Reasons why every marketer should care about conversion rates
Conversion Rate Optimisation (CRO) is increasingly prioritised across digital marketing departments and agencies, simply because of its impact on a company’s bottom line. In fact, CRO could justifiably be regarded as the “magic bullet” of the modern online marketing world and has a similar stature to that of SEO just 10 years ago. Everyone is talking about it – and everybody wants to learn how to improve their rates. All of a sudden, every single agency out there boasts at least one CRO expert or specialist.
The main reason for CRO’s appeal is that even tiny improvements in conversion rates can mean whopping profits; if your techniques work, then the pay-off can be immediate. It helps to see the visitors who land on your home page as an investment. As your conversion rate increases, you'll achieve an improved ROI. Today’s advanced web analytics can detail how customers are interacting with your page and when they’re dropping off. In the end, it’s more cost effective to study ways of guiding these visitors through your funnel than to draw new people to your website.
Thankfully there’s plenty of useful instructional material out there – including webinars, ebooks, blog posts and YouTube walk-throughs. However, sometimes you need to pull yourself away from the daily grind, to learn from the experts and communicate directly with other online marketers in real life. The problem is that mastering this field requires you to be a polymath and develop skills in design, UX, analytics, copywriting, statistics, testing, psychology and persuasion and qualitative and quantitative research. It can take many years to become truly competent.
A big fallacy about CRO that persists today is the over-emphasis on testing ideas at random. DIYers like to experiment with contact forms or making a particular button on their landing page more prominent – but this approach can actually turn out to be a massive waste of time, money and traffic. In reality, the best optimisation work is data-driven. Testing should be carried on out a data-backed hypothesis that comes from both qualitative and quantitative research, in addition to heuristic analysis. Above all, CRO is a process. You need a methodology, or you’re doing it wrong.
To learn more about how Web Choice can help you with improving conversion rates, please get in touch today.