What is Conversion Rate Optimization (CRO) & How it Boosts Your Profit

What is Conversion Rate Optimization

What is a conversion in your point of view? If a visitor downloads your eBook, download your app, register in your site or purchase a product…etc Am I right? That means you want your visitor to do some action which you are really expecting from him to do while he visits your site. CRO is nothing but measuring this action and optimize to “how to increase this action or conversion rate more”. Conversion Rate Optimization is a method which helps you to leverage the performance of your website by using User Feedback and Analytics. CRO is very much useful to improve any metrics (Key Performance Indicators – KPIs) on your website, which you are really trying to improve. It is also useful to gain new customers, subscription, downloads…etc. I mean to say that CRO will increase the percentage of web traffic by converting a passive visitor to an active customer by giving the “Most Have User Experience”. With the help of CRO, you can give your customer what exactly they are looking for once they visit your website. In a simple way, CRO is more helpful in finding that why conversion is not happening and how to resolve it.

So Conversion Rate Optimization is;

  • A well-defined systematic approach to boost the performance of the site.
  • Measured by User Feedback & Analytics.
  • Helps to get the most benefits from your existing traffic.

How Conversion Rate Optimization Boost Your Online Business

1.Better RIO

We might be paying for our traffic one or another way. If you can convert your paid traffic into potential customers, you gain more profit. i.e, you get better Return on investment (ROI). CRO will help to increase the ROI.

2.Need Improvement Always

Today you might be having a wonderful website, enough traffic, good conversions…etc. But Conversion Rate Optimization will help you to improve always and then future, irrespective of what you have now. It will give a space for improvement always.

3.Cost Effective Method

Always paying for ads to get business is not the right solution. Certain extend it will help you. But what you do if the conversion is not happening. So identify the problems right away from the first visitor. CRO will help you to track what is the reason behind “why conversion is not happening”, How to fix it, how to create more conversions from the existing visitors, how to involve users more effectively…etc It is more cost effective than Ads.

4.Who Fits for Me

Optimization is not just a process to get conversions. Right users (people who love your products or services) and conversions are more effective than a just conversion to grow your business. CRO will help to find out those right ones and engage them in your business route map properly.

5.Reduce CAC

Think that how great it is if you can double your profit from the existing users? Of course, your spending on customer acquisition will reduce. So CRO will help to reduce Customer Acquisition Cost (CAC) by generating more profits from the existing ones. Also, the additional money which you get through CRO can utilize for new customer acquisition.

6.Increase Your Brand Value

CRO will help you to stand up than your competitors in the market. People love to associate (affiliate) with companies who bring more business. If you have a good conversion rate, more affiliates will associate with you. It will increase your brand value, share rate, traffic…etc.

Best Tools for Conversion Rate Optimization

Here are the best CRO tools. Select the best tool depends on size, product, and traffic of your company and website. For beginners, Google Analytics is much more enough to the required tasks.

Final Thought

May one tool will work for your business immediately. Kindly do not become comfort by seeing the improvements. Always there is a scope for improvements. Keep tracking for the best. Try to stay at the top always and work to become the industry leader, not a first place or second place runner.

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