However, before you implement a CRO strategy, you need to understand exactly what it is, how it works, and how to evaluate it.
True CRO involves a lot of testing, so you need to be in it for the long haul.
Don’t let this scare you off, though. Committing brazil phone number library to CRO can make your business more profitable and your marketing strategy more scalable.
Plus, once you start this process, you may find that you can’t stop. It’s very engaging because you can watch your metrics steadily improve over time.
In addition to giving you a primer on the benefits of conversion rate optimization, we’ll also share with you 11 advantages that can help your business succeed.
What does conversion rate mean?
Conversion rate is the percentage of they work with their own systems, frameworks, order, and logic potential customers who take the desired action out of the total number of consumers who interact with your product/service.
For example, you put up a sign that says “Try our new cupcakes! 10% off!” (that’s your offer). Throughout the day, 100 people pass by your display (those are your interactions). Of those 100 people, 15 decide to buy cupcakes (those are your conversions).
Conversion rate is the percentage of people who decide to buy your cupcakes out of total interactions.
In this context, you can calculate conversion rates for many things:
- Sale
- Email Signup
- Polls and Survey Participants
- Webinar Registration
Of course, sales are the most important resource data metric to track, but conversion rates for actions like email signups, email open rates , and webinar registrations can help you quantify your lead generation results.
Calculating conversion rate is simple. Let’s say you want to know your average sales conversion rate.
Divide your total sales by your total website visits, then multiply the result by 100.
You can do the same thing for any other conversion rate. Just replace Total Transactions with total email signups, total webinar attendees, or any other metric. You can also replace Total Site Visits with total page views for a given webpage.
You may also like :
- 12 Lead Generation Strategies That Will Drastically Increase Your Conversion Rates
- Data Driven? How to Calculate Lead Conversion Rate