Conversion Rate Optimization (CRO)
WHAT IS THIS?
Every website has barriers that get in the way of customers making it all the way to completing a sale. The percent of customers who complete a sale represents the conversion rate, which may be 0.75% to 3% for most consumer goods ecommerce websites.
The goal in conversion rate optimization in ecommerce is to find and eliminate as many barriers as possible, so customers have fewer and fewer reasons to leave without completing a sale.
WHAT IS THE RETURN?
Let's say your website has total sales of $4 million per year and your overall current conversion rate is 1.10%.
Using data from your website visitors' patterns, we're deliberate about making modifications to your website's page layout, design elements, navigation, colors of call-to-action buttons, site flow, or other issues that may be pushing down the website's ability to sell.
Immediately after implementing the changes, a minimum conversion rate increase might be going from 1.10% to 1.30% overall. Boy, that doesn't sound like much, does it?
If a $4 million business improves from 1.1% to 1.3% overall conversion rate on sales, annual gross revenue increases $727,000!
Because CRO is an investment in a long-term better performing website with easy-to-measure outcomes, it's an important part of an overall ecommerce strategy.
WHAT DO WE DO?
We will do an assessment of your site and report on all the areas that we believe may be opportunities to bump up your overall conversion rate. We'll look at mobile, desktop, and tablet. We'll assess where customers are leaving the site.
In some cases, we'll have strong recommendations not needing testing; due to known best practice in ecommerce.
On other suggestions, we'll want to do a little A/B testing to see if a proposed solution performs better than existing. And then we may do A/B testing on another approach as well.
The appeal of Conversion Rate Optimization is to gain more revenue from existing traffic and existing advertising. Successful tactics show positive impact immediately!