5 Strategies for Conversion Optimization
Having a website is basic to success in most industries. With so many tools out there it’s easy to get your homepage, web store, or blog up and running even if you don’t have any coding or design skills.
Getting traffic to your page is also quite easy by promoting your brand on social media and investing a couple of Euros in online ads. Giant internet companies like Google and Facebook let you hyper-target your online campaigns, helping you to start bringing visitors right away.
But this is when things get complicated.
One of the biggest challenges faced by online marketers is called "Conversion rates", especially when it is related to "Transforming website visitors into paying customers."
While it’s easy to build a website and buy traffic, truth is that engage these visitors and convert them into customers is a hard-work and takes some time. Long story short, the real secret lies in making your offers relevant to your audience.
Of course, everything starts with a good product, within an acceptable pricing range, and a compelling presentation. If you haven't that covered yet this should be your first step to increase your conversion rates, otherwise, here are 5 trending strategies that will help you to do so:
1. A/B Test everything you do
Test everything on your website. The test itself won’t increase conversions, but the results you get are strong evidence to support your decisions. A/B tests offer you a baseline for comparison purposes. All the strategies mentioned in this article were only considered successful because they had a hypothesis tested against an initial situation.
2. Use Data-driven Exit Intent Messages
Have you ever tried to exit a page and got a pop-up with an offer that you couldn’t lose? Loved or hated, exit-intent messages are becoming marketers' best friends as they are powerful conversion boosters when executed properly.
To properly execute this strategy you must make your offers relevant to each visitor. Data-driven solutions, differently from rule-based solutions, can recognise the visitor's behaviours and tailor every message and interaction accordingly to increase the chances of conversion.
3. Explore Dynamic Pricing
Dynamic pricing has been successfully explored by airline companies for decades, and due to the evolution of Artificial Intelligence is, now, becoming more accessible for companies of all sizes. The secret here is, again, relevancy. Modern algorithms can recognise patterns and users’ behaviours to find prices that maximise the chances of conversion while maximising revenue.
4. Use Data-driven Cart Abandonment Emails
Emails are among of the oldest ways to exchange online messages and have been helping companies to fight cart abandonment for a long time. How’s it different now? They’ve got smarter.
Data-driven technologies allow companies to hyper-personalise emails, targeting different users with different offers, messages, and even sending times. This high level of personalisation increase email opening rates and boost conversions by delivering relevant offers when the customer is more likely to open (and read) it.
5. Explore Data-driven Product Recommendation
Have you ever watched something on Netflix because someone recommended it to you? Better yet, have you ever watched anything because Netflix recommended it to you? You might don’t know, but the tv-shows and series that you see in their featured section are not there ‘by chance’.
Netflix uses data to recognise your preferences, compare with other users, and suggest movies that you will probably like to watch. The same technology is available for small companies with data-driven product recommendation solutions. You can, and should, do the same, stimulating cross-sell and up-sell, increasing your average shopping basket and boosting your conversion rates.
As you can see, data is leading the way companies to engage with their audiences nowadays, and the results are very positive. Making your page relevant is not just about how you'll structure your content, but also about how able is your content to recognise personal preferences and adapt to them.
How about your company? Are you using any data-driven solution or you're waiting for your competitors to do it first?