Every salesperson and business manager is looking for that magical way to improve the bottom line. Should they add more people on the ground or on the phone? Or look into new product or service offerings? Or re-analyze their competitive edge?
There’s actually something that most businesses can review and do, today, to help build a stronger business-client relationship and boost sales, too. It’s called conversion optimization rate.
To really understand conversion optimization rate (CRO), you need to think differently about your Internet presence. What are you hoping to get visitors to your site to do? It doesn’t have to be “make a purchase.” You might simply want them to sign up for an email subscription program. You might want them to share your site with another person. You might want them to follow you on another social media platform.
Whatever that goal is, when a website visitor does that, you’ve converted them. Take the total conversions and divide them by the total number of visitors, and you’ve got your conversion rate. Figure out how to make your conversion rate the highest it can be, and you’ve got your conversion optimization rate.
Heady stuff, right? But it’s exciting, too, especially for a business willing to devote some resources and effort to improving that rate—and for those who understand that even small improvements in that rate can translate into something big.
As with most business analysis, there’s work that goes into CRO. It means gathering analytics, creating goals, and maximizing traffic. What it doesn’t mean is off-the-cuff, intuitive methods to improving customer responses.
There’s a process that’s best to follow in order to improve CRO. For starters, you have to know who your company really is, and who your customers are too. What do you believe about your CRO, and how are you going to measure it?
Once you get to that point, you can test different strategies and put in place certain improvements to track CRO. Some of those things are simple but bear investigating. Site speed, for example, can be a detriment to people’s conversion. That really cool website page? It’s great for design awards, but if you confuse customers with it, you’ll lose them. The same is true with long landing pages and very small product images. Don’t hide from visitors what you most want them to engage with. That’s true of copy as well. If customers don’t know what you want them to do—even if it’s just sign up for email—they won’t follow through. Make your “call to action” obvious.
You can experiment, of course. Some colors may work gangbusters and some may not. Reviews are helpful to reinforce good feelings that people might have, too.
The point of all this is that constant analysis and testing of different elements and approaches is the best possible way for you to get at what’s driving CRO. It offers you a pathway to improving that crucial ingredient to business success, and in the end it’s an essential piece in the puzzle for you to ensure your product or service is around for the long haul. Use this infographic to get started and keep on top of your CRO.