Conversion rate optimization (CRO) is a process that has been around for centuries, but it wasn't until the early 20th century that it was first recorded. This was when statistician R. A Fisher was hired by an agricultural research center to determine the effects of external factors on plant and crop growth. Since then, CRO has become an essential part of marketing, with experts like Talia and Oli Gardner offering their advice on how to make the most of your marketing efforts.
CRO is achieved through content improvements, split testing, and workflow improvements. It results in highly qualified leads, higher revenues, and lower acquisition costs. It can also be used to measure the success of a website or landing page, as well as to identify stumbling points and areas for improvement. To better understand where you stand at any time with regard to the conversion rate, there are three commonly used formulas that your company can use to understand, analyze and improve.
These are the conversion rate formula, the click-through rate formula, and the cost per acquisition formula. When it comes to creating effective CTAs (calls-to-action), basic psychology is key. You should also consider usability testing to assess 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. Finally, it's important to remember that conversion rate optimization isn't just about increasing sales or leads; it's also about creating a better customer experience.
A thoughtfully designed and powerful CVP (customer value proposition) takes you directly to the lower section of the customer conversation funnel. Make your website work smarter and not harder and generate more qualified leads and customers with conversion rate optimization (CRO).