CRO

Conversion rate optimisation (CRO) is the process of improving a website to increase the percentage of visitors who complete a desired action, like buying a product or signing up for a newsletter. CRO involves analysing user behaviour, testing different elements, and making changes to your site based on the insights generated.

If your current website is converting at <1% and you are bringing in thousands of visitors a month, it’s a strong signal that this part of your marketing funnel needs a lot of love and attention. Imaging improving this result by 500%. These are benchmarks that many industries can look to achieve.

CRO is important because it helps you to maximise the value of your existing website traffic. It’s a way to make more money without needing to attract more people to your site. This makes it a fantastic investment for any business that already enjoys a good level of web traffic.

There are a number of ways to optimise the conversion rate of your website, but A/B testing generally forms the foundation of any CRO effort. A/B testing replaces guesswork with science, because it tells you exactly which version of a web page or website component visitors prefer, and which is more effective at guiding people down the sales funnel.

A ‘good’ conversion rate will vary from business to business, industry to industry. The average conversion rate across ecommerce businesses is around 3%, but this figure can be far lower in some industries (particularly for technical or high-value products), and far higher in others (such as businesses who deal in low value or impulse purchases). However, as you will note earlier, we believe there is an opportunity to push towards 5% and even higher.

At Traction we’ll help you understand what your current conversion rate is, what rate you should aim for, and how to get to that target figure.

The cost of conversion rate optimisation can vary dramatically based on the size of your site and the level of work that needs to be done, so unfortunately there’s no single, simple answer to this question. The way we work is to agree on a set number of hours per month to dedicate to getting positive conversion results, we will then monitor and report on the impact this has on your conversion events. Once we are happy that one page is optimised as much as possible we will move onto the next opportunity within your website.