These methodologies, or “conversion optimization” methods, are then taken a step further to run in a real-time environment. The real-time data collection and subsequent messaging as a result, increases the scale and effectiveness of the online campaign.
Conversion Rate Optimization seeks to increase the percentage of website visitors that take a specific action by methodically testing alternate versions of a page or process. In doing so, businesses are able to generate more leads or sales without investing more money on website traffic, hence increasing their marketing return on investment and overall profitability.
A conversion rate is defined as the percentage of visitors who complete a goal, as set by the site owner. Some test methods, such as split testing or A/B testing, enable one to monitor which headlines, copy, images, social proof elements and content help one convert more visitors into customers.
There are several approaches to conversion optimization with two main schools of thought prevailing in the last few years. One school is more focused on testing as an approach to discover the best way to increase a website, a campaign or a landing page conversion rates. The other school is focused more on the pretesting stage of the optimization process. In this second approach, the optimization company will invest a considerable amount of time understanding the audience and then creating a targeted message that appeals to that particular audience. Only then would it be willing to deploy testing mechanisms to increase conversion rates.