Conversion Rate Optimisation Trends
Conversion rate optimisation (CRO) is an essential factor when improving eCommerce performance. It is a way of improving the number of site visitors that become customers.
As it is such an important aspect in any eCommerce site, there is a constant flow of new approached to optimisation. Most show little to no improvements, but there are a few that could help all businesses improve their CRO.
Conversion Rate Optimisation practitioners
It is important to not forget the basics. Looking at things such as product titile, descriptions and call to action buttons. Others focus on personalising their site to improve the customer experience.
With many companies, sales is not the only factor when deciding what counts as a conversion. Some sales take more time and to a business, it is not necessarily an indicator of long term value. For example, a visitor could consistently read blogs on your site, enter competitions and browse. This person may be far more likely to look to your site when they want to buy a product that you sell. You now have a loyal customer who enjoys your site and trusts you as a retailer. They are also more liekly to recommend you to friends.
Due to this new perspective on what makes a valuable customer, more effort is being made to improve the quality of ‘points of engagement’ on websites so that more long-term valuable customer relationships are made.
CRO specialist practitioners need more and more data to do their job. this includes 1st and 3rd party data. Put together with customer and industry benchmarks, this helps them learn and optimise using the experience of others.
Even with all this data, it is still an incredibly difficult job to reliably improve the conversion rate, as not many companies have the right kind of data. It is important to have the data needed for a single view of a customer.
This data is particulary diffecult to get for a few reasons
- Lack of communication means that while the whole business may have the necessary data, marketing experts may not be given access to it all.
- Technology that solves all business use cases is not available to all companies.
- Offline and online data is not easily syncable due to a lack of solutions.
It is predicted that artificial intelligence could solve many of these issues and help CRO specialists and practitioners get past some of these walls that are blocking continued improvement.
One of the most important requirements in conversion rate optimisation is attributing the conversion. However, many businesses are struggling with this aspect.
The most used attribution for online conversions are last click attribution. However, this is flawed as it doesn’t consider everything. For example, would a customer have googled the product you sell if they hadn’t seen it on a facebook ad earlier in the day? Unfortunately, without directly asking the customer what led to their purchase, there is no flawless way to attribute a sale.
This whole process can be even more challenging when looking at B2B sites, as marketers say they have even less data to use. They often have to work with inaccurate data.
A/B testing is now widely used among CRO practitioners. It is very much understood and a very helpful tool when optimising conversions. Unfortunately, it is not perfect, and when testing yields results that make ‘A’ and ‘B’ result in very similar findings, the time and money put into these test does not provide any useful information.
Despite the flaws that are part of CRO, there has been an overall improvement at companies. Taking an approach of testing and learning from these results is a crucial part of eCommerce optimisation.