Why is conversion rate optimization importantAnkit Sancheti
Before we get to know about why CRO is important, we will first learn what is CRO.
CRO means CONVERSION RATE OPTIMIZATION. CRO is basically finding why visitors aren’t converting and trying to fix the same.
Here are 5 important points of having a CRO strategy in your marketing strategy.
It is almost free
CRO takes care of the traffic you already have. This means no additional investment is made on getting new visitors into your site. It is just getting things better by converting the existing visitors. Converting your existing visitors is much more cost-effective than attracting new visitors.
It lowers the CAC (Customer Acquisition Cost).
The fact that your conversion rate is doubled means bringing down your CAC by almost 50%.
It helps maximize profit.
As your profits are tied to the rate of conversions made, and since you aren't spending huge money on attracting new visitors, this helps you in maximizing profits.
Additionally, It also gives you a good return on investment if correctly implemented.
Reduce bounce and exit rates
Since you are working on increasing the conversions, this also means that you will automatically reduce the Bounce and exit rates.
Whether you are optimizing your e-commerce website or trying to get signups for your email campaigns. The trick is to execute the strategy well and keep improving.