The new forms increased conversion rates from 5 to 7.3 percent in one stream of traffic and from 10 to 12.5 percent in another stream of traffic. In the world of conversion rates, that is excellent improvement.
At first, however, it was not clear which change was contributing most to the success. With detailed statistical analysis, it became clear that only reworking the text at the top had a significant impact. Here's one of the variations showing the bulleted list at the top instead of a wall of words.
Usability testing with eye-tracking supported the conclusion from the conversion rate study. All the participants in the usability test preferred the bullet points.
See Jarrett and Minott, 2004, for the complete story of this study.
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