The Art & Science Behind Increasing Conversion Rates
In Internet Marketing, the term Conversion Rate Optimization (CRO) is used to describe a system for increasing the percentage of visitors to a website that convert into customers, or more generally, take any desired action. At UX Team, we are true believers in using this proven, scientific formula for optimizing conversion rates developed by MECLABS Institute — a research laboratory dedicated to discovering what really works in online marketing.
The Conversion Rate Optimization heuristic formula is expressed as C=4m+3v+2(i-f)-2a, where:
C = Probability of conversion
m = Motivation of user (when)
v = Clarity of the value proposition (why)
i = Incentive to take action
f = Friction elements of process
a = Anxiety about entering information
We apply this formula to all our design decisions because it not only acts as a good checklist but it helps remove opinions from influencing important design decisions.