Conversion Rate Optimization (CRO), in its simplest form, is finding ways to constantly improve the conversion rate on your website. It’s the method of using
According to Marketing Sherpa, conversion rates are the point at which a recipient of a marketing message performs a desired action. These desired actions could include completing a purchase, opening an email, clicking on a call-to-action, joining a newsletter list, and requesting a demo. Measuring the success of these ‘desired actions’ is accomplished by calculating a conversion rate, which divides the number of desired actions by the number of your site’s visitors. For example:
Lead Generation
Number of Leads Collected / Total Traffic to Site x 100 = Conversion Rate
Sales
Number of Sales / Number of Visitors x 100 = Conversion Rate
Top Benefits of Conversion Optimization
1. More user engagement
It improves your visitors’ on-site experience, resulting in higher engagement and revenue.
3. Increases customer Lifetime Value (LTV)
When users’ experience is improved, the direct benefit is increasing the chance that they’ll visit your website again, and will purchase additional products or services in the future.
4. Increases ad revenue
More engagement on your site leads to more ad impressions, and results in higher revenue from advertising.
5. Strengthens your business
Optimized conversions increase every aspect of your business, from brand awareness, to customer satisfaction and overall revenue.
Conversion Optimization is a process of constant measurement and continuous adjustment. In today’s aggressive eCommerce climate, many marketers have adopted testing and personalization software to improve conversion rates and ensure visitors receive an experience suited to their unique preferences.
Read further about developing a conversion rate optimization strategy.
