From the course: Marketing: Conversion Rate Optimization
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Quantifying the impact of testing
From the course: Marketing: Conversion Rate Optimization
Quantifying the impact of testing
- [Instructor] As a business leader, you have one main objective, get results. But how do you know if your test ideas will move the needle? Is your marketing campaign going to prove to be ROI positive at the end of the year? These are questions you're forced to answer with CRO. That's why I start with the end goal in mind, by building a conversion calculator to quantify the impact of testing. And in order to project the results of a CRO program, you need to model out a couple scenarios based on the as-is state of your website. For eCommerce companies, you can start by pulling the following metrics from a data source like Google Analytics or your Shopify dashboard to build your conversion calculator. You're going to need monthly traffic volume, your average order value, and your average purchase conversion rate. These stats will allow you to model if a lift in conversions would have a significant impact on overall revenue.…
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