Chemists working in a lab knows there are many complex reactions which cannot even be balanced and fully understood but they can predict the speed rate of the reaction by knowing the single slowest part of it. This way they can even speed up the process and slow it down by simply applying a suitable catalyst.
Same is true with an assembly line producing car, bicycle or any other engineering good. The rate of producing the outcome is independent of the complexity of the processes involved. It only depends on the slowest of them all. If you can figure out the slowest process you can control the speed of the outcome.
The principle and its application goes far beyond manufacturing the chemicals in a lab or goods in a manufacturing plant. If a panel of judges not knowing each other are giving marks for a performing contestant. A single, the most sensitive one, who uses maximum variation on scale would be deciding the outcome of the whole event, provided we assume others are behaving predictably or you may say they choose what you and most would choose and ignore what you and most would ignore !!
On the web we have many tools to identify which part of the funnel is slowest to pass through the conversion stage, and we have many tailor-made solutions for them too. Google analytics does a decent job figuring them out and any person having report in his hand gets creative enough to think of the probable solutions. Not a tough job!! Through some hits and trials and playing around with presentation people do improve upon some parts of the abandonment phases in the funnel.
However, the improvement in the eyes of cruel judges who holds the key to winning the war on the internet is not an easy task. They see what you can’t see. They figure out what you can’t figure out. They are the people who choose others over you. They are the people who leave you for something better than you. They are the people who goes to your competitor. You should look appealing to the most cruelest of them all. The most abnormal ones, the most weirdest of them all. Make these people speak about your site, through all around feedback. You won’t get clue about them from any analytics tool on this earth. It has something to do with feedback gathering mechanism.
Feedback is more important than routinely analyzing stats about traffic and conversion. Create occasions to make people speak. Get yourself into a ring with your competitor and ask people to rate. Hear the harshest voice from all around. If you want extraordinary success, you need to think beyond what you yourself and people like you think.