So your website is up and running, ranking well, drawing in lots of traffic and making your business lots of money. What now? The next step in your online marketing campaign should be to develop and adapt it, look towards social marketing and then CRO.
CRO stands for Conversion Rate Optimisation, a technique used in online marketing to boost website conversions and help you get more business from your current traffic. Here is why CRO is so important.
Continual Campaign Development
One of the most important things with an internet marketing campaign is to ensure that you don’t just sit on the progress you’ve made, if you’re not developing and moving forward then you’re going backwards, especially in the fast moving world of SEO. CRO is the stage after your website has achieved good rankings and consistent traffic, once you are collecting all of the traffic from your keywords, the next step is to convert more of that traffic.
CRO Can Boost Your SEO
Google is determined to deliver the results that users want, due to this they are introducing more and more user experience signals to their algorithm. CRO focuses largely on UX (user experience) to boost conversion rates, by working with your website’s layout, menus, product displays, navigation and looking at the way your customers move through your site we aim to get your customers to the buying stage as easily and quickly as possible.
More Custom From Your Customers
Of course CRO costs money, initially. An internet marketing agency will have to carry out hours of research, looking at your competitors and how your customers move throughout your website or interact with it. The benefit is that once the necessary work has been carried out and paid for, that’s it. You are now getting more business through your website for the same advertising costs per month.
The Winner Takes It All
Just as in sports, in business the winner takes it all. The fact is that to be the winner online you don’t have to be the best by far, only by a small amount. If potential customers visit your website without converting then it’s likely some of them will go and convert on one of your competitors sites.
The image above is perfect for demonstrating the small margins that can make all of the difference, was Vinales (bottom right) far out in front of Fenati (on the left)? No, he finished just 0.020 seconds ahead of his rival, yet Vinales took the win and Fenati missed out on more points and an addition to his race record.
More Conversions = More Profit
Of course the more your business sells, the more money you will take and therefore the more profit you will make, assuming you’re covering all overheads and advertising/sales costs already. The real effects of conversion rate optimisation can be seen when your profit margins rise sharply from just increasing a conversion rate by 10%. This seemingly small improvement could effectively double your profit margin by sending all extra sales to the bottom line.
Get there First
If your competitors aren’t making use of conversion rate optimisation yet, beat them to it and use their lack of insight to your advantage. If you’re out in front then you’ll be the one making the money.