Every digital business seeks conversion, and every professional digital marketing strategy has to work hard on the CRO or Conversion Rate Optimization . CRO does not mean more than optimizing all the conversion rates or interactions that lead the web user to the fulfillment of the final objective: a qualified lead or a sale. In a global scenario where digital competition is increasing, where a large majority of the market focuses its investment and effort on push strategies of recruitment or acquisition. I invest in multi-channel and multi-platform: social Ads, Google Ads, Bing, RTB (real time Bibbing) or programmatic advertising, Ads Server platforms… .a qualified user is worth their weight in gold. For this reason, brands are focused on that user ends up finding what they are looking for, in the right time, at the exact moment and with the precise message. But let’s not give more detail and let’s begin to reel off everything that the CRO concept implies. What is CRO or Conversion Rate Optimization CRO is the acronym in English for “Conversion Rate Optimization”, which when translated means conversion rate optimization. This encompasses a set of techniques and methodologies Belarus Email List whose main objective is to improve the performance of a digital business, improving the different conversion rates generated by each user interaction on the brand’s website. And here lies its importance, since the CRO helps to consolidate and convert that web traffic, that digital user, into an end customer. Therefore, the CRO is a methodology that is built by defining a professional CRO Strategy and later developing a tactical part based on data analysis, testing, content customization and continuous change with professional tools. The online marketing needs to make things right, and therefore needs to build a strategy, using a methodology and use professional tools. I will never tire of repeating it. The CRO Strategy allows, through the analysis and investigation of the behavior of the web user, to establish new lines of action that improve this achievement of the web conversion objective established by the brand. This is achieved thanks to the use of advanced analytics, content personalization and testing techniques, applied to the context of web behavior to detect strategic opportunities. Being a Strategy, it needs to define at least: The Objectives at the CRO or Conversion Rate Optimization level. Defining the objectives will help us to focus so as not to disperse. The type of tarte or buyer person, it is normal to start by analyzing customers and categorizing and / or segmenting them by potentiality. An action plan and timing that help to achieve the objectives set. And finally a budget, in human and financial resources. Agile and scrum methodologies are being used more and more in this type of project, but we will tell you about that in another post. Advantages of applying a CRO strategy. Therefore, if we execute a professional CRO Strategy, it will help us to: – Detection and correction of inefficiencies and errors. – Understand the real conversion process (conversion path) of the user and customer. – To formulate hypotheses that help us to propose “best scenarios” for conversion, step by step. – The testing of the actions launched, their validation and implementation of those that have winning results (best indicators in the experiment). – Improve the final conversion ratio of the digital product / service. – Improve the profitability of the brand. Phases of a CRO Strategy To summarize in a way that we can all understand, a CRO Strategy would be divided into three major phases of execution: 1. Obtaining relevant information This consists of having the web fully monitored with tools such as Google Analytics, Tag Manager, Yandex, Hotjar … in order to find those points or low-performance interactions. The key here is to have quality data at a quantitative and qualitative level. It is essential to know how to establish what metrics we have to measure (bounce rate, session duration, scroll rate, CTA click…) and which KPIS we have to establish and monitor. With this, it is advisable to build a dashboard in real time per acquisition channel, the easiest thing to do in Data Studio Starting from the data we will analyze the users to understand how our typical client behaves and why. In other words, we will also analyze the context and type of client or buyer person. Extracting patterns and insights from the analysis. 2. Action plan in Conversion Rate Optimization Once analyzed and with all the high-value information on the table, you have to design what actions, in what order of priority and with what depth to execute to improve conversion performance. At this point, creativity and innovative capacity are important to solve the problems that users are having. From changing the color of a CTA or reservation form (simple test example) to modifying the home page for the recurring user or returning visitors based on the type of profile and the content that they have previously consumed.
3. Submit the CRO actions to a validation test Once you have defined what, why and how it is going to be done, it is time to validate that the decision making is correct. A / b testing, split testing, multivariate testing come into play here. The goal is to learn about them, locate patterns, and identify opportunities that improve business profitability and optimize the conversion path. Once it is decided which actions have obtained the best result, it is time to put it into production. This process is circular and feeds back, being constantly in motion, analyzing, Belarus Email List launching, testing, improving to re-analyze, test and production. Once the set of problems or inefficiencies have been solved, we move on to the next one. Conversion Rate Optimization and Business Intelligence Companies that invest heavily in digital are involved in developing Business Intelligence projects. This means that data is increasingly important for profitability-oriented business decision-making. In this sense, the CRO has also been affected, especially depending on the type of analysis to be carried out. Therefore, if we apply CRO methodologies we can do it in 6 different phases that we detail below. 1. Descriptive and retrospective analysis based on historical data from the past. That is, what products did the client buy, how many clients have left by type of buyer persona , the seasonality of sales for brand promotional campaigns. 2. Establishing a diagnosis. That is, understand why and establish cause-effect relationships. For example, because a type of customer buys a certain type of product or services and not another. In this process, analysis dimensions are added. 3. More complex analysis through simulation. For this we design hypothetical scenarios of action. What would happen if we changed the position of a product on the purchase shelf or if on the web we added a new complementary product line for our most profitable buyer persona with the aim of cross selling. 4. Through simulation and experimentation we enter the world of predictions. That is, to be able to predict certain behaviors based on certain variables. Which clients from my portfolio will leave next month and what will be their motives. The digital world makes it possible to carry out experiments and predictions using machine learning techniques, complex algorithms and Business Intelligence (BI).
5. Be able to write prescriptions. That is, to act on the client itself to obtain the results predefined by the brand. Identify groups of customers that meet certain conditions and apply retention or loyalty strategies on them, assessing the estimated success. 6. Anticipate what the client is going to demand of us in the future. For example, which client is thinking of leaving and what am I going to offer them so that they do not do so. Rate Optimization Conversion Example Let’s imagine that we have an e-commerce that sells urban mobility products, such as scooters and electric bicycles. The CMO decides that the time has come to apply CRO, the online business has been in the market for two years and will close the year with net sales of 324,000 euros. Until now they have been capturing and capturing traffic, working on the conversion rates by phase of the sales funnel in the last leg (purchase process). They have been improving the design to make it more “usable” but for the new year it needs to improve figures. One of the possibilities it handles is the optimization of conversion rates. Currently its website has a rate of 0.12%. Of the 60,000 monthly visitors, on average 70 end up buying. An average ticket of 450 euros. The CMO has thought that if he manages to optimize the final rate by two points, he will sell 100 more units with an increase of more than 50,000 euros the first year. Objectives to be defined for Conversion Rate Optimization – Reduce overall bounce rates by 15% – Increase the average time on page by 1 minute. – Reduce cart abandonment rate by 12% – Convert 10% more blog readers into end customers. To do this, it will focus on the following audiences: – Blog reader, middle class profile, who has read more than 2 posts and has scrolled at least 50% with a page time of more than 2 minutes. – The profile of the PPC campaigns that end up abandoning in the purchase process (cart). What Conversion Rate Optimization actions could be designed – Inclusion of CTAs and promotional banners in strategic posts to improve conversion. eu phone number What they visit the most or where the user is longer or those related to the product to sell. – Improvement and simplification of the purchase process, the part of adding to the cart and continuing. – Basic customization of content for the recurring user at a multivariable level. How we execute Conversion Rate Optimization actions – For the CTA part, establish different A / B tests with different CTAs and banners. With two CTA experimentation lines and contextual banners (within the post) and on the rigth side bar. – For the purchase process, test with small modifications to improve the process step by step. Change button color, be able to continue shopping or finish purchase, buy as a guest user…. – Personalization could be something simple (with Data Lyer), identifying if you are a man or a woman and which product you have visited where you have met the stipulated rules (time on page, scroll, click …). In this case, upon reentering the brand’s main HOME, this content would be shown to each user. This process would be fed back to improve each interaction, optimizing each conversion rate. CRO and UX CRO and UX If you are reading more and more post about CRO or about UX (user experience) you will have realized that they are two terms that go very hand in hand, that must be complemented and understood to be efficient. When we plan for our website to convert more, it is inevitable that we will also end up working on the user experience and the user interface or UI. This means that for the web user, navigation must be as simple as possible, clean, explained, finding what they are looking for in the shortest possible time and with the fewest number of clicks. Brands want that visit to end up being a satisfactory shopping experience. Do you know the Glovo app? When choosing your favorite dishes from the chosen restaurant, the steps are very simple. Superior menu with food categories, you scroll and progress through the entire menu. By clicking the + sign, you add to the cart that is always seen on the right side, with price and VAT included. Once you finish, you choose how you want to pay, card or cash and that’s it. In 5 minutes your order is underway. Therefore, the CRO seeks to optimize each conversion rate based on data and testing. The UX tries to improve the web experience with designs and functionalities. Both are needed and feed back. From my point of view CRO and UX should go hand in hand to help achieve the conversion goals of the brand on a digital level. Working in parallel, the impact on the results is exponential.