How to Improve Your Revenue With Conversion Rate Optimization (CRO)?
As every business people want to make a bigger revenue from their business website. But at some point, they are lagging in converting website visitors into loyal customers.
By executing conversion rate optimization best practices, you can gain more subscribers, leads, sales, and high return on investment in marketing. Yeah..!! CRO(Conversion rate optimization) is one of the fast and cost-effective methods to turn website visitors into paying customers.
Let’s get started to know from What is CRO?
In digital marketing, CRO is the practice of increasing the percentage of website visitors and convert them as a loyal customer by performing the desired actions on the website.
There are two types of conversion which are micro and macro conversion.
Macro conversion: Macro conversion is the concept of converting visitors into customers by completing the primary action on the website. The actions might be a purchase of a product or services, subscribe or fill out the lead form.
Micro Conversion: In contrast, Micro conversions are that the customers engaged with your business brand by signing up a newsletter, watched your explainer video or followed you on social mediums. Here, the users are moving towards the macro conversion.
How to calculate the conversion rate?
The conversion rate is the percentage of website visitors which actually converts. Here’s the equation to find conversion ratio,
Total transactions / total visitors * 100
Why it is so important?
Conversion rate optimization is so important because it delivers higher sales from the same amount of traffic. Instead of investing money in digital marketing services like PPC, social media paid ads, influencer marketing and more, you can drive more leads and sales with the current website traffic. If you want more website traffic, you can get it from the CRO improvements.
Let’s see one example, Consider that you are the owner of one business website. The main objective of yours is to convince 5% of people to buy sell the business product which costs $50 every month. Before CRO optimization, you can convert 50 customers monthly among 1000 visitors.
After optimization, your conversion ratio increases from 5% to 7.5% and you can turn 75% of visitors into customers. That’s great. With the effective conversion funnel, the conversion rate was increased for the same number of visitors.
Doubles your conversion rate and earn more money
CRO is the best way to boost your business sales in a cost-effective way.
Benefits of CRO:
Conversion rate optimization will make your website better as well as your conversions also improved.
To continue this article, click here >> Steps for improving conversion rate
