*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.

1. HOW TO CONVERT
VISITORS TO
CUSTOMERS

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

4. Conversion funnel example

5. 2.2%
Avg. S/U conversion rate on e-commerce sites 2014
#smartinsights

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.

10. Figure out what
works, do more of
that
Chris Neumann

11. Marketing Product
CRO
Chris Neumann

12. Don’t assume,
use science

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

15. CRO Gains
Why do we do CRO?

16. Improves any
metric on your
website

17. Super high ROI,
super
measurable

18. Increases new
customers,
registrations,
downloads

19. Creates the must-
have user
experience

20. Builds long-term
business value

21. build optimize drive traffic
Optimization before marketing

22. Conversion Method
How to apply CRO to your startup website or app?

23. “
“a method of using science and tools to
continuously improve the performance of
your website or app”

24. Conversion Rate Optimisation Method
Plan
Investigate
Ideate
Experiment
Collate

25. STEP 0:
PLAN
Define Scope. Create Focus and Directions

26. Figure out what
doesn’t work

27. Dave McClure

28. Example AARRR metrics
Dave McClure

29. STEP 1:
INVESTIGATE
Understand User Behaviour

30. Figure out why
it doesn’t work

31. Quantitative tools

34. Qualitative tools

35. Xeneta demo
Usertesting.com demo

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

37. STEP 2: IDEATE
Create your hypothesis

38. Come up with ideas
on how to fix it

39. Everything is an ASSUMPTION
Change Page Layout
New Header copy
Remove functionality
Add new CTA
Insert Video on page
Add trust badge in footer

40. Your Hypothesis
Change you want to make will lift conversion rates for Signups / Product sale

41. STEP 3:
EXPERIMENT
Setup Your A/B Test (or A/B/C/D Test)

42. Test your ideas

43. Basic A/B testing

44. Variants

45. Experimentation tools

46. Optimizely result example

47. STEP 4: COLLATE
What have we learnt? Analyze and implement

48. Summarize results and
add to roadmap

49. Compare conversion rates from planning step

50. Collect results and compare effort vs impact

51. Use your testing
tool as your CMS

52. Thanks!
Any questions?
You can find me at:
@espengrimstad
espen@experiments.no