Conversion Rate Optimization
follows the same principals as what you normally would measure when doing a business analysis using the “Classic Business Funnel”.
Now with online marketing, the metrics are very similar and depend on what your conversions are (ecommerce sites generally have different conversion metrics than a brick and mortar business).
With ecommerce websites, the website generates revenue directly and so the calculations for Conversion Rate Optimization are slightly different. You can adjust your formula based on your business requirements.
This is very similar to the classic sales funnel which is a modified business funnel to measure conversion costs. The steps taken to increase the effectiveness to the campaign is another form of Conversion Rate Optimization.
These types of funnels allow you to visualize your overall objectives and can help you identify potential weaknesses in your process (a great asset for your SWOT analysis).
If your small or medium sized business is a more traditional brick and mortar business or provide services to a local geographic area, your Conversion Rate Optimization metrics will look a little more like this.
By understanding what is really important to your business growth, you can make adjustments to your digital assets and online presence to better convert into what your business really needs.
You can also use these metrics to further understand your business and help determine things like the cost per lead (CPL) so you have a better idea of what advertising channels are working and where your money is best spent.
CRO has helped evolve SEO and has become as important as the exercises around SEO. When done right, the data produced by each campaign can help determine where changes are required to help increase the overall effectiveness of the business marketing dollars.
Since CRO takes time to measure, the updates need to be applied regularly to help increase the relevance of the website while at the same time helping produce better results and increase conversions.
This is why the gang at Search Gurus is constantly reviewing and adjusting our campaigns.
If you need help, consider calling Search Gurus. We can help.