The majority of digital marketing agencies focus on getting more qualified traffic to the websites and properties of their clients. But in 2019 and beyond, that just isn’t enough.
Increased competition and rising costs of marketing have left gaping holes in the formerly effective plans of many businesses, leaving those that focus solely on traffic and exposure vulnerable to those in the know.
Optimizing for conversions, known as conversation rate optimization (or cro for short), can have a dramatic impact across all marketing channels involved in the promotion of a particular offer.
Key Benefits of CRO Include:
- Increased Click-through rates (CTRs)
- More sales
- More revenue
- Boosted conversions (opt-ins, sign-ups, etc.)
- And more.
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When done right, CRO efforts can take even non-performing ad and SEO campaigns and turn them into literal cash printing machines.
EXAMPLE:
Let’s say for the sake of argument that your website gets 4000 visitors a month. Let’s say your site sits right at a 2.35% conversion rate (the cross-industry average according to Search Engine Land). That’s 94 customers each and every month (on average).
Now, take a look at what happens when we increase that conversion rate by just 1%. This small increase results in a total of 134 customers, a 40 customer increase, and a 43% increase in actual conversion numbers.
Pretty solid, right? And the best part? You didn’t even spend a single cent more on any of your existing marketing channels—not one red cent!
The Goals of CRO
At the highest level, CRO focuses on testing, gathering data, and analyzing that data to make informed decisions that:
- Positively impact the performance of existing marketing campaigns
- Enhance the performance of websites and landing pages
- Assist in converting as many qualified prospects as possible
- Reduce the chance of losing potential customers due to poor user experience (UX)
Understanding Your Audience
Data gathered through CRO efforts provides you with information that will help you better understand how your customers and prospects:
- Use your website
- Navigate when on page
- The journey they take leading to purchase
- Bottlenecks
- Which pages they find useful; and which they don’t
- And more…
In this sense, CRO puts you in your customers’ shoes, granting you real-world insight into the mind and psychology of your customers and how their thought process leads to a sale (or doesn’t).
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My Campaigns are Already Producing ROI—Why Bother?
If you’re spending money on digital marketing campaigns and have not allotted a monthly budget to CRO efforts, then YOU’RE SPENDING TOO MUCH MONEY!
Plain and simple. Let’s say for the sake of argument that you’re spending $3000 a month on ads and SEO. Let’s also say that these efforts yield $10,000 in return, netting you $7k EBT (earnings before taxes).
If someone told you, “Hey, we can turn that same $3000 in spend into $12k, or $15k, or $18k” would you say no?
CRO isn’t about spending money (though setup and time spent testing and analyzing data does come with a cost), it is about making sure that EVERY SINGLE DOLLAR INVESTED IN MARKETING YIELDS MAXIMUM ROI.
We’re Focused on More Strategic Initiatives not Minor Changes like Headline Updates
We get it. What brand doesn’t want to make big waves in their market?
To be honest, we hear this a lot. It is a common misconception among businesses that small changes to landing pages and other digital assets and funnels won’t produce results impactful to make them worth the time and money invested.
That, however, is almost always not the case. Changes made by conversion optimization specialists aren’t equivalent to throwing darts blindfolded. These adjustments are rooted in psychology, sociology, audience behavior, and backed by data.
With CRO, research and analysis yields insights that are used to make informed decisions virtually guaranteed to move the needle.
Best of all, CRO efforts produce up and downstream improvements in the customer journey and conversion rates across all channels.
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Our Site Doesn’t Get Enough Traffic, We Want to Just Focus on that First
Traffic is important, especially qualified traffic. But let us ask you this: what if you pay all that money and invest time and resources in driving traffic only to find that it doesn’t actually CONVERT?
Traffic is great, but you can’t throw traffic at a poorly performing page and expect it to convert (no matter how ready and qualified that traffic is).
Not only do you stand to lose money and time, but you also might miss out on marketing channels that actually do perform, but appear at the surface to be a non-starter due to poor conversion rates.
As you can see, both traffic and CRO work in tandem to produce the best possible ROI for your site, while providing you with mission-critical information about your audience and market.
Bottom Line
Conversion rate optimization is a vital component that every business, small or large, needs to incorporate into their marketing mix.
Interested in learning more? Not sure where to start? Don’t have the time or resources to run an effective CRO campaign on your own?
Reach out today. Our team has extensive experience in CRO optimization with a demonstrated track record of helping clients squeeze every dollar out of their existing marketing campaigns and landing pages.