Last week we discussed various techniques on how to optimize conversion rates for PPC for your online business. This week we take the topic further and continue to elaborate the importance of Conversion rate optimization for you.
Let us straight head to the topic of the day where we have planned to discuss what is the right time to introduce CRO for an online business.
Well, is there actually a right time to introduce CRO or can you make the decision at any point of time during the business? If YES, how long do you run it. Find out about it in today’s blog below
WHEN IS CRO RIGHT FOR YOUR BUSINESS?
It is a simple strategy, when your business is attracting website visitors, then you should take CRO into consideration very seriously.
No matter how established or large your company is, you want to convert your visitors into qualified leads, customers, and brand advocates — and you want to do so in the most effective, impactful, and reliable way.
With the process of conversion rate optimization, you’ll get more out of your existing website traffic while ensuring you’re targeting qualified leads.
To understand where you stand at any point in time in regards to conversion rate, here are some most commonly used formulae that can be followed and what we suggest to our clients and readers for your business.
Understand it carefully, analyse it and improve your business.
FORMULA 1: CONVERSION RATE
Get to know your conversion rate first by using the simple formula listed below.
Leads Generated ÷ Website Traffic x 100 = Conversion Rate %
FORMULA 2: NUMBER OF NET NEW CUSTOMERS
For a business to grow calculate your number of net new customers, you’ll want to divide your net revenue goal by your average sales price.
New Revenue Goal ÷ Average Sales Price = Number of New Customers
FORMULA 3: LEAD GOAL CALCULATION
Finally, to calculate your lead goal, use the following formula
Number of New Customers ÷ Lead-to-Customer Close Rate % = Lead Goal
Not only that, but it’s clear that generating more website traffic isn’t necessarily the right approach when trying to improve your conversion rate – in fact, you can grow your business substantially without increasing traffic at all.
CONCLUDING NOTE…
Are you ready to take the first steps toward CRO at your company? Review the article yourself and start experimenting for growth.
Allow Akuna Technologies to help you shore your business up. We can certainly help grow business sales using CRO with experts in our team and along with this we are a certified Shopify expert, specialised in Shopify ecommerce development
Would you like to go one step further, do you require personal assistance in setting it up? Do not worry, Akuna Technologies – a Shopify expert company deals with Shopify ecommerce development, Shopify theme Customisation, Shopify app development, product image editing, Shopify store setup and much more. We vouch for Shopify for your new business idea and start-up for these times as the internet is becoming the new place for businesses and start-ups.
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