Your conversion rate tells you how successful your marketing strategies are and how many website visitors “convert” e.g. make a purchase. If you have 1,000 website visitors and 20 users make a purchase, for example, your conversion rate is 2%.
By creating a more conversion-focused website, that same 1,000 website visitors will equate to 40 sales if you can double your conversion rate to 4%, for example.
More importantly, however, when users convert and have a good experience doing so, they are also more likely to return. This means that CRO is also crucial to improving customer lifetime value (CLTV) and cultivating loyal customers. Equally, a website that is tailored to convert its unique audience has the potential to increase average order value (AOV). The effects of conversion rate optimization will ripple throughout your business.