Conversion Rate Optimization: Why Increasing CRO is Important for Your Company
The fundamental goal of Conversion Rate Optimization (CRO) is simple: To get more out of website visitors while doing more to get them to convert and, ultimately, generate sales. It is fundamentally agreed upon by marketing experts that an increase in qualified conversions greatly increases sales growth; that said, there are many methods and options to explore when looking to increase CRO, and understanding – and implementing – the ones that fit YOUR company or marketing agency is important.
To begin with, you may be asking, “Why should I even care about CRO?” There are a multitude of reasons it should be a priority for you as a modern business owner or marketing representative. First, there’s a good chance you (or your clients) are already paying to have traffic flow to your (or their) site via some method, so you probably understand that a high conversion rate equates to a better Return on Investment (ROI). For the sake of this article, let’s assume you are a representative of a digital marketing agency and the needs of your clients are of the highest priority – as such, converting a higher percentage of the visitors your clients already experience is far more cost-effective than attracting extra visitors. Additionally, Conversion Rate Optimization not only improves Return on Investment, it helps build a better defense against the limited attention spans of the average website user. What do we mean by this? With attention spans shrinking steadily, you’re giving clients’ visitors what they want before they grow tired of searching for it…and move on.
Let’s recap a bit. CRO is important because:
- Higher conversion rates mean better ROI
- It is more cost-effective than seeking out additional website visitors
- It protects against a steadily shrinking attention span of most website surfers
Since this article focuses on identifying the right CRO method for YOUR agency (or company), it is vital to point out that there is no benefit to acquiring customers that are the wrong fit for your clients. Your focus should be on obtaining more people who are actually interested in your clients’ products, and help them expand by spreading the word.
Why CRO is so Important…Even to Marketers
No matter how expertly-crafted your client’s site may be and regardless of the number of visitors being converted into buyers, there is always room for improvement. And because paid advertising is only getting more competitive and expensive, CRO works with what’s already in front of you to deal with conversion funnel problems. Additionally:
- CRO is About Getting More of the “Right” Kind of Customers – As we touched on above, you shouldn’t be focused on converting “just anyone” for your clients; your goal is to hunt down customers who will ultimately love the product.
- Optimization is Essentially Doing More with Less – As we also touched on, CRO capitalizes on traffic that already exists.
- Optimization Lowers Customer Acquisition Costs (CAC) – Doubling a conversion rate equates to halving how much each new customer costs you.
- CRO Means Higher Visitor Engagement which Creates Momentum – Ready to increase your clients’ market share? CRO builds powerful momentum that can do just that. And remember: The better a conversion rate, the more traffic that can be afforded and the more customers are attracted and…well, you get the picture.
If you feel like helping your clients dominate their respective markets before they know it, Conversion Rate Optimization is for you.