Young Upstarts

All about entrepreneurship, intrapreneurship, ideas, innovation, and small business.

Demystifying CRO: All You Wanted To Know About Conversion Rate Optimisation

When it comes to the aspect of conversion, what we need to do is to delve into some of its foundational concepts first. That includes illustrating its main role in what it does for your business. All in all, the conversion is considered when a marketing strategy finally results in a potential customer becoming a customer. In the entirety of this process, new customers are attracted through marketing, sales are carried out and customer service is offered for the sole purpose of retaining customers.

The beauty of the fact is that when the same template is applied to a website, the definition of conversion remains the same.

Breaking down the definition of a conversion.

Here’s the thing – it is extremely convenient and easy to think of conversions as merely websites sales, but that will limit your perception of the scenario in its totality. In fact, any accomplishment of a list of site goals can be considered conversions as well. Any website needs to have both primary and secondary site goals in order for the entire process to work effectively in a timely manner.

Before panicking and asking yourself what is conversion rate optimisation and website optimisation, bear in mind that the smallest aspects of customer engagement usually fall into the secondary site goals category, which in turn, eventually fuels the success of primary site goals in the long run. In this regard, one must not forget the vital aspect of tracking the secondary site goals to optimise primary site goals.

The importance of measurement.

Sure, no one out there ever said that conversions were not a good idea. However, the fact of the matter still remains that there is a vital question to be asked first – How does one know whether their website has enough conversions or not? This is precisely where the need for a metric to measure conversions comes from. To determine how successful your website is, analytics will take care of a host of things starting from the most visited pages to the number of visitors, and so on.

Whether your website has too many or too few conversions, the insights that come from studying conversion rates are predominantly goal-oriented and extremely detailed. Furthermore, they will make the process of finding the reasons why they are too many or too few, a lot easier in the long run. Hence, the problem-fixing aspect will also be taken care of smoothly in every way.

The CRO vocabulary list.

Here, we need to take a deeper dive into some of the most commonly used terms associated with CRO. They are:-

  • Conversion rate: This refers to the calculative applications of various marketing strategies, analysis, innovation and testing for the sole purpose of increasing the website’s conversion rate.
  • User flow: This is defined by the path taken by the user to complete a specific action. Another important point to remember is that this is not necessarily restricted to conversion events and can include adding items to a list or finding website support.
  • Conversion funnel: The path that a potential customer takes to become a full-fledged customer. With the depiction of an inverted pyramid, the top part is representative of the complete audience and the bottom part refers to the conversion event.

The ultimate benefits of CRO.

The most obvious benefit is that it will help you to understand your audience better as well as get you a wider range of newer customers. Here are some of the most subtle benefits of CRO:-

It encourages existing users to convert multiple times.

After all, the fact of the matter is that attracting new customers does end up being more expensive than making the necessary changes to optimise a website. Plus, this maximises ROI as well.

The identification of conversion blockers.

With CRO, there is literally zero guesswork with regard to the overall development and content decisions. You can be positive of that fact. With well-implemented CRO, one would be able to identify the difference between a drop-off and a conversion, helping you to find a solution faster.

Share

Young Upstarts is a business and technology blog that champions new ideas, innovation and entrepreneurship. It focuses on highlighting young people and small businesses, celebrating their vision and role in changing the world with their ideas, products and services.

Tagged as: , ,