What is CRO and why does my franchise need it?
CRO Strategies, Tools, and Best Practices for Your Franchise
If your franchise is relatively new to the world of online sales, we’re pleased to present to you CRO: Conversion Rate Optimization. ✨
If you’ve been in the online game for a while, it’s never a bad idea to review the basics. 🤓
The conversion rate is a measurement taken to assess the proportion of users who visit a website taken against the number of users who actually perform an action on the site, such as subscribing or making a purchase on the website. Calculating conversion rate requires knowledge about the number of visitors you have on your site and those who have “converted,” or performed an action. The formula is simple: conversions / general visitors X 100 = conversion rate.
No business has a perfect conversion rate and the optimal conversion rate differs for different businesses and industries. There are standards which have been somewhat established from different studies, however. Three percent is a solid conversion rate for B2B websites, while software and SaaS have a conversion rate of about seven percent. The average rate of conversion across all industries is only 2.35% but the top ten percent of companies in this measurement have an astonishing conversion rate of 11.45% across their entire account.
Improvements to CRO
There are several reasons to improve CRO for your site, most revolving around higher sales and customer retention. There are also steps you can take to improve CRO no matter what industry your franchise serves.
- For example, using lead capture forms works because they represent a critical point in your sales funnel.
- You can also use videos to capture the attention of users and engage them, as you pitch the benefits of your franchise. Audio and visual cues have become extremely important in the last several years.
- Finally, your sales pitch should revolve around giving customers a tactile and sensory-specific experience and knowledge of what you sell. Find the pain points of your prospective customers and emphasize how your products or services eliminate these pain points.
Mistakes to avoid
In addition to using these specific tips and tricks to entice buyers into subscribing to your service or purchasing your products, there are critical mistakes to avoid regarding improving CRO. Always look at your data and use empirical evidence to change any approaches to your sales tactics.
Your landing page layout and web design should be combed over and assessed from a data perspective. Data gleans on what can be improved upon. You should also do your best to synchronize the message you present on your landing page to the overall message of your marketing. Landing pages should be unique and emphasize the selling points you want to hit.
Don’t be too cautious or slow-going when waiting for statistical significance to emerge; there’s not always a reason to create a plethora of small tests before moving onto a more impactful and visual change. Finally, don’t allocate a single page to run all of your tests. Spread your changes out among multiple pages of your website and try not to introduce too many variables into your marketing experiments.
Trust an inside source
CRO improvements are tough, but there are companies which specialize in helping franchises increase their conversion rate. Where to start? Download Better Set Go’s free Ultimate Marketing Kit to start leveling up your marketing strategy, including CRO.
If you need further help in increasing your franchise’s conversion rates, contact BetterSetGo today.