Companies have been relying on traditional marketing tactics such as SEO and Social media ads to increase their online presence and generate new customers. However, over the past several years, marketers have begun to focus more on optimizing their conversion rate. This involves crafting sales and marketing materials to capture the attention of prospective customers who are most likely to purchase as well as creating an unparalleled experience on your website. One of the most effective ways to do this is through conversion rate optimization (CRO).
Through CRO, you can increase the conversion rate of your website by testing different copies of your website, pages, content, and call-to-action buttons. You can also increase the conversion rate of your email marketing by testing different subject lines.
Conversion rate optimization, or CRO, is the top objective for online store owners. Increasing conversion rates has a major impact on your ecommerce business profitability, so the benefits of conversion rate optimization are enormous.
A high conversion rate is important if you are looking to grow your online store in a sustainable way without spending more money on paid advertising. As a result, it can significantly lower your CAC (customer acquisition costs) and increase your profits margins.
However, CRO benefits don't end there. The sole purpose of conversion optimization is NOT just to sell more, but to make sure your potential customers feel good about shopping with you. It's about making their shopping experience fun, effective, and exciting...so they come back for more!
Below you will find the most important conversion rate optimization benefits that can help your online store succeed.
7 important benefits of conversion rate optimization
1. Understand your customers
One of the most important benefits of conversion rate optimization is that it can help you understand your customers better. You can test various content copies, layouts, designs, buttons, other web elements and features. CRO will help you identify which elements resonate the most with your target audience.
You can use this knowledge to pinpoint the most effective marketing strategies to grow your customer base and generate more sales.
Conversion rate optimization helps you learn more about your customers, what they want and need, what kind of difficulties they experience with your site and your products, and what they really like. You can use heatmaps, surveys, and a/b tests that are key CRO activities. The results of the tests will help you figure out what makes your potential customers tick.
2. Increase the efficacy of your Facebook
One of the most effective ways to increase the efficacy of your Facebook ads is through conversion optimization. However, unlike traditional marketing channels such as SEO and social media ads, Facebook ads are designed to drive a single action. That means that it’s crucial for you to optimize your ads for conversions in order to increase your ad revenue. By testing different ad copy, images, and targeting options, you can optimize your Facebook ads to increase the number of conversions they generate. And this is where CRO comes in!
The CRO activities you conduct on your website can be easily extrapolated to your advertising. Once you figured out what your unique audience likes, you can expand this knowledge into ads. It will allow you to drive more quality traffic that converts even better!
3. Make more money from existing web traffic
As online store owners, we know that by increasing your online store’s reach and exposure, you can increase your online sales. However, with the cost of online advertising increasing each year, it’s crucial to find ways to increase your profits with your existing traffic.
Unlike traditional marketing methods, which are expensive and difficult to track, conversion rate optimization does not require a large financial investment. In fact, it can help increase profits without increasing advertising costs. This is why CRO is such an important objective for online store owners.
Growing your conversion rate by just 30%, can potentially double your earnings! And the best part, CRO changes are evergreen.
4. Lower your customer acquisition costs
CRO can actually lower your CAC. This is because you are capturing more of your potential customers who are most likely to purchase. As a result, you are able to sell more and generate higher profits.
5. Boost your Google search ranking
Current studies suggest that one of the most important factors defining the success of a store is the quality of the user experience which is a core of Conversion rate optimization. Google’s web crawlers are designated to find the key content and functionality of your online store and run it through Google’s ranking algorithms. This algorithm determines your store's position in search results.
You will be surprised, but a well-designed and intuitive store with a top-notch user experience can have a larger impact on your store's ranking than the quantity of content on your website or the number of backlinks. This is because a good user experience enhances a website’s core web vitals, which are the various components of a website that are measured by Google’s web crawlers.
6. Remove the guesswork from your website updates
When you’re making design decisions, CRO helps you learn more about your audience, allowing you to make better decisions and create better experiences. For example, if you find that visitors are abandoning their shopping cart on your website, you’ll be able to use CRO to determine why this is happening and make changes to your website to address the issue. This way, you can make design decisions based on facts rather than assumptions.
7. Make more money from paid ads
CRO has a positive impact on the efficacy of your digital advertising. As you gather more information about your audience, you’re able to make better design decisions and create better experiences for your users. This means that you can increase the value of the ads that you run and make every marketing dollar count.
Why conversion rate optimization is so important?
Conversion rate optimization (CRO) should be a part of every digital marketing activity, not just the first step. The main goal of the CRO process is to increase your conversion rate, the number of times people convert from one action on your website to another.
Conversion rate optimization results in increased profits, less time spent on marketing, lower costs, and better product creation. CRO is important for online store owners who want to increase profits. The benefits of CRO are many - from improving the efficiency of your digital marketing campaigns to creating an unparalleled shopping experience and increasing your profit. You can also reduce the amount of time it takes to bring in new customers. However, the most important benefit of CRO is that it works.
Need CRO help? Hire a CRO professional today!