Are you struggling to improve conversion rates?  You’re not alone, as according to eConsultancy, the percentage of website owners who were unable to increase conversion rates has risen by 17% since 2010.  At the same time the importance of conversion optimization has been steadily rising and is now one of the top concerns for marketers, above social media marketing and branding.

A Data-Driven Driven Strategy is Key For Conversion Optimization

Rather than using “gut-feel” or “common sense,” a structured and scientific approach is needed to achieve results.  A recent study by Adobe found that the top online marketers achieve more than three times the conversion rates of the bottom third.   There is a striking difference between those that are successful and those that are not:

• 4% of digital marketers = less than 0.5% conversion rate
• 10% = 0.5% to 0.9%
• 19% = 1% to 1.9%
• 30% = 2% to 4.9%
• 18% = 5% to 8.9%
• 20% = 9% and above

So how can you separate from the pack and move into the top 20%?

1. Use Data to Drive Testing Hypotheses

By making testing a priority in your conversion optimization strategy you can begin to collect the necessary data for more informed and targeted testing hypotheses.  Your click-through rate is improving.  Is it because you changed the color of your call to action, or because you changed your headline value proposition?  The best way to find the answers to these questions is to use the same approach that scientists have used for centuries – experimentation.

2. Make Testing A Priority

54% of marketers say that testing is not a priority, while only 30% of marketers in the top-performing group say the same.  Shopping cart Conversion optimization is an ongoing process and companies that understand this and make testing a priority are far more likely to deliver better outcomes.

3. Invest in Shopping Cart Conversion Optimization

The top online marketers who are achieving superior conversion results spend approximately five percent of their marketing budget on optimization.  These companies are finding that the investments pay off.   If you are finding yourself in the lower half of organizations on the conversion rate scale, by simply moving to the upper half you can dramatically increase the revenue you are generating from your website.

4. Use Data-Driven Insights to Target Personas

By understanding who your customers are, and using data to segment visitors, you can personalize the customer experience to generate dramatic results.   The more relevant your landing page is to a visitor the more likely they are to convert.   Top marketers are 83% more likely to automate their content targeting with data.

5. Prioritize Testing Hypotheses

Increased focus on shopping cart conversion optimization will in kind lead to an ever-increasing number of possibilities for testing.  Prioritizing your testing hypothesis allows you to focus on those opportunities that are likely to generate the highest revenue impact.   Conversions take place across a customer journey, so it is important to expand your view of testing prioritization from the top of the funnel all the way to checkout.

We Deliver Superior Outcomes Through A Data-Driven Methodology

-          We pinpoint where your site is losing money and where the biggest opportunities are for improvement.

-          We create a set of prioritized testing recommendations and then develop design treatments, copy, and structural improvements to site elements.

-          We perform controlled experiments through an iterative cycle of testing and learning

Our conversion optimization methodology involves the following steps:

1. Determine KPIs and Define Success

The first step to a successful conversion optimization strategy is defining success and ensuring that results are properly measured.  This includes:

-          Reviewing current analytics implementation to identify issues and gaps

-          Benchmarking key performance indicators

-          Clearly defining goals and objectives

2. Research and Gather Insights

The next step is understanding your audience and conducting a deep analysis of their behavior on your site:

-          Competitive analysis and benchmarking

-          Click-map tracking and usability testing

-          Conduct user research into emotional triggers, demographic, habits, and behavior

-          Sales funnel analysis to identify roadblocks in the customer journey

-          Cart abandonment and personalization analysis

-          Review pages, paths, and visitor data in your analytics platform to identify potential testing opportunities

3. Generate and Prioritize a Set of Testing Hypotheses

Since you can’t test everything at once it is important to focus on the high value opportunities identified in the research phase.

We classify your tests by effort and the impact they will have on your primary business goals.  Each hypothesis is then ranked based on the following criteria

-          How much traffic the page receives

-          The role it plays in the customer conversion journey

-          Potential uplift based on current issues that need to be addressed on the page

-          The ease and effort to implement (quick wins vs. big bets)

4. Test, Test, Test

We don’t fool around when it comes to testing.  Starting with a set of prioritized testing hypothesis, backed by years of experience and data, we perform controlled A/B and multi-variant testing against new page elements and design treatments.   Our testing strategies aim to maximize traffic and revenue impact.

5. Report, Analyze, Repeat

Testing is an ongoing and iterative process.  We’ll analyze the results from the initial round of testing to gain insights and generate a new set of prioritized testing hypotheses.  Every test we conduct provides more data for future testing and creates a “cyclical process” that leads to better results.