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Diagnose Website Conversion Rate Drop

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Your question is Diagnose Website Conversion Rate Drop. Take a moment with it on the right.

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Problem

Scenario

You are supporting the marketing analytics team for a B2B design software website. Over the last 10 days, the website conversion rate from visit to trial signup fell from 3.8% to 2.9%, while total sessions stayed roughly flat at about 420,000 per week. The drop started shortly after a homepage update and a paid media budget shift, and leadership is worried because trial starts feed the pipeline for products like AutoCAD and Fusion. The weekly business review is coming up, and you need a clear diagnosis.

Question

How would you analyze a sudden drop in website conversion rates?