“If you really look closely, most overnight successes took a long time.”
-Steve Jobs
Digital marketing is vital for the survival of any business today. It is an all-encompassing effort, utilizing all the tools, techniques, and strategies that boost your online presence and validate your company’s existence on the Internet. And because everyone today searches online, it is often said that, without an online presence, it is as if you don’t exist.
How do your clients or customers respond to your presentation of your products or services? Do they buy it? Conversion rates are the single most obvious signifier that tells you how well you are doing on the market. If you are not satisfied with your conversion rate, something needs to change.
We have learned that the market has shifted more into informing and educating rather than direct selling. Today, direct sales seem invasive and aggressive, so we value creativity and use a holistic marketing approach. But let’s back that up with numbers.
What do the Stats say about Conversion rates and Digital Marketing?
Conversion rate optimization (CRO) is the process of increasing the number of users or visitors of a website to take action. The conversion rate is different from the overall traffic (number of visitors) to your website. If your website is declining in conversion, it doesn’t mean that organic traffic will do the same. Your traffic can remain the same, but the conversion rate could move up or down depending on different factors that we will explain in this article.
First, here are a few statistics about conversation rates and digital marketing that we want you to be aware of, before going more in-depth with the factors that we believe influence online conversions today.
The average landing page conversion rate is 2.35%, and the top converting websites convert at 5.31% or higher, according to Wordstream.
Facebook ad conversion across all industries is at 9.21%, even though the different rates vary substantially between industries.
Although more and more people use their mobile devices to browse and shop, the conversion rate among US shoppers on the internet is still higher for desktop (3.7%) than for mobile device users (2.2%) for the 3rd quarter of 2021.
To sum it up – the average eCommerce websites (the majority – 65%) get around 2.35% conversion rate and the 25% around 5.31%. Where do the last 10% stand?
The top 10% of websites get conversion rates of 11.45% and more. They are rare, but their positions are not unreachable.
Professional marketers and SEO specialists will get your business there with the right CRO strategies, techniques, and creativity. We have summed up some of the most crucial factors influencing your online business’ conversion rates.
Canesta’s Eight Ps in digital marketing factors that influence conversion rates
We have thought a lot about conversion rates and the digital marketing factors that influence them most. We wanted to divide them into more generalized sections, and we called them the Eight Ps to make them easy to remember. So here we go:
Presentation
Uniqueness is key. If you want to stand out, you need to present yourself and your company to the world. Creating a unique brand identity is crucial for being easily recognizable and valued by your customers. However, this brand identity and its unique message need to be presented the right way and reach the right kind of audience. That’s why professional marketers focus a lot on presentation in digital marketing.
After audience segmentation and creating a cohesive design, marketers would determine the brand’s vision and mission before introducing it through various techniques and strategies on different channels.
Your presentation may include proposals and promotions, paid search marketing strategies, and lead nurturing. Make sure you tailor your presentation based on your company’s identity and always think of your customers’ needs.
Positioning
You offer the best product or service. Great. How do you get people to see that, and how do we make them know that you are their only option because there’s no one better on the market. That’s where positioning comes into play. The first thing you have to do is be honest with yourself and your audience.
Acknowledge your competitors. See where they are. Analyzing your competitors will play a huge role in your success because that’s how you learn where your weakness may be and change a few things, and also where your strong points are to emphasize them and stand out with your uniqueness. Learn as you grow.
One of the first things you will need to do for your right positioning on the digital market is creating a responsive website and targeting the right audience. Visibility is key. Your great product or services needs to land right in front of the eyes of your prospects. Make your website as intuitive and easy to navigate as possible. Actively engage with your audience. Nurture them into prospective clients. Build links and craft a user-friendly landscape where your clients find everything they need.
Personalization
Personalization is the process of finding out your clients’ preferences, needs, and interests. Through this knowledge, you will know what your customers are looking for, and you will be able to offer it to them. With personalization, you will be able to connect to your customers and offer them an exceptional user experience that will grab their attention right away,
Engage with your customers through the relevant communication channels. By interacting with them based on their personal needs and interests and knowing precisely what they want, you can create a thorough analysis of your audience. The only way to know if you are relevant to the market is by responding to the demand. Are you offering what people need? Do people know they need what you are offering them? Who is interested in purchasing from you? Professional digital marketers and SEO experts can answer all these questions with in-depth research of what industry you are in and an analysis of your audience, niche, and business.
Personalization, when done right, can help you increase customer engagement and loyalty, build better relationships with your prospects, and ultimately boost retention and sales.
Presence
As of April 2022, there are five billion internet users worldwide, which accounts for 63% of the global population. And according to the statistics, 4.6 billion internet users are on social media.
Your presence on social media will help you become more influential. It will exponentially increase your visibility and help you stand out in the virtual space. Moreover, it will connect you with your customers like never before. It will help you bond and solidify your relationship with them, turning them into long-term loyal customers.
By harnessing the power of social media marketing, you can reach much more potential customers within a short time. By posting your ads on social networks, you can also reduce costs by reaching the right type of people already interested in your offering. With an effective social media tool, you can save time by spreading your message on multiple channels and, at the same time, sending it from one single place.
Proposal
Influencing your prospects is a difficult task. Tailoring the perfect proposal that your potential customers can’t resist is art. It’s hard to convince your prospective customers that your product or service is the best because they are overwhelmed with constant, targeted advertising. Wherever they turn, someone wants to sell them something. People are not ready to buy from direct sales anymore. They find advertisements agitating.
That’s why killer proposals are rarely seen even in our profession. SEO experts and marketers advise providing information and solutions to your customers. Grab your people’s attention with great, creative solution-offering content.
Show your customers you are different from your competitors and be honest with them. Keep it real and stick to structures that work. Propose solutions to problems and offer your product or service in a way, that it will seem the only logical way to fulfill their needs.
Prospects
Prospects are people. Value your prospects. They are not just potential customers or clients – they are the people interested in your offering. Your prospects are ready-to-buy users, and it is up to your digital marketing to capture their attention and lead them on an effective customer journey.
Prospects are not just a number but individuals who will likely buy from you if you show them how much you value them and how much you are interested in their needs and you are ready to interact with them and connect with them.
They want to know more about your business and your products or services. That’s why it is crucial to send them of a fascinating customer journey and turn them into long-term clients. Solidify your relationship with your existing clients and show them how important they are to you.
Performance
When you sit down in a restaurant or a cafe, you expect fast and efficient service from the waiter. The place may be fancy and have a beautiful interior and exceptional furniture, but if you don’t get your meal or beverage fast, it will result in poor reviews for the place. It is the same with websites.
Boosting your website’s performance is vital for bettering the user experience (UX). The average user would spend no more than two seconds on your website before they decide to close it or continue browsing it. To perform at the best speed your website needs to load its pages in under 3 seconds for optimum performance, which means that, although you have a flashy and beautiful website, if the visual effects slow it down, it won’t be very user-friendly.
Page speed affects conversion rates. By improving your website’s speed, you also boost your SEO efforts. Improving your website performance can increase traffic and conversion rates. Your visitors will always prefer to have a page loading faster than having a striking visual but slow speed.
Probing
Testing and analysis are keys to your online performance. You need to take a step back regularly and see where your marketing strategy lies. Are you accomplishing your goals at the speed you want? What areas do you need to improve? Growth requires changes. Sometimes you need out-of-the-box thinking and take risks for rapid growth. We promote leaps in development through digital marketing strategies.
One of the questions your analysis should answer is, “Where do my leads fall off in my sales funnel?” Let’s face it. You can always do better unless absolutely every lead or ready-to-buy user, who reaches your website, turns into a customer. After evaluating your goals and the current state, you can start testing for improvement.
A/B testing, also known as split testing, is extremely effective for your digital marketing campaigns. With this type of testing, you experiment by splitting your audience to test different campaign variations and see how they perform. This way, you see right away, what grabs your audience’s attention and makes people click and purchase. Testing and analysis are vital for the growth of your sales online, and it shows where your digital marketing efforts stand.
Our Bonus Ps
Perseverance, Patience, and Persistence
To finish up on a very positive note, we will also give you our three secret weapons: Patience, Persistence, and Perseverance. Like the quote we started off this article states, the results will not come overnight. It will take patience and persistence. Likely, you won’t see results from your tireless marketing efforts right away.
You may make a few mistakes on the way, but if you persevere and go at it again with the same enthusiasm you had when starting, you will continue moving up, and your efforts will bear fruit. You can’t go wrong if you consider all of the factors that we mentioned above. Perseverance, Patience, and Persistence are key, just like our other Ps.
