WHAT IS CRO (CONVERSION RATE OPTIMIZATION)?

What is Conversion Rate Optimization?

Conversion Rate Optimization (CRO) is the process of fine-tuning a website to improve the rate at which traffic coming to a webpage is successfully guided to follow through with an action (or conversion). These conversions can include everything from filling out a form to making a purchase. 

If a website is giving its’ visitors the same answers to their question that would come from the experience of walking into an office, location, or store, then it opens up an opportunity to convert more of its traffic into leads and ultimately, customers. This can be accomplished through conversion rate optimization.  

Every aspect of a website should be optimized to:

1. Show the value of a business
2. Build trust in a business’ capabilities
3. Equip visitors with the content, products and/or services that will address their wants and needs. 

In short, a well-designed website should be a representation of your brand and serve as a productive sales representative in itself.

Understanding CRO Strategies: A Deep Dive

A Conversion Rate Optimization (CRO) strategy is a crucial aspect of digital marketing geared towards increasing the percentage of visitors to a website who convert into customers. Although the specifics can differ from one organization to another, most CRO strategies share common fundamental steps for effective implementation.

Key Steps in a CRO Strategy

1. Identifying Key Performance Indicators (KPIs) and Target Audiences

   • The first step involves pinpointing the metrics that matter most to your business and understanding who your potential customers are. This tailored approach ensures that the strategies developed are focused and effective.
     
     
     

2. Data Collection and User Feedback

   • Gathering data is crucial, which includes collecting user feedback through surveys, usability tests, and analyzing user behavior on the site. This step is vital as it lays the groundwork for informed decision-making regarding what elements to test and enhance.
     
     
     

3. Implementation of A/B Testing
   

   • With insights in hand, the next phase is A/B testing. This involves creating two versions of a page (A and B) and comparing them to see which one performs better in terms of conversions. This testing can extend to various elements of your website— from call-to-action buttons to images and headlines.
     
     

Conclusion

In summary, a robust CRO strategy involves a detailed assessment of who the customers are, understanding their interactions on your site, and using data-driven insights to make continual improvements. Through methodical testing and optimization, the goal is to enhance user experience and increase the efficiency of the site in converting visitors to paying customers.

How can the PIE framework help in getting started with conversion rate optimization projects?

The PIE framework is an invaluable tool for initiating conversion rate optimization (CRO) projects effectively. It stands for Potential, Importance, and Ease — three critical factors to consider when prioritizing different elements of a CRO strategy. Here’s how the PIE framework aids in streamlining the project initiation process:

Systematic Prioritization

• Assess Potential: Evaluate each project component for its potential impact on overall performance improvements.
• Determine Importance: Gauge the importance of each element in terms of its contributions to your business objectives.
• Measure Ease: Estimate the ease or complexity of implementing each component successfully.
  
  

Strategic Implementation

With the PIE framework, you begin by scoring each aspect of your CRO project according to these three criteria. This facilitates a quantifiable approach where you calculate the total scores to determine the priority order of initiatives. Projects with higher total scores should be tackled first because they are likely to have the greatest impact on your conversion rates.

Enhances Collaboration

Implementing the PIE framework also enhances collaboration among team members. It provides a clear and structured method for discussing and assessing the potential benefits and challenges of each project. By focusing on the highest-scoring projects, you encourage teamwork and ensure that everyone is aligned on the most impactful tasks.

Using the PIE framework, therefore, not only simplifies the process of getting started on CRO projects but also ensures that efforts are directed towards the most beneficial areas. This methodical approach is key in maximizing efficiency and achieving better results in your optimization endeavors.

How should marketers approach A/B testing to understand visitors' behaviors better?

To gain a more nuanced understanding of visitor behavior through A/B testing, it's crucial to integrate both qualitative and quantitative data. Marketers should consider conducting user testing sessions to delve into how visitors perceive and interact with different elements of a website. Exploring the reasons behind visitors' decisions to either convert or abandon the site can also provide valuable insights. This holistic approach not just quantifies what variations perform better but also explains why certain elements resonate more effectively with audiences.

GETTING STARTED WITH CRO

Understanding your customers is the cornerstone of effective Conversion Rate Optimization (CRO). In order to achieve more successful conversions, your website must reflect a deep understanding of its customer base, ensuring that the traffic coming to your website generates more qualified leads who are more likely to convert into customers. Here’s how you can deepen your understanding and optimize your follow-up actions:

A. Know Your Customers

The first step involves extensive research which can be approached in two ways:

Quantitative Analysis: This involves collecting definitive data on how each user interacts with your website through analytics tools. Such data reveals the sources of your traffic, guiding you to either focus more on these channels or to identify similar channels for expansion. It also helps pinpoint where potential customers drop off during their journey on your site. For instance, if a visitor interested in tax services leaves after failing to download an ebook due to a broken link, analytics will highlight this issue. Addressing such gaps can significantly enhance conversion rates. Additionally, this data provides insights into user engagement with various elements of your site, such as blog readership patterns.

Qualitative Analysis: This method is more subjective, focusing on understanding the reasons behind user behaviors and decisions. It involves observing how new visitors navigate your site and respond to content. Emotional connections, often established through personal stories and customer reviews, play a crucial role here. Paying attention to common themes in feedback and what users find helpful can guide you in emphasizing certain aspects on your website.

B. Implement Targeted CRO Strategies

Once you have a solid understanding of your customer base, the next steps involve specific CRO strategies:

1. Initiate the CRO Conversation: Use established formulas to start discussions around optimization within your team. This sets a foundation for targeted strategies tailored to your findings from the customer analysis.
   
   
2. Experiment with CRO Approaches: Test different strategies to see what works best for your specific audience and business model. This could involve A/B testing different website layouts or trialing various call-to-action phrases to determine which yields better conversion rates.
   
   
3. Apply the PIE Framework: Prioritize your strategies using the PIE (Potential, Importance, Ease) framework. This helps in allocating resources effectively by focusing on changes that are likely to offer the highest return on investment based on potential improvement, importance to your overall business goals, and ease of implementation.
   
   

By integrating these focused CRO strategies with a deep understanding of your customers, you can significantly enhance the effectiveness of your website in converting visitors into loyal customers.

C. Things to Consider When Optimizing Your Website

Collecting quantitative and qualitative data can definitely help to paint a much clearer picture of the changes that need to be made to guide site visitors through various conversions. In addition to the data obtained from this research, you should also consider the following website elements and make adjustments where needed to further optimize your website for conversions.

Homepage
The homepage is the face of a business. It should have a clear and concise navigation menu so that visitors can quickly move through the website to further accomplish their goals.  Visitors are more likely to leave if they have trouble finding what they are looking for right away. Right away, meaning the first 3-6 seconds. 

The homepage should also display new offerings as well as the most popular products and services to help boost sales.  Help should also be easily visible. This can include everything from a chatbox to points of contact for further inquiries and additional information.

Videos
Every video should build trust in the capabilities of your business. Praise for the business should not come from the mouth of the business owner or their employees, but the mouths of customers and third-party reviewers. Visitors want to see their own concerns and questions answered and addressed by people with the same interests and level of investment.  Video reviews and testimonials are great for this!

Videos are also a great way to provide visuals with explanations as well as demonstrations. Videos can show evidence of how effective the product or service is in action. HubSpot cites videos as a preferred medium of information by most people while navigating websites.  For example, videos placed on landing pages can help conversions increase by 86%. Top sellers, which often generate traffic on their own through word-of-mouth, should definitely have videos.

Blogs
Blogs are another way to build trust—trust that a business understands its’ industry and the needs of its’ customers. It’s a good idea to showcase your industry knowledge in your blog. It helps build trust and website authority. Visitors often stumble across business blogs while searching for solutions to a problem, building their own understanding, and/or weighing their options.

Linking to related blogs can keep visitors reading. This will help assure the visitor that the business running this website is a trusted authority on this subject, making them more likely to exchange their contact information for exclusive hints, tips, and tricks. Call-to-actions (CTAs) on a blog, particularly text ones (as in words on a button) can link to a related offer or blog, to further educate visitors and help convert these visitors into a lead with the promise of providing more useful information. According to HubSpot, many people have learned to ignore banners, but CTAs can improve conversion rates between 25-45%.

Landing Pages
Landing pages are where a website can host a special offer. In order to optimize this offer, the landing page should entice visitors to the level where the visitor will feel they are missing out if they don’t acquire it.

When looking at specific ways to optimize your landing pages consider adding a short video preview, customer testimonials, third-party reviews, or an overview of topics covered. These easy to add items are just a few of the things that can help encourage visitors to become leads. When you don’t know where to start, consider highlighting your CTAs. Sometimes simple color changes can make a huge difference.

Pricing 
Prices alone next to a product or service can leave a lot of unanswered questions hanging in the air. It can also deter visitors if the price is too high or too low vs. others in the industry without explanation.

To remedy pricing concerns, carefully explain the benefits and features of each product or service, as well as each component that goes into the pricing in a short and concise way. Bullet points work well to get the information across quickly and easily.  Customer testimonials and reviews can also be used here to address pain points. This valuable information can sway visitors who are on the fence. 

Testing
Once viable pathways to conversion have become more apparent, testing should also be implemented to confirm their success. A/B testing allows websites to run different versions of the same web page simultaneously. This is great for troubleshooting why a planned conversion path is not being as successful as you thought. 

For example, the length of a form may be deterring people from filling it out, but that won’t be confirmed until visitors are led to two versions of the same page, one with the long form and one with the shorter form. Web analytics, tracking tools, and conversion rates can determine which form is more successful. Steady testing and website improvements can help every business website meet and exceed their revenue goals, which is what conversion rate optimization is all about.

D. Tools to Track & Measure Conversion Rate

There are several different tools that can be used to measure and track conversion rates.  Findings from each can be used to see where people are falling off the conversion path. It can help identify problem areas and provide opportunities for improvement.

HubSpot
HubSpot will calculate your conversion rates for you. You can gather this information about your CTAs, blogs, landing pages, etc. The software has the ability to test how successful a change to a web page element would be versus the original page.  It also provides businesses with the tools to build campaigns crucial to laying out and tracking conversion paths.

Google Analytics
Google Analytics can be used to see where users are visiting the website from and what pages are most frequently exited, which will help with determining where qualified traffic is coming from. It can also tell you things like which devices and browsers were used and also the searches that brought them to your site.

Hotjar 
Hotjar’s heatmaps allow for visualization of user clicks, taps, form completion, and even scrolling speed. This helps give you an inside look at user flow. For example, many people may be visiting a page, but scrolling quickly to look for something specific. If they do not find it due to a lack of header, they may exit the page quickly. Screen recording will also allow for the visualization of user interactions with the site, which may point out things with usability issues. 

SLOW & STEADY WINS THE RACE

There is no one-size-fits-all approach to website design, especially in the case of optimizing it to increase the conversion rate.  If you want to increase your conversion rate optimization, you have to continually improve your website. What works best to increase CRO and ROI is growth-driven design. Steady testing and website improvements can help every business website meet and exceed their revenue goals, which is what conversion rate optimization is all about.