How to Budget for Conversion Rate Optimization

More and more companies are putting Conversion Rate Optimization (CRO) into their online marketing budgets.

You should, too.

CRO — or website optimization, or revenue optimization — increases revenue, leads and subscribers. It also decreases the cost of all of your marketing. It reduces your acquisition cost by turning more visitors into leads and buyers.

However, CRO is one of the most measurable activities marketing will do. We like to call ourselves “The most measurable agency you’ll ever hire.” The reason is that we rely on analytics and testing to do our job. We have to know if we’re creating more revenue for a business. If we know you know.

Estimating Your Budget

The thing about conversion optimization is that small changes in conversion rate — we prefer to measure revenue per visit (RPV) — deliver big changes in sales. It can be hard to get your head around.

To help you understand the annual impact of small changes in your revenue per visit, we’ve created the Conversion Rate Upside Calculator. It will tell you how much more revenue you will make per year with small changes in your RPV.

Conversion Upside CalculatorThe Conversion Upside Report evaluates your online business on several dimensions.

The report tells you:

  • Your current conversion rate
  • Your current revenue per visit
  • Your current monthly transactions
  • Additional revenue from a 10% increase in RPV
  • Additional revenue from adding .1 to your conversion rate

It’s a great report on the state of your online business, and the potential future you have in store.

Three Questions

Just three questions is all it takes to see how much your business will benefit from optimization.

  1. Monthly visits
  2. Monthly new revenue
  3. The value of a conversion

Small changes in your conversion rate can mean big changes in your revenue. Give the optimization calculator a try.

 

See your upside button

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Shelly Koenig

Everyday Behavioral Sciences Webinar

How do you diagnose a poor performing landing page?

Sticky shows us how to use eye-tracking to build landing pages with killer conversion rates.
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