What Is CRO or Conversion Rate Optimization?

What Is CRO or Conversion Rate Optimisation?

What Is CRO or Conversion Rate Optimisation?


The fundamental rule of the marketing world is to find ways of smart work rather than hard work. Conversion Rate Optimisation or CRO is one such smart way to increase the percentage of the probability of the visitors of your page entering the conversion funnel. The more you can drive traffic to your website and convert them into leads for potential conversions, the more your business will grow. 

Conversion rate optimisation is an ever-evolving process in which marketers need to explore new ways to grow their business while keeping in with the customer needs and purchasing trends. A good CRO campaign aims to save you high on money, time, and effort. In this blog, we will try to guide you through the process of how you can go about these strategies in your business and what their significance .

Definition of Conversion

Every website is created to achieve some goal for the betterment of your business. In simplest terms, a conversion is completed when a visitor of your site completes some of your website’s purposes or goals. The goals can be diverse for different websites, depending upon the nature of your business. But in a broader sense, there are two types of intents. One is the primary goal or the macro-conversions, and the other is the smaller secondary goals, known as the micro conversions. 

Macro Conversions (Primary)

  • Adding subscription for a service
  • On-site purchase of a product 
  • Customer request for a quote

Micro Conversions (Secondary)

  • Sign-ups for email-listing
  • Creating new accounts
  • Moving products to the cart

Now, What Is the Conversion Rate?

The conversion rate of any site is the percentage of users who complete a desired goal or a conversion in respect of the total traffic on the page. It is different from the conversion rate for SEO purposes or the paid ads purpose. Those conversions are more driven by factors like how many clicks your page is getting from the visitors, which are the most effective keywords for driving traffic etc. 

CRO enhances the overall quality of your website and its contents as well to boost your conversions. This optimizing process can result in boosting the number of your qualified leads, achieving a greater value of your existing leads, lowering acquisition costs, increasing revenue, and so much more for the growth of your company.

Process of Calculating CRO?

You can understand the position of your business at any point in time concerning the conversion rate of your site by calculating the CRO. There are the three most common methods of evaluating the position of your business to understand the needs in a better way and improve the user experience of your site and acquire better conversion rates.

  • Method 1: Calculation of The Conversion Rate

“Leads Generated ÷ Website Traffic x 100 = Conversion Rate %.”

  • Method 2: Calculation of The Net New Customers

“New Revenue Goal ÷ Average Sales Price = Number of New Customers.”

  • Method 3: Calculation of The Lead Goal

“Number of New Customers ÷ Lead-to-Customer Close Rate % = Lead Goal.”

How Can CRO Benefit Your Website?

The conversion rate optimisation process mainly focuses on different aspects of your website and how things can be changed or improved for more customer conversions. So, there are four dominant areas of your website which can be profited most from the CRO.

1. Homepage

Homepages are the best place that can be benefited by CRO. Improving the design, usability of the homepages of any website not only helps in attracting new visitors to your site but also increases the opportunity to guide them towards the next steps for potential conversion. 

You can improve the user experience by putting some useful product links and information, introduce an automated chatbot for effective communication with the visitors and answer their queries, or offer a free web sign-up button.  

2. Pricing Page

The pricing page of any website is crucial for finalizing any deal. You can modify the price-break details on this page with the differences between the various products within the different price ranges. It will give the visitors a better understanding of the product and tally the market price at their convenience. In addition to that, you can also add your business number or website details for further queries or price quotes from the visitors.

3. Blog

Many companies are introducing blogs on many different topics containing various information about the industry and products on their websites these days. Besides providing helpful and thoughtful content, the CRO technique using blogs can benefit in converting the readers into consistent leads.

As a marketer, you can include calls-to-action in the articles or offer the readers to acquire more details about any given topic by providing their email ID.

4. Landing Page

These are the final stages where you want to direct your visitors for the last step of taking any action. You can design and add features on your landing page depending on what industry you are in and what resources you want to share with your visitors to seal the final deal from their side. The more intelligently and aesthetically your landing page is designed, the more it will become able to pull the conversions. 

Conclusion

CRO is an utmost crucial process for improving the performance of any website. However, it involves a series of complex procedures to come together for an effective CRO strategy. It helps marketers to understand the pulse of their customers and learn important data about their business as well as the industry for securing a bright future for their company.


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