Conversion Rate Optimisation
We nurture a culture of constant improvement
Conversion rate is one of our key business drivers. Simply put, “conversion rate” is the rate at which your customers successfully complete one of your critical business goals. In retail, this would be a successful sales transaction. In financial services, this might be the completion of a successful loan application.
Understanding how to encourage more conversions – from browsers to buyers, for example – will allow businesses to increase their profitability by clearing away obstacles to conversion.
We have a structured approach and methodology to the process of conversion rate optimisation. First, we:
- Understand the real business issues. Often the stated business problem is not the real problem. We find out what is.
- Calculate the performance gap. We diagnose with our clients how well their current operation is working, and then using our benchmarking capability, we figure out where they could be.
- Define the Action Agenda. The action agenda is our list of prioritised improvements to be made, drawn from all our research findings. It is the core of our approach.
- Set specific targets. Many of our clients’ past problems have come from not being specific enough about their own metrics and online business goals. We ensure we are crystal clear about what we set out to achieve.
- Get the reporting sorted out. In our experience more than 90% of analytics tools have not been correctly implemented or configured correctly. Part of our conversion rate optimisation program will fix this problem.
- Setup the optimisation team. Our approach is ultimately about the expertise brought to bear through our people. We aim also to ensure that the appropriate people are in place with our clients to ensure a successful result.
- Work the plan, month by month. Our work is about constant improvement. You don’t get fit by going to the gym once. We work our plan month by month, constantly measuring and evaluating our progress with our clients.
