Growth Hacking and Conversion Rate Optimization
So how does conversion rate optimization fit into the growth hacking framework?
Conversion rate optimization (CRO) is a digital marketing strategy that’s focused on improving the user experience in order to improve conversions.
According to entrepreneur and author Sean Ellis, considered the founder of the worldwide Growth Hacking movement, “Conversion rate optimization is important for driving growth.” So if you’re trying to growth-hack your business, you should also be doing CRO.
Companies with real growth potential need conversion rate optimization to increase desire for their products, remove friction, build traction, and improve ROI.
Using CRO to Increase Desire
Do you know what’s common across successful growth hacking stories?
They all have products that customers already want or need.
AirBnb, for instance, appealed to people who didn’t want to stay in pricey hotels. Professionals and businesses loved the fact that LinkedIn let them be discovered easily by other professionals and businesses.
Growth hacking capitalizes on the existing desire for the product and makes it viral. Virality can be achieved in a number of ways. You can use different strategies: social media, WoM, ppc, etc. The end goal is to drive traffic back to the website or landing page.
Conversion rate optimization plays an important part in traffic acquisition. Even at this stage, you need to ensure that your messages and campaigns are highly effective at communicating the desirability of your product. That begins with understanding customer intent, creating your unique selling point (USP) and getting it across to the right audience.
This is where CRO comes in: it allows you to create highly customized and targeted campaigns that are specifically designed to convert your target audience. With optimized campaigns and messaging, you can drive the desire and lead customers toward a conversion event.
This means that you waste less time and resources on campaigns that don’t produce results.