Conversion rate optimization involves analyzing each step of the user journey to improve the percentage of users who complete desired actions.

When trying to improve a conversion rate, you're aiming to increase the efficiency of moving users from one step to the next in the conversion funnel.

Mapping out the conversion funnel helps identify unnecessary steps that can be eliminated to improve user experience and conversion rates.

You should only work on improving your conversion rate if you have a leaky bucket, meaning you're losing users at a significant rate.

The virality of a product can be assessed by its conversion rates at each step of the user journey, from invites to sign-ups.

Acquiring better users is essential; targeting the right customer can significantly improve your cohort retention rates.

It's a common mistake to assume that paid acquisition costs will remain constant; in reality, it often becomes more expensive to find and convert users over time.

Improving conversion rates primarily focuses on landing pages, but the principles can enhance any user interface.

When measuring customer acquisition cost (CAC), focus on active, monetized users rather than just sign-ups, as many may drop off shortly after registration. This ensures you're tracking the cost of retaining valuable users.