Conversion rate optimization is a tool which has long been used in B2C enterprises to encourage a higher rate of conversions from the leads which the company is able to bring in. The issue which so many businesses have had is being able to bring more traffic to their websites, but then not managing to seal the deal once the user is online, a problem which conversion optimization offers the perfect solution for.
In terms of B2B companies like those in the industrial sector however, understanding conversion rates is a lot more complex and far less reliable, mainly due to the fact that business buyers invest much more time in research than consumers, which leaves it more difficult to identify a benchmark for companies in the industrial sector in terms of a conversion rate. With this being said however, improved metrics and better research have more than indicated that businesses can still count on many benefits when they invest the and effort into conversion rate optimization, and here are just some of those benefits which industrial companies can expect.
Get Ahead of the Competition
As mentioned in the intro, it had been difficult to nail down true conversion rates based on the amount of research and comparison that businesses make. Using conversion rate optimization however could help you to seal the deal before the user has had the chance to check out all of your competition. If your competitors are not using CRO, you can get the jump on them and eat up some valuable market share.
Lower Cost Per Lead
If you use paid advertising and have found yourself frustrated at the number of clicks which you are paying for that result in no leads, CRO can help to minimize this greatly. The crux of CRO is about combining the right ad with the right landing page, do that and you’ll not only increase sales but your cost per lead will reduce greatly.
Count on Some Free SEO Advertising
Google very much has a tendency of rewarding websites which offer real value and excellent user experiences to its visitors and in optimizing your website in line with CRO, you can anticipate a rankings boost as a result. Solid SEO results in higher leads and increased brand awareness, both of which you can expect when you invest in CRO.
Growing a Customer Base
An issue which many in the industrial sector have found for many years is that they have a long lasting customer base which doesn’t grow at the rate that they would like. Loyal customers are great and this is something which all companies should aspire to find, but they also need a steady flow of newer clients and increased revenue as a result. Furthermore conversion rate optimization will not only help to secure clients, but as word of mouth travels you may find that customer base growing exponentially.
Increased Brand Perception
Landing on a page which directs you to exactly what you are looking for really gives the indication that this is a company which has grasped how best to help its clients. Conversion rate optimization works best when it is used to increase the efficiency and the overall look of a website, so much so that it is becomes shareable. Brand power is huge in both the B2C world and B2B world, and CRO can offer you another benefit when it comes to building that brand.
Make More Money
Beyond all of the additional benefits to investing time and money into conversion rate optimization, the bottom line is that its sole purpose is to convert more leads into sales, thus bringing in more revenue and profit into your industrial business. This money will come from direct sales, exponential growth, increase of brand power, money saved on advertising and the ability to take on and beat your competitors.
If you haven’t already considered investing in conversion rate optimization then you can see here the benefits that you could very well be missing out on. For the investment that you will make in CRO you are going to see returns which far exceed your outlay which is yet another compelling reason why your industrial business should look into using CRO, and get closer to your financial goals.