Conversion rate optimization (CRO) is the process of understanding the triggers and interactions on your website that lead customers to decide to convert. There are many different ways to measure conversions on a website. Depending on your industry, say you’re a SaaS company, you may monetize your site by asking visitors to fill out a lead form to gather their information for further business development. If you’re an eCommerce company, then your site exists to ask visitors to buy your products.
No one can afford to let 98% of their traffic go without converting, and showing tailored content to people who have engaged with your brand has proven to be the best way to get users to convert.
Regardless of what your company does or sells, conversion rate optimization (CRO) focuses on gathering qualitative data on visitors' interactions with your site before making a conversion and works to improve them to generate more conversions.
Related: How Can I Improve My Conversion Rates?
This can be thought of as studying the psychology of users to understand what information is essential to making a conversion, what information is improving the odds of a conversion, as well as what information is hurting it.
Not every customer will require the same information, and people have different ways of absorbing the same information. Depending on the length and complexity of your product and sales cycle, there are numerous ways to make the information accessible and easy to digest for all visitors. The less they have to think, the better. But, I’m getting ahead of myself.
We gather qualitative analysis on visitors through a variety of methods to gain a deep understanding of how users are interacting with your site.
Our approach to conversion rate science starts with simplicity. First, your site should be easy to use. Users should require zero extra thinking to complete their desired action. Next, we can start to deploy user testing and A/B multivariate tests. These tests confirm what is and isn't working. Now that we've identified our champions, we rinse and repeat. Last, we're helping you find a bigger bank account.
We use advanced technology, data, and algorithms to find your ideal leads. Then, turn those leads into repeatable revenue through conversion rate optimization.
We're a dedicated team of life-long learners who love to problem solve. We stay up-to-date with marketing AI, machine learning, and automation.
Our superpower and the continued success of our clients hinges on our ability to efficiently and effectively teach and guide our technology on what success is to your specific business. You have to know what success looks like, and we do. Since 2005.
Most companies may think that more advertising, or optimizing their advertising is the best way to increase their sales. To them, I say this, According to Forbes, Jeff Bezos invested 100x more into customer experience than advertising during the first year of Amazon. I find that statistic so powerful for a number of reasons, but mostly because I would be hard-pressed to find anyone in North America who is not only familiar with Amazon.com but also knows exactly how to navigate it and find exactly what they’re looking for. The other reason it’s incredible is because of what Amazon’s ROI probably is on that investment.
The following is a simple visualization explaining the theory behind why Conversion Rate Optimization is such a powerful tool for companies. It also illustrates how investing in the user experience before advertising can put a company in a superior strategic position.
Graph 1 shows two companies in the same industry with the exact same financials. The blue bar will focus on increasing traffic by increasing ad spend, the green bar will focus on improving conversion rates.
As you can see, the financial impact of just doubling your conversion rate is considerable. Not only does it accomplish the same revenue goal that doubling your ad spend accomplishes, but it also increases your profit margin, and makes your digital advertising spend more efficient.
This is a simplified representation of the benefits of CRO, and represents the theory behind why it is so valuable. This IS NOT meant to represent a real-life scenario
There are a number of ways to improve your conversion rates, but conversion rate optimization in its simplest form is understanding exactly what your audience and visitors are looking for and providing it. There are a number of boxes to check along the way, and I haven’t done CRO justice by summarizing it in one sentence. If you want to learn more about how to boost your conversion rates, check out this article.
Conversion Rate Optimization as it applies to eCommerce is the process of getting more visitors to your website to buy something. For example, if you sell stuffed animals on your website, and 2 out of every 100 visitors make a purchase. Then, your conversion rate is 2%. Simple. CRO aims to lift that number to something that would be considered STRONG for the industry that you are in, say 4 to 5 out of every 100 website visitors.
CRO is vitally important, regardless of your business model, because you’re getting the most out of a precious asset (i.e. your website). The goal is to make your most publicly accessible asset part of your marketing funnel and turn it into an efficient lead generation and sales tool. If people are visiting your website and leaving without filling out a form, placing a call, or buying something, then you have a problem with your CRO (conversion rate optimization) that you need to address immediately.
CRO tools typically include but are not limited to the list below. For more details about each item visit our Website Optimization page.
Not technically, however, CRO is extremely valuable for SEO. CRO aims to improve the usability of your website and create a positive user experience. Google takes into account what people do when they get to your site. Improving your interaction rate, time on site, pages visited, links clicked, bounce rate, etc. are all benefits of CRO and positively impact SEO.
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