Conversion Rate Optimization (CRO) is a systematic process of increasing the percentage of website visitors who complete a site's desired action. This could be anything from filling out a form, becoming customers, or any other action that's important to your business.
In the context of digital marketing, Conversion Rate Optimization involves using analytics and user feedback to improve your website's performance. It's about understanding how users move through your site, what actions they perform, and what's stopping them from completing your goals. CRO is used to improve any metric on your website that's important to your business, often called key performance indicators (KPIs).
The answer to this question varies from industry to industry and business to business. However, a good conversion rate is often considered to be around 2% to 5%.
There are several ways to improve your conversion rate, including improving your website's usability, making your call to action more compelling, and optimizing your landing page.
There are several software tools available that can help with Conversion Rate Optimization. These include Google Analytics, Optimizely, and Crazy Egg.
The benefits of Conversion Rate Optimization are numerous. It can help increase revenue, improve customer insights, and make better use of your existing website traffic. It's a cost-effective way to increase your customer base without having to spend more on advertising.
In conclusion, Conversion Rate Optimization is a crucial aspect of digital marketing that can significantly improve your website's performance. By understanding your user's behaviour and making necessary changes, you can increase your conversion rate and ultimately, your bottom line.