Conversion rate optimization is important because it allows you to reduce customer acquisition costs by getting more value from the visitors and users you already have. By optimizing your conversion rate, you can increase revenue per visitor, acquire more customers, and grow your business. Similarly, you can offer personalized content to your visitors based on the industries they belong to or where they are in your conversion funnel. When running a split URL test for 19 days, they saw the alternative variation increase their conversion rate by more than 42%.
As a long-term process, CRO achieves sustainable, repeatable and consistent increases in conversion rates by researching, testing and analyzing visitor behavior on your website. Usability testing is a smart way to evaluate the ease of use of a website from a customer's point of view, their engagement rate on a particular page, stumbling points, and similar drops. Conversion rate is defined as the percentage of visitors who meet a goal, as set by the site owner. If you call the right person, they will make you 20% more money, in a matter of months, using conversion rate optimization techniques and ensuring a bright future for Walmart and making sure you can maintain your comfortable desk chair.
Generally speaking, the higher the conversion rate, the more effective the website's online marketing efforts will be. Studying customer data and psychology can help you accurately identify the real reasons why users do what they do on your site. Running a CRO campaign helps identify and address these bottleneck issues and contributes significantly to improving the site's conversion rate. Ultimately, the goal of increasing conversion rates is to reduce the cost of acquiring and caring for customers.
When you start thinking about conversion rate optimization, it's tempting to play with buttons, forms, and other low-level design elements that could make or break the sale. But, to fully understand it, we need to go back a bit and see what a conversion rate and, therefore, a conversion is. It's also important to arrive at a quantified expected conversion rate, as it gives direction to your testing efforts. Again, you better focus on developing a deep understanding of what really matters to your users, so you can give it to them, and then conversions will follow naturally.
This also means that your conversion rate would rise, fall, and even stagnate steadily at different times throughout the testing phase.