Why is Conversion Rate Optimization (CRO) important to you?
Most businesses often think that the ultimate goal is to get tons of traffic to their website. Nothing can be farther from the truth. That is one of the goals – but not the ultimate goal. The ultimate goal should be to have conversions on your website.
Imagine you are getting 10,000 visitors to your website and covert 100 visitors into leads or prospects or customers or whatever other metric you may have set as the conversion goal. That is 10% conversion rate. Now, if you get 20,000 visitors, you get 200 converts. However, it is not easy to double your traffic and you are dependent on external factors, over which you have little to no control, to achieve this.
But if you optimize your conversion on your website, you could quite easily increase your conversion rate from 10% to 20%. This means that with the same amount of traffic you now have doubled the leads, prospects or customers. And the best part is that this is an internal activity and with in your control.
Wikipedia defines CRO as follows:
In internet marketing, conversion optimization, or conversion rate optimization (CRO) is the method of creating an experience for a website or landing page visitor with the goal of increasing the percentage of visitors that convert into customers. It is also commonly referred to as CRO.
Conversion Rate Optimization is the process of increasing website leads and sales without spending money on attracting more visitors by reducing your visitor “bounce rate”. A conversion rate is defined as the percentage of visitors who complete a goal, as set by the site owner. Some test methods, such as split testing or A/B testing, enable one to monitor which headlines, images and content help one convert more visitors into customers.
There are several approaches to conversion optimization with two main schools of thought prevailing in the last few years. One school is more focused on testing as an approach to discover the best way to increase a website, a campaign or a landing page conversion rates. The other school is focused more on the pretesting stage of the optimization process. In this second approach, the optimization company will invest a considerable amount of time understanding the audience and then creating a targeted message that appeals to that particular audience. Only then would it be willing to deploy testing mechanisms to increase conversion rates.
At SpellBrand, we have over 10 years experience in CRO and we can help you increase your conversion rates on your website through strategic website and design elements which align with your business goals for your website. Talk to us today to find out how we can help!