Are website optimization and conversion rate optimization roughly the same thing?
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This is mostly a semantics question, but I also want to check that I have a basic understanding of the two concepts. Are the two terms more or less interchangeable or are there any crucial differences?
I always thought of website optimization as the complementary partner to SEO. While the ultimate goal of SEO is getting people TO your website, website optimization is focused on refining your website so that those people STAY on your website.
When I think of conversion rate optimization, I'd imagine that's pretty much the same goal. Refining a website so that more people stay and ultimately convert (buy something, subscribe to a newsletter, etc).
Is my understanding of one (or both) of them flawed, or is it six of one, half a dozen of the other? Thanks!
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I think that website optimization is kind of the umbrella term for SEO and CRO. Optimizing you website for search engines and for searchers really.
The goal of CRO is to get people buying on your site. You change layouts, move phone numbers, increase call to actions in order to drive your traffic to make purchases. I believe CRO is almost equally, if not more, important than SEO. Driving traffic is an art, and converting them is the gallery where you sell those paintings.
I could be wrong, but, this is how I see it

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Well, I would add the conversion rate optimization does not necessarily have to mean "get the user to buy something." It could be to make a phone call, signup for a newsletter, etc. So, it really is about choosing something you want a user to do, implementing a strategy to get the user to do that...then seeing what percentage of users actually do...then improving it as best you can (most likely through A/B testing).
Website optimization...I don't think it has a standard definition. Monica said "umbrella term for SEO and CRO" and I guess that works, but I've heard it relate to a number of other aspects like site speed and social media plugins. I view it more as a buzzword for marketing companies to sell their "all-in-one" campaign packages than something with a specific definition.
Best,
Ruben