20 Conversion Rate Optimization Terms to Know

During the latest #CROchat we discussed how many companies are starting to investigate and adopt conversion rate optimization (CRO). The pool of optimizers is growing every day, and the current community is ready to welcome the new faces with open arms (We promise, CRO is a hazing-free zone!).  

I put together this list of acronyms and definitions that I believe will be helpful to online marketers who are venturing into conversion rate optimization for the first time.

10 acronyms often heard in conversion optimization conversations:

CPA - Cost Per Acquisition

CPC - Cost Per Click

CRO - Conversion Rate Optimization

CTR - Click-Through Rate

KPI - Key Performance Indicator

LPO - Landing Page Optimization

MVT - Multivariate Testing

PPC - Pay Per Click

ROI - Return on Investment

SEO - Search Engine Optimization

10 terms often heard in conversion optimization conversations:

A/B Testing - Simultaneously testing two web pages against each other to determine which performs the best

Above the fold - The area of a page that is visible without needing to scroll (varies by browser resolution)

Challenger - A new test launched against a Champion

Champion - The winner of any given test

Click-through rate - The ratio of clicks to ad impressions (total # of clicks divided by total # of impressions=click through rate)

Conversion rate - Percentage of visitors who take the desired action on a page (total # of conversions divided by total # of unique visitors=conversion rate)

Innovation test - New Challenger pages to test against current Champion pages, where the Challenger is significantly different from the Champion (think apples against oranges)

Iteration test - New Challenger pages to test against current Champion pages, where the Challenger is iteratively different from the Champion (think varieties of apples)

MVT - Testing  many variables on a page to determine which combination of variables convert best 

Segmentation - Grouping audience into two (or more) categories of users based on their needs

Uniques/Unique visitors - A unique visitor to a page or website

What would you add to this list to help your colleagues enter the world of conversion optimization? If you’re new, what are some terms you would like explained? We’re here to help!