How can your company benefit from CRO

What Is Conversion Rate Optimization (CRO)?

If you advertise online and want to increase your profits you either have to substantially increase the amount of visitors coming to your site, or you can get the most out of your visitors.

The main focus of Conversion Rate Optimization (CRO) is the latter. This involves analyzing your business conversion funnel – identify all the opportunities and uplevel the obstacles. In simple words, CRO is simply optimizing the user experience at every level.

How do you optimize your conversion rate?

Optimizing conversion rates involves three main factors:

• Analysis Your analytics solution is going to be your most useful tool. For example, Google Analytics can give you all the data required to study performance. You can identify the pain points and areas of opportunity, and develop ideas and solutions to optimize them.
• Usability One of the best ways to identify improvement opportunities is receiving feedback from users. Post a poll on your website or ask users in your newsletter. Find out what your users want and put that feedback to use.
• Testing Conducting A/B, multivariate experiments with your website will allow you to test new ideas and then use the analytics data to explore your findings.

Should You Be Using CRO?

It’s simple if you want to make more money online, you must do CRO. You’ll need the participation at each level of your company since it involves and commands a true understanding of your firm’s online marketing efforts. From c-level officers, managers, marketing dept, advertising experts, analysts, creative team, and your website developers should have a hand in the CRO process.

Every online business, Ecommerce, Software as Service (SAAS) companies, Non-Profits, B2B, News websites, Blogs, have to deal with the same challenges when it comes to online marketing: How to receive more visitors that will buy your services and/or products. They can all draw benefits from CRO – they all deal with the same challenges when it comes to online marketing: How to receive more visitors who will buy your service and products. No matter what your business is, the CRO process is nothing more than getting the best results from marketing via measurement, testing and customer feedback.

Take the Guesswork out of Marketing Decisions

There is no room for guesswork or hunches in this era of stiff competition and abundant data. This doesn’t mean that you should ignore your gut feelings when taking hard decisions, but adopting data-driven decision making model is better for achieving success online. CRO is all about data, nothing more.

You should be consistently and actively engaging with all your customers, analyzing performance of data, and frequently testing ways to up user’s experience. Use these factors and analyze why they must be a perpetual part of your online marketing strategy:

• Customer Engagement — In most cases usability surveys of your website from your visitors will give you direct feedback about their feelings. It’s good to get insights from data and testing, but it is important not to underestimate the simple power of directly asking your customers how you or your business can do better!
• Data Analysis — Data analysis tools are well-equipped these days to capture minute details. So, why not exploit these data to improvement to your website?
• Testing — There are now so many performing tests tools for testing every elements of your website. You can test its design, usability, functionality, etc. Remember, successful optimizations can make huge difference.

Bring Your Team Together with CRO

You’re team can be closer than ever because of the necessity for conversion rate optimization to work harmoniously across all departments. In this process, analytics teams work together with the marketing and sales teams to dissect the data findings. The marketing and advertising departments can analyze all the data that has been collected and then develop an action plan and team up with website designers and development team to implement the changes and new experiments. Then the CEO can take decisions on the tests results and so forth. This process involves constant engagement breaks down the issue of silo mentality (people that do not want to work together or share information and knowledge) among departments, which is great for your staff and your company’s growth.