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Conversion rate optimization (CRO)

What is conversion rate optimization (CRO)?

Conversion rate optimization (CRO) is the process of increasing the percentage of visitors to a website who perform a desired action, such as making a purchase, completing a form, or signing up for a newsletter. 

How does conversion rate optimization work?

CRO is rooted in data and analytics and relies on testing different webpage versions to see which performs better in terms of the desired action. For example, if you want to increase the number of people who buy a product through your website, you would test different versions of the product page to see which one results in more sales. 

The key to effective CRO is making small, incremental changes to your web pages, then measuring their impact on conversion rates. By constantly testing and tweaking your website, you can gradually increase your conversion rate to generate more leads, sales, and revenue.

What affects conversion rate in optimization?

The following 5 factors affect conversion rate optimization: 

  1. The quality of the traffic sent to the site. If the traffic is not targeted or interested in the products or services offered, the conversion rate will be low. 
  2. The design of the site. If the site is not user-friendly or appealing, visitors will not stay long, and the conversion rate will be low. 
  3. The offer. If the offer is not attractive or relevant to the visitor, the conversion rate will be low. 
  4. The price. If the price is too high, visitors will not convert. 
  5. The competition. If other sites are offering similar products or services at a lower price, visitors will not convert.

Once these factors are understood, businesses can develop and test hypotheses to improve the situation. 

Why is conversion rate optimization important?

Conversion rate optimization is vital for all businesses with an online presence because it helps them improve their overall performance and ROI. A well-optimized website can have a big impact on your bottom line. Even a slight increase in the conversion rate can lead to a  significant increase in revenue.

When to use conversion rate optimization?

CRO methods and practices (such as A/B testing, optimizing website speed and usability, using effective calls to action, etc.) are commonly used when trying to improve any desired action on a website or a mobile app like purchasing a monthly subscription, downloading an e-book, or signing up for a newsletter. 

As many potential causes of low conversion rates exist, it is important to test different solutions to see which one has the biggest impact. CRO is an ongoing process as there are always new improvements to be made. The key is to constantly test and make improvements to maximize conversion rates.