Did you know that the average Conversion Rate across all industries is 2.35%?
If you want to think about this in a less abstract way, it would go like this. From 40 visitors of your eComm shop, just one performs the action you want them to.
So, no matter how great your eCommerce marketing was, traffic doesn’t mean much unless you improve conversions and get your target audience to make make a purchase, fill a survey, or anything else.
Fortunately, you can do something about users’ behavior and don’t let the success of your eCommerce business to chance.
Here’s where Conversion Rate Optimization (CRO) steps in.
CRO is the a process through which rates of conversion from any digital device (computer and mobile phone) are increased.
The CRO includes the generation of ideas for the development of elements on an application or a website for improvement in performance and the evaluation of these ideas, making use of multivariate and A/B testing.
What is a CRO Agency?
A CRO agency is a marketing agency that works to increase the overall revenue generation for your website by limiting the costs of customer acquisition and increasing the value of your current visitors.
A CRO agency is a setup that ensures all the aspects of conversion rate optimization are fulfilled.
Why Conversion Rate Optimization Is So Important for eCommerce Success
It’s not an easy time for eCommerce professionals. Think about what happened in the last two years: a global pandemic that shut everything down, the instant migration of all business in the online environment, and on top of it all, less and less users agree to be tracked and share their online data.
Combine this unfortunate series of event, and acquisition is becoming more of challenge than ever. Thriving on Social Media is difficult.
And imagine the frustration you’d feel if this hard-acquired traffic bounces without converting. Money thrown out of the window.
CRO empowers you to to stop this waste from happening. CRO means applying conversion optimization strategies on your website, to ensure you convert your traffic.
Why do you need a CRO Agency?
Since the need to optimize a website or an application is continuous, the services of a CRO agency are constantly needed by businesses and companies for better performance by improving the user experience for their visitors.
To better understand the importance of a CRO agency, let’s look at this simple example.
There is a website that gets 1,000 visitors and the current conversion rate is 5%. With the services of a CRO agency, and its conversion rate experts, the conversion rate can be increased.
Let’s say it increases to up to 10%. The conversions will double the revenue on the basis of per person without needing to increase the traffic.
So, when paying for CRO consultation or directly hiring a CRO agency, you’re actually paying for better leads and more customers.
The CRO professionals in charge of your website or shops are people who spent years in this field, adapted to market changes, worked for multiple clients in various industries, and performed thousands of tests.
Besides, CRO is more than a marketing strategy, as it requires multiple departments to work together. Maybe even more people than your in-house resources: designers, project managers, developers, copywriters, researchers, and strategists.
Conversion Rate Optimization Services
Before choosing a Conversion Rate Optimization agency, you must first understand what you should and shouldn’t ask from it. While marketing agencies are all different and come up with complex service suites, there’s a general stack of services all agencies should offer:
- Audience Research
Audience research is a crucial step to Website Conversion.
When eCommerce owners (especially SMBs owners) play it by ear, they risk creating website features or copy that aren’t aligned with the real market needs.
Surveying and interviewing your target audiences enables you to identify what your audience members want or need.
When done right, audience research provides the insights you need to get website visitors to engage with your website.
Heatmaps are tools for data visualisations, that give you a crystal-clear view on visitors’ behaviors on your website.
Heatmaps represent an optimization solution that ultimately lead to better performing landing pages and higher conversions.
- Visitor Recordings
Visitor recordings allow you to record, save, and replay the interactions on your website. Optimization Agencies use visitor recordings to get accurate insights about the UX of your website visitors.
- Experiment Implementation
If you want to test your optimization strategies, you need to do a CRO website review, come up with hypotheses regarding the website, then test them on a controlled audience.
These tests are called experiments and the CRO company should implement these experiences. At the end of the experiment, the agency should determine the best performing variant, proving their CRO services were effective.
Setting Goals for CRO
A CRO agency will always base its digital marketing strategy (CRO strategy) on certain goals to improve the growth of the businesses they are working for.
This process is called setting conversion metrics.
These metrics vary according to the types of businesses as well.
For example, the conversion metrics for an online business will be completely different from the conversion metrics for a multinational company.
Based on the industries, some of the common conversion goals tackled by a CRO agency are:
- Media – page views, newsletter subscriptions, ad views, recommended content engagement
- Travel – booking conversions, social shares, ancillary purchases
- E-commerce – product sales, shopping cart completion rate, add-to-carts, e-mail newsletter sign-ups
- B2B – deals closed, leads generated
How to choose the best CRO Agency
Choosing a CRO Agency is the same as choosing any other digital marketing agency. The same principles apply for CVO strategists, affiliate marketing agencies, copywriting agencies, so on and so forth.
While you might be tempted to go for the top CRO agency on the market, make sure they’re meeting these basic criteria:
- They can show you their results
Conversion Optimization is a high-stakes endeavour. It can cost you a good amount of money, so ensure you’re investing in agencies that know their field.
- They have valuable resources
Strategy is not so effective if you don’t have the resources to test it. CRO agencies need tools to test their hypotheses and software to track their progress.
- You have chemistry
In the end, you want your CRO partners to see you as more than just a pay-check. Ideally, you should pick an agency that cares about your business, shares your values, and wants to see you succeed.
Frequently Asked Questions about CRO Agencies
CRO stands for Conversion Rate Optimization. CRO can be done on LPs, Websites, Product Pages or any other touchpoint in the Customer Journey. CRO helps you improve your traffic and can significantly lower your cost per acquisition.
In relation with Customer Relationship management, CRO means distancing yourself from the one-size-fits-all solutions and strategies. Instead, CRO in CRM means you are strategically investing in customer segments that will bring in the most monetary value.