Importance of CRO in B2B Marketing
Conversion rate optimisation (CRO) is the continual improvement of website performance, typically measured by the volume of conversions.
As a fluid, ongoing process, CRO involves measuring user behaviour and user journey, then validating ideas to increase conversions via testing and analysis. The most typical CRO strategy is to increase volume and/or quality of lead generation via a B2B website.
Generate More Leads
CRO is important as it enables your B2B to reduce the cost per lead by generating more value from your website visitors. By improving your conversion rate, your revenue per website visitor increases, enabling you to generate more leads.
For example, if a webpage has a 5% conversion rate and receives 5,000 page visits per month, then that webpage will generate 250 conversions per month. If that 5% conversion rate can be improved to 10% by optimising that webpage then, theoretically, the volume of conversions should increase to 500 per month.
CRO is an ongoing process as there is always room for improvement, especially with the fast-paced nature of digital marketing and technological innovation. New technologies are constantly evolving and providing the opportunity to improve the user experience of your B2B website.
Where to Improve
By tracking how users behave and interact with your website, CRO can help identify where you website needs improvement. If users are exiting on a certain page without converting, CRO can identify opportunities to improve your B2B sales funnel.
PPC is Becoming More Competitive
Spending more on lead generation is not always the answer. Why increase website visitors, and therefore the cost of PPC advertising, when you could increase the likelihood of a conversion from your existing website visitors?
The ‘Right’ Prospects
CRO can help fine tune your website and digital marketing efforts. By analysing user behaviour, you can discover exactly what your target audience likes, and dislikes, about individual webpages. Bounce rate, pages visited, time on page, event tracking can all help understand user behaviour on your B2B website.
Boost existing traffic
CRO capitalises on website traffic your B2B website is already acquiring. This means you don’t need to spend more to increase website visitors, instead, just increase the likelihood of those users converting but improving your sales funnel.
Continually optimising your website can create a snowball effect for your B2B to grow. The better your conversion rate, the more leads you can generate. Converting leads into clients can result in greater incoming revenue, meaning your B2B can allocate larger advertising spends to drive more traffic to your website.
Want to convert more of your website traffic?
Contact us to discuss improving your sales funnel today.