CRO – The true money making hack

Google Says (Snippet from Optimizely): Conversion rate optimization (CRO) is the process of increasing the percentage of conversions from a website or mobile app.

ChatGPT Says: This refers to the process of optimising a website or landing page to increase the percentage of visitors who take a desired action, such as making a purchase, filling out a form, or signing up for a newsletter.

My take: First, CRO is not limited to just websites or mobile apps alone. Everything marketing should be optimised for better conversion rates.

An analysis by HubSpot found that personalized CTAs (calls-to-action) convert 202% better than basic, non-personalized CTAs.

Now that we have seen what CRO is, let’s look at:

Why CRO 

it’s not rocket science to understand this “If you want the best ROI for your marketing spend, CRO can do it”

Let’s look at it in numbers:

For an example: Let’s say the average order value of your product is 1000..

You have 10000 visitors coming to your website

@ 3% Conversion Rate you will make 300000

@ 1% Conversion Rate you will make 30000

@ 0% Conversion Rate you will make 0

You can choose between making a lot of money or zero and that’s how important CRO is.

How & Where to start CRO?

https://research.aimultiple.com/cro-stats/

In general it is believed that CRO should start after launching a campaign. The best approach is to start while planning for a campaign. 

CRO Tools:

Start with google analytics

What properties should be optimised for conversion rates?

1. Websites
2. Mobile Apps
3. Newsletters
4. Google Ads
5. Facebook/Instagram Page
6. LinkedIn Page 
7. YouTube 

What marketing channels should be optimised for conversion rates?

1. Social Media Marketing
2. Blog Page Optimisation
3. Content Marketing
4. Video Marketing
5. Search Engine Optimization (SEO)
6. Influencer Marketing
7. Pay Per Click (PPC) Advertising
8. Display Advertising
9. Podcast Marketing

A/B Testing:

Don’t get surprised that A/B testing is an age old methodology widely used by businesses. In its simplest form, A/B testing is a means to compare two versions of anything to see which works better.

In research conducted for marketers, 58% of them said they are already doing A/B Testing and 35% have said they are planning to do so. A/B testing is the most common methodology used to optimize the conversion rates.

According to a report by Adobe, companies that use A/B testing for CRO see an average conversion rate improvement of 49%.

CRO Tools:

• VMO – A/B Testing Tool
• Hotjar – 
• Zoho PageSense – 
• Optimizely – 
• Adobe Analytics – 
• SmartLook –