If your organisation relies on digital marketing, the importance of conversion rate optimisation cannot be stressed enough. It is one of the key determinants of performance in the digital arena. In a survey, 59% of company respondents said that CRO is significant for their digital marketing strategy, whereas 89% said that it is somewhat important for digital marketing.
However, it is important to mention here that conversion rate optimisation is not set and forget a thing. It requires continuous effort and improvements to achieve it. One needs to plan out the conversion rate optimisation strategy very diligently and carefully. For that, you first need to understand what conversion rate optimisation actually is and why is it so important for your digital marketing strategy to be effective.
What Is Conversion Rate Optimisation?
To put it simply, conversion rate optimisation (CRO) is a process of designing the website in such a way that your conversion rate rises. Rising of conversion rates basically means that more and more of your website visitors indulge in the action that you want them to do after visiting your website. For instance, you own an e-commerce site. Your first goal is to get as many visitors as possible. However, your eventual goal is to convert as many of those visitors as possible into your customers. That is where CRO comes into play. This process is gaining popularity because it helps you in raising profits without further increasing expenditure.
Conversion rate optimisation (CRO) mainly relies on digging deep into the customers’ psyche, and finding out makes them indulge in a purchase. Once that has been found out, you can then make use of that information to boost your conversion rates. There are several sales and marketing tactics to do so. However, which one you should choose for your business solely depends on what you think is hindering the optimisation of conversion rates of your site.
Now, you must be wondering if that even works or not? That answer is, it does work. In fact, it works exceptionally well. The Weather Channel was able to increase its conversions by 225%, just by simplifying the homepage. The Olympic Store’s conversions skyrocketed by 7.74% when its site navigation was improved. These are only a few examples. There are way too many success stories of CRO to mention here.
Why Is CRO Important For A Business?
If you haven’t realized the importance of CRO yet, you have not been able to unlock the true potential of your website. Ensuring that your website is valuable for your target audience will help you in generating leads. Isn’t that exactly what a business needs?
We have listed below 5 reasons that make CRO important for a business:
CRO helps you in getting to know your audience better.
A digital marketer needs to understand well what makes the customers visit the website and indulge in a purchase. Being in this field, you should have complete information about your customers’ demographics. This is where conversion rate optimisation comes into play. It helps you in developing an even more thorough understanding of your customer base, leads, as well as prospects. CRO tools such as heatmaps and user session recordings facilitate this process by letting you observe your customers’ behaviour and activities on the site.
CRO helps in boosting sales.
CRO and sales are directly proportional. When CRO boosts, sales also go up. CRO also improves the efficiency of the site by reducing the time it takes for a lead to convert into a purchase. Additionally, when you get to know the factors that are hampering your visitors to convert into your customers, you can address those factors by making your website user-friendly. Once you have addressed those issues, you can check if doing so has made a difference or not by checking if you are getting more sales from the same number of visitors or not. Eventually, you would be able to increase your sales and improve your return on investment.
CRO helps in attracting the customers of the competitors.
This is a benefit of CRO that people do not usually talk about. Irrespective of the industry, dealing with competitors remains a challenge for small as well as big businesses. You can deal with this cut-throat competition by making use of conversion rate optimisation. CRO helps you in making your site as appealing as possible. Hence, your site becomes the first choice of visitors. This way you can dodge your competitors smartly.
CRO helps in reducing the cost per lead.
What do you think is the biggest woe of a business that relies on paid advertising? The answer is straightforward yet depressing: clicks that do not convert into the desired action. They cost you money yet do not produce any revenue for you. Hence, they are a sign of a loss. CRO can help you avoid this loss. It does so by ensuring that more and more visitors convert by subscribing, purchasing, or indulging in any other desired action. This helps in lowering incurred cost and therefore boosts the revenue.
CRO gives your website an SEO boost.
Conversion rate optimisation helps you in ensuring that your website is as valuable to visitors as possible. Google and other search engines reward such sites by giving them more visibility and space on the search engine results page (SERP). When the visibility of a website increases, it helps in generating more leads. Eventually, it results in more customers and a higher return on investment.
In a nutshell, merely creating a website and getting visitors is not enough. In order to make your presence in the digital world meaningful and effective, it is essential to work on conversion rate optimisation (CRO). It will help you in ensuring that your visitors are not only visiting but also converting by indulging in the desired action. Consequently, your sales will boost, your cost will reduce, and your SEO ranking will improve.
If your business relies on digital marketing, but you haven’t focused on conversion rate optimisation yet, contact our web design experts to discuss your requirements.