CRO stands for Conversion Rate Optimization, which in our language means Optimization of the Conversion Ratio. It consists of the set of techniques that help to optimize a website or landing page to increase the number of visitors, with the aim of increasing the percentage of sales, leads or any other type of conversion.
To begin with, it is very important to emphasize that the purpose of a CRO strategy is not to increase the number of users visiting the site, but rather that those visits reach a conversion. In other words, if your website has 1000 visits per day and 5% conversion (50 sales), the objective of the CRO is not to get 2000 visits and 100 sales, but that those 100 sales are produced with only the initial 1,000 visitors.
Anyone engaged in CRO needs to design and contribute ideas aimed at increasing online sales or the conversion rate, through a good segmentation of the potential public, depending on which device they use the most, studying the behavior of users on the web, etc.
To understand the conversion optimization, it is essential to understand what a conversion is, since it is not necessarily an online purchase, although it is usually one. A conversion can be for example the subscription to a newsletter, the creation of an account, the potential customer to complete a contact form, or the download of a catalog. Regardless of the purpose of the website, a conversion involves completing a certain action. The conversion ratio refers to the percentage of traffic that effectively completes the specific action. The conversion optimization is the service in which specialists work to increase the desired actions of the users of your site, without the need to invest in attracting more traffic.
What is the conversion rate?
The conversion rate is the percentage of users making a purchase (or any other conversion action such as a download or registration). It is obtained as a result of dividing the number of orders among the unique users who visit the web. A small increase in your conversion ratio will mean a big increase in your sales. For example, if one out of every hundred users makes purchases on the web, the conversion rate will be 1%. If this ratio could be increased by 0.5 percentage points, the resulting total sale would be 50% higher. In general, the impact on results is even more positive given that the first sales are dedicated to cover the fixed costs of the business.
A / B Testing
One way to carry out CRO improvements in your business is called A / B Testing, with which we measure the reaction of users to two versions of your page in order to identify which version of your landing page works best. You might need a fully customized A / B Testing service tailored to the needs of your business. Through creative variations and web analytics it is possible to improve the efficiency of a web in a methodical and scientific way.
Whatever your goal is, you need to prepare yourself in facing the next year with conversion optimization in 2018. There are a lot of things to do as the competition is getting heavier by the day.