Conversion Rate Optimization or CRO is a top pursuit for marketers everywhere. But, what exactly is CRO Marketing and why is it important?
In today’s whiteboard video, I share with you what CRO marketing is and 5 steps for your CRO marketing strategy that will help you increase conversions.
To learn more about conversion rate optimization, download your free guide here:
00:16 CRO MARKETING DEFINED
– The systematic process of increasing the % of visitors to your site who take the desired action.
00:38 WHY INVEST IN CRO?
– Producing online traffic via social media, SEO, and paid search is an investment but those efforts are going to waste if your site isn’t converting visitors to leads or customers.
01:20 WHAT IS THE CRO PROCESS
– Similar to the scientific process — making observations and predictions, conducting tests, examining the results, and revising your approach accordingly.
01:50 STEP 1: PRELIMINARY RESEARCH
– Establish KPI’s – decide which online actions are significant to you.
– Requires understanding of your personas, industry, and the individual goals of your company
– Some goals may be less obvious and can be tiered into “micro-conversions”
– Use KPI’s to calculate: Conversion rate = total number of conversions / total number of site sessions
02:48 STEP 2: HYPOTHESIS
– Develop testable hypotheses to focus on potential CRO techniques on.
– Must be sufficiently specific and suggest a change that can realistically be implemented and measured for effectiveness.
04:27 STEP 3: PUT IT TO THE TEST
1. Isolate your variables.
– Split or A/B tests: Focus on a single variable, and randomly present one of two versions to site visitors.
– Multivariate testing: More than one change can be tested at a time, require greater traffic to run.
2. Set your significance level, sample size, and test duration
06:40 STEP 4: ANALYZE THE RESULTS
– Were my hypotheses proven correct? If not – A failed test is as valuable of a learning experience as a successful one. Now you know what doesn’t work.
08:07 STEP 5: REVISE, RINSE, REPEAT
– Revision may cycle directly to step 2 or return to step 1 for a re-examination of KPI’s, greater research into customer segments, revision of company goals.
As is the scientific process, CRO is continuous.
By: Campaign Creators
Title: What is CRO Marketing?
Sourced From: www.youtube.com/watch?v=k1_783JgaZI
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