Online marketing goes beyond driving traffic to your website, it includes processes aimed at finding ways to improve the quality of that traffic and to convert it into loyal and long term customers. This is where Conversion Rate Optimisation (CRO) comes into play.
Conversion Rate Optimisation can be described as the process of increasing the proportion of conversions a website or mobile app generates in relation to the number of visitors it receives. A conversion occurs when a visitor to your website completes a desired goal, such as filling out a form or making a purchase. CRO also includes a series of processes involved in studying users behavior and assisting them in taking actions when they visit a website. This process requires data analysis, hypothesis generation as well as design and personalisation of certain elements of the website, which can allow a business to increase its chances of converting visitors into buyers before they leave the site.
It is a common misconception that CRO equals A/B testing. The reality is that testing (Multivariate and A/B tests) is only one aspect of conversion rate optimisation. The key to successful CRO is to analyse and use data to build strong data-driven hypothesis. Good hypothesis are formed and supported by data, while bad hypothesis have no support and are generally based on subjective opinions.
Let's take the example of an eCommerce website that has a conversion rate of 3% (segment of all users who visit the website). It means that, for every 100 visitors to the website, 3 will buy an item. What if there was a way to increase the conversion rate to 4, 5 or even 10% ? Conversion rate optimisation is the solution.
CRO can help that business increase sales without increasing its marketing and traffic acquisition costs.
As an online entrepreneur, you know that pay per click costs are rising everyday due to higher demand and competition which means that, overtime, your cost of acquisition per customer will increase. Each and every visitor to your website becomes very expensive to acquire. Therefore, it is critical to convert more visitors into customers or long term users.
For businesses that acquire Paid traffic, CRO can help you gain market shares. Once your conversion rate has increased, you’re more profitable. By investing some of that profit into increasing your advertising bid prices, you can outbid your competitors and profitably dominate the advertising space in your market.
We recommend to include conversion rate optimisation into your marketing budget. Doing so, it will help you maximize the impact of your marketing campaigns, generate more conversions and sales, and lower you customer acquisition cost. As soon as your website starts attracting visitors, it is important that you set up your CRO system to collect data about your website visitors behaviour, boost engagement and increase your chances of meeting your customer needs and your business goals.
This formula can be used to calculate the conversion rate of landing pages, websites, blog posts, ad clicks... The conversion rate should not be confused with the total number of visitors on a site. Your conversion rate is a percentage of the total number of people who convert on your website based on how many people visited it.
As far as conversion rates are concerned, there is always room for improvement, and the level of your success can be improved by engaging the services of the right data agency.
At 26data, we aim to provide your business with the best data-driven CRO services. We learn about your business and your goals, study deeply and analyse users behavior data and come up with strong data-driven hypothesis and experiments to run in order to improve the conversion rates of your website.
Our team of experts are excited and ready to offer you the best services.
Contact us if you have questions on CRO, want to learn more or need our help in boosting your conversion rates.
Conversion Rate Optimisation can be described as the process of increasing the proportion of conversions a website or mobile app generates in relation to the number of visitors it receives. A conversion occurs when a visitor to your website completes a desired goal, such as filling out a form or making a purchase. CRO also includes a series of processes involved in studying users behavior and assisting them in taking actions when they visit a website. This process requires data analysis, hypothesis generation as well as design and personalisation of certain elements of the website, which can allow a business to increase its chances of converting visitors into buyers before they leave the site.
It is a common misconception that CRO equals A/B testing. The reality is that testing (Multivariate and A/B tests) is only one aspect of conversion rate optimisation. The key to successful CRO is to analyse and use data to build strong data-driven hypothesis. Good hypothesis are formed and supported by data, while bad hypothesis have no support and are generally based on subjective opinions.
Why should I improve my conversion rates ?
Conversion rate optimisation can be the most straightforward driver of growth for your business as it gets you more customers for free.Let's take the example of an eCommerce website that has a conversion rate of 3% (segment of all users who visit the website). It means that, for every 100 visitors to the website, 3 will buy an item. What if there was a way to increase the conversion rate to 4, 5 or even 10% ? Conversion rate optimisation is the solution.
CRO can help that business increase sales without increasing its marketing and traffic acquisition costs.
As an online entrepreneur, you know that pay per click costs are rising everyday due to higher demand and competition which means that, overtime, your cost of acquisition per customer will increase. Each and every visitor to your website becomes very expensive to acquire. Therefore, it is critical to convert more visitors into customers or long term users.
For businesses that acquire Paid traffic, CRO can help you gain market shares. Once your conversion rate has increased, you’re more profitable. By investing some of that profit into increasing your advertising bid prices, you can outbid your competitors and profitably dominate the advertising space in your market.
When should I increase my conversion rate ?
Every business aims to achieve a better return on investment. While CRO is an integral part of business success in this digital era, most people do not know exactly when is the right time to start optimising their conversion rates.We recommend to include conversion rate optimisation into your marketing budget. Doing so, it will help you maximize the impact of your marketing campaigns, generate more conversions and sales, and lower you customer acquisition cost. As soon as your website starts attracting visitors, it is important that you set up your CRO system to collect data about your website visitors behaviour, boost engagement and increase your chances of meeting your customer needs and your business goals.
How can I calculate my conversion rate ?
This is how you can go about calculating your conversion rate :Conversion rate = (number of conversions generated by a website for a specific goal ÷ the total number of visitors on the website) x 100
This formula can be used to calculate the conversion rate of landing pages, websites, blog posts, ad clicks... The conversion rate should not be confused with the total number of visitors on a site. Your conversion rate is a percentage of the total number of people who convert on your website based on how many people visited it.
As far as conversion rates are concerned, there is always room for improvement, and the level of your success can be improved by engaging the services of the right data agency.
At 26data, we aim to provide your business with the best data-driven CRO services. We learn about your business and your goals, study deeply and analyse users behavior data and come up with strong data-driven hypothesis and experiments to run in order to improve the conversion rates of your website.
Our team of experts are excited and ready to offer you the best services.
Contact us if you have questions on CRO, want to learn more or need our help in boosting your conversion rates.