Sales Optimization
Table of Contents
What is Conversion Rate Optimization (CRO)?
Conversion is the ultimate goal. Most of the time, though, the website fails to reach its conversion potential. This happens when marketers and website owners focus on the quantity of website traffic instead of quality. Traffic, along with ranking are just two of the vanity metrics that many obsess over when in the long run, conversion metrics hold more weight.
A conversion rate is the percentage of visitors who complete a desired action (in other words, convert). For instance, a desired action may be completing a web form, signing up for a service, or purchasing a product.
Conversion rate is calculated by dividing your number of conversions by your number of visitors and multiplying that number by 100 to get the percentage.
Conversion rate optimization, or CRO, is the process of enhancing your website and content to boost conversions. A high conversion rate means your website is well-designed, formatted effectively, and appealing to your target audience.
CRO Analysis & Monitoring Services
Conversion Rate Optimization (CRO) is the process or system that aims to increase the percentage of visitors that take conversion actions on your website. Whether your conversion goal is to generate leads or sell a product, you’ll need to closely monitor and optimize your conversion rate.
The process of optimizing for conversions allows you to boost your number of highly-qualified leads, increase revenue, lower acquisition costs, obtain greater value from your current leads and customers, and, simply, grow better.
This is where CRO agencies like Mediategic comes in. We will perform a thorough conversion analysis that can reveal even subtle issues on your website. You will receive customized solutions to fix existing issues and maximize your website’s conversion potential.
Why should you care?
Today, most marketing teams are focused on driving traffic toward websites in hopes that this traffic then converts into qualified leads for sale reps to close. The cycle continues and business grows.
Although this is an oversimplified look at the standard marketing playbook, it’s relevant to most businesses and marketing teams.
But there’s something missing — a tactic that few marketing teams focus on, yet one that propels the companies that do toward long-term, sustainable success and growth: Getting more out of existing traffic and leads (versus entirely new traffic).
That is where conversion rate optimization (CRO) comes in.
You should care about CRO for a few reasons. First, you are most likely paying for traffic to your site in one way or another, and a high conversion rate means a better return on that investment (ROI). It’s also much more cost-effective to convert a higher percentage of the visitors you already have than to attract more visitors. In addition to improving your ROI, optimization helps to defend against the limited attention span of your average visitor by giving them what they want before they tire of looking for it and move on.
CRO is important!
- Higher conversion rate = better ROI
- More cost effective than finding more visitors
- Defends against limited patience of visitors
It’s important to understand, however, that optimization is about getting more of the right kind of customers—not just blindly optimizing the conversion rate of a given page or campaign. It won’t do you any good if the people you’re acquiring are the wrong fit for your business. It’s important to keep the focus on optimizing to find more customers who will love your product and help you grow by spreading the word. Everything else is a waste of your time and resources.