Conversion Marketing: What It Is and Why You Need It NOW
In simple terms, conversion marketing is a group of tactics to encourage visitors to take a certain desired action. Let’s understand this concept a bit better and you will see why you need it NOW.
You’ve probably heard “conversion marketing” tossed around a lot , especially if you sell online via an ecommerce, subscription or a lead generation site. But, what is conversion marketing? How is it different or relates to conversion rates, conversion rate optimization, or cost-per-conversion — maybe even to the famous “content that converts” offered by many copywriters?
If only a single visitor converts, you don’t need more visitors. You need more conversions.
For many business owners and even for experienced digital marketers, it can be easy for all these terms to blur together. Let’s take a closer look at conversion marketing and how it can positively impact your online revenue?
What Is Conversion Marketing
Most online marketing strategies have the same goal: generating revenue. This revenue could be derived from sales, subscriptions or leads, depending on your product or service.
Whereas many marketers focus on gaining website traffic to increase revenues, conversion marketing works to make your existing traffic more valuable.
Why? Because conversion marketing is designed to draw value from each visit.
Conversion marketing aims to increase leads and sales by focusing on the visitor’s experience to persuade them to convert. This “conversion” could be any action or actions that you want a user to perform on your website. From making a purchase, to signing up for an email list, completing a form, subscribing or clicking a “call now” button. Every time a user takes that action, you’ve made a conversion.
Same traffic. More revenue.
Since the goal is to increase your conversion rate by moving a visitor closer to becoming a paying customer, you can see why conversion marketing or conversion rate optimization is crucial.
This approach uses behavioral research, persuasion science, and data to determine how best to make your website a vehicle for success.
Understanding what your current and potential customers need is important in all aspects of marketing. But understanding how we can change the behavior of site visitors is of vital importance to conversion marketing. Whether it’s designing, writing, or developing creative website content, the focus is on getting more leads, increasing the number of transactions, increasing order value, etc.
The Key Reasons Why you Need Conversion Marketing right NOW
We just saw how conversion marketing, when properly implemented, can improve conversions and positively impact your profits. And if you are not focused on conversions and profits, what is the goal of your website?
If increasing conversions is not enough, then consider these reasons:
- Improve the Quality of your Conversions: Bigger shopping carts, returning customers, better quality leads, lower cart abandonment rates.
- Don’t let your hard earned (or paid for) traffic go to waste. Make every visitor count. You vested time and money on your social media channels, paid ad campaigns and organic efforts. Convert each and every one of these prospects/opportunities.
- Increase Profit Margins by lowering cost per acquisition.
- Let Conversion Marketing Metrics be your alarm system. Quickly identify issues to discover and implement a solution.
- Identify the low hanging fruit (where you will get the most bang for your buck) by measuring conversions or truly know your customer and leverage personalization strategies that convert.
Looking For a Conversion Marketing Partner?
Did this article get your juices flowing? Are you anxious to start boosting your online profits? We are just a phone call away.
Hiring your very own team of conversion optimization experts guarantees that you hit the ground running. Faster. Bigger. Better. And 100% unbiased.
How Conversion Marketing Drives Sales and Revenue Growth
One could argue that “impacting the bottom line” is the whole point of conversion optimization. The approach is powerful for ecommerce shops, and is used by subscription business models and lead generation sites to bring in more and better leads.
There are four major ways conversion marketing drives sales and revenue growth:
Let the data guide you
Your visitors are speaking to you, but you may not hear them. They are speaking with their visits, their clicks, their scrolls and other actions. They speak to you through web analytics.
Through research and analysis, you have a higher chance of creating effective online experiences. This means launching fewer duds and having a website that delivers what your visitors want. You’ll reduce your lead acquisition cost and increase the value of every visitor.
Get another chance to convert: Lead Nurturing & Repeat Customers
Studies show that nurturing existing subscribers, leads, and customers is five times more cost-effective than going after new ones. Whether your goal is to cross-sell, upsell, or bring leads back to the pipeline through remarketing, conversion marketing provides strategies to do just that.
Optimize for Your Audience(s)
Every customer is different — paid search versus organic visitors, new visitors, returning site visitors, desktop visitors, mobile — and these groups should not be treated the same. You can improve the conversion path for one group, only to annoy another. They can cancel each other out. With a conversion marketing approach, you gain detailed understanding of the specific users that come to your site and can optimize your marketing for each of them.
Quickly Fix What’s Not Working
The faster you learn where your marketing process falls short, the faster you can change it. Conversion marketing uses a variety of strategies to help you pinpoint barriers to conversion, whether it’s a confusing message, a clunky form or some other friction point.
Conversion Marketing Tactics
Lead generation and ecommerce businesses benefit from a range of optimization tactics. Here are some of our favorites.
- Guest Checkout Tactics to Grow Ecommerce Sales (with Examples and Ideas)
- Why your Mobile Visitors Don’t Buy from Your Ecommerce Site
- 6 Persuasion Tactics to Increase Conversions
- 20 Landing Page Best Practices to Kickstart Your Conversion Lift
- How to Growth-Hack Your Email List Using Exit-Intent Overlays
- 20 Compelling Examples of Persuasive Copy in Online Advertising
- 6 Fast and Easy Ways to Increase Lead Generation
- Better, Stronger Faster: How Better Landing Page Copy Increased Conversions By 42%
Find out if your website is ready for a full-press conversion optimization.
- 7 Simple & Effective Ways to Improve Your Email Open Rates - February 23, 2021
- The 3 Most Effective Marketing Strategies For Ecommerce Businesses - December 26, 2020
- Google Ads not Converting? Try These 4 Optimization Tricks - August 6, 2020
Absolutely! Conversion marketing doesn’t have to try to invent prospects, and then try to con those prospects into making a purchase. It just needs to make a compelling case to those who already have a need. It’s more about making a decision easy than about presenting the decision in the first place.