Topics
- Conversion Rate Optimization
- Process and Data
- Emotional Authority and Congruence
Video summary
The video discusses Conversion Rate Optimization (CRO) and how it helps in getting free money by increasing website conversions. The speaker shares a case study where they double the website's conversion rate, resulting in cheaper CPAs, higher RVs, and more money to the bottom line. The three main takeaways for CRO are to understand it's a process, rely on data rather than opinions or assumptions, and always be trying to beat the control. The video also mentions the importance of emotional authority and congruence between the landing and checkout pages, and how to identify and fix issues in the funnel using heat maps and recordings.
Dig Deeper
Conversion Rate Optimization
Conversion rate optimization (CRO) is all about getting free money. By improving the conversion rate of your website, you can bring in more revenue without spending more on ads. For example, if you currently spend $1000 a day on ads and bring in $2000 with a conversion rate of 2.8%, increasing your conversion rate to 5% would bring in $4000 without spending more on ads. This means cheaper cost per acquisitions (CPAs), higher margins, higher revenue, and more money to your bottom line.
However, CRO is not just about changing your call-to-action button from green to orange. It's a process that requires data rather than opinion or assumptions. Here is a simple process for CRO:
- Build your pages and install your heat maps, recordings, and tracking pixels.
- Send traffic and collect data. Look at the recordings to see where people are clicking and not clicking and come up with theories about why.
- Formally hypothesis, structure design, and test your ideas to find the winner.
- Rinse and repeat, always trying to beat the control day and night.
Top Three Things for CRO
What are the top three things you should look at in your funnel for CRO? It depends on where people are leaving in your funnel. For example, if people are dropping off at the checkout page, it's usually due to an emotional problem or a bad flow of the checkout page. It could also be that your offer on the landing page doesn't match your offer on the checkout page. Therefore, you need to install heat maps and recordings to find out why people are dropping off and come up with solutions to fix those problems.
Impact on Affiliate Marketing Industry
CRO has a significant impact on the affiliate marketing industry because it allows affiliates to generate more revenue without spending more on ads. By improving the conversion rate of their website, they can increase their margins, lower their CPAs, and bring in more revenue per visitor. This gives them a competitive advantage over others in the industry who are not utilizing CRO. Therefore, affiliates who are serious about their business should focus on CRO as one of their key strategies.
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