You should put KPI metrics, which is used to determine your performance against your business objectives. Number of metrics can be used such as visits, page views, bounce rate, conversion rate, average order value etc.
How are you collecting data? In a matter of monitoring customers and their behaviors you should collect data. You can use Google Analytics to focus on your main traffic sources and monitor your metrics. You are able to segment your customers and see how they behave different on your webpages. You can also create surveys for new CRO testing ideas.
Then, it is time to analyze the data you have collected. So as to analyze and report conversion rate, do not forget to focus on the conversion rate each goal for each target market.
After analyzing, you need to take important decisions and form a hypothesis. The hypothesis will be better after you collect more data upon metrics.
According to data analyze and hypothesis creation, now it comes to find out wireframe of the new page. The design of this wireframe should be designed to be more reliable, convincing and user-friendly.
So you have already known the most important step of conversion optimization: A/B testing. You should perform A/B tests on your webpages. Performing A/B testing on webpages does matter to provide conversion optimization. To make a successful A/B test, you need to understand who your target customer is. Popular A/B tests may not fit in your website and your target customer. You should understand what the test is, why you are running it, how it fits into the website and more importantly how you will measure the success. A/B test results will show you which version generates more conversion.
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In an e-commerce or a content website you have visitors coming to your website and leaving. You typically do not want to lose your visitors in a short period of time. You either want them to stay longer in your website to read more articles/news if you have a content website or you want them to buy items rather than just to take a look at them if you have an ecommerce website. Well, the fraction of those who make you happy to all the visitors gives you the conversion rate, hence naturally any content or ecommerce website owner wants to maximize this fraction (conversion rate) because it is a crucial indicator for any ecommerce or content website owner.
Real-time user behaviours on your website per user.
KPI based analysing on conversion funnel.
Hypothesis, targeted user actions and testing.
Conversion lifecycle, triggers and returning visitors.