Conversion Rate Optimization 101: Essential Terms Part 2
Conversion rate optimization is one of the best ways to make sure there is consistent traffic, which can lead to an increase in profit, on your website. With it you can gain access to customer insight and find ways to improve the online side of your business. CRO can be the best option to achieve maximum success for your business website. Of course, there are terminologies one must know before venturing into CRO. Previously, we’ve presented six terms to assist you in learning and understanding CRO jargon, and here we give you five more.
Full Factorial Multivariate Test
CRO consists of various tests which can be tailored to the type of website you run. Full Factorial Multivariate Test is one of them. It is an experiment wherein more than one element or section of a page is changed to create multiple variations of the original. Visitors are then randomly directed to every possible combination of the modified sections of the page. In essence, what happens is you decompose a Web page into distinct units to create variations of those units. In multivariate testing, you basically split the traffic between different versions of the page to see which combination produces the highest conversion rate, much like A/B testing.
Funnel Testing
Another type of CRO test that experiments on more than one page of a website is Funnel testing, also known as multi-page testing. Similar to A/B testing, this test makes variations to a single page. The changes made are implemented consistently over several pages. With the help of this test, you are then able to track the way visitors interact with the different pages they are shown, which can make you determine which design style is the most effective. In order to obtain a usable data, it is a must that you ensure visitors are looking at a consistent variation of pages. It is simple in concept and can provide meaningful and reliable data quickly and with such ease. The best element of this test is it creates a consistent experience for the user.
Testing Hero
Simply put, a testing hero is a person who brings in very beneficial wins to the organization through encouraging data driven business decision and testing strategy. Also known as Testing Evangelist, this is a word widely used in the world of CRO due to the person’s ability to understand what is possible through testing. They can also creatively implement the test with a guaranteed successful overall outcome.
Visitor Segment
Since CRO revolves around visitors and their behaviour towards your website, it is likely to form a common characteristic for each visitor. Visitor segment is a group of visitors who are defined based on their shared demeanour. This is used when analysing the results of an experiment to get a rawer or rougher look into what experience each type of visitor prefers.
Variation
Depending on how simple or intricate you want it to be, a variation is a version of your page differing from the original or baseline. It could be as simple as a button or as drastic as a page redirect.
Knowing some of the most simple and essential terms about CRO is already a big step in internalizing how big of a success this process is. With this you are now well equipped, and the next step would be to put your newfound knowledge into action. You are now ready to gain more visitors and customers with the help of CRO.
