What Is The Definition Of Conversion Rate Optimization
The Definition Conversion rate optimization (CRO) is the scientific process of testing and improving the conversion rate of a PPC campaign, website, platform or landing page. The goal of CRO is to increase the percentage of visitors who take a desired action on a website. For example, making a purchase, signing up for a newsletter, or filling out a contact form.
You can optimize various parts of your conversion funnel. You can optimize for leads, or you can optimize for conversions. It really depends on what your company’s goals and long term strategies are, and what your customer lifetime value is. That will signify which direction you should optimize in.
#1) CREATE ASSUMPTIONS
#2) TEST ASSUMPTIONS WITH A/B TESTING
#3) IDENTIFY WINNING A/B TEST
What Conversion Rate Optimization Is Not
Conversion rate optimization (CRO) is NOT taking on everyone’s ideas and opinions, shaking them up in a jar, and hoping that one of the “brilliant” concepts changes the game for you. Conversion rate optimization is not a magic pill to fix your marketing campaigns, it’s a very arduous and scientific process that takes diligence, money, and time.
Conclusion
You need to have stable pieces of creative to test out your CRO assumptions you come up with. You then cross reference your “control” or stable piece of creative against real world data and a “sample size” of data will help you determine if your assumptions were right, or wrong.
It is extremely important to have proper tracking systems installed so you can complete adequate conversion rate optimization campaigns. If not, your CRO implementations won’t be very meaningful towards your goals, and the results could be fleeting.
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Troy is the CEO & CIO at Legacy Media Partners. We manage large media budgets, and solve complex scaling issues that Mid-Market companies always face. In 2021 we added $7.6 Million in additional profits to our client’s bottomline.
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