Show stakeholders how site speed improvements can increase revenue.
After a lot of hard work, you've done it. You've made your company's site noticeably faster. Now it's time for the fun part: showing stakeholders how much extra revenue your work has generated!
In this post we'll walk through how to do that by calculating the relative mobile conversion rate. This metric is useful because it quantifies the effects of site improvements while excluding external factors like marketing campaigns, which can obscure your findings. Let's get started!
Relative Mobile Conversion Rate (Rel mCvR)
A site's conversion rate can be influenced by site characteristics— like speed and usability—and by external factors—like marketing campaigns, seasonal events, and the mix of marketing channels.
Since you're interested in how site speed affects conversions, the mobile site is most relevant— that's where you're most likely to see the benefits of speed improvements. Rather than looking at the mobile conversion rate alone, though, you'll be analyzing the relative mobile conversion rate (Rel mCvR), which is calculated by dividing the mobile conversion rate by the desktop conversion rate. This approach reduces the noise from external factors, which tend to affect both desktop and mobile, and makes it easier to see whether any increases in the mobile site's effectiveness were actually caused by the speed improvements.