If you are going through this blog, chances are pretty brighter that you already know about CRO or conversion rate optimization. You may know the basic principles- that CRO encompasses A/B testing versions of a website against each other to know which performs better- but might not have conducted any tests as yet. At this stage, you would be wondering what the benefits of conversion rate optimization analysis are.
Let us find out what the conversion optimization rate is, and how it works on websites.
What is CRO?
CRO refers to the practice of A/B testing two versions of a single website against one another. The primary purpose of the process is to find the version that converts better- that is, the version that generates most leads, phone calls, contact forms, purchases, and so on.
CRO includes testing different factors on a website to observe whether and how they impact conversions. It may include elements, such as an entire checkout process or small ones, like the color of a button.
Top Benefits of CRO
The biggest benefits of conversions rate optimization have to do with money and lead. However, the key advantages of testing your site go beyond that.
The following are top three advantages of CRO:
Make Decisions Based on Data
Before CRO, if you were looking to make a change to your site, you probably did it based on gut feelings. You might have heard someone saying, “We need to change this page because I think it will do better if…”
Here is where CRO comes into play. It eliminates “I think” and leads to “I know.” CRO enables you to make decisions based on facts and data than your gut. In pharmaceutical market research and analysis, some businesspeople choose Key Opinion Leaders Profiling alongside CRO analysis as it complements the earlier.
Get Better Results
When you use the data acquired from CRO analysis to make decisions about changes on your website, you will see that you have obtained results from these changes. In case you have changed the color of a button after knowing that the testing has proved 5 per cent more users click it, you will get at least that 5 per cent- versus unknown conversions from changes made without testing.
Make More Money Over Time
Most blogs and articles on CRO benefits emphasize on the additional money conversion rate optimization can earn you. Though it’s true, you should not expect your CRO analysis to result in millions of dollars in additional revenue in the initial stages. Instead, be positive about incremental revenue you will notice over time.
Mostly, CRO will assist you in identifying small areas of opportunity that can result in increased conversions- and therefore increased revenues- over the span of few weeks.
So these are only three out of many benefits of CRO.
To avail CRO analysis, key opinion leaders profiling and Data Entry Outsourcing Services, you can reach out at Penterra Analytics. Penterra is one of the leading companies offering top class market research and analytics services in India and abroad.
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