What is Conversion Rate Optimisation and does my business need it?
by Sam Dunning
Conversion Rate Optimisation is taking the web by storm and it is now very crucial for many businesses to ensure sales targets are consistently achieved!
Let me start off with a little introduction into what Conversion Rate Optimisation (CRO) actually is,
When we refer to conversions, we are talking about a person on your website taking a specific action that you would like them to take.
But what kind of action could it be? The conversion could be any of the following actions: Signing-up to a whitepaper or newsletter with a name and email address (or via linkedin), making a purchase, downloading an App, requesting a quote or call back or requesting another niche service your business provides!
Whatever action your business would like your visitors to do, this is what needs to be measured and then optimised!
According to Econsultancy there are eight valuable areas that companies need to concentrate on for conversion rate optimisation:
- A/B and multivariate testing
- Having a structured approach
- Customer journey analysis
- Copy optimisation
- Online surveys/customer feedback
- Cart abandonment analysis
- Using a complementary selection of the above
Now that the basics are out of the way let’s take a look at the 10 key reasons why your business needs Conversion Rate Optimisation:
1/ Your website design can always be improved
Even if you did assign a World Class Web Development Company to build your website in the last few years, it is highly likely that the conversion process could be improved and made easier, to provide a better user experience and painless journey for website visitors – meaning better results for your business.
2/ Gain the kind of customers you are after
As a business, you naturally want to convert users that are genuinely interested in your products/services, meaning they are much more likely to be a loyal customer and recommend you to people within their network.
3/ Paid advertisement is becoming very competitive and expensive
Investing more and more money into your Pay Per Click campaigns is not the way forwards unless your website is a Phenomenal Converting Machine! Conversion Rate Optimisation (CRO) works with what you currently have, to help you address existing issues and start seeing serious results!
4/ Reduces your Customer Acquisition Costs (CAC)
Doubling your conversion rate means you are reducing your cost-per-acquisition by half (CPA), cutting down new customer cost by 50%.
5/ It’s far less expensive
CRO takes full advantage of traffic that you already have coming in. This means you don’t need to pump money into paid advertisement campaigns, you simply need to do a better job of converting users once they get to your site. Conversion Rate Optimisation will increase the return from your current marketing spends and ensure a higher percentage of your current visitors convert!
6/ Increase your profits
Profit is linked very closely with conversion rates, this is because you are not paying more for each individual conversion, profit is there for the taking as soon as your website has been Conversion Rate Optimised.
7/ Provides you with more money to spend on other marketing efforts
Based upon the research carried out into conversion funnels, your business can then use profits generated for effective marketing strategies to gain and convert even more visitors!
8/ Makes best use of our limited attention span
According to Time 55% of visitors spend fewer than 15 seconds on a website. This means you need to provide users with exactly what they are looking for as quickly as possible, whilst providing them with an enjoyable experience – meaning they go with you rather than a competitor.
9/ Less clutter more focus
Whilst you have a Web Development Company tweaking your website, you will discover that you will steadily start getting rid of unnecessary features/elements from various pages. Your website will be more focussed on providing the customer with a clear journey to gain what they are looking for, rather than bombarding them with useless information.
10/ The winner takes it all
This concept is based upon the “slight edge” phenomenon. This means that each process and feature on your website is slightly better, faster or easier to use that your competitors – Meaning a prospective customer is much more likely to choose you!
To summarise, Conversion Rate Optimisation is a fantastic way to ensure that a much higher percentage of visitors that come to your website are converting and increasing profits for your business, thus maximising your marketing efforts.
At Web Choice UK, we provide results for our clients via: Conversion Rate Optimisation, Web Development, App Development, SEO and Online Marketing Strategy.
Are you interested in the benefits of Conversion Rate Optimisation? Contact us today and we will be pleased to offer a free, no obligation consultation.
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May many future conversions be yours!