Conversion rate optimization: Difference between revisions

Revision as of 06:55, 11 June 2023

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== 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.).

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{{citation needed|date=February 2016}}, and through removing impediments to user experience and improving page loading speeds.<ref>{{Cite web|title=How Website Performance Affects Conversion Rates|url=https://www.cloudflare.com/learning/performance/more/website-performance-conversion-rates/|url-status=live|access-date=July 10, 2022|website=[[Cloudflare]]|archive-date=May 30, 2022|archive-url=https://web.archive.org/web/20220530075502/https://www.cloudflare.com/learning/performance/more/website-performance-conversion-rates/}}</ref> In doing so, businesses are able to generate more leads or sales without investing more money on website traffic, hence increasing their marketing return on investment and overall profitability.<ref>{{cite book|last1=Goward|first1=Chris|url=https://books.google.com/books?id=2N1DwBhcMTkC|title=You Should Test That: Conversion Optimization for More Leads, Sales and Profit or The Art and Science of Optimized Marketing|date=2013|publisher=[[Wiley (publisher)|Wiley]]|isbn=9781118301302|___location=[[Hoboken, New Jersey]]|lccn=2012951871|oclc=1159801038}}</ref>

There are four main elements of conversion rate optimization <ref>{{Cite web |last=Rich |first=Page |date=2023 |title=The Ultimate Guide to Conversion Rate Optimization (2023) |url=https://www.rich-page.com/cro/conversion-rate-optimization-ultimate-guide/2}}</ref>:

[[Statistical significance]] helps understand that the result of a test is not achieved merely on the basis of chance.

* '''[[A/B testing]] and personalization.''' This is the process of using A/B testing tools to discover the best converting versions of websites elements or pages, and involves testing different elements on a page, for example the wording, imagery or call-to-action buttons. [[Statistical significance]] in A/B testing helps understand that the result of a test is not achieved merely on the basis of chance.

There are several approaches to conversion optimization with two main schools of thought prevailing in the last few years. One school is more focused on testing to discover the best way to increase website, campaign, or [[landing page]] conversion rates. The other school is focused on the pretesting stage of the optimization process.<ref>{{Cite book|last=McFarland|first=Colin|url=https://books.google.com/books?id=Z9B-7cHB5UwC|title=Experiment!: Website conversion rate optimization with A/B and multivariate testing|date=August 17, 2012|publisher=[[New Riders (publisher)|New Riders]]|isbn=9780133040081|___location=[[Berkeley, California]]|oclc=817741617|access-date=September 13, 2020|archive-date=May 7, 2021|archive-url=https://web.archive.org/web/20210507114802/https://books.google.com/books?id=Z9B-7cHB5UwC|url-status=live}}</ref> In this second approach, the optimization company will invest a considerable amount of time understanding the audience and then creating a targeted message that appeals to that particular audience. Only then would it be willing to deploy testing mechanisms to increase conversion rates.

* '''[[User experience]].''' It is essential to ensure that website visitors can browse and convert more easily without any issues. Improving user experience including using best practices for improving your website navigation, search, forms and user flow. This needs to be done on desktop and mobile versions of websites, as user's needs are often quite different on both.

* '''Conversion research.''' Doing research to discover the issues, doubts, hesitations and needs of users is now a key part of CRO. Once this feedback is discovered from running customer and visitor surveys, user testing and visitor session recordings, you can discover insights for creating website improvements and A/B test ideas that have a higher chance of increase conversion rate.

* '''Website persuasion.''' This helps to persuade your users to convert much more often by using several techniques including writing highly engaging copy, particularly in your headlines and call-to-action buttons, using social proof, scarcity and urgency. A popular source of these techniques are from the book 'Influence: The Psychology of Persuasion' by [[Robert Cialdini]].

Conversion rate optimization seeks to increase the percentage of website visitors that take a specific action (often submitting a web form,In making aeffective purchase, signing up for a trial, etc.) by methodically testing alternate versionsuse of a page or process{{citation needed|date=February 2016}}, and through removing impediments to user experience and improving page loading speeds.<ref>{{Cite web|title=How Website Performance Affects Conversion Rates|url=https://www.cloudflare.com/learning/performance/more/website-performance-conversion-rates/|url-status=live|access-date=July 10, 2022|website=[[Cloudflare]]|archive-date=May 30, 2022|archive-url=https://web.archive.org/web/20220530075502/https://www.cloudflare.com/learning/performance/more/website-performance-conversion-rates/}}</ref> Inthese doingCRO soelements, businesses are able to generate more leads or sales without investing more money on website traffic, hence increasing their marketing return on investment and overall profitability.<ref>{{cite book|last1=Goward|first1=Chris|url=https://books.google.com/books?id=2N1DwBhcMTkC|title=You Should Test That: Conversion Optimization for More Leads, Sales and Profit or The Art and Science of Optimized Marketing|date=2013|publisher=[[Wiley (publisher)|Wiley]]|isbn=9781118301302|___location=[[Hoboken, New Jersey]]|lccn=2012951871|oclc=1159801038}}</ref>

== Calculation of conversion rate ==