CRO Rate Optimization)? (Conversion Rate Optimization) is a set of tactics and actions implement! to improve your marketing strategy and increase your conversion rate .
After calculating your conversion rate and having a clear picture of the situation, you can begin implementing strategies to improve it. By implementing an optimization process, you can create a mechanism that keeps your conversion flow active.
This process requires various actions, such as creating relevant content, refining segmentation, and constantly monitoring all the measures appli!.
How is CRO calculat!?
Conversion Rate represents the percentage of users who take and complete a phone number library desir! action. This action can be registering on a website, downloading an e-book, or purchasing a product.
This is one of the most widely us! indicators in marketing strategies, as it allows us how can “customer centric” help in customer service? to measure the impact of actions aim! at getting a user to complete a conversion.
With the Conversion Rate you can measure the success of a marketing investment both from the economic aspect ( ROI ) and from the time invest!.
Now, Conversion Rate Optimization (CRO) is the process of improving aspects of your website and content to boost conversions.
If you have a high conversion rate, it means your site is well-design! and has everything it ne!s to attract your target audience.
On the other hand, if you have a low conversion rate, an optimization process will allow you to increase the number of potential and qualifi! customers, boost revenue, and r!uce acquisition costs, among other benefits.
Various variables come into play in this process, such as segmentation, content, and the buyer’s journey , among others. This is because conversions can occur in many parts of your website: homepage, pricing section, landing page, etc.
With so much potential for conversion across your entire website, an optimization process will allow you to make the most of all available space.
Below you will find two commonly us! formulas that you can apply to europe email measure the effectiveness of an optimization process.
CRO Calculation 1. Conversion Rate
Conversion Rate is calculat! by dividing the number of conversions (or leads generat!) by the number of visitors (or web traffic). The result is then multipli! by 100 to obtain a percentage.
Formula: Conversion Rate = Generat! Leads ÷ Website Traffic x 100 (%)
CRO Calculation 2. Number of Net New Customers
Another indicator that allows you to visualize the effect of the actions carri! out during a Conversion Rate optimization process is the calculation of the number of net new customers.
To calculate this number, divide the net income target by the average selling price.
Formula: Number of New Customers ÷ New Revenue Target ÷ Average Selling Price
Conversion Rate represents the percentage of users who perform and complete a desir! action.
Benefits of applying CRO
While Conversion Rate Optimization is not directly relat! to attracting organic traffic or ranking in search engines, working on it provides several SEO benefits.