How to Generate Growth in Your Business with Conversion Rate Optimisation
When we ask potential customers about their number one problem, it often goes around something like this:
"Why is my current website not providing enough value to my business?"
Almost all the business owners or marketing managers believe that there is value from having a website and are willing to invest.
But for some reason and despite the investment (which, sometimes, can be considerable) the perception is that the website or indeed their web marketing activities are not providing good enough returns to the business.
And for senior managers, executives or business owners, all that really matters is: revenues and profits (and, of course, order values in the case of larger deals).
Welcome to the World of Conversion Rate Optimisation
Conversion Rate Optimisation or "CRO" is a relatively new discipline that has arrived to the world of digital marketing.
But it's roots actually come from the last century when advertisers (and specifically, direct-response advertisers) discovered that they could actually improve the performance of their ads by doing some simple testing.
But unlike the last century, the complexity of the web has meant that even more sophisticated techniques have been needed to improve performance.
To start, we have all types of websites: there are those that sell directly to consumers like an eCommerce website; others which sell to businesses and then there are those that don't sell anything directly but rather, are simply trying to get more leads.
And a website can be quite a 'cruel' place to operate because of the way your customers behave.
If they don't find what they're looking for or if your website makes your customer's lives complicated, your customers will leave your site and head straight-over to a competitor within seconds.
And this isn't helped by the fact that in some (or possibly many) cases, you'll be using online advertising to get visits to your website in the first place.
And if that happens too often, you'll be paying through the nose just to acquire a new potential customer.
So unlike the last century, the complexity of the web has meant that even more sophisticated techniques have been needed to improve performance.
This is where CRO enters the picture.
Some simple math.....
Let's say each visitor to your website costs you $1.
And let's also assume that your "conversion rate" on your contact form is 1%.
In plain English, what this means is that you need an average of 100 visitors to your site to get details of ONE single potential customer.
Put another way, it costs you $100 to get that lead.
NOW, let's assume we can improve that measly 1% into 2%.
Although the change is very insignificant (just 1%), what we've done is to get DOUBLE the leads AND improve the cost ?of acquiring that customer by HALF.
In other words, instead of costing us $100, it now costs us $50 (and, of course, we got two leads instead of one).
We don't know about you but ....we'd rather pay $50 (or much less) instead of $100.
What is CRO exactly?
CRO is all about improving a number of aspects on your website and provides two key benefits:
- Increase revenues
- Reduce the cost of acquiring those revenues?
CRO is a specialised service consisting of a broad range of techniques including:
- Value Proposition Development
- Landing Page Optimization techniques
- Hypothesis development from data-based sources
- A/B and multi-factorial testing
- Information and Usability Arquitecture
- Sales copywriting and other persuasion techniques
- Marketing Funnel Development
CRO is NOT about 'throwing' more traffic to your website (but you will need a reasonable amount to test the results).
What we first have to do is find the best optimal digital marketing solution for your business.
What to do next
As you might imagine with a name like "Conversion Makers", most of our sweat and tears goes into CRO or 'CRO-related' activities (although we prefer to simply call it "business improvement").
Because at the end of the day, we know that this is what business owners want and marketing managers need to show: real tangible results.
If you're interested in finding out if CRO is a right fit for your business, why not contact us today for free and no-obligation consultation?
Just fill out the form on our contact page and we'll get back to you straight-away!