Web traffic is a good sign for businesses, but strong marketing only truly pays off when web visitors engage with the advertised service or product. A crucial metric for successful advertising, this engagement indicates that businesses are converting web visitors into customers and subscribers.
Conversion optimization is the process of increasing this engagement rate – an important metric for successful advertising. As online advertising gets increasingly competitive, business students are now trained in conversion rate optimization (CRO). These skills help digital marketers convert web traffic into tangible consumer engagement, helping businesses thrive online.
Are you curious about CRO and its importance in digital marketing? Read on to find out more.
Conversion Rate is a Versatile Measure of Success
In a business marketing survey, 59 percent of companies responded that CRO was a crucial component of their advertising strategy, but 98 percent said they believed in its overall importance for digital marketing. Across all advertising platforms online, ‘conversion’ is an indication that advertising approaches are working.
In most cases, conversion rate optimization looks to drive online customers, leading more web visitors to make purchases. Yet, conversion might also target non-monetary engagement, including mailing list subscriptions, survey completion or application downloads. From making a purchase to signing up for a newsletter, CRO helps business evaluate – and refine – their online presence to better drive desired visitor actions.
CRO can help top businesses strengthen ties between marketing and sales departments
Conversion Optimization Can Serve Crucial Business Purposes
Despite a consensus around its importance, CRO is still a competitive advantage for some businesses, as peer companies are slow to adapt its uses to their particular online model. Digital marketing training can help business graduates tailor CRO to specific company needs. These techniques help businesses of all sizes maximize their web traffic, ensuring that more clicks lead to product engagement.
While struggling businesses might feel the need to enhance net web traffic, CRO helps them focus instead on optimizing the web traffic they already have. Walmart Canada offers a recent example of CRO success. The company noticed in 2013 that a large portion of its online engagement came from mobile users, despite the fact that their website was not mobile-friendly. By redesigning their site – and boosting mobile speed by 35 percent – the company achieved a greater conversion rate.
BBA School Students can Learn to Measure CRO
Digital marketing courses can help develop crucial CRO skills, introducing students to the most trusted techniques. Among the more popular CRO methods, A/B testing allows companies to measure engagement levels through incremental changes. This method releases new web layout features to a portion of users to assess the impact on total purchases, downloads, subscriptions or other action completions. Customer journey analysis is another helpful tool, whereby businesses analyze their online experience through customer data, and attempt to pinpoint any areas where customers might be dropping out of the process.
Digital marketing techniques help business students become valued employees
Web marketers also benefit from direct user feedback, with surveys to determine a web platform’s major weaknesses. CRO may also call upon more traditional, ‘offline’ marketing techniques – driving engagement by creating a sense of urgency, making a personalized pitch, or presenting a specific value proposition.
Are you interested in learning about conversion optimization at a leading BBA School?
Contact Geneva Business School to learn more about our program!