There is plenty of buzz around conversion rate optimization or CRO but what most companies have a hard time grasping is why CRO matters. To the average business developer or marketer, CRO is just another catch phrase to throw around without having a full grasp on what it can truly do for you – and with minimal effort, it can do a lot!
The common cast of non-conversion characters.
There is a common cast of characters that most businesses rely on for metrics that prove all is well with their website [Page Views, Referrers, Unique Visits, Unique Visitors, Campaign Clicks, etc]. The list is long, folks, and for most businesses on the web the list of metrics is the source of validation for their respective online business model.
What is vastly overlooked is that conversion rate optimization is the link in the chain that can tie your favorite online business metrics to the most common optimization demands. With that being said, let’s go into the Top 5 questions you need to answer to fully understand why CRO matters for your business:
1) Has your online business deployed a testing and optimization strategy for your website?
2) Has your business identified the unique methods to identifying your core target audience?
3) Have you identified a best performing strategy for acquisition of a customer to your core product offering?
4) Have you identified the top performing channel of consumer conversion to your core product offering?
5) Have you identified the best approach for engaging your consumer base with additional product or service offerings?
Please note page view traffic does not apply to any of the above mentioned and if you feel confident in stating that your unique visitor count says otherwise, I challenge you to prove it.
Making CRO work for you may result in a company holiday in your name
OK, maybe not, but effectively framing out your Key Business Requirements (KBR’s) and mapping them to effective Key Performance Indicators (KPI’s) to strategically deploy them within a CRO strategy may very well result in enough quantifiable successful that leadership in your organization sing your praises company-wide! So how can you make this happen?
It happens with your Key Business Requirement. The reason why you have a digital department that is constantly scrutinized by other areas of the business is because the question asked – how are users converting and at what rate or consistency is this taking place – has not been answered effectively. With an effectively implemented CRO strategy in place you answer this question. You have several Key Performance Indicators in hand addressing “visitor conversion rate”. With a strategically mapped conversion flow across your website you can speak to the rate of effectiveness that users convert on your website.
How can I strategically map a conversion flow, you ask? Test and then Test some more. Incorporate cost effective testing tools like Optimizely or Monetate, just to name a couple. Once you finish the first and second test, use the data from those first two tests to optimize the 3rd one. Testing and Optimization lead to more enjoyable online user experiences in the form of personalization.
Personalized experiences are priceless.
Once you have an effective testing strategy working for your business and you have identified the key segments of your core audience, you can now personalize their online experience to your brand.
Your personalized, highly-engaged audience will love you for it, and you’ll see that in the form of increased conversion rates, longer engagement and more vibrant commentary on your product or service offerings. Not to mention the resultant ripples from your core audience as they share their wonderful consumer experience with their personal audience through social sharing sites, recommendations and reviews, email subscriptions/ forward’s and more. To most businesses, these results are immeasurable and not easily attained.
So make sure you frame out those KBR’s and map them to effective KPI’s to support your strategic CRO strategy - finding that place in your data where every area of the digital business walks with zen-like confidence is to that which you should aspire.
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A Toast to a Long Term Highly Optimized Strategy….