What is Conversion Marketing and Why You Should Care

24 Sep. 2019 - - Total Reads 328

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We all know that a lot goes into building and launching an eCommerce business— you have to determine your product source, channel partners, a suitable platform to set up your e-store, marketing strategies, and perhaps you will start seeing increased site traffic. But that’s not it. Think of it as a leaky bucket; when you pour more water into a leaky bucket, you’ll just end up with a lot of waste. You may be driving people to your online store, but more often than not, these fickle online shoppers do not end up making any purchases. As eCommerce business owners (and marketers), conversion is that utopian goal we all strive for, but only the best achieve.

So what is Conversion Marketing? 

In the digital world, the term ‘conversion’ can mean different things for different companies, but for eCommerce businesses specifically, conversion typically happens when a customer purchase a product/service. Conversion Marketing, then, refers to the tactics that ‘convert’ site visitors into paying customers, or to encourage your customers to take that desired action. As we mentioned early on, conversion marketing is less concerned with your site’s online visibility (of course you can use other marketing strategies to bring organic or paid traffic to your site in the first place) or inventing prospects, but instead presents compelling cases to existing potential customers who already come with interest.  

Understanding eCommerce Conversion Rate Optimisation

The good thing about conversion marketing is that it’s pretty easy to quantify— you measure the performance with conversion rate, the percentage of overall visitors who take the desired action. Higher conversion rates means more sales with possible less effort, fewer lost customers, increased ROI and making the most of your digital marketing budget. But conversion doesn’t just happen, you will need to optimise your e-store content with just the right mix of strategies. 

Conversion Marketing takes into account many things, and at Andmine, our iterative approach to performance goals has long been a mainstay of our services, with all aspects of our 4 Pillars of Digital Success model geared towards amplification / optimisation. That said, here are some basics to consider to optimise your eCommerce business and boost conversions: 

Have good content. Low session duration is essentially what increases bounce rates and kills conversions (after all, users need to stay long enough to see what you have to offer). Whether it be the main heading or the text describing an offer on your page, compelling writing is essential to increase visitors’ average time on site. The key is to keep your messages direct, clear and concise. Don’t forget about blogs as they provide good opportunities to add in call-to-action buttons. 

Add lead flows to site. Aside from CTA buttons, slide-in box, drop-down banner or pop-up box can also grab attention and generate conversions. 

Make conversions easy. If you haven’t figured already, simplification is a key element of conversion marketing as online shoppers nowadays have the shortest attention spans ever. If visitors have to fill out 3 forms and click through 6 pages to buy from you, they’re not going to convert. You should greet them with an easy-to-navigate interface, clearly-displayed products and eye-catching graphics. We also recommend adding search function to make the searching process easier for your prospective customers. 

Simplify Your Checkout Process. Let’s admit it- we have all spent hours shopping online, added tons of products to our shopping carts, but somehow decided to abandon the transaction last minute. While the reasons for cart abandonment may vary, it is important to make the checkout process fast, seamless, and pleasant. If your e-site is currently forcing customers to register to complete a purchase, consider dropping that and offer guest checkout or logins via Facebook. You should also offer a wide range of payment options and auto-populate forms such as billing and shipping information. In short, the more you can do for the prospective customers, the more likely he or she is to complete the purchase.

Reduce Analysis Paralysis. Sometimes visitors can be so overwhelmed by the number of options on offer that they end up making no choice at all. If you have a wide range of models for the same product like Apple, compare your offerings in a clear table format so that customers can compare the trade-offs.

You can also highlight your preferred option to get more purchases with this tactic. 

Social proof. Use customer ratings, reviews, views, and likes to provide social proof of your products’ appeal.

Chatbots. Chatbots are like those friendly and helpful staffs in physical stores who offer e-shoppers personal assistant. When built properly, they’ll help your prospective customers with questions and help with conversion. Check out this example we built for our client. 

Optimise for Mobile. If you could only make one change to your e-store, this is it. Your e-commerce site should be responsive so that it tailors itself to any size of screen.  

Create Urgency. People hate feeling like they are missing out on something and we all want to grab the deal before it’s too late. One good option for eCommerce retailers is the use of flash sale or limited offers. Include an active CTA to trigger your visitors’ FOMO and get them to act on it, like this one we did for our client. A quick note – don’t overdo it as it will come off as spammy.

Leverage retargeting to re-engage website visitors. What happens if visitors are still not taking the desired actions? That’s when you leverage retargeting to entice a ‘lost’ customer to return and complete the purchase. If visitors abandon their shopping cart and leave your e-store, thanks to retargeting, you can serve them personalised ads on other sites with the very product abandoned. Retargeting on Facebook, Instagram, Google, etc can help keep your eCommerce store top-of-mind until the prospect is ready to commit. 

Personalisation. People tend to be impressed with landing pages that seem to be designed just for them. One way you can give your customers the warm and fuzzies is by displaying a landing page that’s specific to their area or interest. Fortunately, in the Digital Age, it’s very easy to detect a user’s location and browsing interest.

Lastly, you can’t gain insights into your marketing efforts and optimise your strategies without reporting tools. There are great reports available in Google Analytics such as user flow journeys, the amount of time spent on certain pages, the amount of exits and bounces on a given page. That’s why GA is still the best source of truth out there that eCommerce businesses can leverage to potentially uncover new CRO opportunities.
At AndMine, we ensure that the conversion rate of our clients’ marketing efforts are optimum by using industry benchmarks for comparison and through the use of split testing. To find out more, contact us to discuss CRO and how optimising your current organic or paid traffic can significantly improve your online and business success.

Vivian Lee
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