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Advantages of CRO | Benefits of Conversion Rate Optimisation

In this article, we break down the advantages of carrying out CRO (conversion rate optimisation) activities on your website. CRO should be a core element of every digital marketing campaign as it holds tons of benefits. Read on to learn why you should reap the benefits of CRO.

Conversion rate optimisation can be highly effective in increasing your company's revenue and profits through generating more cases via your legal website. But those aren’t the only benefits you’ll see by creating a successful CRO strategy for your business.

 

 

Conversion Rate, otherwise known as CVR, is one of the key metrics in ecommerce websites (such as fashion) and other kinds of websites such as lead generation site (such as law firm websites). This is because CVR reveals the percentage of your website traffic that is completing your defined goals or purchasing a product. Ultimately, the higher your website's conversion rate is, the better.

What is CRO?

Conversion Rate Optimization is a thorough and methodical approach to improving how well your website achieves specific goals or one defined goal, such as ecommerce purchases to contact form completions for a lead generation website.

CRO informs recommended changes to make to your website with insights, analytical data, user feedback and many more metric variations. This is basically making the most of the traffic that your website is gaining, rather than increasing it, as seen in most common digital marketing activities.

The above analysed metrics will be defined by your website's core goals and objectives, otherwise known as KPIs. This involves taking the traffic that you already have and making the most of it.

CRO / Conversion Rate Optimization is not based on guesses because all changes should be backed up with real data. This is why CRO is such an important benefit to any digital marketing strategy. Basing your changes on real data will make sure every change you make is positive.

Why do We Use CRO?

CRO plays an important role in improving your website as a whole and holds many advantages and benefits.

The Advantages of CRO

One of the best advantages of CRO is that we can funnel website visitors to a specific goal, whether its physically or psychologically, to make a purchase or fill in a form. CRO makes your marketing strategy more effective and comprehensive by making the most of your website traffic. We do this by analysing real data to inform decisions about making changes to your website. 

CRO improves decision making

By collecting large amounts of data on how your potential claimants interact with your legal website you can begin to make informed decisions based on data rather than guess work. By analysing and utilising the data from your CRO tests you can prioritise the pages and elements that you need to change to increase your website's conversion rate and generate new business.

CRO reduces risk

As well as allowing you to make informed decisions based on data, you can also limit the risk to your business due to backing up your decisions with evidence this data creates. Arguably this is more important than the financial gains CRO can provide, as reducing the risk of loss and overhead by creating an insurance policy based on your findings, allows you to easily switch back to your original designs if need be.

CRO allows you to analyse customer insight

As well as being quantitative and allowing you to measure website performance, the data gained from your website's CRO campaigns  allows you to discover more about the behaviour of your ideal potential claimants by enabling you to analyse how they interact with your legal site and the types of content they engage with most. This means that no CRO test can be seen as a failure because although you may have to go back to the drawing board in terms of the changes you are making; you will be doing so with much more information on your ideal audience’s behaviour, which will only aid you to create optimised elements and pages for your site.

CRO creates better pages

Conversion rate optimisation allows you to analyse the performance of a page and test variations in design, style and context. By looking at different elements, you can create pages that not only have an increased conversion rate but also provide your users with a much more enjoyable and rewarding experience.

CRO grows your email list

By producing an optimised website through your CRO strategy you can increase the number of sign-ups to your email lists. This allows you to grow the reach of your business, by distributing newsletters with new relevant content and call-to-actions to continue your user’s journey with your website and eventually driving conversions.

Calculating Conversion Rate

You can calculate your conversion rate when you have all of your goals and ecommerce tracking working perfectly and you have enough reliable traffic data. 

Once this is all done and you have waited enough time for your data to gather, you can work out your conversion rate by dividing the total number of conversions by total number of visitors. An example is shown below:

- 50 conversions

- 1000 total website visitors

50 ÷ 1000 = 5% conversion rate.

The most obvious benefit of knowing your website's conversion rate is that you are able to measure the conversion rate growth and what impact it will have on your business whether it goes up and down. You can set clear forecasts and goals and you can take advantage of CRO by improving you conversion rate to increase sales and profits.

Download our Legal CRO eBook

So here are five great benefits that conversion rate optimisation can provide your legal practice, why not check out our other great blog about 10 mistakes you need to avoid to give your potential claimants a great user experience.

 

If you have a business in the financial sector and would like to up your marketing game or receive some expert information about digital marketing for financial services in the new, then get in touch with a member of our team!
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