CRO: Transform Your Business with Conversion Rate Optimization. Learn how to increase revenue & ROI!

Overview

Conversion Rate Optimization (CRO) is the process of improving the percentage of website visitors who take a desired action, such as making a purchase or filling out a form.

CRO is important because it can help businesses increase their revenue without increasing their traffic.

For example, if a website has a conversion rate of 2% and receives 1,000 visitors per month, that’s 20 conversions.

By increasing the conversion rate to 4%, the website would receive 40 conversions per month without any additional traffic.

This can have a significant impact on a business’s bottom line.

Two well-known global brands that have used CRO to grow their business are Amazon and Airbnb.

Amazon increased their revenue by $1.2 billion by making one small change to their checkout button.

They changed the button from “register” to “continue” and saw a 45% increase in conversions.

Airbnb increased their revenue by $30 million by testing different headlines and images on their website.

By making these changes, they saw a 20% increase in bookings.

How to

The process of CRO involves several roles and responsibilities:

Analyst: Analyzes website data to identify areas for improvement.
Designer: Creates new designs or variations of existing designs to test.
Developer: Implements the changes on the website.
Copywriter: Writes new copy or variations of existing copy to test.
Project Manager: Oversees the entire process and ensures that deadlines are met.

The process of CRO involves several steps:

Research: Analyze website data to identify areas for improvement.
Hypothesis: Formulate a hypothesis about what changes will improve conversion rates.
Design: Create new designs or variations of existing designs to test.
Development: Implement the changes on the website.
Testing: Test the new designs or variations against the original design.
Analysis: Analyze the results of the test to determine if the changes had a positive impact on conversion rates.
Implementation: Implement the changes on the website if they had a positive impact on conversion rates.

Best Practices

Start with the highest-impact changes first.
Test one change at a time to isolate the impact of each change.
Use A/B testing to compare the performance of different designs or variations.
Use heat maps and click tracking to identify areas of the website that are not being clicked on.
Continuously monitor and analyze website data to identify new areas for improvement.
Involve all stakeholders in the process, including designers, developers, copywriters, and project managers.

Examples

Here are two potential examples of how small businesses can use CRO:

Example 1: A small e-commerce store wants to increase their conversion rate. They analyze their website data and notice that their checkout process is confusing and leads to a lot of abandoned carts. They formulate a hypothesis that simplifying the checkout process will increase conversions. They create a new, simplified checkout process and test it against the original checkout process using A/B testing. They find that the new checkout process results in a 25% increase in conversions and implement the change on their website.
Example 2: A small law firm wants to increase the number of leads they receive through their website. They analyze their website data and notice that their contact form is not being used very often. They formulate a hypothesis that making the contact form more prominent on their website will increase leads. They create a new design that prominently features the contact form and test it against the original design using A/B testing. They find that the new design results in a 50% increase in leads and implement the change on their website.