With a finite capability to meet the demands of today’s “I want it now” consumers, retailers need to consider what matters most - is it speed, convenience or free delivery?
The influence that effective Conversion Rate Optimisation (CRO) practices can have on revenue can be impressive. It’s no wonder then that CRO is a topic of conversation making much noise at the moment. Let’s dive into some the key points CRO raises and some top tips to take away…
CRO is multi-faceted – it is about improving website user experience (UX) by improving marketing, websites and Ecommerce journeys, and new techniques are always emerging. Recent research from eConsultancy highlights a trend for CRO that is focused on improving the upper and lower parts of the funnel. With many marketers focusing on targeting, positioning, and messaging. With considerable experience of A/B testing, CRO professionals are also involved in testing channels and helping brands find the right combinations of both.
Ultimately though, CRO must have increasing sales as its main goal.
Back to Basics
For brands who have not yet started optimising the customer journey for conversions, website, channel and point-of-sale data should be gathered immediately. Brands then need to assess whether they can optimise the whole journey themselves or whether they need to align with a partner, such as a distributor. Finally, brands looking to optimise their funnel need to take a 'holistic' view of attribution including both online and offline touchpoints. In-store campaigns often boost Ecommerce sales.
Quick Top Tips
CRO initiatives which can significantly improve conversion rates include:
- Simplify checkout as much as possible. Think, "what user info do we really need?"
- Analyse user sessions and mouse 'heat maps' to see how individual consumers use the site.
- Use A/B testing extensively.
- Automate abandoned cart lifecycle emails.
- Use retargeting on search, social and display.
Some points specifically for mobile CRO:
- Make sure both mobile and desktop experiences are optimised.
- Use responsive design on the website, but only for small browsers and tablets.
- Smartphones require a specific site that leverages mobile features such as geolocation for store finding, click-to-call, and augmented reality (AR).
Some of the frustrations faced when working to increase conversion rates include:
- Accessing data due to cultural and backend legacy issues can be a problem such as recent EU legislation (GDPR) hindering the ability to track and serve customers more effectively.
- Increasing levels of cross-border trade make CRO more difficult. Ecommerce conversions, have as much to do with tax, inventory, and shipping as they do with website performance.
- Offline conversions. It can be difficult to find one system that integrates offline point-of-sale systems with online tracking data. Without this integration, the path leading to an offline conversion cannot be captured or optimised.
CRO will have to evolve to remain useful. The most important change will be new systems that can reconcile customer journey data across all channels, including offline, and deliver more accurate attribution reports.
Artificial intelligence for CRO will improve personalisation, increase offer relevancy, and help sites drive conversions - and upsell.
Perhaps the most significant trend for CRO is that despite two decades of using Ecommerce, consumers still prefer face-to-face transactions by a wide margin in most categories. Thus, measuring offline journeys is key to the future of CRO and, means that conversion optimisation is still an ongoing exercise.
Ultimately, a business will need to isolate its own key issues through a comprehensive analysis of conversion points and how to optimise a website to facilitate this. CRO is a continually evolving process that requires constant adjustments and reconfiguration, however the benefits of adapting to the changing landscape can make a real difference.
This post was originally published on the Magento blog following research from Jeff Rajeck, APAC Research Analyst, Econsultancy.
Every year, Econsultancy publishes a report on the subject, surveying hundreds of Ecommerce and marketing professionals to establish industry trends. Yet while the report offers extensive detail about how marketers increase conversions by improving marketing, websites and Ecommerce journeys, new techniques are always emerging. You can view the original article here: https://magento.com/blog/best-practices/what-does-conversion-rate-optimization-mean-marketers-2018
Key findings from Episerver’s recent survey of 4,500 consumers about their online shopping habits and expectations.
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