Conversion Rate Optimisation (CRO): The Next Big Thing For Online Brands To Ensure Success, 90% Of Ad-Agencies Prioritised CRO As Key Factor [STUDY]

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Majority of marketers spend in millions for advertising to attract fresh audience, but very few are able to contain the attracted brand fans for long-term association. Conversion Rate Optimisation (CRO) is important for any online firm to drive maximum sales or sign-ups (whichever forms of engagement is expected for a particular website). According to a new report from Econsultancy and RedEye, nearly 90% of Ad-agencies and 87% of Client-side respondents agreed that ‘Conversion Rate Optimisation’ has become more important in the last 5 years.

87% Advertisers Say Conversion Rate Optimisation Is Important

Conversion rate optimisation factor, an act of increasing website sales without increasing new web visitors, is vital for online firms. It is not economically feasible for any online brand to invest funds to launch Ad-campaigns at irregular intervals to attract new visitors, even if launched it is important to retain those users and keep them engaging on long-term to increase sales. Apart from customer satisfaction and driving website traffic, which contributes minor part of  success strategy, it is important to keep users engaging by bringing in scientific changes on website and make it more appealing.

Nearly 87% of advertisers and 90% of Client-side respondents agreed that Conversion Rate Optimisation has emerged as most important and challenging part for online sites. Luckily there were just 9-10% under ‘marketing infants’ category, who declared that importance of CRO hasn’t changed much in last 5 years.

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Variations in Web pages, landing pages and images can help in shaping a first time visitor into a repeat customer. Investing frequently on Ad-campaigns is not worth if 95% of website visitors are just visiting web page and not engaging in any manner (sales,sign-ups). It is important for online firms to keep their website page updated, change the UI once in a while, Feed new fresh content, keep blog updated, post useful information for users, use infographics and try increasing average time spent by user on website.

Lack Of Resources And Budget Are Major Barriers

From above figures, it is quite clear that majority of marketers are well aware of importance of CRO for the success of an online firm, but there are number of barriers, which marketers face while executing various strategies for CRO.

Nearly 52% of marketers quoted ‘lack of resources’ as a major reason for hinderance to conversion rate optimisation. While, about 36% expressed concern over budget requirement. Therefore, expert hiring over CRO methodologies becomes one of the keys to success while ensuring CRO. Majority of website experts are knowledgeable enough to create a website, but very few of them dig into the analysis part, where every feedback from customer needs to be studied and desired changes must be implemented. Periodic checks must be done to accumulate above average website visitors; revised attractive UI, variation in front end, better navigation must be inhabited if website hits are low.

barriers_to_croSurprisingly, about 28% of respondents labelled conflict of interest between departments as major concern. Nearly 26% were facing problem with strategy planning and 25% with poor technology growth. There is high probability of conflict in opinion/interest between various departments especially in larger firms offering services in diversified domains. If a particular department sought for higher budget for CRO of website’s service section/domain handled by them, it might not be entertained as main priority of company’s CRO budget allotment might be elsewhere in other service domains.

For managers/admins/decision makers of a company its is vital to discuss CRO needs in detail, realise the immediate actions of their company, and prioritize CRO processes accordingly. Latest technology must be adopted to avail better CRO for a website. Another major barrier for implementing CRO of a website is seen with 3rd party alliance or where decision rights rest with authorities who aren’t easily approachable.

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A firm must know its target customers; buying and various other forms of engagement is decided by list of factors attractive to users to pursue long-term association. Analysing behaviour of customers and provide more options with easy navigation between them could be another major action point to implement. Extra incentives/services/offers is what customers generally look for and such additives must be highlighted clearly on website. High-resolution images, catchy comments/lines, attractive interface of website, offering certain deals which might persuade customers to visit again are few measures which if implemented can help in better CRO rate of a firm.

Source: Econsultancy

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