Conversion Rate Optimization (CRO)
When it comes to Ecommerce, Conversion Rate Optimization (CRO) should be the ultimate action you are working towards to help improve the customer experience. It's all about fine-tuning the experience to ensure that visitors take the actions you want them to take, whether it's making a purchase, filling out a form, or subscribing to your newsletter, or anything else you might hope & dream of. This will help not only improve Website Conversion Rate % but also reduce CAC (Customer Acquisition Cost) and increase LTV (Lifetime Value).
Well, yeah! That sounds cool…but how will we do such a grand task?
Setting the Benchmark: We’ll tart by calculating your current Conversion Rate percentage (CR%). This simple formula—(Number of Conversions / Number of visitors) x 100—gives us a baseline to measure your progress against.
Mapping the Funnel: We’ll visualize the customer journey from landing on your site to completing a conversion. We’ll identify the points where visitors drop off and focus our efforts on optimizing those areas.
Data, Data, Data: Let’s dive into your analytics to understand where your traffic is coming from and why visitors are bouncing. Tools like heatmaps can give us valuable insights into how visitors are interacting with your site at each step of the journey.
Crafting Hypotheses: Based on your data, now we’ll come up with hypotheses to test. Is your value proposition strong enough? Are there friction points in the conversion process? Are you telling the right story to your audience?
A/B Testing: We’ll test your hypotheses by creating variations of your website or landing pages and comparing their performance against the control, or original. This will help us identify what changes lead to better conversion rates.
Iterate and Improve: We’ll continuously review the results and make iterative improvements to the website. This could involve tweaking your messaging, redesigning your layout, or optimizing your calls to action.
We’ll leverage CRO by using data and experimentation to improve your website's performance as well as the various ways traffic is coming in. By taking a systematic approach and focusing on the customer experience, we can work together to make significant gains in your conversion rates and ultimately, your bottom line!