Conversion Rate Optimization - CRO
Grow Your Revenue With Conversion Rate Optimization? Long ignored in the marketing and web world, Conversion Rate Optimization or CRO, is your gateway to growing your business and leaving your competition in the dust. The CRO experts at MarketingModo will use the latest analytics conduct and monitor A/B and Multivariate Tests on your website. If you need someone to drive your conversion rate higher, you need MarketingModo!
What Conversion Rate Optimization?
Conversion Rate Optimization or CRO is using analytical data, tests and user feedback to improve the performance of your website. Regardless of what your KPI or Key Performance Indicator for your website is – conversion rate optimization can be used to improve that metric. So, if you are looking to acquiring new customers, registrations, email signups, contact form submissions, downloads, etc – conversion rate optimization is what you will need to drive it higher. Simply put, CRO increases the percentage of your website visitors who experience what we at MarketingModo we like to call it the “aha moment” that turns passive visitors to your site into valuable conversions.
At its most basic level, conversion rate optimization means figuring out what users are looking for when they arrive at your site and then giving that to them so they convert. The CRO process involves understanding how users move through your site, what actions they take, and what’s stopping them from completing your goals. The actual optimization takes many different forms, based on the KPI the CRO efforts are focused on. Sometimes this involves making your call-to-action more apparent, changing the color of a CTA button, changing the layout of a page on the site or placing a CTA on a traffic-heavy page. CRO can also involve removing or relocating complicated, confusing or time-consuming steps from your conversion funnel, as the added friction can prevent a conversion from ever happening.
Why You Need CRO?
You need CRO for a few very important reasons. First, its strictly good for ROI. You have a website and you are most likely paying for traffic to your site probably through paid search such as Google AdWords, and a high conversion rate means a better return on your investment (ROI). Rather than using that money to attract more traffic to your site it is much more cost-effective to convert a higher percentage of the visitors you already have. It works the same way for organic traffic as well. Being free and requiring relatively little financial investment, organic traffic already provides a good ROI – how would like to make a good ROI even better? Most of your traffic is likely coming from organic search so even a little improvement here is likely to have major positive effect across your marketing mix as a whole. In addition to improving your ROI, optimization helps improve your user experience or UX. Due to the limited attention span of your average site visitor you have precious little time to give them what they are looking for before they bounce off your site and CRO works in giving them what they want before they tire of looking for it and move on. So CRO actually serves many purposes but here are a few more reasons why you should consider CRO:
- Reason 1: Every website can do things better. No matter how well-designed your site is and no matter how many visitors you’re converting into users at any given moment, your conversion rate could be better and you could make the conversion process easier –leading to better results for you.
- Reason 2: Paid advertising is getting more expensive and competitive. For those of us in the industry this comes as no surprise but is usually something most business owners are unaware of. Spending more is not the answer, especially if there are bumps or slow points in your conversion funnel that need to be addressed. CRO works with what you have to help you to identify and deal with those problems first.
Reason 3: Optimization is about getting more of the rightkind of customers to act. It’s not just converting anyone. One thing we like to say at MarketingModo is that we can bring thousands of visitors to your site but if they are the wrong audience or if your website is not optimized for them than it is pointless. You don’t want to convert everyone. You are looking for a specific audience who will love your product or service and help your marketing efforts by telling everyone they know how great your brand is.
Reason 4: CRO is basically free. CRO focuses on the traffic you already have. This doesn’t mean more visitors to your site, just doing you doing a better job of converting them once they get there. Optimization increases the return on your current marketing and web investments, and converting a higher percentage of yourcurrent visitors is much more cost-effective than attracting new ones.
Reason 5: It lowers your customer acquisition costs (CAC) and Cost Per Acquisition (CPA). In fact, if you double your conversion rate you have also halved your cost-per-acquisition (CPA). Not a bad side effect huh?
Reason 6: CRO helps your business maximize profits. Not only does it maximize your profit but, your profit is closely tied to your conversion rate so by improving the former you improve the latter. Because you aren’t paying more of your marketing budget to acquire these conversions, that profit goes straight to your bottom line.
Reason 7: It gives you more money to spend on additional driving traffic to your site. Remember when we said conversion rate optimization saves you from having to spend more on acquisition of new visitors instead of better converting the traffic you have? Well CRO also gives you more money to put towards getting more visitors to your site. You will also where to spend it better than you did before because thanks to the conversion optimization efforts you have done you know which channels and funnels are bringing in the users you need).
Reason 8: CRO improves your user experience. Conversion optimization allows you to use the limited attention span of the average site visitor by giving them what they’re looking for sooner and before they have a chance to find it on your competitor’s site.
Reason 9: The Better Brand Takes All. We have all heard of “winner takes all” well it also applies in the digital world. Customers wants things fast, easy and painless. All your business needs to do to be successful is to be slightly better than your competitors in providing just such as experience and customers will flock to you. So if you optimize your site to give its users what they want in just a slightly better or faster way,they are going to go with you and stay with you.
- Reason 10: Your Competitors Aren’t Doing It. The Art of War states that to conquer your enemies you much succeed where they fail and use your strength to attack their weakness. We can tell you that weakness is that they are probably not doing conversion rate optimization. You probably don’t have the patience nor the foresight to even consider it and if they do it will likely be amateur in the attempt. This is your opportunity to stick the competition in the flanks as our friend Sun Tzu would say (maybe not quite like but you get the point)
Reason 11: CRO boosts your marketshare. Once started, conversion rate optimization starts an ever increasing cycle of improvement that will increase your market share. The better your conversion rate, the more visitors you convert, the more visitors you convert the higher your revenue, the higher the revenue the more you can spend on driving more traffic, the more traffic you get the more you can convert, and so on. You’re dominating your market before you know it and before the competition realizes what is happening.
What If I Want To Improve Another Metric?
Your KPIs are what is important to us so we will work with you on optimizing towards whatever KPI you hold near and dear to your heart. From funnel experience and landing page optimization (useful in paid search campaigns) to reducing bounce and exit rates on your site (also highly important given that Google is now looking at performance metrics as a ranking factor), our Conversion Optimization experts have the experience and skills you need regardless of what KPI you are looking to improve.
Our Optimization Process
First we will have a kickoff meeting in which we will discuss your business, its goals and objectives and key performance indicators. We will request access to your analytics so we can do a preliminary investigation and get a feel for your data and establish a baseline. We will then begin planning a conversion rate optimization plan for your website that will utilize multiple conversion rate optimization tactics. Next, working with you we will develop a number of hypotheses on methods to grow your conversion rate that we will test. We will prioritize and run those tests and report the results. In the cases where there is a statistically significant outcome we will work with you to implement those findings onto your website.
What Makes MarketingModo Different
At MarketingModo we offer a dedicated team of conversion rate optimization experts whose sole mission will be to increase your conversion rates as though it were their own business. That is why we consider ourselves your partner in conversion rate optimization instead of just another vendor. Why hire a single analyst or developer with limited experience when we can offer a more cost-effective team of analysts with over 10 years of experience in conversion rate optimization.
We strive to provide superior service by offering the following to all our CRO clients:
- A dedicated Account and Project Manager, this person will be your main contact. Consider them an extension of your team. They are your conversion rate expert.
- Weekly or bi-weekly communication and 100% transparency. You will know everything we are doing every step of the way.
- A support team of trained and certified web developers, IT engineers and analysts.
- Affordable conversion optimization packages tailored to your budget. Conversion rate optimization shouldn’t just be available to businesses with large budgets.
MarketingModo has the expertise you need to grow your business via conversion optimization. Contact Us Today!