A conversion optimization project is typically divided into four different phases that intertwine:

Scrutinize stage: You conduct various activities to determine possible testing areas on a platform or campaign Hypothesis: you create a hypothesis for the different testing ideas identified during the scrutinize phase Implement: you validate your hypothesis through the process of AB or usability testing Propagate: you look for insights, share them within the organization, across marketing channels and verticals

As you go through the process of identifying conversion issues on your website (scrutinize), you can easily identify anywhere from 150 to 250 possible test scenarios. Shana Rusonis …

Wild guesses and opinions often only result in delusional outcomes. Though opinions are by far the most widely accepted truth, they rarely are factual. It is a better practice to lean on deductive reasoning and logic instead of guesswork. But how do you arrive at what is labeled as a fact or a valid statement? Experimentation is the key.

Businesses realize the importance of scientific experimentation and testing. Many product-based enterprises have embedded experimentation in their organizational culture. The reason – innovation cannot result without experimentation. Moreover, though there are millions of ideas that spur every minute, every hour, it …

There are few key performance indicators that everyone focuses on for an e-commerce store: conversion rates, average order value, and the number of monthly visitors, site revenue, and the cost per acquisition. These metrics translate into money in the bank (or lack thereof).

Each of these KPIs is influenced by a variety of other metrics that causes them to go up or down.

It is important to state that abandonment rates are incredibly site-specific. Establishing market standards for them is difficult. Each site, with its customer base and specific audience, will require its unique evaluation and solutions.

Bayesian versus Frequentist Statisticians: the war is real

Imagine that you wake up in the one morning and you don’t remember anything from your previous life. You’ve erased all memories from your previous days.

Pretty intense and terrifying, huh?

Well, that’s how Bayesian statisticians describe frequentist colleagues because frequentist statisticians do not use any prior knowledge. Everything you learn about the world is through the lens of events that are happening at the moment and currently.

Michael Hochster explains;

“The essential difference between Bayesian and Frequentist statisticians is in how probability is used.”

Did you know that 40% of people say they have purchased a product online as a result of seeing it being used by an influencer on social media? 72% of customers trust a business more after it is recommended by an influencer whereas 49% of consumers rely on product recommendations shared by influencers for their purchases.

Check out our infographic to know about the growing importance of social media influencers and how social media influencers impact online buying decisions.

More than (51%) half of retailers offer same-day delivery and 65% plan to offer it within two years. 49% of shoppers say that same-day delivery makes them more likely to shop online. Check out our infographic on the importance of Same Day delivery and latest same-day delivery statistics and trends.

Did you know that Influencer marketing delivers 11X higher ROI than traditional forms of digital marketing and 94% of marketers who used influencer marketing believe the tactic to be effective. 48% of marketers in the US who have used influencer marketing plan to increase their budget for influencer-focused campaigns. Check out our infographic on Influencer marketing to know the importance of Influencer marketing and latest influencer marketing statistics and trends.

Infographic by- Invesp Conversion Optimization Company

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