There’s an old saying that it’s a bad wind blowing at least a few benefits on no one, and the growing trend towards Conversion Rate Optimization (CRO) is a prime example of that. The focus on optimizing website conversions has caught the attention of marketers around the world, mainly due to the high number of benefits offered by this strategy. Here are some of the benefits you can expect from implementing a comprehensive CRO plan.
Benefit # 1: Leverage Existing Website Traffic
Are you getting visitors to your website but not getting enough customers? Research shows that a reasonable website conversion rate is between 2% and 5%. This means that the higher your traffic, the better your chances of getting customers from visitors.
In the good old days of sales, the saying was “the man (the person) who calls takes the orders”. Nowadays, it’s the website that attracts the traffic that makes the sales. Use these proven CRO methods to create engagement opportunities on your website to retain visitors and increase website leads. Your reward will be a higher conversion rate and more sales for your existing website traffic.
In fact, before you spend any more money on marketing, it’s essential to find out how you can further convert your current traffic. Check out my video interview on this topic here.
Benefit # 2: Reduces customer acquisition costs
The costs of getting new business can be high. According to research data from 700 companies, customer acquisition cost (CAC) has increased 60% over the past six years. Marketing costs more and more and CAC is a variable that can make or break a business due to its impact on growth.
A robust CRO program helps reduce CAC costs by identifying the right mix of elements on your web pages, posting relevant landing pages, and using CTAs that encourage a higher percentage of your visitors to convert.
These actions lower your cost per lead without reducing profits, which increases the ROI of your marketing spend.
Benefit # 3: Increases Customer Lifetime Value
The flip side of CAC is finding ways to retain existing customers so that you can earn more income from them without having to spend money on getting new customers. CRO strategies can directly influence Customer Lifetime Value (CLV). Through customer retention and re-engagement tactics, CRO increases the value of your sales and customer loyalty.
Benefit # 4: Improves Search Rankings
Every marketer worth his salt knows the importance of being found in research. As difficult as it is to make the first page of search results, it remains vitally important to use best practices to try. And while content and images are essential, there are other CRO options you can use to improve Google rankings. For example, site speed is a direct SEO ranking factor because a slow website automatically results in higher bounce rates and lower conversions.
Benefit # 5: Increase Website Revenue
CRO increases the revenue a website generates simply by reducing costs such as CAC and maximizing marketing ROI. Additionally, you can expect to increase sales and profitability using methods such as posted customer reviews, adding lifestyle images to product pages, and providing a seamless user experience to customers. customers online.
Advantage n ° 6: collection of customer data for Business Intelligence
Collecting data and getting to know customers better is a primary conversion rate optimization strategy. If you have traffic and a way to analyze user data, you can get insight into the hearts and minds of your customers, whether they are past, present, or future customers.
Quantitative data provides information about what, when, and how customers take actions leading to a purchase, while qualitative data focuses on why they do things. This type of data is typically collected through surveys, interviews, and complaints, and can help you understand your customers’ weak spots and their experience with your website.
Knowing these facts allows you to tailor your online interface and product offering to better meet the needs of your customers.
The benefits of conversion rate optimization are clear, so what are you waiting for? Contact us today to find out how to turn your website into a valuable online income source.