Conversion Rate Optimization (CRO) is a process of improving a website's performance by finding out the WHY behind visitor behavior and implementing measures to improve the experience for the visitor. The process of CRO requires an understanding of web design, human psychology, statistics, and user experience. This is where the power of A/B testing comes in handy. By modifying an element of a website, a business can improve its conversion rates and maximize its profits.
Creating on-site polls is a great way to understand how your audience behaves and why certain pages and funnels fail to convert. You can then test the hypothesis that those assumptions are false and implement changes to optimize your conversion rates. Polls generally consist of one question, but they can narrow down the possibilities by determining which elements need tweaking. In addition, it can help you test your conversion rate by identifying which pages and funnels have the highest bounce rates or have the highest conversion rates.
The most popular methods of CRO are A/B testing and digital analysis. A/B testing focuses on improving conversion rates and places an emphasis on goals and user feedback. A/B testing tools are not created equal - some provide bare-bones goal tracking in low-tier plans while saving custom goal templates for higher-paying users. The most thorough way to improve conversion rates is to conduct A/B tests and use data collected through user research. However, qualitative data can be biased due to preconceived notions.
When optimizing your website's conversion rates, you should analyze the conversion paths of different user segments and identify their pain points. For example, an eCommerce website may have 100,000 visitors per month on average, but only two thousand of them will buy something from the site. This means that the conversion rate of 2,000 visitors is just over 2%. This number may not seem a lot, but it is enough to justify a conversion rate optimization drive.
Once you've identified which factors influence the conversion rates, you should conduct A/B tests. A/B testing can help you identify the most effective method for increasing conversions while consuming little resource. A/B testing is a powerful tool for testing the effectiveness of any website, and Convert Experiences provides a free trial. The statistically transparent nature of their data makes them a superior choice for conversion optimization. It also limits the possibility of biased outcomes.
Ultimately, it's important to optimize for revenue, and a winning variant could make you less money than the control in some segments. A/B testing should improve the experience of the user. This method of improving a website's conversion rate reflects a company's desire to improve its products and services. Experience, while expensive, helps businesses develop a repository of experience. If you don't understand what works for one customer segment and what doesn't, you won't improve your website's conversion rates.
A time lag is the amount of time between two related events. In eCommerce terminology, this means the number of days between the first interaction and the conversion. A conversion occurred 31 days after the first interaction with the website. In other words, the user interacted with the content on the site 31 days before the conversion occurred, and then returned to complete the transaction. This lag means that the user was on the site for exactly 30 days before making a decision to convert.