Conversion Rate Optimisation Crucial to 59% of Businesses’ Digital Marketing Strategy
A recent study carried out by Econsultancy and RedEye has shown that 59% of businesses see Conversion Rate Optimisation (CRO) as being a crucial part of their overall digital marketing strategy, with a further 31% seeing it as ‘quite important’ and 9% seeing it as ‘important’. Put another way, 99% of businesses see CRO to be important to some degree whilst only 1% see it as ‘not important’.
So what is CRO? and why is it important?
What is CRO?
CRO is creating and adapting your website in such a way that leads to proportionately more people “converting” on your site. A “conversion” could mean any identified preferred outcome, e.g. the visitor fills in a form or makes a purchase. Optimising for increased conversions can take a number of different forms, such as rejuvenating the appearance of your website, changing the offer and layout of a single page or making it simpler to navigate, anything that leads to a higher conversion rate.
Why is CRO Important?
CRO is important as it means that a higher proportion of the people that visit your site convert, leading to a better conversion rate. With an improved conversion rate you can maintain the same level of marketing investment and achieve a higher return on investment (ROI). Having a higher conversion rate and ROI means that should you choose to invest more into marketing your site then you have a far greater chance of increasing your sales and thus increasing your ROI further.
Barriers to CRO
There are a number of factors that could potentially get in the way of you addressing your sites CRO such as:
- Lack of resources
- Lack of budget for optimisation
- Conflict of interest between different departments
- Lack of strategy
- Poor technology
- Poor integration between systems
- Siloed organisation
- Company culture
- Lack of ownership
Some of these factors, such as a lack of resources or budget, aren’t controllable but this does not mean that you cannot improve your CRO. All this means is that instead of making major changes to your site in one go in an attempt to improve your CRO, you will need to make smaller changes continually over time to make these improvements. The important thing however is to make sure you are measuring the conversions rate (before and after “treatment”) in a statistically valid way.
If you have any questions about CRO or how to improve your sites conversion rate then please contact me at [email protected]
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