2. Website: http://www.infiniteconversions.com
What is conversion rate and its Benefits
Conversion Rate Optimization is the practice of increasing the amount of online sales and leads
on a website or by increasing ROI for website without increasing the amount of visitors.
By optimizing or improving your web conversion rate you can get more people to take more
action without spending money on attracting more visits to your landing page or website.
Conversion Rate Optimization: Conversion rate optimization is the process of scientifically
changing elements of your website in an attempt to make your website more effective. These
elements can include but are not limited to web pages, landing pages, images, words and
processes used on your site, or simply taking away elements that may be hurting your page goal.
This process include by adding some the elements like button,GUI element so that your visitors
can be converted.
Conversion rate is different for different company because for some it can be subscribing of
newsletter, downloading of application or registering into the account. Conversion means visitors
do that what you want them to do. If it happens then conversion rate increases or visitor is
converted. This happens when traffic comes to your website. Traffic is only one component of
success, getting people to your site is necessary but if 98% (based on an average ecommerce
conversion rate of 2%) of those people are just getting there and not buying or signing up or
completing whatever your conversion goal you have for your website, you’re leaving money on
the table.
For this optimization we are using two types of testing:
1. A/B Testing or Spilt Testing
2. Multivariate testing
Now let us go through each of the testing one by one, In an A/B or split test there are two
versions of a web page, version A and version B. Version A is usually the control page, or the
existing page and version B is the alternative treatment or the challenger.
3. Website: http://www.infiniteconversions.com
The traffic is randomly split (50/50 although you can vary the split percentage) half of the traffic
sees version A and the other half sees version B until each version has enough traffic and enough
conversions for the test to be statistically valid and a wining version to be declared.
In a Multivariate test there are a combination of variables being tested. Traffic is also split
between the different versions in this type of test as well. For example let’s say you have 4
different headlines your testing and 2 different images and 5 different calls to action buttons on
a single page. Using a Multivariate test, this would generate 24 different combinations or
treatments. 4 x 2 x 5 = 40 (4 headlines x 2 images x 5 buttons) with each treatment a visitor
would see only one combination of elements and every possible combination (40) would be
included in the test. This is what’s known as a full factorial experiment. Then they will test up to
40 combinations.
4. Website: http://www.infiniteconversions.com
Benefits of Conversion Rate Optimization
In a nutshell, the biggest benefit is that it helps you generate much more revenue from your
website. Here are some of the many excellent benefits of doing CRO:
Generate more leads or sales on your website, with the same traffic you already have
(means you don’t have to spend more money on traffic)
Helps you maximize the return on investment from your marketing spend (paid search,
social media etc)
Improves your website so that it engages more visitors, and increases the chances of them
returning (cheaper than acquiring new visitors)
Will give you a competitive advantage if your competitors aren’t doing it.
It increases ROI for your business because it increases the traffic on website and helps to
generate the lead for website.
Now there are some examples that increases their revenue through CRO of their company:
1. CrazyEgg.com grew revenue 363% by doing homepage CRO .
2. GetResponse.com increased sign-ups by 153% with CRO
3. TheGuardian.co.uk increased subscriptions by 46% by doing CRO
4. SEOmoz.org generated an extra $1 million in sales doing CRO
Thank You
Infinite Conversions
http://www.infininteconversions.com
