Amir Zakaria Consulting Group | Conversion Rate Optimization (CRO)
Conversion Rate Optimization, CRO, website, Landing Page Optimization, optimizing, leads
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Conversion Rate Optimization (CRO)

Conversion Rate Optimization (CRO)

Conversion Rate Optimization (CRO) is the art and science of getting people to act once they arrive on your website,” says Tim Ash, CEO of SiteTuners, author of the book Landing Page Optimization: The Definitive Guide to Testing and Tuning for Conversions, and founder of the international Conversion Conference event series. “It typically involves elements of visual design, copywriting, user experience, psychology, testing out different versions of your website content, and the neuromarketing to influence people to act.” (Forbes.com)

Many websites are designed to convert website visitors into customers. These conversions occur all over the website — on the homepage, pricing page, blog, and landing pages — and all of these can be optimized for a higher number of conversions. The process of optimizing those conversions is exactly what CRO entails. CRO is a huge, often untapped opportunity for marketing teams, and you might be surprised by the oversized impact you could deliver by fine-tuning your website for conversions.

Once your sales and marketing engine attracts website visitors who consistently convert into leads for your sales team, you should start thinking about CRO. Below are three formulas to help you figure out how to tackle CRO at your company, and what goals to set:

  1. New revenue goal ÷ average sales price = # of new customers
  2. # of new customers ÷ lead to customer close rate % = lead goal
  3. Leads generated ÷ website traffic X100 = % conversion rate

To help you understand the impact CRO could have on your business, here’s an example of the formulas in action.

If your website has 10,000 visitors per month that generate 100 leads and subsequently, 10 customers each month, the website visitor to lead conversion rate would be 1%.

But what if you wanted to generate 20 customers each month? You could try to get 20,000 visitors to your website and hope that the quality of traffic doesn’t decrease. Or, you could get more leads from your existing traffic by optimizing your conversion rate.

If you increased the conversion rate from 1% to 2%, you’d double your leads and your customers.

The table below shows the impact of increasing your website’s conversion rate:

Company A Company B Company C
Monthly website traffic 10,000 10,000 10,000
% conversion rate 1% 2% 3%
Leads generated 100 200 300
# of new customers 10 20 30

The key point here? Trying to generate more website traffic isn’t necessarily the right approach. Think of it like a leaky bucket. Pouring more water into a leaky bucket won’t fix the root cause — you’ll just end up with a lot of waste. Conversion rate optimization is about getting more from what you have and making it work even better for you. (Hubspot.com)

You can download Conversion Rate Optimization 2017

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