If you're looking to get more customers through your front door, you can't afford to waste potential opportunities.
This article is all about conversion. And there are many, many ways of thinking about conversion that'll help you get more customers through your front door.
Like the claims about loyalty, a slight improvement in conversion rates can significantly impact your bottom line. First, let us look at what conversion is.
What is conversion?
At its simplest, conversion is about taking potential opportunities and turning them into paying customers. But there's a lot more to it than that.
Conversion can be thought of in many different ways, but one of the most important things to remember is that it's not always about getting someone to make an immediate purchase. Sometimes, conversion is simply about getting someone to take the first step towards becoming a customer.
The key is to identify what actions are most likely to lead to a sale down the road and then focus on driving those actions. For example, if you're a company that sells products online, your goal might be to get visitors to add items to their shopping cart. But if you're a service-based business, your objective might be to get visitors to book an appointment or sign up for your email list.
There are several ways to increase conversion rates. Still, some of the most effective include optimising your website for conversions, running targeted marketing campaigns, and providing an excellent user experience at every touchpoint. By thinking carefully about conversion at every stage of the customer journey, you can ensure that you're making the most of every opportunity and maximise your chances of success.
Why is conversion necessary for companies?
There are several reasons why conversion is so vital for businesses. First and foremost, it allows you to capitalise on opportunities and make the most out of your marketing efforts. Conversion also enables you to track the success of your marketing campaigns and understand which channels are performing well and which could use some improvement. Finally, conversion optimisation can help you create a better user experience for your customers, leading to more loyal and repeat customers.
Investing in conversion optimisation can be one of the best decisions you make for your business. By thinking about conversion at every stage of the customer journey, you can ensure that you're making the best possible use of every opportunity and set your business up for long-term success.
How can companies increase conversion rates?
A few key things companies can do to increase their conversion rates.
First, they need to make sure their website is conversion-friendly. This means having clear calls to action, easy to find contact information, and persuasive copy that speaks to the needs of your target customer.
Second, companies need to run targeted marketing campaigns specifically designed to convert leads into a customer. This might involve retargeting ads, sending personalised emails, or offering discounts for first-time buyers.
Finally, businesses need to focus on creating a great user experience at every touchpoint. This includes everything from the initial landing page to post-purchase follow up. By making sure every interaction is positive and informative, you can keep potential customers moving down the funnel towards conversion.
Some key considerations when looking at conversion rates
What is a nudge?
Nudging is a powerful tool that can influence people's choices. By increasing the probability of people choosing a particular brand, we can improve the chances that they will stick with it in the long run. Nudging can encourage people to make healthy choices, such as choosing a more nutritious food option or getting more exercise. Additionally, Nudging can discourage people from making unhealthy choices, such as smoking cigarettes or drinking alcohol.
Likewise, in your conversion process, you should look at people buying your brand in terms of nudges instead of conversion. This means that you need to focus on creating an overall positive experience for potential customers throughout their journey with your brand. Every touchpoint should be designed to make it easy for customers to convert, and every interaction should leave them feeling positive about your company. By paying attention to the customer experience details, you can increase your conversion rate and build lasting relationships with your target audience.
The Nudging needs continual reinforcing. So it's essential to have a communication plan to sustain it. Map out the content you need to create and match it with people's buying journey. You can ensure that you're providing the correct information at the right time to keep them moving towards a purchase.
Brands are not top of mind.
People don't think about brands much because they have more important things going on in their lives. Their opinions about brands are surprisingly fluid and similar because they're based on emotion and personal experiences, not logic or facts.
When it comes to making decisions, people usually go with their gut instinct. If they feel good about a brand, they're more likely to buy from them. They'll either find another brand that meets their needs or go without altogether if they don't. Brand loyalty is rare because people are constantly changing and growing. They try new things all the time, and their tastes change as they learn more about the world around them.
Opinions about brands aren't always accurate or fair. Sometimes people will dislike a brand for no good reason other than personal preference. Other times, people will love a brand even though it doesn't deserve it. It's important to remember that everyone is different and that there's no such thing as an objective opinion regarding brands.
One of the most critical aspects of marketing is creating and maintaining a solid brand image. Maintaining a strong brand image is not easy, but it's important to remember that brand image scores don't always show the whole picture. People's opinions of a brand can change by the day or even time of day. It's easy to get caught up in worrying about these numbers, but they don't usually fluctuate much and don't necessarily reflect the differences between brands. More prominent brands tend to have higher brand image scores, so it's not always indicative of success or quality.
KPIs that aim for significant brand image changes can be tricky and not a great metric to assess. If a company's goal is to increase its brand image, it's essential to ensure that the chosen KPI is attainable. Otherwise, the company may end up disappointed with its results. Additionally, it's necessary to be realistic about how much an increase in brand image scores are achievable. A company might want to set a more modest goal if it knows that a considerable increase is unlikely.
There are many different ways to measure brand image, so companies should choose the metric that makes the most sense for their business. Brand awareness surveys are one option, but they can be expensive and time-consuming. Social media monitoring is another possibility; this method can provide real-time insights into how people talk about your brand online.
Ultimately, any KPI needs to be carefully chosen to avoid disappointment and ensure that it provides valuable information for decision-makers.
You are in an open relationship with your customer.
Don't think you are in an exclusive relationship with your customers. You have many segments to target, and your customers have a few companies they like to buy from in your category. It would help if you were thinking about keeping your brand top of mind with people so that when they are ready to buy, your brand is the first one they think of. There are a few ways to do this:
1. Make sure you have a robust online presence.
Having a website that is easy to navigate provides potential customers with all the information they need about your product or service. You should also make sure you are active on social media and that your posts are engaging and interesting.
2. Make sure you have a good reputation.
Offering quality products or services at fair prices and providing excellent customer service. If you can build up a positive reputation, word-of-mouth will work in your favour, and more people will be likely to think of your brand when it comes time to make a purchase.
3. Offer something unique that other brands don't offer.
You could offer a loyalty program, unique packaging, or an overall superior product or service offering. If potential customers perceive that your brand offers something special, they will be more likely to choose it over other brands.
Advertising is not as influential as people think.
We are not always aware of the influence that advertising has on us. Advertising is designed to tap into our subconscious desires and emotions to sell products. It is a weak force that only affects people on a subconscious level. That being said, advertising is crucial to help keep you at the top of a consumer's mind.
Advertising is only one small factor in why we purchase things. Our family, friends, peers, and cultural norms influence our decisions. When it comes to making purchasing decisions, advertising is only a tiny part of the equation.
Your language is essential.
When it comes to getting someone to see your point of view, the language you use is important. Words like "persuade", "convert", "recruit", "acquire" and "switch" carry a lot of negative connotations. They make it sound like you're trying to force someone into seeing things your way, which is rarely going to be effective. On the other hand, words like "explain" and "discuss ", remind" "associate", "feel", and "nudge" are much more neutral and are more likely to lead to a productive conversation.
In any negotiation or debate, the language you use can be crucial. Using forceful or aggressive language will put the other person on the defensive and make them less likely to listen to what you have to say. On the other hand, using more neutral language will create an atmosphere of cooperation and open communication, which will lead to a successful outcome.
Setting your objectives
Please don't write a brief with objectives for advertising that merely seek to make people do X or get people to do Y. Instead, think about what you want your advertising to achieve on a deeper level. What kind of impact do you want it to have?
Do you want your advertising to be thought-provoking? To challenge people's perceptions? To change the way they see the world? Or maybe you want it to be entertaining and memorable.
Whatever you're hoping to achieve, keep that in mind as you write your objectives. And always remember: good advertising should be effective, but it should also be ethical.
Target situations and states of mind, not segments. Make yours the brand that people are most likely to choose when doing X, feeling Y, or wanting to be Z.
When selecting a brand, people often target specific situations or states of mind. By targeting particular segments, brands can appeal to the emotions and desires of their consumers. For example, when someone is looking for a brand that will make them feel more confident, they might choose one known for its high-quality products. Alternatively, if someone wants to be more adventurous, they might choose a brand representing excitement and new experiences.
A sprocket, we target people who want to achieve more marketing success whilst reducing their costs and doing more with less. Some smaller companies seek to do this at all times, whereas some larger organisations may be looking to do this when there is a budget cut or high inflation like there is in the present economic climate.