Each year, Econsultancy releases a new report into the different types of conversion strategies and how processes can be used to boost conversion rates. According to the most recent report, a staggering 63% of companies don’t have a structured approach to conversion rate optimisation (CRO). This means two thirds of businesses could be missing out on valuable leads and customers every day.
But what exactly is a structured approach? And how can you ensure your business is approaching CRO correctly? Keep reading as we delve into the complex world of CRO…
What is conversion rate optimisation?
First things first, we can’t begin to understand the importance of a structured approach without knowing exactly what CRO is. Simply put, conversion rate optimisation focuses on taking site visitors and transforming them into paying customers.
When done well, CRO will boost your sales, with more customer conversions taking place. A well-structured conversion plan can also make your business more sustainable, making the most of the traffic you have rather than trying to gain a bigger share of a finite audience. For more information about CRO, check out our Beginner’s Guide to CRO.
Is structure important?
If you take a look back at some of Econsultancy’s previous reports, you might notice a running theme – namely, the importance of structure. Many CRO experts believe that a structured conversion plan is the key to success. Without a clear plan, marketers often find that they lack support, and the necessary investments, from those at the top.
One key aspect of a structured approach to CRO is having a set of relevant metrics, consistent with your business goals as a whole. Metrics are essentially a quantifiable measure, used to track and assess the status of the business.
Despite this, 41% of companies surveyed admitted to not having clearly defined metrics for their optimisation strategy. A further 29% said that their metrics aren’t in line with those employed by the wider business.
According to Jessica Hayes, head of customer optimisation at The Guardian, this is a big business concern. She argues that a misalignment of metrics and strategies across the business could lead to confusion about the priorities of the company in different departments.
Structuring your CRO
The importance of structured CRO is clear, but how do you implement that structure? Before any plan can be structured, you need to be aware of what changes are needed and why. That’s where A/B testing comes in. Using data gathered from your site, you can focus tests on the specific areas that you want to work on, whether it’s your homepage or checkout.
An A/B test will discover which version of your site generates the most conversions. So, you can optimise your site with the intention of encouraging more visitors to make a purchase and boost your sales in the long run.
CRO with Fluid Digital
A/B testing identifies key focal areas for your website and customer journey. It’s at the very core of structured CRO. With that in mind, it isn’t something you want to take on alone.
At Fluid Digital, we offer comprehensive conversion rate optimisation packages, tailored to the specific needs of your company. Whether you simply want a basic CRO audit, or a complete growth package, we have the knowledge and expertise to implement the right strategy and transform your business.
If you’re ready to start your CRO journey, feel free to contact our team today.
