Who Should Invest In Conversion Rate Optimisation?

Conversion Rate Optimisation (CRO) is quickly becoming one of the most important weapons in the digital marketing arsenal. In this article, we are going to look into which industries need a CRO specialist & the types of websites who would really benefit from CRO. If you are new to this, here is the CRO definition our friends over at MOZ have kindly put together:

“CONVERSION RATE OPTIMISATION (CRO) IS THE SYSTEMATIC PROCESS OF INCREASING THE PERCENTAGE OF WEBSITE VISITORS WHO TAKE A DESIRED ACTION — BE THAT FILLING OUT A FORM, BECOMING CUSTOMERS, OR OTHERWISE. THE CRO PROCESS INVOLVES UNDERSTANDING HOW USERS MOVE THROUGH YOUR SITE, WHAT ACTIONS THEY TAKE, AND WHAT’S STOPPING THEM FROM COMPLETING YOUR GOALS.”

Ultimately CRO utilises the traffic you are already getting, in a more efficient way. It often involves making changes to the overall landing page experience, so that current website visitors are more convinced with the brand & product proposition. If you are planning on getting started with CRO, there are some fantastic benefits:

  • It should improve the performance of all you digital marketing channels, lowering your customer acquisition costs.
  • It can improve your user metrics in Google Analytics (Bounce Rate, Dwell Time etc), with Google likely to reward you in its organic algorithm.
  • Brand Perception, Profitability, Returning Customers & Sales Revenue are all likely to increase.

Which Types Of Websites Need CRO?

So now that you know what CRO is, you need to know if it’s important for your own business. Is it the case that everyone should be investing in CRO or does this practice benefit certain websites more than others? Undoubtedly getting started with CRO is important however the below four areas outline the prime business types (in our opinion) who should invest in conversion rate optimisation.

#1. Niche Businesses With Small Audiences

If you offer a very specific product or service, then you are probably one of the industries which need a CRO specialist. For example, if you sell Replica Aztec Gold Coins to a very select audience of history enthusiasts – it’s not a mass market service. In this case, there is a finite pool of people who will be interested in your service and you simply can’t go out and purchase high volumes of alternative relevant traffic.

Whatever traffic you do manage to capture needs to be capitalised on, and that means presenting site visitors with a high converting website. In realistic terms, it might be difficult to continually grow traffic by a large margin each year however if you manage to continually optimise your conversion rate then you can still witness impressive levels of revenue growth.

Example Categories – History & Antiques ||  Foreign Imports ||  Academic Papers || Memorabilia

#2. Luxury Goods

Up next are luxury goods, it’s no secret that businesses selling extravagant products are exactly the types of websites which need CRO. This is because consumers can be put off by high price tags and they need to be sure that the product they are getting in return is of the highest quality. If the customer journey doesn’t reflect themes of quality & exclusivity then consumers may not be willing to agree to higher prices.

CRO should be used to optimise the entire journey shoppers have with luxury brands, ensuring that not just landing pages but policies such as delivery, guarantees & returns are also market leading. When we think about which industries need a CRO specialist, then none seem more relevant than luxury brands. The extra plus point here for brands is that because their average order values are typically so high, a substantial increase in conversion rate can literally equal millions of extra revenues each year. So, it’s well worth the investment for these types of sites.

Example Categories – Sports Cars || Luxury Fashion || Holidays  || Experiences

#3. Heavily Scrutinised Products & Services

People don’t always feel comfortable purchasing the first product or service they come into contact with. We now live in an era of price comparison sites & customer reviews, making it extremely easy to compare a possible purchase with many other options in the market. If you are in an industry vertical which is heavily researched & scrutinised pre-purchase, then getting started with CRO might be the best marketing move you make this year.

It’s now so easy for customers to temporarily leave your site, to see what else is out there. By investing in CRO you improve the chances of them taking action on their first visit to the site, meaning less sales are being lost because a better deal is found elsewhere. CRO is all about understanding the customer & what is important to them, then at critical steps of their website journey conveying this information back to them. This increases their confidence in the business and enables them to make much quicker purchasing decisions.

Example Categories –  Insurance Providers || Education || Healthcare || Banking

#4. Newly Launched Websites

At Brickwork, we always recommend dedicating some time to CRO when a website first launches. Even if it’s just 10-15 solid hours in the first full month. The reason being, you are often so focused on the actual website & impeding launch dates that there always items which haven’t been thought about or aren’t working as expected. We also often see a substantial difference in the level of conversions a desktop website gets versus the newly launched mobile version (even if it’s responsive). If you fall into the category that your mobile traffic isn’t converting as well as your desktop, then spending some time on the mobile CRO is the quickest way to boost those mobile conversions.

We hope you enjoyed our post on who should invest in conversion rate optimisation. The honest answer is everyone however if you serve a small niche, are a luxury brand or offer a service which is thoroughly researched pre-purchase then CRO is definitely a worthwhile tactic.