A conversion rate optimization experiment facilitates faster conversion rate provided it is done the right way.
What do you want the most from your business at the end of the day? Of course, profitability. But why is it that you struggle the most there? Nabler’s Conversion Rate Optimization specialists use your data for evaluating and maximizing your website to drive your visitors towards your business goals.
Could the conversion rate on your website be playing truant?
For your online business, website optimization comes by monetizing your visitors by engaging them in action on the website. The ratio of visitors who engage in this call to action, compared to the ones who don’t is conversion rate. Optimizing this conversion rate is important to lower your customer acquisition costs and get more value from the visitors and existing users. It is simple. Higher the website conversion, better your business performance.
So, before you freeze your hypothesis, make sure you have a spot-on strategy for running your conversion optimization experiments, that involve the right conversion metrics. It could mean thorough and repetitive testing.
If you are confused regarding the type of testing that would work best for you, for a higher conversion rate, the great news is, that you are not really required to either pick multivariate testing or split testing. You can deploy both. Split tests run quicker and help you draw larger gains, while Multivariate tests give you a peek of the multiple changes. But irrespective of the test you run, the basic process flow of conversion optimization should be as shown below.
Alright then, you have your test and you have your process flow for better conversion rate. What’s next?
Run this quick check-list before you start your CRO Experiment.
Sample Size
Although calculating sample size is no longer mandatory, having a healthy sample size is quintessential for accurate statistical inferences. A common scenario with organisations is that they run multiple tests year after year and despite having winners, the conversion rate remains stagnant. One of the reasons could be a very small sample size and consequently not enough evidence to conclude that the results you are getting are because of a real difference between the original and the variant or just a matter of coincidence. Running underpowered tests drain precious resources and don’t give website conversion in return.
The table below highlights an average sample size required for an accurate level detection.
Concentrate on user experience
How many times have you stopped navigating through a website in frustration due to lack of a seamless flow? Your website experience needs to be pleasurable for the visitors. And trust us, that hugely influences whether they will buy a product or sign up for a service. We strongly suggest you experiment with images, colours, phrases and other relevant conversion metrics for website conversion. You need to be mindful of a few things like what are the visitors looking out for, why are they here, how did they get there and what was their journey like. This will be the foundation of the conversion rate optimization test.
Target the right Audience
Depending on the size of the audience, you may want to segment it or not. If you gather a considerable amount with a section of your traffic, then you can segment your audience. If not, then going with the complete audience is fine. If a test affects new and existing users in a significantly different way, then apply your variation to that specific user segment for conversion rate and website optimization.
The segmentation to consider is;
Demographical, geographical and behavioural.
Call to Action
Website optimization calls for landing pages having a single CTA (call to action) instead of many that can confuse and overwhelm the visitor. In fact, it should stand out on the page with prominent colours and correct positioning, with other distractions like sidebars, links and navigation tools and anything with negative connotations cleared out.
The time factor
A lot of tests reveal that a conversion rate indication at almost 90% confidence ends up losing badly after giving it a chance. This is because of the test being called too early. It is not advisable to call tests before you reach a 95% or higher (leaving only 5% at odds) no matter how much excitement it sparks off.
Test individually for each campaign
Friction must be reduced between ads and the pages in the funnel. Hence having individual landing pages for each campaign and for each different market segment is required for the desired conversion rate.
Manage the tracking pixels.
Tracking pixels are tools used to acquire data and create custom audiences. The information they generate help you plan your online offers and based on that you can dish out successful campaigns. Hence you need to manage these tracking pixels in the experiment that give you the statistics about customers that visit your site but don’t take the required action, the visitors who sign-up but don’t make the purchase etc.
Test your funnel top to down.
You are now good to get started with your experiment. And what will follow is website optimization with the desired conversion rate, giving you the profitability, you seek. Just in case you get stuck we are just a click /call away.
The traffic that reaches your landing page is totally independent of the user behaviour, whereas the other individual pages automatically record lower traffic based on the conversion rate. This is the reason why you need to run the test on each of your landing pages.
Once you achieve the desired conversion rate, there is enough traffic in your funnel and you can test the pages in detail.