how can CRO help you get more from your budget?
Updated: Jun 10, 2020
Is your online offering performing well? Traffic may be consistently flowing to your site driven by SEO, paid search, email campaigns, social channels or engaging content. But is it converting?
Conversion rates (CR or CvR) are an important metric which tells you the percentage of your site’s total converting traffic. Whatever your conversion goal, whether it’s a purchase, a download or an email sign-up, the higher your conversion rate, the better.
Attracting traffic to your site takes significant time and effort, so make sure you’re getting the most out of your existing traffic. But how can this be done? Conversion Rate Optimisation (CRO) is an effective way to get more from both your campaigns and your website. A widely unused digital tactic, more than four in ten companies say they don’t have a clear, defined CRO strategy, yet CRO reportedly drives a 223% average ROI. This raises the question, why aren’t businesses adopting CRO as an integral part of their paid media strategy?
Interested to find out how CRO can help you get more from your budget? You’ve come to the right place!
what is CRO?
CRO is the process of optimising a user’s onsite experience to maximise conversion opportunity and, ultimately, get more from your website traffic. It can also be used to determine how effective your paid media ads are and where email campaigns could be improved, using tools such as A/B testing and heatmapping. A well-defined CRO strategy considers each stage of the conversion funnel to ensure every aspect of your online offering is tailored to your audience while boosting conversions.
what are the benefits of CRO?
improve conversion rates
Reaching customers is becoming increasingly difficult. Consumers are experiencing ad fatigue as brands compete for the same audience. The longstanding business proverb “it costs more to attract a new customer than keep an existing one”, is important to the CRO concept.
The fundamental idea of CRO is to convert a higher percentage of your users by ensuring every aspect of your online offering is geared up to maximise conversions, whether the user is new or existing. By implementing an effective CRO strategy, both your messaging and webpage designs will be more targeted and relevant to your audience. This means users with a stronger purchase intent are more likely to flow through your funnel with more qualified leads representing more opportunities for conversion.
improve return on advertising spend
When determining ad budget, it’s likely you will consider previous campaign performance. There are many factors that can influence campaign performance such as consistency in messaging between your ads and landing pages.
Investing in CRO, website analytics are used to identify conversion barriers with issues that may affect conversion subsequently fixed. Variant testing aims to find the optimal layout and messaging ensuring your landing pages are well optimised. This insight can also be used to improve the performance of your paid media campaigns, supporting you in making informed decisions on where to invest your ad spend.
improve average order value
Not only does CRO influence how many people convert, but also what products and services they may be interested in, increasing average order value and revenue – it’s a win, win!
Biometric testing is an excellent method used to inform CRO strategy, enabling analysis of user reactions. Using conversion research techniques such as heat maps and UX analysis allows you to understand why customers do what they do. This research can inform how certain pages are positioned and creatives or ad copy can be altered to drive a higher user purchase intent. Again, testing this messaging is key to understanding how it resonates with individuals.
increase click-through rate
CRO can uncover actionable insight that can support activity outside of your website. Your newfound audience understanding should be reflected across your other marketing channels. For example, your paid media ad messaging should be in line with what the user sees when they land on your webpage. Doing so, you can generate a consistent message that your audience best responds to.
minimises the risk of costly redesigns
Many brands spend time and money on creating a website that looks amazing, only to find conversion rates are still low. Why? A website must perform for your target audience as well as look good. Beautiful imagery and fancy graphics don’t necessarily translate to an enjoyable user experience. It all comes down to what your customers want, so why not let them decide?
CRO allows iterative improvements to be made based on what you learn about your users. Whether you’re looking to make small changes to your website or complete a full website redesign, CRO should be part of this process. Conducting research helps you understand customer pain points and what they really want from your brand. You may find you don’t need a major overhaul but instead, specific improvements to remove barriers.
It can be difficult to determine whether your paid campaigns are as effective as they could be. With CRO’s iterative approach, you can begin to unlock the conversion potential within your website. A CRO strategy helps you get the most from your website, PPC and other marketing channels. Is it time to start considering your CRO strategy? Contact us to find out more.