Conversion rate optimisation (CRO) is the process of increasing the conversion rate of a website or mobile application. It is a powerful tool that can help businesses to maximise their revenue and profits by improving the user experience and increasing the number of leads generated. CRO is achieved through content improvements, split testing, and workflow improvements, resulting in highly qualified leads, higher revenues and lower acquisition costs. At the simplest level, conversion rate optimisation (CRO) optimises your conversion rate, however you want to define it.
For example, an average e-commerce website can have a 3% conversion rate, but there are wide ranges in conversion rates; a new startup without brand recognition can only convert 1%, while a huge trusted e-commerce portal like Amazon can convert 8%. This 8-fold difference in the income that can be earned highlights the importance of CRO in maximising revenue. Optimising for desktops, tablets and mobile devices is completely different, and in most cases, mobile devices are the most important experience that needs to be optimised since they account for the majority of inbound traffic for most businesses today. As you study the users who play with your website, you'll learn where the delivery points are in the conversion funnel; how many visitors to the site lead to product searches, additions to the shopping cart, starting the checkout process, and a full sale.
Every step of that process needs to be streamlined from start to finish. Another part of CRO is seeing how your marketing efforts affect conversions. Do marketing channels work better or worse? Any variation based on customer demographics? Do variations in ad landing pages have an impact on conversion rates? Do certain products convert better than others? So, it's not just about optimising the user experience of your site, but working in partnership with the marketing department to optimise what they're doing and help maximise conversions. 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, analyse and improve.
To get maximum conversions, you need to focus on developing a deep understanding of what really matters to your users so you can give it to them. Usability testing is a smart way 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 drop points. Running a CRO campaign can effectively help travel companies analyse their potentials and drawbacks and improve conversions. Bizztravel Wintersport is a Dutch travel company that improved conversions by 21%, simplifying the way users searched for vacation destinations on its website.
Similarly, you can offer personalised content to your visitors based on the industries they belong to or where they are in your conversion funnel. In conclusion, conversion rate optimisation is an essential part of maximising revenue and needs more attention than most companies give it. It is a powerful weapon that not only helps create a better user experience but increases conversions.