All these new acronyms get a little confusing for people that don’t work in the world of web and marketing, so let’s start with the basics.
What does it mean?
CRO is an acronym for Conversion Rate Optimization.
The word conversion gets thrown around a lot, and everyone has their own interpretation of what it means to them. Which is absolutely correct! A conversion to you might be a thank-you page view, a phone number click, a video view, or a form submission. It all depends on your business goals.
The words “Conversion Rate” together, actually represent a mathematical equation: (number of conversions) divided by (unique pageviews). It’s important to have this data to really know how your website is performing for your business.
Optimization is the simple part. Meriam Webster’s Dictionary defines optimization as an act, process, or methodology of making something (such as a design, system, or decision) as fully perfect, functional, or effective as possible.
So by optimizing the conversion rate of your website, you will be ensuring your website is being as profitable as it can possibly be.