Table of Contents

1. Curated Careers

2. Trends and Tidbits:

   • WTH is the Conversion Rate (CVR)?

   • Step-by-step Conversion Rate Optimization (CRO)

   • CRO Checklist✅✅

3. AI Arena:

   • Top AI tools of the week

   • Behavioral Analyzer GPT

4. Interesting reads for the week

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➡️ WTH is Conversion Rate (CVR)?

Imagine you've set up an Ice-cream stall 🍨❄️

Your tagline says “Homemade super healthy milk ice cream: no chemicals!”🥛

You get 100 people walking by.🚶‍➡️🚶‍

But only 10 of them buy your ice cream. Your Conversion Rate is the percentage of those who make a purchase out of the total visitors.

So, here your CVR is 10%.

In the world of digital marketing, CVR is the percentage of visitors to your website or landing page who complete a desired action —

• Make a purchase

• Fill out a form

• Sign up for a newsletter

• Downloading an app or an asset

Here’s a simple formula to calculate CVR—

It's the magic metric that can single-handedly measure the effectiveness of your marketing campaign. And if you are getting high traffic with low CVR on your website?

Ahem… there, we have a problem!

No, not you. Your website.

Good news is → You’re already getting traffic.

Bad news is → Your traffic (read visitors) either does not like what they see OR they are not able to navigate through it. If you want are okay with taking the blame on yourself — you don’t know how to optimize the conversion rate 🤷

Well, don't worry! I got you 🫸

We will learn how to increase your conversion rate.

Before that, you must ask “What does a good conversion rate look like?”

so that you can set a realistic goal.

Let’s take the help of some stats for that. Below is a survey on the online shopping conversion rate in selected verticals worldwide in the 1st quarter of 2024 (a pretty recent survey for you!) by Statista.

2%? Only? Out of 100 visitors, only 2 convert, at max? That’s it?

It might seem a bit disappointing. But, the metrics vary a lot from brand to brand. According to Stepofweb a CVR between 2% to 5% is considered good enough, when we are talking about converting visitors into paid customers.

So, now let’s get into improving your conversion rate…

➡️Why do Conversion Rate Optimization (CRO)?

First, understand this.

Your website is like a dating profile.

You need to make it presentable & charming.

They arrive full of curiosity and hope, ready to engage or purchase.

So, it needs to attract, engage, and convert visitors into loyal customers.

→ If the experience is less than stellar, they leave ⚠️

But, if you are able to make them stay and increase the rate of the number of people who stay (and purchase) — you will make more money without having to spend more to get them on your website.

And, could happen just by tweaking how your website appears and performs.

— ”But, Deep, I don’t know how to do that.”

If that’s you, no worries!

We researched 15+ resources, numerous blog posts, and dedicated courses on CRO to write a series of 3 newsletters that will make you a CRO champion. We will dive deep into the process of CRO step by step.

To start with, let’s first see the steps we follow —

➡️How to CRO? (Step-by-Step)

Do you know the one important mantra in Toyota’s success? It’s Kaizen.

• Kai =”change”

• Zen =”for better”

They have instilled a “Make small improvements every day” culture.

Conversion Rate Optimization is pretty much that:

A continuous process of improving your website / webpage / landing page or any other digital asset, part by part, element by element by testing different ideas ultimately increasing your conversion rate.

And, optimizing your CVR isn't a one-time task.

It's an ongoing process of understanding your audience, testing, and refining.

First of all, you must understand the touch-points in the process—

Now that you understand the touchpoints, just by following the steps outlined below, you'll be well on your way to turning more visitors into customers.

• Step 1: Understand your customers

• Step 2: Create a killer landing page

• Step 3: Testing & Analysis

• Step 4: Reassessment

• Step 5: Retargeting

We went on further to create a complete checklist with all the sub-steps for all the above steps. Download this checklist, so that you can come back to it throughout your CRO journey.

[If you want a downloadable PDF of the below, reply to this email with “pdf”]

~ Okay, but how do you work on these steps, you did not explain them, Deep!

Well, yes, I want you to become a complete CRO champion 🏆

And for that to happen, just an overview won't be enough!

That's why we planned a series of newsletters. Each explains one step in the CRO process.

In the next issue, I’ll clarify —

• How the heck do you understand your customers?

• What is behavioral analytics?

• How to use heatmaps, click maps, and session recordings?

• What tools should you use?

Look out for the next issue, where we discuss Understanding Your Customers.

But if you like this so far, respond to this email with your thoughts. It’s too lonely on the other side of this email, so just let me know :)

In other thoughts…

Why freemium works — Source Ariyh

As part of a series of 4 experiments, participants compared & chose between…

• A free basic plan

• Cheap paid plans (example $2)

• Premium plans (example $14)

  
  for a fictitious video streaming platform.
  
  Here’s what researchers found:

• 47.4% more people signed up for the free basic plan.

• People rated the benefits of the free service 18.4% higher and

  • were 11.2% less negative about the non-monetary costs (ads).

• People using the free plan were 25.1% more willing to accept ads.

The human psychology behind this is a bit tricky. Here’s why it happens —

🧠 Reason: 

When something is given to us for free, we are aware that nonmonetary costs usually come with it (e.g. having to spend time watching ads).

We consider these costs less significant when we’re receiving a free service, making us more accepting of them.

Btw did you know that you can automate 50% of your daily tasks?

That’s so much saving of time to finally focus on what matters.

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➡️Behavior Analyzer GPT

This prompt helps in the data analysis of behavioral analytics in csv files. It takes the input as the csv file (directly exported from your analytics tool) and suggests edits and changes for the webpage.

Copy and paste the below prompt into your chat GPT, add the csv file and you’re all set.

Prompt:

Act like an expert UX/UI designer and data analyst. You have 20 years of experience in optimizing websites for higher conversion rates using behavioral analytics data. Your task is to analyze provided CSV or Excel files containing user behavior data from webpages and suggest specific improvements. Follow these steps:

Data Analysis: Examine the user behavior data, focusing on metrics such as bounce rate, time on page, click-through rates, user flow, and conversion funnels. Identify patterns or issues in user engagement and drop-off points.

UI/UX Recommendations: Based on the data analysis, suggest specific UI/UX improvements. This might include changes to layout, navigation, color schemes, button placements, and other design elements that can enhance user experience and engagement.

Content Optimization: Identify content that needs replacement, relocation, or improvement. Suggest changes to text, images, videos, and other media that can lead to better user retention and conversion.

Prioritize Changes: Rank the suggested changes based on their potential impact on conversion rates and ease of implementation. Provide a step-by-step action plan for implementing the changes.

Feedback and Iteration: Propose a method for testing these changes, such as A/B testing, and describe how to iterate on the design based on user feedback and new data insights.

Please provide your suggestions in a clear and structured format. Feel free to use bullet points, tables, or any format that makes your recommendations easy to follow.

Take a deep breath and work on this problem step-by-step.

🔗 How to replace siri with chat GPT → Link

🔗 Achieve a Good Work-Life Balance in 2024 → Link

🔗 50+ Best Viral Marketing Campaign 2024→ Link

🔗How movies have engaging color palette → Link

🔗 In conversation with LinkedIn’s viral creator Jasmin→ Link