The term Conversion Rate Optimization (CRO) has been taking the web by a storm and has become really important for the businesses to ensure that sales targets are achieved constantly.
Let’s start with a little introduction to what basically Conversion Rate Optimization is:
When talking about conversions, we talk about the people on your website taking specific actions that you would like them to take.
But what kind of actions would they be? The conversion could be any action like:
- Signing up to whitepapers or newsletter with name and email addresses
- Making purchases
- Downloading the application
- Requesting quotes or call back or any other niche service your business provides.
Whatever action your business takes, this is what needs to be measured and optimized.
As per stats, there are eight valuable areas that companies need to concentrate on for conversion rate optimization:
- Having a structured approach
- A/B and multivariate testing
- Copy optimization
- Customer journey analysis
- Cart abandonment analysis
- Online surveys/customer feedback
- Using a complementary selection of the above
Now that the basics are clear, let’s take a look on the key reasons to why your business needs Conversion Rate Optimization:
Your website design can always be improved
Even if you hire the best web development company to build your website in the last few years, it is really probable that the conversion process can be improved and made easier to provide a better user experience and painless journey for the website visitors, which means better results for your business.
Gain the kind of customers you are after
As a business, you obviously would want to convert users that are sincerely interested in your products and services, which mean that they are much more likely to be a loyal customer and recommend you to people in their network.
Paid advertisement is becoming very competitive and expensive
Capitalizing more and more money in Pay per Click campaigns is not the progressing way unless your website is an extraordinary converting machine. Conversion Rate Optimization (CRO) works with what you presently have to help you address the existing issues and start witnessing serious results.
Reduces your Customer Acquisition Costs (CAC)
Doubling your conversion rate means that you are reducing your cost per acquisition by half, cutting down the new customer cost by 50%.
It’s far less expensive
CRO takes full advantage of traffic that you already have flowing in. this means that you don’t need to pump money into paid campaigns, you simply need to do a better job of converting users once they get to your website. To increase the return from your current marketing spends and ensure a higher percentage of your current visitors’ conversions, one should always hire professional Digital Marketing consultants.
Increase your profits
Profit is linked very closely with conversion rates, this is because you are not paying more for each individual conversion, and profit is there for the taking as soon as your website has been Conversion Rate Optimized.
Provides more money to spend on other marketing efforts
Based on the research carried out in the conversion funnels, your business can then use profits created for effectual marketing strategies to increase (and convert) more visitors!
Less clutter more focus
Though you have a Web Development Company for amending your website, you will discover that you will gradually getting rid of unnecessary elements/features from various pages. Your website will be more engrossed on providing the customer with a clear journey to gain what they are looking for, instead of attacking them with unusable information.
The winner takes it all
This theory is based upon the ‘slight edge’ phenomenon. This means that each procedure and feature on your website is somewhat easier, better, and faster to use than your competitors.
To wrap up, Conversion Rate Optimization is an eccentric way to ensure that a much greater percentage of visitors that come to your website are altering and cumulative profits for your business, maximizing your marketing efforts accordingly.