Getting Started With CRO or Conversion Rate Optimisation

The digital marketing industry is experiencing a paradigm shift with the introduction of complicated algorithms and artificial intelligence. Driving traffic is only half the battle. The real challenge lies in converting the traffic into loyal customers. 

CRO or conversion rate optimization, is the art of enhancing website performance to turn visitors into customers. If you are just starting out, this blog will walk you through the basics of conversion rate optimisation, helping you boost your website's potential and business growth. 

Additionally, enrolling in an MBA in Digital Marketing helps you master content strategy and Conversion Rate Optimization (CRO), which is essential for turning website visitors into customers. This program equips you with AI-driven skills to create, manage, and optimize digital campaigns, ensuring higher engagement, improved user experience, and better conversion outcomes.

What is CRO or Conversion Rate Optimisation?

CRO or Conversion Rate Optimization increases the percentage of users who take a desired action on a website or app. Desired actions (conversions) include purchases, adding items to a cart, or filling out a form.

It involves creating new ideas that improve site or app elements. To achieve this, these new ideas are tested through A/B testing to see which one suits the best. Ultimately, CRO boosts customer experience, which in turn increases conversion rate or CVR. The goal of CRO is to make it easier for users to complete actions.

Calculating CRO 

Calculating CRO or conversion rate optimization is pretty simple. The number is denoted by a percentage. You just need to find out how many visitors take a desired action (like making a purchase or signing up) and divide that by the total number of visitors, then multiply by 100. 
 

Formula:

Conversion Rate = (Number of Conversions / Total Visitors) × 100

Let us understand this with an example: Let’s say your website had 10,000 visitors in a month, and 500 of them made a purchase. 

Your conversion rate would be:

(500 / 10,000) × 100 = 5%

This means that 5% of your visitors are converting. 

A high CRO means increased revenue, however, it is not a one-and-done technique. It involves many different aspects such as website analytics, user experience, user research, trust building and many more. 

Also Read: Understanding Conversion Rate & Its Relevance as a Digital Marketing Metric

5 Conversion Rate Optimisation Strategies

Conversion rate optimization is an important metric in digital marketing as it tells you where your website lacks and where it excels. It is a great indicator of your website’s user experience and optimisation that helps you generate greater revenue for your business. 

Let us see the CRO or conversion rate strategies that will boost your business. 

1. Data Driven

Your website should be optimised according to available data. While it might be tempting to apply new ideas, you should always test them out first before launching. Moreover, make sure you collect quality data from reliable tools. 

Google Analytics provides excellent key performance indicators (KPIs) that can help you track conversion rates. These include bounce rates, cost per conversion, and exit pages. 

Bounce rates indicate when and where users are hitting the back button. A high bounce rate means that your website needs some modification. 

Conversion cost tells you if your paid marketing efforts are working or not. Lastly, exit pages refer to the last page the user sees before exiting your site. Analysing these metrics will help you craft data-driven strategies that drive conversions. 

2. Competitor Analysis

If you are unsure about how to start, competitor analysis will help you get an idea. By analysing what works for your competitors, you can get a basic idea of where to start. However, do not copy your competitors blindly. 

Moreover, competitor analysis helps you get an edge over the competition and craft unique ideas. Remember that every user conducts their research before making a purchase. Therefore, through competitor analysis, you can find out what is lacking in their website and include that in yours. This enhances your website performance and ultimately boosts CRO. 

3. Set a Conversion Goal

Let’s say you gather correct data and conduct competitor analysis. But without a set of clear goals, these metrics and ideas will not bear much fruit. 

S.M.A.R.T. is a great way to start setting goals. 
 

1. S: Specific; Your goals should be distinct and narrow, allowing effective planning.
2. M: Measurable; Your conversion goals should define a parameter for success. 
3. A: Attainable; Your goals should not be something unachievable. Set attainable goals.
4. R: Relevant; Your CRO strategy should be relevant to your long-term goals. 
5. T: Time-based; Set goals and achieve them within the set time. 

4. Optimise CTA

CTA or call to action are a great way to increase CRO. They urge the users to take action without pushing them. Use specific terms such as 'Inquire here' or 'Click here'. This urges users to do a specific action and therefore boost conversions. 

5. Utilise CRO Tools

Using conversion rate optimisation tools helps you to speed up the process and improve efficiency. These tools help you gather data and perform CRO audits as well. Here is a list of 10 CRO tools:

1. Google Analytics
2. Hubspot
3. Hotjar
4. Adobe Analytics
5. Optimizely
6. Crazy Egg
7. Heap
8. Hello Bar
9. Mix Panel 
10. Instapage
     

Utilise these tools for an immersive CRO strategy that drives sales. 

Conclusion 

CRO, or conversion rate optimization, therefore, drives conversion and helps your website or app perform better. By properly implementing these strategies, you can increase your digital marketing ROI. Remember that it is a continuous process, and staying updated on the changing trends and shifts is necessary. 

If you are interested in digital marketing, Amity Online University provides India's first UGC-approved online MBA program that will make you proficient in business administration and digital marketing. Enroll today and ensure your future.