Digital marketing has been the buzzword since the first covid or lockdown. Many businesses were impacted due to covid as their business was not online, and some don’t even have a website. Having basic digital marketing knowledge is not a critical concern here. Knowing how to optimize your SEO on-page or off-page strategy or keywords, Facebook ads, Google PPC, UX strategy, and many more would be the most crucial part.
I am passionate about digital marketing because it presents us with more flexibility than traditional marketing. With the digital age, millions of internet users spend a lot of their time on digital platforms, hence the need for businesses to take advantage of this popularity with digital media. Digital marketing does not discriminate against any business since one needs to subscribe to the digital marketing services offered by a platform like Facebook ads. On the other hand, it is a low-cost method of marketing, reaching millions of people in one go within a short period instead of traditional marketing strategies. It’s hard for you to track the conversions or CTR on a billboard at the roadside, right? Another reason that has always fascinated me about digital marketing is its ease to measure. It is effortless to almost instantly ascertain its success, unlike traditional marketing, which takes months to evaluate its integrity. A tool for ensuring ease of measuring is email marketing software. Generally, there are more than enough reasons to use digital marketing instead of traditional marketing, and this has always been my passion for this new form of marketing.
Digitalmarketer.com was my source of the tools and training that helped me excel in digital marketing. However, I have shifted to CXL because it offers more detailed information and more tools. This was a smart move and for me to be able to take advantage of the benefits of CXL, shifting to it was the best option to undertake. Besides that, I sincerely would like to thank CXL institute for the scholarship they offered me and the chance they gave me to start with a mini degree of CRO, which is conversion rate optimization. It’s a dream that came true. I have just started the first few of CXL’s Conversion Optimization program, and it has helped me gain an in-depth knowledge of it.
Conversion rate optimization (CRO) is a term highly used by seasoned marketers. Conversion in this domain is the general description of a person visiting a website being able to complete a site goal such as filling forms or registering via a registration form over the web — the conversion rate on the number of website visits to the proportion of people who convert. Conversion rate optimization is, therefore, a defined process systematically geared towards increasing the percentage of online web users who landed on the website and becoming a customer via making a purchase, clicking an add to a cart, or clicking on a provided link on that site.
CRO can be understood as the process of focusing on what drives, discourages, or encourages web users so that you can build a site that gives the best user experience as much as you can. This is what makes it possible to improve the site’s conversion. CRO, therefore, emphasizes conversion percentages, averages of conversions, and benchmarks. CRO helps to lower the cost involved in customer acquisition by ensuring that there is more value from the visitors and users that are already there. Through optimization of conversion rates, one can increase or boost revenue per visitor to a site, get more customers as well as grow the business.
The main idea behind conversion rate optimization is basically to increase revenue. That is why CRO plays a critical role in any business due to its potential. Besides revenue, CRO as well improves user experience, making it easy for website visitors to navigate your website. Additionally, CRO helps in growing customer retention by giving them the best experiences hence reducing the cost of reacquiring customers who had already left. CRO also helps in generating more traffic to your website hence the best ranking, making it easy for your customers to find your website quickly upon searching. The higher the CRO, the higher the return on investment hence more profits.
CRO generates insights into users’ interactions with a website belonging to a company. These insights enable a business to enhance its website content and user experience, making it easy for the website to have visitors convert to customers or leads. This can be achieved if there is a well-defined way of signing up, clicking a link, buying a product, or even making a subscription to a service. CRO helps in identifying those elements that prevent conversion hence enabling a company to develop solutions. Such insights cannot be overlooked since they play a crucial role in making CRO beneficial to a company.
In CRO, traffic acquisition falls to only half the marketing equation. Since the target is to retain visitors after they visit a website, it is not enough until you retain them there. The main goal is ultimately to transform the visitor from interested prospects to become customers. Once customers do their first transaction, they need to be converted into repeat buyers, hence getting retained as frequent customers. The A/B Testing approach comes in here. A/B testing is whereby two different variations of a webpage or landing page are set up, and then equal amounts of traffic are sent to both. The number of conversions on each variation is measured, and a winner is declared based on which variation generates the most conversions. Upon identifying the winner, that conversion is the one that is switched to so that you can begin reaping the benefits of the improved conversion rate from the winning variation.
To conclude, the Conversion Rate Optimization concept in digital marketing helps companies grow their customer base, grow their sales, and boost their key performance indicators. Well, this is some basic understanding I got from this course. Let me complete the next stage and share some insights or some interesting information that would be valuable for you guys.