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insight / 2 months ago

How to increase the conversion rate of your website.

How to make more money without upping your advertising budget...


Author.

Vic Dadson

[Content Executive]

Published.

30/10/2017 @ 07:51am

According to a recent report from eConsultancy, only 28% of marketers are happy with the conversion rate of their website.

For many businesses, their website is their main sales tool. It’s where they send potential customers to find out more about their business, to make enquiries and to buy products. It’s an essential tool, but for many businesses, it just isn’t delivering as well as they’d like it to.

That’s where CRO can help.

Conversion rate optimisation is a specialised field within digital marketing that seeks to identify potential distraction and disruptions that could be preventing users from converting on your website. Through a process of data analysis, expertly-deduced hypotheses, carefully planned testing, and an effective overarching strategy from Web and Digital Marketing experts, CRO can be the difference between getting a substantial return on investment and flushing your advertising budget down the drain.

Put simply, CRO revolves around converting more of the traffic you already have, rather than spending money trying to acquire more.

Why is conversion rate optimisation important?

Basically, it will always be cheaper to convert more of your existing traffic than it will be to attract more.

Attracting more traffic is great, but chances are it will be costly. You could increase your PPC budget, run some more paid adverts on social platforms or run a large scale marketing campaign to boost awareness of your brand. Done well (which we can help with), that’s a whole new pool of people accessing your site, but using considerably more budget than you’re likely already spending.

“For every £92 spent acquiring customers, only £1 is spent converting them.” eConsultancy, 2016

The alternative is to look at your website to see how you could convert more of your existing traffic, without pouring more money into advertising. Even the smallest of changes in your conversion rate can yield big results.

Graphic showing the impact an increase in conversion rate can have on ROI

Take the graph above as an example. At a 4% conversion rate, this site is making £20k on revenue from £10k spend, providing 100% ROI. Say you conduct some tests across different areas of your site and manage to increase your conversion rate by 1%. That’s only a small figure, bringing your average conversion rate to 5%, but that’s an additional 510 conversions and another £5k in revenue, without upping your advertising budget.

So how does CRO work?

There are many different tricks and techniques that can be used to increase the conversion rate of a website, each with its own benefits. EConsultancy’s recent report into CRO measured usage of fourteen different techniques to improve conversion rates, as shown in the below graph.

Usage rates of conversion rate optimisation techniques

Typically, the most successful CRO approaches will use a combination of these methods to varying degrees in order to achieve optimum results. Many businesses may be undertaking some of these activities without realising that they are actually conducting CRO, as it’s estimated that only 37% of companies have a structured approach to optimising their conversion rates. Unsurprisingly, however, those businesses that are performing well are more than three times as likely to have a proper CRO strategy in place.

At Clicky, our CRO Specialists work closely with our Web Development team, Marketing experts, and Strategy and Insights team to tailor a bespoke strategy to improve conversion rate on your site. CRO is an ideal option for those businesses who aren’t looking to further increase their advertising budget, but might not have the strategic marketing knowledge or development resource in-house to achieve improvement in conversion numbers.

If you’re interesting in finding out more about our CRO services, get in touch with our specialists on 0800 222 9300.

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