Conversion rate optimization is important because it allows you to lower customer acquisition costs by getting more value from the visitors you already have. By optimizing your conversion rate you can increase revenue per visitor, acquire more customers, and grow your business.
Here are ten more reasons why conversion rate optimization is important for your business.
1. Rising pay per click costs
We all know that pay-per-click pricing is reaching all-time highs. It is simply supply and demand – with more people embracing the need for online ads prices go up. Pay-per-click used to be one of the best ways for a business to get attention while search engine optimization kicked in, but it’s becoming less and less of an option, especially if not all of the clicks convert into sales. That’s where conversion rate optimization helps make the most clicks that you do get, so that clicks actually pay for themselves.
2. Increase online competition
Across the board, there are more and more retailers online, competing for your customers. If you want to convert your page visitors into customers, you need to have a website that is easy to use and funnels visitors towards taking action and making the purchase. Conversion optimization has the benefit of allowing you to stay ahead of the competition.
3. Increase in the cost of digital marketing
Any kind of digital marketing—and even traditional marketing—is more expensive now than it was this time last year. The whole point of marketing is to direct users towards your store, but how can you make sure that more of them actually make a purchase when they get there? That’s where CRO helps. By increasing your page visitor’s likeliness to purchase, you can guard against unnecessary marketing bills.
4. The effects of social media
Social is a great marketing tool – it can increase your website visits, but it can also be hard to keep your potential customers’ attention span there. That means that you need to be able to capture and convert your customers as soon as you have their attention. CRO is all about differentiating yourself from the competition and telling a unique story – not just listing your product.
5. Shortening consumer attention span
Our online attention span is less than the attention span of a goldfish. What does this mean for an online retailer? If the average user cannot quickly find what they need; they will not stick around. Conversion rate optimization combats goldfish syndrome. Online retailers will increase the chances of getting shoppers attention with the right CRO strategy.
6. Legitimizes and streamlines your business
An online store that is continuously being optimized looks more legitimate than a business that has not. It builds a clear path from the landing page to making a purchase. It means displaying questions and answers about products, visible carts, easy searchability, intuitive categories, and an enticing reason to purchase right away. CRO means making the most of your listing upfront.
7. Saves you money
How could spending more money to get your website optimized actually save money? Most people find that a good CRO strategy allows them to spend less money on each customer. Maybe you are not necessarily saving money, but you are making more money.
8. Improves the results of other marketing efforts including your influencer campaigns
If you work with influencers, CRO can make your website more valuable to them. When a higher number of users who click-through to your webpage actually make a purchase, your influencers make more because you are making more. CRO is a win-win solution for you and your partners.
9. Improves the layout and look of your online store
Is your online store laid out so that it is easy to scan, easy to search, and easy to actually make a purchase? A website redesign may not be necessary for all online retailers, it can help some achieve more sales. Conversion rate optimization makes your page more user-friendly.
10. Changes improve your website’s intended purpose immediately
Unlike search engine optimization that can take months to show results, conversion rate optimization provides results right away. As soon as the changes are made and your website funnels users towards making a purchase, you will see a higher rate of users making purchases.
We are excited to be co-hosting the Rocky Mountain Summit for its 3rd year. #RMS2020 is just the place to learn more about CRO – it will be this year’s theme! Our speakers will be able to help you build your strategy and become a CRO expert for your business! Join us by purchasing your tickets here.