*What is CRO? *CRO gains *When to do it? *CRO stack / tools
Learn how to make your website visitors and mobile app users do what you want them to do using Conversion Rate Optimization (CRO), or growth hacking..
This slide deck is part of the "Inbound Marketing & Growth" seminar held on Jan 20 2016. The seminar covered the topics Attract, Convert and Satisfy and this was the presentation for the Convert stage.
2. Hello!
I am Espen Grimstad
Serial Entrepreneur, Product
Manager & Conversion Optimisation
advisor / Experiments AS
linkedin.com/in/espengrimstad
@espengrimstad
espen@experiments.no
3. What is your Conversion rate?
Conversion Rate =
Number of actions
Total of unique visitors
x 100
6. Why look at conversion?
Users 500k
S/U Conversion rate 2%
Units sold 10,000
Unit price 800
Revenue 8m
A website or app has
500k users over a
period, and a
sales/users conversion
rate of 2%.
7. Why look at conversion?
Users 500k 500k
S/U Conversion rate 2% 2.5%
Units sold 10,000 12,500
Unit price 800 800
Revenue 8m 10m
Keeping everything else
the same, they improve
their conversion rate
with 0.5% and increases
their revenue with 2m
8. Why look at conversion?
Users 500k 500k 500k
S/U Conversion rate 2% 2.5% 3%
Units sold 10,000 12,500 15,000
Unit price 800 800 800
Revenue 8m 10m 12m
Increasing
the
conversion
rate to 3%
gives 12m
revenue
9. Why look at conversion?
Users 500k 500k 500k 1m
S/U Conversion rate 2% 2.5% 3% 3%
Units sold 10,000 12,500 15,000 30,000
Unit price 800 800 800 800
Revenue 8m 10m 12m 24m
An increase in marketing efforts doubles the # of users. After
the increase in conversion rate it results in 24m in revenue.
13. “Your business exists to make money.
Conversion optimization makes your
business more money.
If that’s not worth your time, I’m not
really sure you got your priorities
straight”
Peep Laja
14. ■ What is CRO?
■ Gains
■ Method
■ Tools
Conversion agenda
36. Tester’s written answer for Xeneta test
1. What frustrated you most about this site?
I would have liked to have had the products offered on the homepage with the bullet
points of what each product is for. This would help me decide straight away which
product I would want and want to look into more.
2. If you had a magic wand, how would you improve this site?
I would have added more screenshots of the software being used showing the layouts.
This would allow me to see how user friendly and easy to use these platforms would
be.
3. What did you like about the site?
I liked it had a clean and clear layout. It was not over cluttered with information.
4. How likely are you to recommend this site to a friend or colleague (0=Not at all
likely, and 10=Very Likely)?
6