It’s not just e-commerce businesses that can leverage the power of conversion rate optimisation (CRO). Higher conversions mean more sales, so why wouldn’t you want to invest in optimising your conversion rates? Whether you’re an online retailer, a startup with a valuable B2B product, or an entrepreneur selling your expertise, CRO could be the key to a bigger profit margin in 2022. Here’s how.
What is CRO?
Conversion rate optimisation is all about boosting the number of people who visit your site and end up making a purchase (i.e. a ‘conversion’). That could mean they buy a physical item, sign up for a course you are offering, or anything relative to your business type – essentially, whatever you are ‘selling’ you want them to ‘buy’.
Improving your conversion rates can be done through a range of strategies, and Google Optimize is a great place to start. It’s easy to integrate on a website and will be useful as long as you have enough traffic visiting your site.
We often find brands are great at testing creative or various media tactics but fail to consider how to improve their website experience. Implementing a tool such as Google Optimize – there’s a range of others that can be used as well – allows brands to A/B test to identify ways to improve conversion rates, and ultimately drive a more profitable outcome.
Here are three tips for greater conversions:
1. Test, test, test!
Testing is the beating heart of CRO – namely, A/B testing (or split testing). This provides businesses with an opportunity to test out two or more scenarios to see which are more successful at converting website visitors. For example, if you create bespoke beauty products for a high-end brand, you may find you have more success when using high-quality imagery compared to big, bold ‘50% discount’ images, which may be more appropriate for lower-cost brands.
Whatever you decide, it is recommended you always work within a detailed framework that is specific to your business and product offering.
One great way to do CRO effectively is to build out a testing framework. You can plan ahead of time for certain things to test on-site, such as button colours (i.e. blue vs red), or changing the copy on the homepage to speak to ‘Product Feature and Benefit 1’ vs ‘Product Feature and Benefit 2’. You can then analyse the performance and incorporate the best performing button, copy, image etc. (whatever it may be) on the site whilst you continue to test and improve performance on an ongoing basis.
2. Promote sales and offers in real-time
One of the most effective ways to convert a potential customer into a buyer is to get them excited about your products. This can be achieved by incentivising purchases through real-time awareness of promos and sales.
Though much-maligned in the early days of the internet, pop-ups on your owned site are now a critical tool for converting customers and expanding your email sign-ups. For example, you can include a pop-up for first-time shoppers that gives them a 10% off code if they enter their email. This can ‘instigate’ further exploration of your product range and incentivise them to make a purchase in a timely manner – especially if the 10% off code is only valid for a short period.
You may also consider publishing real-time sales as they occur. Whenever someone makes a purchase, a small notification will pop up on the screens of everyone else who is visiting your website. This shows your products are popular and can increase the urgency of a sale.
3. Convince potential buyers through testimonials
Especially if a potential customer hasn’t purchased anything from you before, there’s nothing more convincing about your legitimacy than a testimonial. In fact, a whopping 88% of online customers trust reviews just as much as a recommendation from family and friends.
So make sure you gather as many positive testimonials from previous buyers as possible, and then set them front-and-centre when visitors are viewing your products. It creates instant credibility in your brand and may even turn a tentative lead into a conversion.
A continuous strategy
Like most optimisation strategies, CRO isn’t a set-and-forget solution. Instead, it’s important to regularly reflect on your strategy and use analytics to find out whether it’s still working a month, six months or a year later.
Ongoing testing is a great way to continuously drive strong performance on the website whilst learning more about a brand’s audience. It’s not limited to e-commerce businesses and should be a consideration for a range of brands in various categories.
Agnes Media is a measurement-first marketing agency that drives profitable business outcomes through effective and data-based marketing efforts️.
The article is published as part of MARKETECH APAC’s thought leadership series What’s NEXT. This features marketing leaders sharing their marketing insights and predictions for the upcoming year. The series aims to equip marketers with actionable insights to future-ready their marketing strategies.
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