Conversion Rate Optimization (CRO) has been playing a significant role in increasing the conversion of a website from the time of web inception. Optimizing conversion is a tricky practice; you need to focus on different demographic factors, filter the target audience and understand the consumer behavior, to carry out an active optimization strategy. The game of CRO revolves around the effective usage of business resources while turning the focus towards the sales funnel.
A clear concept about Conversion Rate Optimization can be achieved by understanding the various facts related to CRO. This will not only enhance your awareness but will also help you boost website sales fast with Conversion Rate Optimization in 2017.
Truths about Conversion Rate Optimization (CRO)
Some amazing truths about CRO to persuade you to switch – 57% B2B marketers use conversion rate as the most valuable metric to analyse the landing pages. Only 22% businesses are pleased with their conversion rates! It is one of the smartest ways to formulate result-oriented strategies.
Importance of Conversion Rate Optimization (CRO)
Did you know that a 1-second delay in page response time can result in a 7% reduction in conversions? The impact is so high, that a slight alteration in the CRO process can bring a complete turnaround to your conversion rate. The main reason why CRO is important – 50% boost in conversion rate, can increase your business profit by 500%.
Growth with Conversion Rate Optimization (CRO)
A mind-blowing fact – 60% marketers now plan to analyse customer journey for improving their online conversion rate! An improved conversion rate propels businesses to use 50% more tests and 47% more methods to further improve conversion. Implement CRO practices to enjoy your business growth and optimize the conversion rate of your business.
Usage of Conversion Rate Optimization (CRO)
How should you use CRO to optimize the conversion rate? 83% of marketers test and optimize conversion rate for call to action, 77% for page layout and 56% for A/B testing.
These methods will also boost lead generation. You will be surprised to know that 62% marketers use CRO testing to increase traffic on landing pages and 70% marketers use CRO results to inform other marketing initiatives.
Results with Conversion Rate Optimization (CRO)
Result is the most important factor from the perspective of any business. If a test is done successfully, the conversion rate can increase by 49% and a successful A/B testing can boost the number of visitors up to 50%. It is obvious that marketers should evaluate these final outputs before creating a strategy.
Cost of Conversion Rate Optimization (CRO)
If you spend $92 to acquire customers then only $1 is spent to convert them! Surprising, isn’t it? Consistent following of CRO practices will definitely reduce the cost of customer acquisition. A study reveals that on an average, businesses, today, spend about $2,000 a month on CRO tools.
Rate on Investment (ROI) of Conversion Rate Optimization (CRO)
Are you aware that the automation increases the average conversion rate from 2.6% to 3.6%! If your business spends a four-digit dollar figure then you definitely would need to know the return on investment. The good news – the average ROI on CRO tools is 223%.
Barriers of Conversion Rate Optimization (CRO)
While you gradually progress towards planning, implementation and fulfilment of conversion rate optimization, you can face different barriers. It is necessary to overcome those obstacles to carry out your strategy successfully. But, it is sad that more than 20% businesses do not have an effective strategy for landing page testing.
82% marketing professionals still don’t know how to effectively test website for conversion rate optimization. You can avoid being one of the 45% businesses who lose their customers due to lack of responsive web design!
How to Improve Conversion Rate of a Website?
There is no ready rule book that you can follow while adopting CRO practices to improve your website ranking. There are several mistakes you are bound to make. Follow below mentioned points while designing your strategy.
Figure Out Where You are Going Wrong
It is essential to identify what you should do and what you shouldn’t. Search for those elements that are not working for your business and repeat the ones that are.
Find Out What You Need to do Right
Thorough research, detailed analysis and rigorous testing will help you to find the right path towards success.
Collect Industry Data
Gather relevant data of the related industry and accordingly strategize your CRO plan.
Understand Your Customers Requirement
Wrong targeting can adversely impact your CRO strategy. There should be a clear guideline of what your customers want and based on that analysis you should proceed further.
Design the Perfect Landing Page
A landing page is the most essential element of CRO, as it plays a vital role in attracting traffic and converting them to customers. A perfect landing page can capture a large chunk of the audience, whereas, a bad one can increase the bounce rate.
Perform Regular A/B Testing
The importance of a perfect landing page has enhanced the value of A/B testing. With this testing, you have ready access to understand customer behavior and how it changes the conversion rate.
Now, that you are aware of all facts related to Conversion Rate Optimization, building an effective CRO strategy in 2017 will be a more convenient task. These facts will not only act as a guideline for your next ad campaign but will also positively impact your interaction with your customers.