CRO (Conversion Rate Optimization) is a process that businesses use to optimize their website, digital ads, and all other customer touchpoints to maximize conversions.
As a SaaS business, most of the interactions you have with your customer are digital. In all these interactions and touchpoints, the most important metric is conversion rate. It tells you how effective your campaigns are and how much are they giving you back as compared with the investment.
As your business grows, the Customer Acquisition Cost (also known as CAC) increases exponentially. It increases your overall marketing budget and diverges your focus from the product to marketing. Conversion Rate Optimization helps you decrease the customer acquisition cost by making your efforts more effective.
In this guide, we will share the top 6 CRO tactics you can use in your SaaS business to improve the performance of your marketing efforts.
What Is CRO And Why Is It So Important?
To understand CRO, you need to grasp the concept of conversion rate. Conversion rate means the number of people (represented as a percentage) that take a specific action after a touchpoint or interaction (usually visiting your website).
Conversion rate optimization is the process that aims to improve that rate. It can include making minor adjustments to your website or changing the complete user interface. Remember that it is not limited to only optimizing your website – improving your digital ad campaigns, your social media pages, and all the customer touchpoints can be part of CRO efforts.
For a SaaS business, CRO is the backbone of all the marketing efforts. All the businesses, even those who do not know about it, perform it. They continuously improve their website and digital ads for better performance. CRO helps you ensure that your marketing budget is well-spent on efforts that give a good return.
6 Tactics To Power Up Your Game
We have gathered a list of the top 6 tactics to power up your CRO game. Let’s dive deeper into these tactics one by one.
1. PPC Campaign Optimization
The number one tactic on the list is PPC campaign optimization. In the SaaS industry, most startups rely on PPC ads for a good portion of their revenue.
Running a PPC campaign can seem easy, but when you start doing it, you notice that the competition is getting fierce and it requires a higher level of technical expertise. If you want to improve the performance of your PPC campaigns, you will either have to learn it in-depth or partner up with an agency.
Fantom Agency, for instance, provides great PPC Campaign management and consulting services to SaaS businesses. You can get in touch with them with a free consultation call.
2. Improve User Experience
As a SaaS business, the user experience is undoubtedly the backbone of your business. For a customer, the experience your software provides is the most prominent aspect of your service. It has the potential to make or break your business model.
Improving the user experience will have the most immediate impact on your conversion rate. Try to make the customer journey of acquiring and using your product as easy as possible.
3. Free Trial Subscriptions
Every SaaS business has a freemium pricing model. That means that they offer both a free and a paid version of their software.
Most of the free versions have either limited features or are free trials. Offering a free trial helps you reach out to customers that are looking for services like yours but are not sure to purchase them because of the price. Free trials give you a chance to show them what your product offers in return for the price. And if your software adds value to their lives, they will become the most loyal customers you ever got.
4. The Hello Bar
The Hello Bar is the one that pops up at the top of the page when customers visit your website. If your website doesn’t have one, you surely missing out on a lot!
According to this study, a digital marketer managed to ramp up their conversion rate by 8.45% by just adding it to their website.
5. Improve Your Online Forms
Improving your online forms can help you ramp up your conversions to new highs. The Contact Us form on your website is the source that gives you access to the inbox of the customer.
Improving your online forms and making them more user-friendly will help you convert more prospects into new customers. Or at least, it can help you increase your email list, which, in turn, can be a bigger source of new clients/customers.
6. The Onboarding Sequence
The onboarding sequence refers to the initial emails that businesses send to their customers or prospects. They can be a great source of getting new conversions as they are an opportunity to directly interact with the customer.
To increase the conversions you get from the onboarding sequences, make sure that you are communicating your value proposition as accurately as possible. Remember, it is not about convincing them to buy your products, it is about letting them know that your product solves their problem to the best.
Conversion Rate Optimization is a continuing process. As you grow and scale your business, you will need to revisit your strategies and product design. Optimizing both elements will require a certain involvement of CRO tactics that we have listed above.