Conversion Rate Optimization (CRO) - One Scarlett Digital Marketing
Understanding Conversion Rate Optimization (CRO)
Conversion rate optimization (CRO) is a process aimed at increasing the percentage of conversions from a website or mobile app. This typically involves generating ideas for elements on your site or app that can be improved and then validating those hypotheses through A/B testing and multivariate testing.
Why is Conversion Rate Optimization Important?
Conversion rate optimization is significant as it allows you to lower your customer acquisition costs by deriving more value from the visitors and users you already have. By optimizing your conversion rate, you can boost revenue per visitor, acquire more customers, and expand your business. Remember, 75% of users never scroll past the first page of Google results.
Impact of Conversion Rate Optimization
For instance, a landing page with a 10% conversion rate that receives 2000 visitors a month will generate 200 conversions per month. By optimizing various elements on the page and improving the conversion rate to 15%, the number of conversions can be increased by 50% to 300 per month.
Establishing Conversion Metrics
Conversion rate optimization begins by first identifying what the conversion goals are for any given web page or app screen. The success metrics of your website or mobile app will depend on the type of business you’re in, and what your goals are.
Identifying Areas to Optimize
Once conversion metrics have been identified, the next step is to determine which part of your conversion funnel you want to optimize. Typically, start with the portion of your conversion funnel that receives the most traffic or generates the most conversions, enabling faster results and a larger impact on your business.
Improving Underperforming Pages
For example, a clothing retailer may find that their page for hats receives a lot of traffic but has a conversion rate that is much lower than the rest of the site. By improving the conversion rate of that page, the retailer will be able to see a significant improvement in sales for their CRO efforts.
Successful Case Studies
Discover real-life examples of how companies such as Sony, Microsoft, Spreadshirt, and Smarter Travel have improved their websites and mobile apps using Conversion Rate Optimization.
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