What is Conversion Rate Optimisation (CRO)?

Before we go any further, we will firstly explain what a conversion actually is and how to work our a conversion rate.

What is a conversion rate?

The conversion rate is the relationship between visits on a website to conversions A conversion is when a user takes a desired action on website or application. For example, a conversion for a ecommerce store could be a user purchasing a product or a B2B services company may have a conversion that is a form fill. A quick formula to remember how the conversion rate is calculated can be shown below.

Conversion Rate = (No. of Conversions x 100) / (Number of Visitors)

To gain a more accurate calculation of the conversion rate, you can replace ‘Visitors’ within the formula with ‘Unique Visitors’. By doing this, you will ensure that each visit from each individual visitor is counted instead of counting individuals who may have visited multiple times.

Conversion Rate = (No of Conversions x 100) / (Number of Unique Visitors)

What is Conversion rate optimisation?

Conversion rate optimization is a strategic digital marketing activity that attempts to analyse and Improve the conversion rate across a website. As not all websites are the same, there is no ‘one size fits all’ approach to optimising a conversion rate. Whether it be optimising site navigation, information infrastructure or performance, brands must analyse all aspects of their digital platforms to truly increase conversion rate. Observing and identifying key areas of improvement will allow brands to focus their efforts at various stages of the buying journey and thus improve total Conversions across their site.

Why is CRO important?

Making a first Impression just like in the real world has the utmost importance in being able to successfully convert a user to a customer. A bad first impression can leave a sour taste in the mouth from consumers and potentially project a negative outlook for you brand. With the digital landscape constantly changing and consumer journeys being enhanced with an increasing number of touch points, it can be difficult to stay ahead of the curve. Brands must ensure that they regularly re-optimise their site using a iterative approach, which allows them to make small incremental changes and measure the effect accordingly. Doing so will allow them to have an optimised experience across all channel and customer touch points.