What is Conversion Rate Optimization (CRO)?
CRO or Conversion Rate Optimization is a systematic and structured approach to improving the performance of your website. The approach consists of a system used to increasing the number of website visitors that become customers. By using insights such as user feedback and analytics, CRO will keep you on track towards the conversion objectives of your website. Conversion Rate Optimization will use the traffic to analyze which type of visitors are most likely to convert. This will allow you to better serve these customers as well as improve your overall value offering. If you are attracting 500,000 people a day to your website, but not a single visitor becomes a customer, then the money spent on attracting the traffic is wasted. Rather than spending more on unwanted traffic, why not use CRO to help customers see the value your business brings, improving conversion rates.
CRO is about the quality engagement of visitors on your website. The goal is not to achieve the highest number of users possible, but rather to assist in helping visitors to decide to do business with you. The quality engagement is made through the analytics of your real-time traffic, not by hunches, guesses, or having the opinion of highly paid individuals drive the decisions.
Why is Conversion Rate Optimization Important?
Improvement, Improvement, Improvement
Making the process of conversion painless and easy to use continually, will improve the results of your business. You could have the best website in the business, but there are always ways to improve it for your customers.
Paying More and More For Paid Advertising
You must deal with the problems in your conversion funnel with Conversion Rate Optimization first. By working with what you have and not spending more on advertising, you can move forward with a better strategy and reduce costs.
More is Not Better. Quality is What Matters.
You want to attract individuals who adore the product or service you sell. Increasing traffic doesn’t improve your marketing efforts as these people will not do business nor help your outreach.
Low Costs and Reduced Customer Acquisition Costs
Conversion Rate Optimization uses the traffic that you currently have. You will be cutting your costs of new acquisition in half if you double your conversion rate. CRO improves the process of converting customers already visiting your website instead of attracting new ones. The point of optimization is to increase current investment return.
Increased Profits and Ability to Invest more in Customer Acquisition
You will maximize profits by not having to pay additionally to acquire new conversions. Your profit will go directly to the bottom line instead. With your additional profit, you can target new customers. Who, in turn, will be directed to a seamless conversion process that Conversion Rate Optimization has created.