6 Advanced Conversion Rate Optimization Strategies To Look For In 2019
Are you always worried about your customer leads even though you feel like your marketing strategy is on point? Are you struggling to increase your customer acquisition numbers even after surviving for more than a few years in the market? Are you tired of hearing your coworkers complain about lack of sales due to low lead generation?
Well, none of this should be surprising considering how about 40% of marketers have a less than 0.5% conversion rate, your company is also struggling to not be a part of that group.
The best solution to all your worries is to use Conversion Rate Optimization or CRO. CRO has been making progress of the past few years, making a name for itself due to delivering an average rate of return of 223% when utilized appropriately. CRO is a simple yet effective part of your digital marketing game and not only leads to an increase in returns, it also generates better customers, higher sales and improves your online presence.
So, if the plan is to work on improving your conversion rates and marketing setup, you could use the following advanced CRO techniques to help –
So, think about how a marketing funnel works. You have interested prospective users first who have merely discovered your website > who might buy your product, > that make a purchase > who come back for more.
Now, understanding each customer and their needs is an important aspect of CRO. You need to segment each user based on their usage history, demography, purchases or location. This not only allows you to reach a larger group of people at once but also makes targeting easy.
A blog that talks about problems faced by a mother and how your latest toddler cart helps solve them would not generate any leads if it is shared with 15-year-old kids. Moreover, you could also separate customers as per your marketing funnel and have separate online messages, targeted emails for each segment.
For example – More persuasion and incentives will be needed for a user that has just discovered your website as compared to someone who has already made a purchase.
Artificial Intelligence and Data-based analysis
Machine learning, Artificial intelligence, and Data analysis are tools that every businessman knows about nowadays since they form a major chunk of your CRO strategy in 2019 and improve your customers’ real-time experience. Machine learning will give you important metrics about your users and website visitors which can be used for more predictive targeting and pre-modeling service.
Moreover, you can use chatbots and reduce your customer service costs and have a more advanced approach to your users' issues and advice them accordingly. In fact, with the right usage of Artificial intelligence, you can have your own market basket analysis which points out prospective buyers on the basis of product associations and purchases made by one user.
For example – How likely is it for a buyer who purchased a pair of shoes to be interested in buying a savvy handbag once they come back for their next visit? Or how much incentive you need to give any interested buyer based on their prospective buys to convert them into a sure shot purchase.
With CRO being driven on data and segmentation, your website and marketing strategy need to use all information for an interactive approach with customers. Your competition has the same product that you do; it is the quality and customer service that will set you apart.
So, target more personalized emails with messages based on the segmentation strategy, use analytics to know your audience better and work on better sign-up strategies. You need to create more customized discounts, referrals, newsletters, recommendations, and blog posts to simulate purchases and visibility. Individuals should feel that they are important and are getting the best treatment on your platform. Your emails, posts and messages should be made on a one-to-one basis and grab the attention of the client. You could also use different referral or incentive setups for different groups of users to get more customers signing up to your portal.
Check and tweak the whole online experience
View what your customer would experience right from opening your website to making a purchase. This includes everything from the Opt-in form to the checkout process. To start, make sure your opt-in forms are not too lengthy and you have a single page or at max, a dual page checkout system.
Moreover, have detailed, simple and convincing product descriptions for each product with reviews being visible every time a user visits a product page. Have a wish list, add to cart and checkout button on screen all the times and ensure that you have a return policy in place.
Every user checks all of the above before even thinking about making a purchase. Also, make sure your website structure is mobile friendly along with having the best content displayed at all times. Use spell check, great graphics and customer feedback to improve your website interface.
Analyze it right
Conversion Rate optimization doesn’t stop, ever. You need to check where you are, where you want to be and if your goals are being achieved or not. Use HotJar as a heat-mapping tool or Quantcast Measure for demographics. You could always use Google Analytics to get all sorts of information about your website visitors and then work on your CRO accordingly. Bounce rate, exit rate, Click through rates and Average session durations need to be noted and checked for indications about user behavior. You could use platforms like Adwords, Facebook Ads, etc. to calculate your real-time conversion rates.
Your CRO strategy has to adapt to basic privacy regulations and work at par with Government rules. Cookie consent, third party analytics and legislations about audience response are all in play for any e-commerce business platform. Moreover, with data privacy, consent, and digital ethics being the topics of debates all over the world, you need to tweak your website to be user-friendly, make sure your customers know that your website is safe and work on gaining customer trust. As a CRO practitioner, this should be a priority.
The goal has to be anywhere at or above a 2% conversion rate which is highly achievable if you follow the right CRO techniques and focus on what needs to be done rather than what can be done. You want to be a part of the 22% businesses that are satisfied with their conversion rates and that is only possible if you use these advanced CRO techniques with utmost importance.
This article does not necessarily reflect the opinions of the editors or management of EconoTimes.