization not only increases conversion but also leads to a better user experience. Elimination of all the unnecessary barriers would result into a better customer journey. CRO does not mean that you have to manipulate your visitors into converting. Rather, it is about making your web visitors browse your site with great ease.
There have been plenty of studies which suggest that the contemporary generation of consumers have short attention span. For an online retailer, it means that if the average user is unable to find solutions quickly, they will move on to websites that readily provide solutions to their problems. The prime objective of conversion rate optimization is to grab visitor’s attention.