When website visitors takes an action on the website that you want them to take is called Conversion.
And the system of increasing the percentage of visitors to take the action that you want them to take is Conversion Rate Optimization.
To discover what really works in optimization, Marketing Experiment has developed a practical form of analysis which is centered on an empirically derived model of human behavior, motivation and decision making consisting of a small set of core principles, or “heuristics”. It’s not an equation to solve, rather than it’s a heuristics which is an approach to solving a problem by using practical experiments.
Conversion Sequence Formula:
C = 4m + 3v +2(i-f) – 2a
Wherein:
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 a process
a = Anxiety about entering information
4m: Motivation of Customer
The weightage of motivation is the highest, as a highly motivated customer will surely neglect all other element to take a desirable action on the website. As Motivation is the single intrinsic factor and it cannot be changed. That’s why it’s the responsibility of a digital marketer to gain the understanding of customer’s motivation and shape them into natural motivation.
3v: Clarity of Value Proposition
The answer to value proposition lies in a question which you have to answer yourself “Why should your ideal prospect buy from you rather than any of your competitors?” The Clarity of Value Proposition is the most crucial steps because it reflects what service you are offering.
2i: Incentives to take action
You use an incentive to reduce friction element on the website. These are offers additional to the core value proposition such as a time-limited offer or bonus if the action is taken.
2f: Friction element of process
There are numerous friction elements presents in the landing page that holds the user to convert. We cannot completely eliminate friction element from website, although we can overcome it.
For example:
- Length of the landing page.
- Difficulty of page loading.
- Number of fields in a form.
Note: How in the Conversion Sequence Index, incentives can overcome the friction.
2a: Anxiety
Psychological concern stimulated by a given element in the conversion process. Anxiety is present in the mind of people as anxiety. Anxiety is a negative factor that reduces the likelihood that your customer will fill the lead form.
According to an experiment, most of the people will directly look forward to analyzing the right part of “conversion sequence heuristics”. But it’s more important to look into the left part of Conversion Sequence Index.