5 Important things you lose when your business doesn’t invest in CRO

Posted by Optimization Team at Multiplica on March 22, 2018
5 Important Things You Lose When Your Business Doesn’t Invest in CRO

Conversion Rate Optimization is the process of creating or enhancing a website so that it encourages users to take specific actions, such as making a purchase, filling out a form, or signing up for emails or a newsletter, or providing feedback.

In today’s competitive digital landscape, CRO is a crucial, must-have component to any company’s marketing and sales strategy. All successful online businesses engage in some kind of CRO practices (such as Optimization, Testing, or Personalization), making it absolutely essential in any digital space.               

CRO has the power to shape the way users think and feel about your brand, to drive (or kill) sales, to turn users into customers and customers into loyal brand ambassadors, to make or break your entire user experience, and, ultimately, to shape the success or failure of your online business.

 

Here’s a breakdown of everything that’s at risk in your company when you don’t invest in CRO practices:

  1. Revenue: The #1 driver for CRO practices is to increase conversions/sales. If you’re not investing in optimizing your conversion funnel and user journey on your site so that users have a hassle-free, frictionless path to purchase and engagement with your brand, obviously, your conversion rate will stagnate over time (or, worse, decline), and your sales will decrease. This will have a hard impact on your company’s bottom line.
  1. Loyalty: Users and online shoppers are a picky bunch. They’re not patient, they hate confusing websites, and they won’t stick around to make a purchase with you if your site is clunky, difficult to navigate, or coming across as untrustworthy and out of date. So, while you may get a one-time purchase or conversion on a non-optimized site, you very likely will not attract those repeat users and brand loyalists that every business needs and craves.
  1. Data: CRO is all about collecting data (through analytics) about your users’ digital profiles, behaviors, needs, and desires and then using this information to inform your optimization strategy. If you’re not engaging in CRO, you’re not accessing this data and using it to its full potential, therefore, you’re not paying attention to who your users/customers are and what they need.
  1. ROI: CRO directly affects the effectiveness of your sales and marketing spend, because the higher your conversation rate, the more return on investment your company gets. If your website is optimized for maximum conversions, you’ll see improved performance and higher ROI overall. 
  1. SEO: While CRO doesn’t directly affect the SEO of your site, it stands to reason that an optimized site that uses a data-driven approach to provide a good user experience, enhanced trustworthiness, and a frictionless buyer journey will naturally rank better for organic search results.

Ready to learn more about how to implement CRO strategies on your website? Email us at optimization@multiplica.us

 

Topics: User Experience, analytics, Digital and Media Marketing, E-Commerce, targeting, Optimization, Optimization Tools, Test and Optimization, data, CTA