Do you often find yourself a bit lost in the battle of driving traffic to your website, and getting these new users to take desired actions? You’re probably not alone. The job of marketing in the social media era could be not less than tedious – often demanding a lot of resources, time and money to be invested and not less importantly – proper knowledge.
If you’re not a PPC manager, or an Artificial Intelligence Developer, or even a marketing specialist – this often can lead to a lot of confusion when choosing what type of strategy you should go for. And even if your marketing strategy and campaigns are just on spot, it doesn’t necessarily ensure your conversion rate is something you’re happy with, too.
But first, let’s break down what conversion rate really is. Conversion rate is given by the number of users to your website who take a desired action, divided by the overall number of users visiting your website. Thus, conversion rate is given by percentage, rather than an absolute number of users. This naturally leads us to yet another powerful concept, named Conversion Rate Optimization (or CRO, for short).
CRO is the systematic process of increasing the percentage of website visitors who take a desired action — be that filling out a form, making a purchase, subscribing to your service and so on. CRO can be pursued in many ways, and since it has been demonstrated to have powerful effects on business revenues, many different strategies have popped up in order to achieve the best CRO results.
One leading strategy is actually quite simple, and sticks to personalization of your entire website, according to your users’ preferences. Personalization can be applied to all aspects of your website, be it content, color palette or layout. This strategy has been shown to yield increased conversion rates, simply by following a very intuitive core principle, which is applicable to everyday life as well: if you know your users well enough, you can get them to act a certain way. If you tailor a content variant specifically for each visitor to your website, there are greater chances for them to actually engage more and get converted.
Another question that should be asked by now is how you get this personalization process to happen, and how does it really work in practice? Automated personalization integrated in your website is artificial intelligence based, and utilizes some of the most advanced algorithms in the field. Web personalization engines such as twik, for example, are programmed to collect user activity data and profile users off and on-site, in order to learn user preferences and predict what they’re going to do next. Such data can then be translated to immediate, mild, yet highly efficient changes to your website – such as changing the “Buy Now” button’s color, size or location, all based on a certain user’s actions.
In summary, conversion rate is a piece of data you should be concerned about, as it indicates your business revenue. Web personalization might be a great solution to improving these stats, helping your business become more profitable.