You may live by the motto ‘trust your gut,’ but when it comes to conversion optimization that’s not the best place to start. Analytics and testing is king!
Conversion Optimization (CO) refers to the improvement of a whole or portion of a website (or online campaign) where strategies such as A/B testing, analytics and surveying site visitors are used to convert visitors into customers. And in this case, “improvement” leads to more money, more sales ROI and overall site conversions.
Less problems, mo’ money. Right?
Everything we do as a digital marketing team, every PPC and SEO strategy and the like is enforced to promote the conversion optimization process. To make the right modifications for a site, we must look at the performance of every piece individually, along with its functionality as a whole.
If your website is not achieving what it’s supposed to, what’s the point?
To help all those CO newbies understand where to begin, here is some important conversion optimization vocabulary the experts here at 70kft use:
Within analytics tools, the conversion funnel describes the path a visitor takes throughout a website. This journey begins with the first page the user hits on a site, all the way to the point of conversion. Imagine the literal image of a funnel. Lots of people go in but only a select bunch, the type of audience you should be targeting, are actually completing that process.
It may not be the first page that causes the visitor to exit the funnel and it may not be the actual converting page itself. For example, maybe on an ecommerce site a sizing chart on a product page is not consumer friendly, making it difficult for the user to understand the product. This kind of issue can be resolved with thorough analytics research and surveying site visitors.
This type of testing compares two versions of the same thing, such as a page on a site, a display advertisement or an email campaign; in order to see which is most effective in converting visitors, the control or the variant. The industry standard for confidence level is currently 95 percent. With that said, these tests should run for at least a week to obtain reliable results. The more complex your test is, the longer you should run it to be able to truly identify a winner.
Testing is absolutely king in the CO process because there’s no limit to potential improvements. A site will never be completely perfect. Never stop testing because enhancements can always be made.
User Experience (UX):
The user experience covers everything that happens between a website and its users. A website with mismatched advertising messages, convoluted copy or a confusing check-out process will ultimately lose business and decrease its ROI, no matter how beautiful it may be.
To fully understand the user experience, both qualitative and quantitative data must be taken into consideration. Analytics platforms can only tell us so much. But with a chat, help or survey feature, we can figure out exactly what is tripping your potential customers or clients up.
KPI (Key Performance Indicator):
In this case, KPIs measure the performance and success of a website or advertising campaign. This is not only a digital marketing related term; it actually plays a huge role in defining website’s goals and objectives.
The first step, alongside identifying your company’s overall business objectives, is to identify specific goals and KPIs for the website. These goals should directly align and benefit the overall business’ profit.
ROI (Return on Investment):
Again, this is not strictly a digital marketing term, but a tremendously important metric to keep in mind. ROI attempts to measure the profitability of an investment. A direct increase in ROI means more money. And who doesn’t like more money? The mathematical formula for this ratio is to divide net profit by total.
It’s also important to realize the only way to have quality ROI is to start with accurate data and reporting. For example, a business’ ROI can quickly see improvement with Pay Per Click advertising through Google AdWords, AB testing and optimized ads. 70kft carefully analyzes every campaign to trace efficiencies, deliver transparent proof of results, identify areas of weak performance and provide definitive clarity for driving ROI.
Call to Action (CTA):
This term is also known as the big button on a site that says “download now,” or “learn more,” basically something to convince visitors to click and continue in the conversion process. Changing content, spacing, color and other elements of this button has been proven to effect overall optimization. A powerful, clear and concise CTA will tell your audience what they should do next to avoid any confusion within your site’s conversion funnel.
A landing page is the page on a site where the user is taken to from a specific ad or from somewhere outside of the actual website domain. Properly constructed landing pages are essential for advertisement conversion optimization.
As a digital marketer, I look to match the ad message with what the site visitor sees on the page when the ad is clicked. It’s our job to make the overall process as streamlined and simple as possible for the end user. It’s also important to find the balance of giving a user the amount of information necessary to turn them into a converting customer. Not too much, and not too little. And this will depend on the product or service being offered.
Understanding the basics of conversion optimization is the first step in learning the fundamentals for refining and modifying your site, but most importantly achieving ideal results for yourself and your clients. 70kft’s forte is turning real-time data into meaningful results by employing in-depth analytics and performance-optimized strategies. Your newly found lingo, partnered with the right amount of expertise, will ultimately increase your understanding of the process.
Knowing how to hold your own in a conversation is only half the battle, but being able to put a conversion optimization plan in action with successful results will require a true expert. This is a whole other ball game. And that’s where 70kft comes in.