We talk a lot about conversion rate optimization (CRO). There is a good reason for this: it helps moves the needle with less resources (both with effort and financially)! There are not that many ways to generate more sales without spending more on marketing and/or ramping up your sales team. Word of mouth is one way, but for most businesses that is out of their control and hard to master. That leaves good old Conversion Rate Optimization!
To illustrate how a bump in conversion rate could help your business, we created a simple calculator.
The calculator above shows you how much more money your business can generate by increasing your conversion rate. The great thing about CRO is that you don’t have to modify your current marketing or sales efforts. You’re simply improving the efficiency of those initiatives. Instead of your monthly marketing spend resulting in only a 2% conversion rate, perhaps you can bump that to 4%. These may seem like small numbers, but depending on your customer lifetime value and how much you’re spending on marketing, this could be a huge revenue generator or savings. Plus, why not get the most for your advertising/sales dollars?
One simple and overlooked tool to help you on your conversion rate optimization journey is a survey. Whether you are surveying visitors before they exit your page or emailing surveys to users who have expired free trials, using a survey is a dead-simple way to accomplish CRO.
Once you understand why visitors or users aren’t converting, that’s when the fun starts. It could be a simple landing page layout change, or maybe your customer onboarding isn’t intuitive enough. There is nothing better than knowing exactly what you need to do that will actually improve conversion rates. Often times people rely 100% on analytics to try and figure out why users drop off, but you’re still simply using assumptions if you haven’t actually spoken to any of these visitors or users.
Now go out there and start optimizing your conversion rates!