Conversion Rate Optimization, otherwise known as CRO, is an online marketing strategy that is used to enhance the rate of conversion of traffic on the site of an advertiser. The objective of CRO is to increase the number of conversions from visits to the advertiser's website to visits to a sales page of the advertiser. In simpler terms, CRO is all about conversion optimization. To know more about CRO and its impact on your business, read the following discussion:
Business owners have a common misconception that, by bringing people through conversion funnel, they will be bringing people in-house. This may not be true. After all, conversion rate optimization brings people in-house. However, most businesses today make use of a combination of both internal and external resources to bring people in-house. Conversion rate optimization brings people in-house by increasing the number of people who first come to the company through conversion funnel - that is, people who visit the company's website via SEO or search engine advertising, and subsequently take action on the offer being presented to them.
So how do you optimize your website for bringing people in-house? You need to use conversion rate optimization. Let's see what that means.
Conversion is a two-step process; you either generate a lead, or you convert someone into a lead. For this reason, it is crucial to measure the conversion rate of each channel - the number of visitors, i.e., your existing customers, who come in after clicking on a link to your site. Measurement is essential to understand conversion rate optimization best practices. For example, you can determine which links on your website are generating the most conversions.
Conversion tracking is usually done using conversion rate optimization best practices. Conversion tracking measures conversion goals for all of your website visitors - old and new. These goals are set by measuring the number of unique visitors to your site as well as the total number of page views over time. By tracking these goals, you will be able to fine tune your website, and in turn, improve conversions. Also, you'll be able to see where some of your traffic problems are coming from, and how you can improve those areas.
The conversion rate optimization processes start at the top of your organization. You need to work with your people so that every decision affecting your organization reflects your overall objectives. A good place to start the process is when you decide what your conversion metrics are going to be. You may want to consider an objective-based approach for determining your conversion goals. In this way, your people will know what to focus on and what to avoid in order to have the greatest impact on your bottom line.
Once you have your conversion rate optimization goals defined, you need to determine which methods will be most effective for your business. Your conversion metrics will help you decide which advertising methods to implement, which content to focus on, and which types of messages to use. You may also want to use your conversion funnel to help you decide what your conversion rates should look like on a daily basis. Once you have your conversion metrics in place, you can set goals for your visitors as well as the number of pages they should see before they leave your site.
Lastly, you must track your progress. Each week, assess which methods are working and which are not. If you notice that one method isn't generating as many conversions as you hoped, adjust it so that it is. Once you understand what needs to be changed in order to optimize your conversion rates, you will be well on your way to increasing your overall profits.