Many businesses may have heard the term Conversion rate optimisation (CRO) but don’t quite know what CRO actually means or what CRO actually is.
Before going into what conversion rate is or how it works, firstly it is important to define what a conversion is.
What is a conversion?
A conversion is when a visitor performs an action you would like them to take. Some examples of this are:
- A visitor buying a product on your website.
- A visitor completing a contact form on your website.
- A recipient clicking a call to action in your email.
A conversion in essence is a simple task to perform for a user. The hard part is getting the visitor to actually complete the task and that is where conversion rate optimisation is important.
What is CRO?
Conversion rate optimisation is the process of understanding and testing website experiences and landing pages. The focus is to find the optimal design and messaging to produce higher conversions and generate more revenue.
To sum that up: conversion rate optimisation is the process of understanding why a visitor is not converting and fixing the problem. To break this down further:
Conversion rate optimisation is:
- A structured plan to improve your websites user journey.
- A plan that is created from data, especially analytics.
- The plan is defined by your websites aims and objectives.
- Improving the website for your existing traffic.
Conversion rate optimisation is not:
- Looking at a website and making a guess on what to do, or copying another websites process.
- Acquiring new traffic and not looking at your existing traffic.
- SEO, people can be confused between to the two terms.
High level benefits of CRO:
Conversion rate optimisation provides some really big benefits to a business, these are:
Increases revenue and maximise your profits
The main goal from undertaking conversion rate optimisation is that it increases revenue, improving the conversion rate means more of your existing customers are buying your products or completing a form, the knock on effect of this is that your optimising existing visitors and not paying to acquire these conversions so your bottom line increases.
Increase return on investment with your acquisition budget
Performing CRO means that you are increasing your conversion rate, when new visitors reach your website there are more likely to convert, so doubling your conversion rate will half your acquisition cost for each new customer.
Provide learning and insights about your customers
Conversion rate optimisation allows you to study and understand your customer’s behaviour and how they are using your website, this data is invaluable as it helps profile and build personas, help you improve your website experience and also help other marketing activities as you can apply this insight into your email marketing or social media campaigns.
Improve brand perception
You may think why will conversion rate optimisation affect my brand perception? Well statistics have shown on average 44% of online shoppers will tell their friends about a bad website experience so by improving your websites user experience this helps build trust and allows your customers to perform the actions you want them to take in an easier and more user friendly way.
Putting conversion rate optimisation into practice
Now we have broken down what conversion rate optimisation is and how it can help, we can look at examples of how CRO can be put into practice.
There are many areas you can optimise on a website but below is a just short list to give you a better understanding:
- Analysis of the customer journey.
- Analysis of purchasing of a product.
- Cart abandonment analysis.
- Optimisation of a webpage copy.
- Form analysis.
Start conversion rate optimisation today!
Conversion rate optimisation is a must for all business that run a website, whether you sell online or want to generate leads, being able to improve your user experience will help this process.