The goal of any marketing campaign is conversions. Online businesses want customers to take action.
Over the past few years, conversion rate optimization (CRO) has been the fastest growing marketing strategy focused on ensuring that customers actually convert (take action).
As conversion rate optimization continues to take charge in the online business sales funnel, many experts are offering sound advice on how to optimize the entire conversion funnel. From better writing to landing page design practices all the way to gaining perspective on consumer behaviors.
Interestingly, with all of the conversion rate material available, most of the content is geared towards changing text or graphic components of a site. Especially as many more brands move towards integrating web apps, mobile and SaaS products, the potential of capturing leads and converting sales is becoming much more sophisticated.
It's time to look at conversion rate optimization from a fresh perspective. One that looks beyond the short term sale and invests in the long term opportunity of each conversion.
Here are a few tips on conversion rate optimization that offer brands a chance to regroup and rethink this critical aspect of online marketing.
The Journey is Filled with Conversion Potential
Businesses should be relentless in using every marketing strategy available to increase the front end of the conversion funnel. The initial point of conversion is critical. It establishes trust and enables the opportunity of cultivating a long term relationship.
Short term conversions are nice but long term retention is the best sales opportunity.
Every interaction with a customer is important and should be viewed as a chance to convert customers. Think long term customer.
By focusing on the entire customer lifecycle, companies will see an increase in user engagement and a better natural flow throughout the cycle from acquisition to revenue.
At each stage of the cycle (acquisition, activation, retention, revenue, and referral), consumers become another opportunity for conversion. A great review of the various conversion stages is available here.
Many companies assume that only one aspect of the conversion funnel is the priority metric to test. Why? Many actions are conversion opportunities and focusing on one component may impact revenue to the business.
As with any conversion change, testing and tracking how consumers engage with the site throughout the process, provides valuable information about which variation is more effective.
If a test can be associated to some form of income that is the ideal. Of course, this form of research and deep analysis will require significant time beyond the tools provided from most software.
At every touch point along the customer lifecycle, critical data is being collected about existing customers. This information provides a company with the information to modify content and information based on real customer navigation data.
Exploring and investing consumer data will create patterns of behavior, which can provide new testing opportunities and methods of conversion supported by existing customer decisions.
Segmenting is Key
Segmentation is what makes every marketing strategy successful.
Targeting audiences and creating messages that are relevant to that segment and offer the highest conversion potential.
If targeting is so successful, then the theory should be applied to apps and site.
Each component including, calls-to-action, value propositions, design, and features can be optimized for consumer relevancy.
Look Long Term
- Optimizing at the top of the funnel is only the beginning. There are many points for potential conversion, make sure to consider each one. The goal is to increase the number of customers, engage, retain and convert them.
- Discover potential conversion opportunities with existing consumer data. Identify, test and modify conversion paths based on existing data.
- Segmentation. It's the only way to focus the mass of existing data to create informed conversion decisions.