Conversion Rate Optimization (CRO)
CRO stands for Conversion Rate Optimization. CRO marketing is a method of increasing the percentage of your website’s visitors who take the desired action (or, to use marketing speak, who ‘convert’). Conversions are a marketer’s holy grail, but the term can mean different things depending on your company’s goals.
Why is CRO important for your business?
Conversion rate optimization is important because it allows you to lower your customer acquisition costs by getting more value from the visitors and users you already have. By optimizing your conversion rate you can increase revenue per visitor, acquire more customers, and grow your business.
For example, if a landing page has a conversion rate of 10% and receives 2000 visitors a month, then the page will generate 200 conversions per month. If the conversion rate can be improved to 15% by optimizing different elements on the page, the number of conversions generated jumps by 50% to 300 per month.
There is always room for improvement when it comes to increasing conversions, and the best companies are constantly iterating and improving their sites and apps to create a better experience for their users and grow conversions.