What’s Conversion Rate Optimization?
(and more importantly, how can it help you grow our business?)
The official definition of “optimization” is the discipline of applying advanced analytical methods to make better decisions. Under this framework, business goals are explicitly defined and then decisions are calibrated to optimize those goals. The methodologies have a long record of success in a wide variety of industries, such as airline scheduling,supply chain management, financial planning, military logistics and telecommunications routing. Goals should include maximization of conversions, revenues, profits, LTV or any combination thereof.
Conversion Rate Optimization is the process of increasing website leads and sales without spending money on attracting more visitors by reducing your visitor “bounce rate”. A conversion rate is defined as the percentage of visitors who complete a goal, as set by the site owner. Some test methods, such as split testing or A/B testing, enable one to monitor which headlines, images and content help one convert more visitors into customers.
CroydonGate’s CRO team identifies pain points in the post-click user experience and corrects them. This is done through A/B Testing..A/B testing is a randomized experiment with two variants, A and B, which are the control and treatment in the controlled experiment . It is a form of statistical hypothesis testing. In online settings, such as web design (especially user experience design), the goal is to identify changes to web pages that increase or maximize an outcome of interest (e.g., click-through rate for a banner advertisement). Formally the current web page is associated with the null hypothesis.
As the name implies, two versions (A and B) are compared, which are identical except for one variation that might affect a user’s behavior. Version A might be the currently used version (control), while Version B is modified in some respect (treatment). For instance, on an e-commerce website the purchase funnel is typically a good candidate for A/B testing, as even marginal improvements in drop-off rates can represent a significant gain in sales. Significant improvements can sometimes be seen through testing elements like copy text, layouts, images and colors.
A/B testing as a philosophy of web development brings the field into line with a broader movement toward evidence-based practice.
Our CRO team works with you to clearly identify your business’ primary goals and objectives and we then work through in-depth testing to achieve them. Steady and comprehensive A/B testing helps to identify robust means to improve upon current pages.