Conversion Rate Optimisation (CRO) is the process of optimising web pages and/or page elements to increase conversion rates. This normally involves running A/B tests or split tests with two different versions of a page competing against each other. Traffic is divided equally between the two variants to see which version achieves the highest conversion rate, once statistical significance is reached.
That last point about statistical significance is important and it relates to the biggest mistake brands make with conversion rate optimisation.
Conversion rate optimisation is a data-driven strategy which means you need good data going into your tests and good data coming out of them.
Before you dive into testing, make sure you have the following in place:
Too many brands and marketers jump into conversion optimisation without having the right data processes in place – and this is setting yourself up for failure. Poor data delivers unreliable results and potential false negatives that could cause more harm than good to your conversion rates.
When it comes to running A/B tests, the biggest challenge is making sure you achieve results you can actually trust. This is where statistical significance comes into play, which describes the reliability of your test outcomes. Ideally, you should be aiming for around 97+% statistical significance and anything under 95% starts to compromise your results.
When the test comes to an end and you have a clear indication there is a winner out of the two variants, you should break down your conversion data into specific segments like traffic channels, device category, and user demographics. This will help you when reporting on your conversion rate because it will reveal specific user types that are converting at a high percentage, or users of a different type that are not, which will offer you invaluable insights into your digital product performance and areas that need improving.
Here some things to keep in mind:
Conversion rate optimisation is an ongoing strategy that turns data into better business results – as long as it’s done correctly. If you have any doubts about your CRO strategy or want to know more about getting started, call us on 02392 830281. Or you can learn more about our CRO services here.
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Categories: Content Marketing, Design, SEO
Categories: CRO, Design