There are a wide variety of measures to improve CVR, such as adjusting landing page (LP) creatives, enriching content, and improving site display speed.
CRO (Conversion Rate Optimization) is emphasized as a measure to increase CVR (conversion rate), which is essential for acquiring more
. However, it is said that there are not many web professionals who are able to reliably put CRO into practice.
We will explain the main CRO measures and steps to implementation.
“Conversion rate optimization” effective for increasingly complex user journeys
As user journeys become increasingly complex, effective tools exist to process and leverage large amounts of data points. Here, we will introduce ways to improve your CRO (conversion rate optimization) efforts.
Some of you may be wondering whether you really need to know about CRO, but here we will show you that it is very important to know about CRO.
Conversion rate optimization refers to increasing the number of visitors who complete a site objective, such as making a purchase or signing up.
Even with all the advice we give you to run the best display advertising campaign, you need to automate as much as possible to improve your paid search advertising strategy.If your site doesn’t meet a certain standard, you won’t be able to generate more traffic. It makes no sense.
If the website itself does not meet the user’s expectations or is not attractive to the user, no matter how well-crafted the continuous advertising message that the visitor was shown before visiting the site, the visitor will leave the site. It is unlikely that he will come back again.
Conversion rate optimization is part of the “full funnel strategy” that many marketers are now adopting. Marketing funnels are a good representation of behavioral patterns and trends, but digital marketers need to dig deeper into the thoughts and distractions of potential customers’ daily lives.
The average shopper starts browsing on their desktop, takes a break to have a cup of tea, and then continues their search on mobile. If you are out and lose connection, you may find yourself revisiting the page you were viewing later on the same day.
User journeys are becoming more complex, but with the right tools, you can process and leverage large amounts of data points.
Three key areas to improve your CRO strategy
Acquisition efficiency
The positive impact of CRO is the smooth convergence of multiple channels, improving the efficiency of paid media initiatives. This reduces
your CPA
(advertising cost) and helps you stay ahead of your competitors.
Making the most of existing traffic is a cost-effective way to increase sales and revenue while maximizing return on investment (ROI).
Revenue growth and retention
Even if it’s just a 1% improvement, the cumulative effect will be a significant increase in both sales and profits. Additionally, by providing an attractive site experience, you can encourage users to return to your website, which can lead to further growth in terms of retention.
customer insights
By conducting a CRO, you can gain comprehensive insight into your company’s marketing activities and their effectiveness. This also allows you to combine different data points to expand your knowledge of your business and audience.
You can identify the best landing pages, understand what content resonates most with your audience, and apply what you learn to other areas of your site.
What improvements exist?
One of the major issues that many marketers tend to ignore is site speed. Site visitors’ online browsing habits have changed from desktop to mobile. Publishers must also adapt to this need.
How is the search ranking of your company’s website changing?
You should run a Google mobile speed test on your site and multiple competitors’ sites and calculate the impact of the results on your revenue.
It is estimated that a one-second delay in mobile page load time can impact conversions by up to 20%.
This means that all the effort you put into creating your landing page and all the money you spent on acquiring traffic can be for naught at the first hurdle: page load time.
If a site is not mobile-friendly, page views and customer satisfaction are significantly reduced, and visitors are five times more likely to abandon the site.
What you can do now to speed up display speed is to optimize your images. Images often make up most of a page’s download bytes. Therefore, by compressing images with the appropriate format, you can significantly reduce the number of bytes of images and improve the performance of your website.
With that in mind, Google is offering a new solution with its image compression tool Squoosh.
The need for a full-funnel strategy
For many buyers, research and discovery happens across multiple channels at once.
Many users use their phones to skim product reviews, watch TV commercials, and switch between brand social media feeds and websites while shopping in a store.
69% of shoppers who visit a store use their mobile phone to research reviews while browsing the sales floor, and 71% of Americans use their mobile phone to search for content related to what they’re watching on TV. It is said to be used by switching screens.
With the ubiquity of mobile devices and social media, online and offline shopping journeys are becoming more fragmented than ever before. This makes it essential to adopt a full-funnel strategy that simultaneously drives awareness and demand across multiple channels.
Purpose of layered funnel strategy and importance of full funnel strategy
When I say “funnel,” I’m referring to a marketing funnel, which outlines the simplest journey a customer might take to make a purchase.
The top of the marketing funnel represents buyers in the awareness stage, and the bottom of the funnel represents buyers in the purchase stage.
Upper funnel marketing strategies refer to strategies that increase awareness. For example, many television commercials are designed to increase awareness among audiences who don’t yet need the product.
Mid-funnel marketing strategies typically focus on increasing consideration and standing out within your category. For example, blog content can help differentiate your product from other products in its category.
A lower-funnel marketing strategy promotes purchases among buyers who have indicated they are likely to make a purchase. For example, remarketing ads with calls to action like “Buy Now” can bring buyers closer to the point of purchase.
A full-funnel marketing strategy builds awareness, consideration, and purchase all at once.
A marketing funnel is a framework that helps you reach your audience. On the other hand, customer journey and funnel are not interchangeable concepts. Although the funnel is linear, the customer journey rarely moves directly from awareness to consideration to purchase.
Successful companies implement full-funnel marketing strategies.
3 stages of marketing funnel
Describe each stage of the marketing funnel, what it is, and what you should focus on.
Stage 1: Cognitive stage
This is the first layer of the funnel. At this stage, your customers are already facing a problem, but they don’t yet have awareness of your brand name or product. The focus here is to capture the attention of potential customers with content that is relevant, engaging, and easy to see.
Stage 2 2: Consideration stage
It’s at the center of the funnel. At this stage, the prospect is interested in your company and is actively looking for, or at least interested in, information that will help them solve their problem. Your focus here should be on building trust, engaging them with relatable marketing messages, and standing out from your competitors.
Stage 3: Conversion stage
In the final stage of the funnel, prospects are typically familiar with your brand and are communicating with you on a regular basis. Customers are now making a choice. The key here is how easily you can get your customers to click and complete their purchase.
So when you look at your marketing funnel as a whole, at the top of the funnel you need to cast a wide net to capture potential customers. As you move down the funnel, it becomes important to collect data and learn more about your prospects so you can better target them.
Using video advertisements to increase awareness
Video ads are effective in increasing awareness. This is evidenced by the fact that one-third of the time spent online is spent watching videos. It is also said that video engagement is generally higher, with click-through rates for banner ads and video ads being 27.4 times different.
Today, customer journeys are more fragmented, and the key to successful video advertising during the awareness stage is reaching the right people on the right channels.
By knowing your target audience and understanding the entire customer journey across multiple devices, you can reduce advertising costs and increase impressions.
Artificial intelligence (AI) tools help you map the devices your customers use, create behavioral profiles based on their interests, browsing patterns, and purchase history for effective video ad targeting. . User-generated video content and how-to video content are particularly effective at this stage.
Effective use of custom engagement at the consideration stage
The consideration stage reinforces your need for the brand. The key here is to deliver engaging, informative content based on the prospect’s behavior and interests in the form of interactive, personalized messages.
Hyper-personalized EDM and push notifications can also help increase open rates and engagement. To do this, you need to combine data from your own channels with data from external channels to better understand customer behavior and interests, creating a 360-degree customer profile.
Using this insight, you can provide more relevant, targeted recommendations in a timely manner to support comparative consideration.
Focus on your customers and increase conversions
At the conversion stage, you can segment your prospects based on demographics and behavior to deliver highly personalized product recommendations.
To stay within budget, use deep learning (DL) tools to identify the best combination of segments and rank them by likelihood of purchase to identify the most important prospects to focus on. Masu.
Then use natural language processing to better understand the interests of those top prospects and leverage deep learning to predict which products are most likely to convert.
Some potential customers may be on the verge of making a purchase and are just one click away from making a purchase. By using promotional techniques, you can lead to payment all at once. Use advanced machine learning tools to identify undecided buyers while weeding out window shoppers who aren’t ready to buy or those who are sure to buy.
You can then accelerate conversions with lower ROI by offering relevant offers and coupons.
This full-funnel approach helps you move potential and existing customers from awareness to consideration to conversion. The important thing is not to stop when you reach a conversion. Measure, evaluate, and use data to keep the funnel moving and sustain data utilization into the future.
Factors that reduce conversion
Decline in product appeal and increase in competition
External factors can reduce your conversion rate.
As an easy-to-understand example, if there is no demand for a seasonal product in the market, the conversion rate will decrease.
In addition, the number of companies that want to sell products online is constantly increasing.
Therefore, if you advertise with the same keywords or sell products similar to other companies, your customers will be scattered.
As a result, this will be a factor in lowering your conversion rate.
Keywords are incorrect
If there is a mismatch between the product’s appeal and the search keywords, the conversion rate will drop.
For example, let’s say a person with severe back pain searches for “low back pain specialist chiropractic clinic.”
As a result, even if you see an advertisement for a chiropractic clinic specializing in stiff shoulders or a cheap massage, it is unlikely that you will be able to make a deal. This is because the customer’s search keyword intent and the product’s appeal do not match.
If your product’s appeal matches your search keywords, you increase your chances of closing a deal.
Inconsistency between advertising and sales pages
If your ad and sales page contain different content, your conversion rate will drop.
This is because customers will feel uncomfortable and close the page.
So make sure your advertising and sales page messages are consistent.
Specifically, it is a good idea to use the same catchphrase and the same image on both the advertisement and sales page.
By doing so, the sales page that appears after clicking on an ad will feel less strange.
Consistency between advertising and sales pages will reduce the chance of page closures, which will have a positive impact on conversion rates.
Failing to convey the appeal of the product
A sales page that only describes the product’s features and specifications cannot fully convey its appeal.
Product features alone do not give customers a good idea of what they will get by purchasing the product, so they do not lead to purchase and the conversion rate decreases.
Therefore, it is necessary to convey the appeal of the product in a way that allows the customer to imagine in their mind what kind of changes will occur after purchasing the product.
In other words, communicating the benefits is essential.
Application form is complicated
Even if the content of your advertisement or sales page is good, if your application form is complicated, your conversion rate will drop.
They find it tedious while typing and end up leaving the page.
To avoid this, make your application form a simple page.
The fewer items you enter and the fewer pages you switch, the less likely you are to leave the page.
It is even better if the application form is integrated with the sales page.
Let’s improve so that we don’t lose out on customers who have reached the application form.
summary
Conversion rate optimization is an effective measure as user journeys become more complex.
As one measure, it is possible to prevent potential customers from leaving by improving the UI/UX of your website from the customer’s perspective.
In addition, using a full-funnel strategy and sending content and messages tailored to users at each stage will lead to consistent appeals and increase conversion rates.
If your current conversion rate is low, it is important to quickly understand the cause and take measures.