Is Your Business Really Ready for Conversion Rate Optimisation?
IConversion Rate Optimisation (CRO) has become a buzzword in the digital marketing sphere, often touted as a surefire way to increase sales and boost business growth. However, for start-ups with limited traffic, diving into CRO might be a premature and misguided strategy. According to a report by ConversionXL, 70% of businesses fail to see a significant uplift in conversion rates despite CRO efforts, primarily due to low traffic and improper testing*.
The Traffic Conundrum
The fundamental requirement for effective CRO is sufficient traffic. Without a significant volume of visitors, it is nearly impossible to gather meaningful data and achieve statistically significant results. According to Optimizely, a leading CRO platform, a typical A/B test requires a minimum of 1,000 conversions per variant to draw valid conclusions*. For start-ups, especially those just beginning to build their online presence, reaching this level of traffic is highly unlikely in a quality way.
Patience and Persistence: Rare Traits in Start-Ups
Start-ups are often driven by urgency and a desire for rapid growth. This environment can clash with the patience required for CRO. Effective optimisation involves testing, waiting for results, analysing data, and then making informed changes. This cycle can take weeks or even months. As a start-up founder, waiting to understand one result before making any other changes can be frustrating and impractical and totally takes away the agility and excitement of running a small business.
Marketing expert Neil Patel highlights this issue: "CRO requires time and patience, which many start-ups do not have. They need immediate results to stay afloat"*. This impatience can lead to premature conclusions or frequent changes that disrupt the testing process, rendering the efforts futile and cheesing off those working on CRO for your business!
Prioritising Traffic and Awareness
For start-ups, the focus should be on driving traffic and building brand awareness rather than obsessing over minor conversion rate improvements. Generating a consistent and substantial flow of visitors is crucial. Once a start-up reaches a level of traffic that supports meaningful CRO, the optimisation process will be far more effective and rewarding.
Investing in paid social media, search engine marketing, and content marketing are strategies that can help build this initial traffic and areas at Blorange we specialise in.
Conclusion
While Conversion Rate Optimisation is a powerful tool for established businesses, it is not a one-size-fits-all solution. For start-ups with limited traffic, the effort and resources required for CRO can be better spent on driving traffic and building a robust online presence. Once a small business achieves a strong and steady stream of visitors, CRO can then be leveraged to fine-tune the user experience and maximise conversions effectively, if founder patience allows!
Sources:
Optimizely, "How Much Traffic Do I Need for A/B Testing?" 2023.*
Neil Patel, "Conversion Rate Optimisation for Startups: Why It’s Not Always the Best Strategy," 2022.*
ConversionXL, "70% of A/B Tests Don’t Result in Meaningful Change," 2023.*