Conversion Rate Optimisation CRO
ALL YOU NEED TO KNOW ABOUT CONVERSION RATE OPTIMISATION AND ITS BENEFITS
Here is what CRO stands for
You’ve probably heard of SEO, CTA and CRM. Nevertheless, it is possible that a small three-letter acronym escaped your attention: the CRO.
Conversion Rate Optimisation (CRO) is a sub-discipline of online marketing.
This is one of the many performance indicators (KPIs for Key Performance Indicators) that measure the success of an online marketing activity. The following measures are intended to increase the number of conversions, and thus optimise the conversion rate at the same time.
Conversions consist of a variety of actions…
The conversion rate is the percentage of users who perform the action we want on a website. While it usually refers to those who make a purchase, this is not always the case.
A conversion can also be to register on a website, subscribe to a blog or a newsletter, download a document or fill out a contact form. The conversion rate is, therefore, the result of dividing the number of users who perform an action we want, among the total number of users who visit the website.
Differences between macro and micro conversions
The macro conversions are related to the process in which are achieved primary goals, such as making an online purchase. In as much, the micro conversions consist of the actions that are within the primary objectives, but that respond to secondary actions, like subscribing to a newsletter to obtain a coupon of discount.
That is, micro conversions are small stages that make up a macro conversion; for this reason, it is fundamental to measure micro conversions, since they allow us to know and identify the behaviour of users at the moment prior to fulfilling our objectives.
Conversion rate is an important metric
The conversion rate is a digital report of visitors who purchased a product from out of all the visitors to the website. The conversion rate of a website most often refers to the ratio (buyers/visitors) * 100 giving the percentage of visitors making a purchase during the visit of a site or after a certain period of time after the visit.
Conversions occur at various places on your site: on the homepage, rates page, your blog, and of course, landing pages. You can really optimise all these conversions which will be different than SEO or SEM optimisation.
A Short List of What CRO Offers You
In an ever more competitive environment, attracting visitors (via AdWords, SEO, etc.) costs more and more, optimising the conversion rate and profitability of your website becomes an absolute necessity.
Better Customer Insights
Conversion Rate Optimisation will help you identify the optimal audience for your products/services and find out the best way to communicate with them.
Conversion Rate Optimisation will get you the quality traffic – more visitors don’t mean much if they aren’t the right people!
Maximise Your ROI
If you make more sales with the same number of visitors and do not spend more on advertising, your acquisition costs go down – better ROI. Conversion Rate Optimisation will help you through the process of maximising your ROI.
Expanding Your Business
You don’t necessarily need a bigger audience to scale up your business – CRO allows your business to grow without more resources and customers.
CRO will simply turn more visitors into buyers and your business will grow while having the same sized audience as before.
Improved User Experience
Coming from a mix of ergonomics and human sciences, the user experience aims to provide the most appropriate approach to a target audience based on any offer (products, services, businesses, etc.).
The more the approach is adapted, the more satisfaction there is with this offer. CRO will identify what works the best on your website and expand on it to please the users even more. This will result in the users engaging more with your website and become actual buyers.
Formation of Trust
Trust is an important point for your website.
In general, if you want to sell a product or service to others, you must look trustworthy, it is essential. When a customer comes to an e-commerce site, they have an interface that is not human. When we have an e-commerce site, we have problems with the level of trust that we are not going to have with a physical business. This detail is taken into account by conversion rate optimisation – your website needs to be professional and ready to communicate with your customers.
Analytics and Split Testing
Data is at the heart of conversion rate optimisation (CRO). Site owners should know how well a page works to achieve a conversion rate, and how any changes increase or decrease its effectiveness.
Some strategies, as a rule, increase the conversion rate, but whether or not they work on a particular site depends on its audience. Continuous split testing of changes is of decisive importance in this case.
Split testing, also known as A / B or multivariate testing, allows you to demonstrate different versions of the pages (usually the original and a number of modified alternatives) to different users and check which options recruit the highest conversion percentage.
The page with the best results is the same., and then continue to test it already and its modified version. This is a gradual process of improvement, carried out step by step – so the developer understands what changes are affected. This and more information coming from the analytics will help you have a sound strategy for your CRO.
Do not attempt CRO based on your “gut feeling”
- Relying on guesses and gut feelings
- Copying the methods of your competitor
- Making decisions based on the person’s opinion who is getting paid the most
All of these are similar in nature because they are not backed up by data. In a time of data and numbers, these are senseless attempts at success.
Your business will be better off if you spare the time and do a
thorough analytical research which your CRO will be based on.