The best companies online know the secret to converting high value visitors. Their secret to success?
You need to engage them at the moment they are most likely to convert – while they are still on your site.
Today’s leading enterprise marketers and scrappy start-ups are reinventing engagement strategies by moving away from treating website visitors with a “one size fits all” approach, identifying high impact visitors the moment they click on the web site.
They do this by identifying, segmenting and targeting those segments with potentially high conversion value — shoppers with high shopping cart values, price shoppers, users who want to buy more but have questions — and engage each differently to convert them into lifetime customers.
Best-in-class agile marketers who are able to engage users in real-time, or with quickly targeted response tactics when stakes high, typically see average conversion rate lifts of 23% or more and average customer conversion rate is 3.9% – in stark contrast to the industry average of 1% to 3% (source: Exact Target / iGoDigital whitepaper).
Three easy ways they are doing this include…
- Look-Alike Targeting
- Abandonment Triggers
This increasingly popular method of social and mobile data integration, allows a PM to add targeted, incremental prospects to your user segments. By analyzing current behavior of online visitors, look-alike targeting allows you to find fresh prospects with similar profiles. The profiles are derived from a variety of variables such as individuals that have visited similar websites, made similar purchases, or have similar interests as the current target audience, allowing the marketer to zero in on those who are most likely to convert.
The quickest way to jump start this process with relevant information about your audience – by far – is by using your existing social presence (Facebook lookalike audience).
This method involves serving online ad placements to people who’ve already interacted with you online through a digital medium (email, website, external sites). At its core, retargeting allows you to serve ads to people who have interacted with your online campaign or product messaging before, in order to generate leads or further score existing ones.
Using retargeting, you can stay in touch with people who leave your site without converting, which constitutes the lion’s share of a typical website traffic. When an individual visits your site or landing page (and don’t bounce immediately), they more or less raise a hand to express interest. They may not convert right away. In fact, most of your traffic won’t.
But reminding them of your product/service or providing the user with more information can lead to increased conversions, higher engagement, and for your existing customers – a higher lifecycle value.
When visitors begin a specific conversion event but do not complete it, this doesn’t necessarily mean the conversion is lost. For example, when a customer places products into a shopping cart, and leaves the site before completing the purchase, or begins to fill out a shipping label but does not complete the form, the realistic causes for this are endless…
- Are the prospect going somewhere else to get more information?
- Did they leave home / work prior to finishing the conversion?
- Did their browser suddenly crash?
- How many tabs do they have open? Did the user switch devices or channels?
- Are there functionality issues with the site / page / form?
- Is your site speed or page load time affecting conversions?
The truth behind abandonment is never certain. But sometimes all the user needs is an additional touch, more information on your product or service offering, or even a small incentive to trigger the conversion event – and eliminate your competitors from the possibility of purchase consideration.
Abondonment targeting is very widespread in its channel possibilities – reaching users across multiple digital experiences with a variety of interactive or omnichannel tactics in your arsenal. The most common ways to remind the customer to complete the action they have started include…
- Email response workflows
- Mobile SMS or push notifications from apps
- On-page reminders or contextual alerts
- Social integration tactics
- Personalized Retargeting on your website
- Behavioral Retargeting via ad networks, search engines, partner sites or affiliates
While there are many ways to improve the user experience for increased conversions, the 3 methods above will ensure a promising start to conversion rate optimization across channels. Once you’ve employed traffic and channel optimization, the logical next steps include landing page optimization, and from there, post-click marketing strategies. And we’ll discuss those next…
What other tactics do you use for online targeting?