Conversion Rate Optimization - Definition
Conversion Rate Optimization (CRO) is a process of analyzing the data, statistics and website insights to improve the performance. Simply stating, it is increasing the percentage of converted visitors on your website.
You need to figure out the potential in your website. Search for what users are looking for and how you can fulfill their need to the fullest.
Importance of Conversion Rate Optimization
There are many reasons why CRO should be your top priority. Some of them are explained here −
Free customers − It draws your customers free of cost. You don't need to spend so much on advertising like AdWords. Cost per click is rising with a steep rise in the cut-throat competition in every area. Marketing channels like AdWords sway away your budget quickly.
Winner take it all − To compete with your customer, you don’t need to strive hard.You only need to perform better than them. Conversion rate optimization lets you understand your brighter side.
Assist you financially − An increase in conversion rate adds up to 10% increment in profit and that too without any extra spending.
No scope of loss − Conversion rate optimization gives you no loss. You can try it without hassles.
Robust business − With CRO you can spend more on other marketing channels. This makes your business stand out. It helps you get ahead in competition.
Customers’ short attention span − With rising social media, the number of page views increase, but simultaneously the consumers have a short attention span that did not prevail earlier. Now when you have listed yourself, you need to differentiate to stand out. For this, you need thorough conversion rate optimization to make customers place attention on your product.
Customer ease − CRO helps you legitimize and streamline your business. It carves a clear path from the landing page to the buy button. A customer expects a purchase in a single click and easy access. It actually improves the layout of your marketing store or what-so-ever you are into. CRO reduces friction and customers’ anxiety.
Immediate results − It gives you immediate results unlike search engines. You can see a higher rate of conversion. It gets your ball rolling for a long term. The only thing required here is consistency.