CLIMB was built to help simplify marketing and increase business performance. It doesn’t get much more simple than the idea that “increasing conversion rates by 10% increases conversions by 10%,” but conversion can be significantly more complex.
We can look at how consumers are engaged with advertising. Back in 2007, a study by the market research firm Yankelovich found that consumers are exposed to an average of 5,000 ads per day. An official study hasn’t been published recently, but it’s assumed that consumers now see an average of 7,000 to 10,000 ads per day. That’s a lot of noise when trying to make each interaction with a potential customer count.
Furthermore, basic marketing principles that have been around since the early 20th-century often include the Rule of Seven, which states that a consumer needs to “hear” an advertiser’s message seven times before they convert. Even if those seven interactions are in a single day, that’s only 0.07% of the ads a consumer is exposed to, so it’s vital that each interaction has the highest chance of converting.
This is where understanding your consumer journey becomes essential. For each interaction to have the maximum chance of converting into the desired action, you need to understand where consumers are in the purchase process, the platform they are on, and the message most likely to resonate at that time.
- If they are on YouTube, how do you ensure they first watch the video, then take that next step of an action?
- How do you increase the chances of conversion on Facebook for page likes or email sign-ups?
- If you are competitor bidding on search, what message is best for the last-ditch attempt to prevent a conversion with your competitor?
There are many more factors to consider, but the point is to make sure you understand the goal of each campaign and find a way to maximize those conversions, which will increase overall business conversions.
Incubeta has helped businesses maximize on the Convert stage of CLIMB, developing innovative strategies and solutions, including the following examples:
- Working with Laser Clinics Australia on their website migration and redesign, we helped them move up in the organic rankings, increasing visibility on every relevant search, and better align pages to search terms for improved user experience. This led to a 44% increase in sessions from organic search and a 95% increase in conversions year-over-year.
- With Transavia, we’ve used sequential messaging and cross-channel retargeting to change messaging and sentiment based on previous brand interactions. Over the first 12 months, cost per acquisition decreased by more than 30%, making the entire funnel more efficient.
- To promote Eurail’s train passes, we created a UGC campaign that would better engage potential customers and travelers. We leveraged customer imagery across Facebook, leading to a 38% increase in CTR. Since Facebook is paid on a CPM basis, this means that without the increase in CTR, Eurail would’ve had to invest an additional 38% for the same traffic to the site, and utilizing user-generated imagery was cheaper than producing their own!
We hope this has made you think in more depth about how you approach conversion and how to increase all your conversion points to improve business performance.
We’ll be taking a closer look at each aspect of CLIMB during this week’s blog series, so be sure to check in tomorrow to learn about Leverage.