Why You Should Care
There is one absolute in digital marketing: more acronyms than any human being should be introduced to in a lifetime. And when those acronyms are thrown at you by a digital marketing agency, it is simple just to nod and agree with whatever is said. Whether it is good or bad, there are some things that you need to know and understand. Sure, you can leave it all in the hands of your digital marketing agency, but understanding the statistics or metrics of your marketing efforts can get you more involved in the process and make certain that your dollars are working the way that you want them to.
To that end, we will provide a guide to understanding your digital advertising and marketing metrics. Don’t worry, there is no quiz. We just want you to know that when you receive information, you know exactly what that information means. And basically, it is all about CRO.
Conversion rate optimization (CRO) is boosting the percentage of your site visitors who take a desired action. Actions like completing a form, subscribing to a newsletter, or making a purchase increase your CRO. That’s a good place to start learning. Let’s look at more information that can help you sort out what is best for your business and your digital marketing strategy.
Two Major Phases of a High Converting Website
When you or your business launch a website, you will experience two distinct phases, and you will know which phase you are in. The first phase is the one that most businesses find themselves stuck in and not moving from, despite their efforts, is garnering traffic.
You cannot simply build a website and put it out there. Just because you build it does not mean they will come – we hate to plow your field of dreams. You have to have a strategy in place even before you launch pre-launch marketing can be done before you even have a website. Teasers on social media, spreading the word in an e-blast, and even good old-fashioned paper invitations to a launch can mean gathering followers and anticipating your website going live.
Phase one has to be worked systematically. Over and over, you will find new ways to find new customers, and you will stay in phase one until you find a way to implement your CvR – Conversion Rate. Looking at the information you have gathered – and you should be looking at it all the time – will tell you when it is time to open the door to phase two. Once your website has a consistent traffic volume, it’s time to start the optimization process.
Implement Tools that Help you Understand User Behavior
- A/B testing – this is exactly what it sounds like. You will use different ads, running them at the same time to determine which one is more effective.
- Metrics or analytics – these are tools of measurement that tell you how your ads are behaving as they interact with users.
- CTA – this stands for call to action. Most of the time, your calls to action will be phrases such as “learn more” or “find out more” or “purchase now.” This can also be a link to a form that your user can fill out.
All of this information is like mined gold. It tells you what works and what doesn’t. It tells you how the user is reacting if they are reacting at all and if you need to flip your strategy or seek outside assistance from an agency. Still, understanding analytics is a learning curve.
10 Conversion Rate Optimization Statistics (for Phase Two):
- Using visual content like videos on landing pages can improve conversions by 86%. (Eyeview) Short videos taken with a cell phone can be just as effective as full-production videos. Use short videos to highlight specials, sales, new products, or brief interviews with satisfied clients or patients.
- 74% of conversion rate optimization programs increase sales. These software programs offer tools that help track and delineate what works for your business and what does not. Most programs offer tech support and assistance if you need it.
- Personalized Call to Actions (CTAs) convert 42% more visitors than non-personalized ones. (HubSpot) Not sure what makes a CTA personal? Here is some information that might help you determine how to word your CTA’s so they speak to your customers!
- Asking for a phone number has the worst impact on conversion rates. Most people do not want unsolicited phone calls or texts. Do not require a phone number to move through the form. If anything, add a place on the form that allows them to enter their phone number if they want to do so.
- Multi-step forms in WordPress can lead to 300% more conversions. There is a psychological element here that relates to balancing an investment of time and energy with trusting enough to satisfy. (Venture Harbour)
- Only about 22% of businesses are satisfied with their conversion rates. How do you avoid being one of those businesses? Educate yourself, and if you don’t have time to do that, find an agency that will do an audit for you. Caledon Virtual offers free efficiency and effectiveness audits, please contact us to take advantage of this service at no cost to you. (Econsultancy)
- On average, For every $92 spent on acquiring a customer, just $1 is spent trying to convert them. How do you change that? Remember phase one and how we told you that most people don’t realize when they are ready for Phase Two? This is proof. Once you have gotten your traffic, it is difficult to know when to pull the trigger. When there is steady traffic to your website, and the average daily is comparable, it is time to start spending on conversion. (Econsultancy)
- The average number of fields on lead generation forms is 11. (PAGEWIZ)
- A one-second delay in your site speed can reduce conversions by up to 7%. (Neil Patel)
- 68% of small businesses don’t have a structured or documented conversion rate optimization (CRO) strategy. (State of Conversion Optimization Report)