Increasing revenues and user engagement
Conversion rate optimisation
The practice of conversion rate optimization (CRO) typically involves making changes to a specific website with the goal of increasing the number of visitors who take a desired action, such as making a purchase or submitting a lead form.
CRO goes beyond making small incremental improvements though; at it’s core, it’s really about optimizing and analysing the customer journey to create positive, thoughtful and engaging experiences for users.
to understand the impact of CRO to a business we use our GrowthGauge scoring system to show just how much potential exists within a specific website.
Read on for more about obtaining your score and how CRO can impact your business.
Why Is conversion rate optimisation relevant for my business?
CRO is important for any business with an online presence that wants to increase leads, sales, or engagement from their website. For example, an effective CRO usually yields a lower cost-per-acquisition (CPA) in paid marketing campaigns, because if done correctly, you’ll generate more leads or sales from the same amount of traffic.
Therefore, CRO can help you get the most out of your marketing budget and gives users the best chance to convert on your site.
CRO can also improve web revenues; by presenting users with a smooth, reliable and safe experience through data analysis and testing we can achieve better conversion rates and average order value with no additional traffic acquisition.
is CRO actually important?
- Increase sales and revenues for your website with the same amount of traffic
- Acquire new customers more cost-effectively when using paid acquisition
- Improves your brand awareness and customer return rate and, in turn your LTV (Life Time Value)
- Reduces marketing costs and gives you an effective return on your budget
- Improves the overall experience of your website for users and provides deep insights into activity
- Keeps you ahead of the competition and also keeps you aware of any competitive advantage you aren't already using
How does conversion rate optimisation work?
The basis of conversion rate optimisation is experimentation, making changes to your website (known as split, A/B testing or multivariate testing) and then measuring the impact this has on your key metrics, although this is only one method in an arsenal of tools available to our CRO team.
The key to successful CRO is the scientific method that forms the basis for consent and fair testing, reporting and analysis of results. The system we use, for example, follows a proprietary framework designed to dig deep into unexplored regions of the user journey and expose the opportunities available to improve conversions on your site. Using such a method ensures that we provide an unbiased, data-driven approach and helps ensure that negative results aren’t introduced during the testing and development process. Such considerations are sometimes overlooked when CRO best practices are followed, as many are constructed from a one-size-fits-all approach, which isn’t the case for most websites.
It’s also important to note that CRO should not be approached with a “set it and forget it” mentality, as your website and users are ever-changing, and so too should our optimization efforts. CRO is an ongoing process that is constantly adapted based on the business objectives, previous results achieved and economic factors.
The science behind the CRO Process
These steps form the basis for our scientific approach to Conversion Rate Optimisation. It’s key that any CRO work undertaken follows a set process to ensure there are no unexpected outcomes or loss of revenue on your website.
We start by visit your business goals and objectives. We then align our project objectives with your goal so we’re all on the same page.
One of the most overlooked steps is the accuracy and relevance of the data available to us. We’ll start by validating your current analytics and ensuring we have all of the tracking we need in place for your project. If not we’ll get it set up and running.
Using your exiting data points and any data we have collected during our validation work we will start to gather quantitative data. This forms a baseline for our primary investigations inline with project objectives.
Once data analysis is complete we can then look to a focused area to conduct our heuristic analysis. Heuristics are mental shortcuts that allow people to make judgments and solve problems quickly and efficiently. It is based on the assumption that people use their past experiences and knowledge to guide them in their decision-making. With is in mind, once we understand the heuristics in play on your website we can understand how to begin to craft a better journey for your users, one that improves our conversion goals.
Forming a hypothesis for our testing is critical to ensuring we understand what success metrics matter. It also allows us to plan for the eventuality our testing indicates a different or unexpected outcome. It’s just as important to ensure we maintain your existing conversion rate without negatively impacting your revenue.
Forming solid hypotheses provides sense check to testing activates and maintains objective alignment.
Now we’re ready to design our experiments and create a testing pipeline and gather our data. We use the relevant process and technologies to successfully launch and measure our tests until we reach a point of statistical significance.
Was the test a success or does it need tweaking and redesigning? At this point we can decide if this is something that can be turned into a fix or development for your website or if we can retest for a better result and understanding.
real world Conversion rate optimisation results
CRO Case studies
Outdoor Kitchens
£250k online revenue increase per month
Understanding how users interacted with the website and how paid advertising impacted lead quality allowed us to boost monthly sales revenues by £250k per month through this lead generation website.
“Would recommend ilan and the Agentix guys to anyone, expect my competitors…looking forward to seeing what the next 12 months bring”
WF GROUP
0.8% to 3.4% conversion increase
WF is made up of multiple Magento websites providing different products but all sharing the same platform. Once we identified the opportunities and fixes for one website it was rolled out as best practice for all others. Improving the conversion rate for all sites.
WURTH
1.9% to 3.2% conversion rate increase
Analysing the behaviour of users on this dedicated B2B website underpinned with a bespoke multivariate testing programme delivered an overall online sales revenue growth of £3.2m over the space of 24 months.
“invaluable in helping to grow sales and providing analysis on new product development demand to the team”
Wood Works
£600k in additional monthly revenue through CRO and enhancing lead generation funnel
This luxury kitchen company is truly a one of a kind but getting that message across clearly through paid marketing was not so easy. Through journey analysis and ongoing CRO projects we’ve managed to help them achieve their business objectives.
RUBIX
£2.5m in additional online revenue per year
Following a new website launch this global supplies provider experienced a decline online sales. Over a 24 month period we got things back on track and opened new revenue opportunities through our CRO projects.
CRO always Starts With A Scientific Approach
Request a GrowthGauge score for your website
What’s a GrowthGauge score? GrowthGauge is our in house metric for growth potential. It’s a diagnostics report outlining the revenue potential that your website has, how it compares to the wider marketplace or sector and finally a score for your growth potential and next steps.
- Benchmarking against your competition
- The exact revenue potential that CRO can deliver
- How much revenue your currently missing out on
- Technical user experience report with 12 months data
- 90 point CRO priorities report with quick wins analysis
