By optimizing your conversion rate you can increase revenue per visitor, acquire more customers, and grow your business.CRO is critical for product management and growth for a variety of reasons.
Before sending large numbers of users to a website or app it’s best practice to create an experience which converts users from viewer action-taker.
The specific actions are all specifically identified and measured and the relation to other controllable factors to understand when a website or app is ready for more traffic, and how much traffic.
The initial optimization is only the start and this is a never ending process where teams, lead by product managers should be continuously engaging in actions to improve the conversion of the page, screen or messages.
The practice of CRO
This process is called Conversion Rate Optimization (CRO) and involves making adjustments to a website's design, copy, and user experience in order to increase the conversion rate of a product or service.
CRO aims to improve the proportion of users that carry out a desired activity, such as installing an app, subscribing to a newsletter, or making a purchase.
Conversion rate optimization is important because it allows you to lower your customer acquisition costs by getting more value from the visitors and users you already have.
It can also boost revenue by increasing conversion rates, which make it easier for users to complete desired actions such as making a purchase or signing up for a subscription. It has the potential to improve user experience, which is critical for growth and customer loyalty.
In order to improve conversion rate of an ecommerce site we need to break it down into individual pieces (pages or screens), and each page or screen also can be organized into specific sections.
This is the UX map which can then be used with specific test plans for each section on how to design tests to understand user behavior and improve the performance.
Designing an AB test (experiment) involves several key steps including defining the problem (or hypothesis), defining the variants, the sample size, duration and success goals.
Once the test has been designed and built we can schedule it for running and capturing data over the duration and looking for the 90% or above confidence level in selecting a winner. AB test software providers have a wealth of data on best practices well worth the read.
Heatmaps
Other ways to measure and view performance of your pages is by using Heatmaps to view the movement of users on the page.
Heatmaps can provide insight into why a specific page or block of a page is performing well or not based on what the user is seeing so it’s an additional data you can use to design future AB tests.
CRO can be a complex and time consuming process and sometimes the best practice option is to hire an outside agency to handle it for you. Another advantage of hiring an agency is you don’t have to actually pay for the tools which can often be costly.