What is Conversion Rate Optimization (CRO)?
Conversion rate optimization (CRO) is the process of increasing the percentage of users who take the actions you want them to, such as clicking on a website link or purchasing a product online. Two critical conversion rate optimization (CRO) strategies are A/B testing and personalized marketing. Both use analytics to uncover customer insights to help you craft the right message to the right person at the right moment for better results.
Example
For example, let’s consider an e-commerce website that sells clothing. The website owner notices that while they’re getting a decent amount of traffic, the conversion rate (percentage of visitors who make a purchase) is relatively low. To improve CRO, they might:
- Analyze website data to identify high-traffic but low-converting pages.
- Conduct A/B tests to compare different versions of product pages, headlines, or calls to action.
- Optimize the checkout process to reduce friction and simplify the purchasing experience.
- Implement persuasive elements, such as customer reviews or trust badges, to build trust and credibility.
- Continuously monitor and analyze performance metrics to iterate and refine the optimization efforts.
By implementing these strategies and continuously iterating based on data-driven insights, the website owner can improve their conversion rate and ultimately drive more revenue from their existing traffic.