What is conversion rate optimization (CRO)?

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Conversion rate optimization (CRO) is the process of improving your website and content in order to increase conversions or the percentage of users who complete a desired action.

Let’s say your website is generating great traffic but you’re not getting a lot of sales. Looking to improve your CRO is what you should focus on to get potential customers to make purchases.

You can calculate your conversion rate percentage by dividing your total conversions by your total website visitors, and multiply that by 100.

The formula looks like:

CR (%) = (Conversions/total website visitors)*100

So how does it work? Conversion rate optimization looks at optimizing your content and storefront to increase the amount of conversions your business receives.

It’s less about bringing more traffic to your website but instead setting your website up in a way to encourage specific customer behaviour (like making more purchases).

As you’d expect, CRO can improve average order value (AOV), lifetime value (LTV) as well as your monthly recurring revenue (MRR).

From a high level, a lot of conversion rate optimization is about understanding your current customer behavior.

You want to learn the answer to questions like…

– Where do they linger longest?
– At what point do they leave?
– What kind of device are they using?

You can leverage all of this data, paired with A/B testing, to find the best setup for your ecommerce store and boost your conversion rate.

So here’s the recap:

– Conversion rate optimization is optimizing your website for increased conversions
– Understanding your customer behaviour is key
– Collect data from your customers and then test changes to see what performs best

If you’ve got a great product and great marketing but not sure why your customers aren’t converting, diving into CRO may be exactly what you need!

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By: Recharge
Title: What is conversion rate optimization (CRO)?
Sourced From: www.youtube.com/watch?v=Z6uhLi2fdSM

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