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{{Short description|Concept in digital marketing}}
[[File:Conversion marketing example.svg|thumb|A bar chart showing three stages in a "[[Sales process engineering|sales funnel]]": "saw the advertisement" -> "clicked the advertisement" -> "bought the product". The
'''Conversion rate optimization''' ('''CRO''') is the process of increasing the percentage of users or website visitors to take a desired action (such as buying a product or leaving contact details).<ref>{{Cite book|last1=Saleh|first1=Khalid|url=https://books.google.com/books?id=USIKL4celYcC|title=Conversion Optimization: The Art and Science of Converting Prospects to Customers|last2=Shukairy|first2=Ayat|date=Nov 1, 2010|publisher=[[O'Reilly Media]]|isbn=9781449397692|___location=[[Sebastopol, California]]|pages=2|oclc=733752533|access-date=May 7, 2021}}</ref><ref>{{Cite book|last1=Ash|first1=Tim|url=https://books.google.com/books?id=d7xvcnxYa1wC|title=Landing Page Optimization: The Definitive Guide to Testing and Tuning for Conversions|last2=Ginty|first2=Maura|last3=Page|first3=Rich|date=April 24, 2012|publisher=[[Wiley (publisher)|Wiley]]|isbn=9780470610121|edition=2nd, illustrated|___location=[[Indianapolis]]|pages=13|oclc=751127244|access-date=May 7, 2021}}</ref>
== History ==
Online conversion rate optimization (or website optimization) was born out of the need of [[e-commerce]] marketers to improve their website's performance in the aftermath of the [[dot-com bubble]], when technology companies started to be more aware about their spending, investing more in website analytics. After the burst, with website creation being more accessible, tons of pages with bad user experience were created. As competition grew on the web during the early 2000s, website analysis tools became available, and awareness of website usability grew, internet marketers were prompted to produce measurables for their tactics and improve their website's [[user experience]].
In 2004, new tools enabled internet marketers to experiment with [[Web design|website design]] and content variations to determine which layouts, copy text, offers, and images perform best. Testing started to be more accessible and known. This form of optimization accelerated in 2007 with the introduction of the free tool [[Google Website Optimizer]].<ref name="auto">{{Cite book|last=Page|first=Rich|url=|title=Website Optimization: An Hour a Day|date=2012|publisher=[[Wiley (publisher)|Wiley]]|isbn=9781118196519|language=English|oclc=940552907}}</ref> Today, optimization and conversion are key aspects of many [[digital marketing]] campaigns. A research study conducted among internet marketers in 2017, for example, showed that 50% of respondents thought that CRO was "crucial to their overall digital marketing strategy
Conversion rate optimization shares many principles with [[Direct marketing#Direct response marketing|direct response marketing]] – a marketing approach that emphasizes tracking, testing, and on-going improvement. [[Direct marketing]] was popularized in the early twentieth century and supported by the formation of industry groups such as the Direct Marketing Association, which was formed in 1917 and later named
Like modern day conversion rate optimization, direct response marketers also practice [[A/B testing|A/B]] split-testing, response tracking, and [[Test screening|audience testing]] to optimize mail, radio, and print campaigns.<ref>{{Cite book|last1=Caples|first1=John|url=https://books.google.com/books?id=0cBfQgAACAAJ|title=Tested Advertising Methods|last2=Hahn|first2=Fred E.|date=1997|publisher=[[Prentice Hall]]|isbn=9780132446099|editor-last=Hahn|editor-first=Fred E.|edition=5th, revised|___location=[[New Jersey]]|oclc=924986866}}</ref>
== Methodology ==
Conversion rate optimization seeks to increase the percentage of website visitors that take a specific action (often submitting a web form, making a purchase, signing up for a trial, etc.) by methodically testing alternate versions of a page or process
[[Statistical significance]] helps us understand that the result of a test is not achieved merely based on chance.
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A conversion rate is defined as the percentage of visitors who complete a goal, as set by the site owner. It is calculated as the total number of conversions, divided by the total number of people who visited your website.
:<math>\mathrm{Conversion\ rate} = \frac{\mathrm{Conversions}}{\mathrm{Number\ of\ visitors}}</math>
==See also==
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