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In this tutorial on conversion rate optimization, the speaker presents a four-step framework aimed at converting traffic cost-effectively, emphasizing its importance for gaining a competitive advantage online. The session highlights the need for quick wins, showcasing a cross-channel conversion action plan that encompasses a comprehensive website review. An example is given where analysis of device performance reveals that the Samsung Galaxy S10 does not convert due to a non-functional button. After making necessary updates, the site increases revenue by $50,000 monthly, translating to over $600,000 yearly, all achieved without additional spending. The tutorial reinforces the value of optimizing conversion paths for better results.