If you are a project founder or CEO, it is important to understand the importance of conversion optimization in order to maximize your user conversion rates. Conversion optimization is a continuous process of improving your users’ experiences with your product. It involves three levers: Focus, Motivation and Friction. This guide aims to provide an outline for how one should approach conversion optimization so that you can allocate resources wisely and prioritize efforts accordingly.
Deciding How to Allocate Resources Wisely
Knowing how to allocate resources when it comes to conversion optimization is key—it allows you to focus on areas where you’ll get the most return on investment (ROI). You should also consider allocating resources based on the maturity of the product as well. For example, if your product is at a more mature stage, then it may be wise to invest in maintenance and overall improvement rather than starting from scratch with a new feature set or redesign.
When it comes to prioritizing what lever should be optimized first, Motivation should be prioritized first followed by Focus and then Friction. Motivation changes typically revolve around messaging, pricing models and offers while Focus changes involve tweaking existing designs such as layout and labels. Friction changes are those that reduce friction within the user experience such as streamlining processes or removing unnecessary steps in a checkout flow.
Once you have identified which levers will give you the most return on investment, it’s time to ideate across each lever and think through potential opportunities for improvement. When ideating for potential improvements, both high-risk-big-changes and low-risk-small-changes should be considered so that there is consistent forward progress while still being cognizant of risks associated with bigger changes.
Auditing Funnel & Researching Audience
The next step involves auditing your funnel(s) in order to form hypotheses convertable into concrete ideas that can be prioritized & executed upon quickly & effectively. This step requires researching audience motives; considering others’ experiences; examining data; understanding current customer journey; analyzing customer feedback etc., After this step has been completed properly, only then can one start focusing on optimizing their user experience through testing various ideas & hypotheses in order optimize user conversions rates over time.
In summary, knowing which levers will give you the most return on investment when it comes to conversion optimization is key so that you can make sure your efforts are being used effectively and efficiently. Prioritize optimizing motivation first followed by focus then friction when going about making improvements as well as consider both high-risk-big-changes and low-risk-small-changes in order ensure consistent forward progress throughout the process of optimizing user experience for conversions rates increase over time. With proper research into audience motives coupled with auditing funnel & testing various hypotheses for optimization success can be achieved!