Have you ever wondered what Conversion Rate Optimization (CRO) is? How does the concept of CRO affect your website and your brand? Is it important to pay attention to CRO? Hiring a company that will perform a professional Conversion Rate Optimization analysis of your website is very likely to be costly.
Can you justify it in terms of the return on your investment? After all, you have a business to run and your business’s core function is to return a profit, or at the very least, show a return on your investment. The good news is that all of these are valid questions and deserve a well-researched answer.
First up, let’s look at what CRO is and then we will look at how to apply it to your website via a case study.
What is CRO?
CRO or Conversion Rate Optimization is the method or process of using research, analytics and user feedback to improve the performance of your website. CRO can be used to improve any Key Performance Indicator (KPI) on your website that is important to your brand and by extension, your business.
Key Performance Indicators consist of measurables such as new customer acquisitions, increasing the number of people signing up to receive your newsletter, and increased sales amongst others.
In a nutshell, these elements are all part of the process of turning visitors to your website into returning customers. The aim of Conversion Rate Optimization is to work out what visitors to your website are looking for and then giving it to them.
It goes without saying that a good conversion rate is crucial for increased sales; with sales being the backbone of any business.
Why should you care about CRO?
There are few reasons why you should care about CRO:
You are in the business to make money. You are paying for people to visit your website. It makes sound financial sense to increase the return on investment (ROI) on your costs.
Statistics show that it is more cost effective to convert a higher percentage of your existing visitors to your website into paying customers rather attract more visitors.
CRO helps you optimize your website so that visitors to your site do not get bored and leave before they have purchased goods from your site.
Probably the most important goal of CRO is to keep on optimizing your site and business processes which will help you find more customers who will love your product and help you grow your brand by spreading the word that you have a great product and brand.
A Case Study…
For the purposes of this article let us assume that I am the owner of an eCommerce website which sells chocolates online. I have noticed that my sales figures do not look good at all. I need to take immediate and drastic action; otherwise, I am going have to shut down my business. In theory, I need two things to happen:
I need people who are searching the Internet for the best place to purchase chocolates online, to understand that my website has the best chocolates on the market for sale.
More importantly, I need them to purchase chocolates from my website.
I have noticed that my website has a high number of visitors, but no one is purchasing my chocolates. Why not? What am I doing wrong? How do I improve it?
This is where CRO comes into play. CRO both checks why visitors are not converted into customers and then it makes recommendations how to improve my conversion rate of website visitors to customers.
First, I need to find out why visitors are not becoming customers, and then, I need to implement the CRO recommendations. In my opinion, it is worth involving a group of CRO specialists in this process, as they know instinctively what to look for and how to implement the changes to improve the Conversion rate of my website.
The best way to find out why my site’s visitors aren’t converting into customers is to become a customer myself. In other words, I need to go through the process of browsing my site and deciding whether to purchase my goods or not. I need to make detailed notes of my impressions, actions, and resulting decisions. These notes will help determine some of the reasons behind the low conversion rate on my website.
The next step in the analysis process is to set up and update my Google Analytics profile. The information gathered from the Google Analytics analysis, together with your own research, will help me make intelligent and accurate marketing decisions to improve my website.
The theory is that the conversion rate of visitors to customers plays a crucial role in the success of any business website. A business website won’t succeed unless effective conversion rate optimization is implemented.
Apply the Solutions and Test Them
Once I think I have enough data, I need to brainstorm for possible solutions and test them myself. It is crucial to test each solution to ensure that they really are helping the visitors and not worsening the situation instead.
Again, in simple terms, I need to make changes to my website to make it easier and more attractive for people to buy my chocolates. I need to show online shoppers that the best chocolates in the world are my chocolates.
The key to a successful Conversion Rate Optimization is to my site simple but marketable. I cannot do this if the visitors are having a hard time on my site.
Review the Solutions and Repeat the Process
When I have applied the recommended solutions, I need to monitor and review them regularly. Are they generating positive results in the short to medium term?
Great, it means that the solutions are successful. What about the longer term? Do I need to make changes to my website again?
It is important to note that this is a continuous process. I need to keep repeating this whole process to ensure the constant high conversion rate of my website.
Mike is a Digital Marketing professional and currently working as a PR manager at #TruConversion.com He truly loves Online marketing and anything digital. He is very focused about who he works for. Once he starts work, he is fully committed to his duties and responsibilities at that company.