What is Conversion Rate Optimisation? (CRO)
Today, most small business owners drive traffic towards websites, which then converts into leads. Once this process starts to deliver results, you can then seek to generate even more traffic, and hopefully even more success.
An oversimplification, but that’s the standard marketing playbook. Few small business owners focus on getting more from existing traffic. That’s where conversion rate optimisation (CRO) comes in.
In this blog post, we’ll teach you all about CRO — what it achieves, why you should do it, and how Become Digital can execute it.
We’ll explain how you can drive more results from your existing traffic so your content can work smarter, and not harder, for you
What Is Conversion Rate Optimisation (CRO)?
Many websites are designed to convert website visitors into customers. These conversions occur all over the website — on the homepage, pricing page, blog, and landing pages — and all of these can be optimised for a higher number of conversions. The process of optimising those conversions is exactly what CRO entails.
CRO is a huge, often untapped opportunity for small businesses, and you might be surprised by the oversized impact you could deliver by fine-tuning your website for conversions.
When Is Conversation Rate Optimisation (CRO) Right for Your Business?
Once you start to deploy Social Media Marketing campaigns that attracts website visitors who consistently convert into leads for your sales team, you should start thinking about CRO.
Most businesses have a finite demand for products and services, so it’s imperative that you make the most out of your existing website traffic. Tools like Google’s Global Market Finder can show you online search volume to give you an idea of your potential customer demand. Once you determine the threshold of your customer demand, it’s time to nail down how to get more out of your new and existing website traffic.
Below are three formulas to help you figure out how to tackle CRO at your small business, and what goals to set:
- New revenue goal ÷ average sales price = # of new customers
- # of new customers ÷ lead to customer close rate % = lead goal
- Leads generated ÷ website traffic X100 = % conversion rate
To help you understand the impact CRO could have on your business, here’s an example of the formulas in action.
If your website has 10,000 visitors per month that generate 100 leads and subsequently, 10 customers each month, the website visitor to lead conversion rate would be 1%.
But what if you wanted to generate 20 customers each month? You could try to get 20,000 visitors to your website and hope that the quality of traffic doesn’t decrease. Or, you could get more leads from your existing traffic by optimising your conversion rate.
If you increased the conversion rate from 1% to 2%, you’d double your leads and your customers.
The table below shows the impact of increasing your website’s conversion rate:
| A | B | C | |
| Monthly website traffic | 10,000 | 10,000 | 10,000 |
| % conversion rate | 1% | 2% | 3% |
| Leads generated | 100 | 200 | 300 |
| # of new customers | 10 | 20 | 30 |
The key point here? Trying to generate more website traffic isn’t necessarily the right approach. Think of it like a leaky bucket. Pouring more water into a leaky bucket won’t fix the root cause — you’ll just end up with a lot of waste. Conversion rate optimisation is about getting more from what you have and making it work even better for you.
Ready to take the first steps towards CRO for your small business? Enquire about our Website Design services.
