One of the primary reasons that businesses have set up websites is to attract new leads and then gather information about them. Doing so aids a business in eventually nurturing these leads into customers. Different methods are used by a business for accomplishing this goal, which range from organic SEO, social media engagement, blogging and pay per click advertising. However, in order to assess the effectiveness of your online marketing efforts, you need to look at the conversion rate i.e. how many visitors on your website are being converted into customers. If you are getting thousands of visitors, but are converting only a handful, then there is a problem.
This is one of the primary reason why conversion rate optimization (CRO) is a vital strategy for every business. It is aimed at helping a business in maximizing the incoming traffic on its website by first convincing them to become email subscribers and then nurture them into loyal customers in the long run. Conversion rate optimization means knowing where the conversions are occurring, whether through sign-up forms, pop-up messages or blog offers amongst others. This can tell you what is working and what needs to be fixed. When it is done right, conversion rate optimization can offer the following benefits:
– CRO increases customers and boosts sales
This is simply a no-brainer; when you are improving your conversion rate, it means you are successfully convincing visitors to sign up for email or actually pushing them to make a purchase. Even if they only subscribe to emails, it still opens up a platform for you to reach out to them through email marketing campaigns. It is incredibly obvious that your sales will increase when you are able to nurture your leads, but it should also be noted that even a slight improvement in your conversion rate can have major impacts on profits. They will add directly to your bottom line.
– Current website traffic can be leveraged
One of the biggest perks associated with conversion rate optimization is that it works with your current level of traffic on the website. Yes, there is an initial investment of both time and money, but once it begins to work, you are able to make the most of the traffic that’s already coming to your webpage through search engine optimization and other marketing efforts like email and social media. After all, the purpose of CRO is not to drive more traffic; it is about ensuring the visitors convert into customers.
– Reduces your customer acquisition costs
If you are in desperate need of funds for your marketing campaigns like PPC or social media, you can easily free up your money by increasing your conversion rate. When your website is optimized, the traffic coming in from other campaigns will automatically see an improvement. This will create a cycle of money that works in favor of the business because customer acquisition costs are reduced as improving conversion involves converting visitors into customers.
In a nutshell, conversion rate optimization helps you in getting ahead of the competition and expanding your user base thereby impacting your business goals.