Before we get down to the benefits of conversion rate optimization, let’s start with some basics. Conversion rate is the number of users who have taken a particular action that you want them to on your page. This could be a purchase, filling up a registration form, or downloading an eBook. As for conversion rate optimization (abbreviated as CRO), it is a data-driven method with the goal of boosting the aforementioned number of users that convert. What you do is you divide the number of converted users by the number of people who you appealed to in order to take that particular action.
Why conversion rate optimization matters?
When it comes to growing your online business, there are two ways that you can do it. The first one is to simply bring more traffic to your site, hoping that your sales are going to boom. The other one is to boost your conversion rate and watch as the traffic that you already have turned into a solid customer base. The fact is that it is much more efficient, and also much more cost-effective, to constantly test your website and use the data that you get in order to boost conversions. CRO also means that you are going to cut down on the cost of gaining new users. This is bound to have a significant effect on your bottom line, and improve your ROI.
When your customers buy from you online, conversions occur at every step of their journey. A clickable product image leads to a conversion because it leads them down the path that ends up with purchasing the desired item. It’s up to you to make this process simple, smooth, and short, so that your sales process is faster, and a greater number of people want to go through it. Speaking of CRO, the idea is to basically constantly test, experiment, and properly tune every element of your website in order to get better results.
Eliminate the guesswork and get better results
In the days before there was CRO, people implemented changes to their websites based merely on what their gut tells them that could be the right solution. With CRO, there is no more guesswork. Instead of making random changes, you can do tests and evaluate the results that you get. So, if your users have a certain preference, you can always revert your website to that state. Basically, you’ve got the data that you need to make particular decisions.
So, thanks to the fact that now you’ve got the necessary data that you’ve gained from CRO testing at your disposal, you can make better decisions about how you want to change your website, and in the end, get much better results.
Outrank your competition
You should also know that, according to the advice from an SEO reseller, CRO can actually help with your SEO efforts. According to what you decide to test on your site, it is possible that you determine various areas that can boost the amount of time that users spend on your page. This, of course, leads to reduced bounce rates, which is something that Google deems very important. Furthermore, with the boost of your conversion rates, it is quite possible that your site traffic, social media presence, and general popularity grow too. And, as a result, your search engine ranking is going to rise.
Make more money down the line
What you will often hear is how CRO brings you much more money. While this is true, you shouldn’t expect this to happen in just a week or two after testing and implementing the changes. What is going to happen instead is that you are going to see a steady rise of revenue over time. CRO is generally a great asset when it comes to determining small areas that you can turn into opportunities, which will boost your conversions and in result, revenue, but in a period of a few months. So, basically, you do need to be patient and see how everything works out in the long run.
Learn more about your users
Among other things, using CRO for your website is the perfect way to get to know a lot more about your users. Remember the fact that there is no identical customer group. This means that all the testing and experimenting that you do matters because it helps you find out the preferences of a particular group. For example, through the process of CRO, you may come across the fact that your website visitors prefer immediate and direct contact over filling up long forms. It is through determining such details that you do better when it comes to website development, design, and marketing.
CRO equals secure testing
In the days before CRO was a thing, every time you wanted to make a change on your website, you would have to implement it, analyze the results, and then revert to the previous state if it wouldn’t work out. Today, all the A/B testing tools enable you to do secure tests, without making any permanent changes to your website, and you can present people with different versions while you’re still in the progress of trying new things out.
Conversion rate optimization may be somewhat of a new kid on the block, but it has proven that it can significantly benefit your business efforts. Due to being data-driven, it helps you eliminate guesswork, learn more about your visitors, and in the end, boosts your ROI and SEO efforts. Today, there is a wide variety of A/B testing tools at your disposal, so you should really consider implementing CRO into your business strategy.