What is Conversion Rate Optimization?

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What is Conversion Rate Optimization?

Conversion rate optimization is a marketing optimization process that follows a framework to increase the percentage of visitors who complete a websites goal. Conversion optimization analyzes the behavior of visitors and focuses on what motivates a particular market segment to engage in a certain way with specific marketing elements.

Conversion Rate Optimization is focused on persuading more of your website visitors to take the desired action you want them to take on a webpage, website or within a campaign.

At a very high level, the CRO process involves:

Conducting hubristic evaluation to collect data about broken areas on your websiteConducting qualitative research to collect data about broken areas on your websiteConducting quantitative research to collect data about broken areas on your websiteConducting competitive analysis to gain insights of what is working on competitors' websitesCreating a conversion roadmap for your website (what pages need to be fixed)Determining problem areas on a webpagePrioritizing problem areas on a webpageCreating a testing hypothesisCreating new design based on the testing hypothesisConducting AB testing (or multivariate testing)Analyzing the testing results
As you read through the different chapters in this guide, you will learn about each of these steps in depth.

So, what is Conversion Testing?
Conversion Testing is the process of conducting an AB or multivariate test to increase the website conversion rate.

An iterative process by nature, CRO helps you in making assumptions about your website visitors and then testing these assumptions to measure how your market actually responds.

As a long-term process, CRO achieves sustainable, repeatable, and consistent increases on conversion rates through researching, testing, and analyzing visitors' behaviors on your website. A good CRO program increases your site's revenue month to month, reaching significant cumulative annual growth.

The best part? This result optimizes your current website traffic. More conversions, without the need of increasing site traffic.

The annual uplift in profits alone could should justify a CRO program implementation.

Essentials of AB Testing
But conversion optimization goes beyond the metrics and the profits.
source:invespcro.com