Conversion Rate Marketing

Conversion marketing definition: a philosophy that focuses on encouraging a customer to take a specific action considered a conversion. In ecommerce, conversion marketing focuses on converting a customer who browses your site to a paying customer. The ratio of overall site visitors to the number of purchases then becomes your conversion rate.

In inbound marketing, conversion marketing becomes a bit more complex. This ideology focuses on convincing a user to take the next step in the inbound funnel — whether it’s subscribing to an email list, opting into a specific channel, signing up for an event, clicking through on an email or reaching out to a sales representative before ultimately making a purchase.

The conversion rate is the percentage of users who respond positively to a call-to-action (CTA). This can be the ratio of overall traffic to the number of orders, the number of clicks on a website button, the click-through rate on an email or the number of form fills as compared to the number of landing page visitors.

Conversion rate is one of the most critical marketing KPIs and hands down the most concrete way to justify a marketing expenditure. If a conversion rate is particularly high, especially on revenue-generating CTAs (such as “buy now”) or low-funnel qualifying CTAs (such as “contact our sales team,” “start your free trial” or “request a demo”), then you’re demonstrating the efficacy of marketing efforts in providing value to the organization as a whole.

Conversion rate optimization, or CRO, is a system for increasing the percentage of visitors that convert to customers or more qualified leads on your desired points of interaction. By focusing on conversion rate optimization in digital marketing strategy conversations, you’re not only ensuring that your efforts are bringing in the most qualified leads, but also demonstrating a concrete ROI.

In order to focus on conversion rate optimization, be sure to look at your existing performance data and identify where potential gaps exist in your marketing or where customers are dropping off from your marketing messages. If a particular type of message causes a large number of leads to unsubscribe or go cold, you need to take a different approach to maximize your conversion marketing efforts.

Conversion Strategy Marketing Automation Tactics

Your marketing automation workflow should have a variety of options to begin implementing conversion rate marketing as part of your overall strategy. When it comes to encouraging your users to take a specific action that leads toward a sale, here are a few of our favorite conversion marketing tactics:

Nurture Drip Campaigns

A drip campaign is an automation workflow that takes action based on the customer’s online behavior. While typically primarily email, a drip campaign slowly serves content to a user based on their unique actions. The defining characteristic of a drip is that it’s slow and steady — think of a faucet dripping slowly and rhythmically rather than a fully open stream.

Dynamic Content

This type of content encapsulates anything that has a personalized change based on the interests or past behavior of the viewer. It creates an experience that’s customized specifically for the prospect, typically in an email, landing page or digital ad. Your marketing automation platform should enable you to create dynamic content and add it to any nurture flow.

List Segmentation

Any good marketing automation platform will have the ability to integrate CRM data into your workflows. When it comes to conversion marketing, it’s essential to make sure you’re serving specific, relevant content to your audience. Create buyer profiles based on your user data and ideal customer and then segment your list accordingly. You can also add specific list segments to marketing automation workflows designed for their profile, helping to boost conversion rate by offering genuinely valuable content.

Marketing automation gives you detailed analytics and data about your customers. By leveraging this valuable information, you can generate content that is uniquely valuable to your customers and serve it to them at the right moment.

The cornerstone of both conversion marketing and marketing automation is ensuring that you’re providing the right content, to the right person, at the right time to maximize the chances of making a purchase. By leveraging automation in your conversion strategy marketing, you can continue your conversion rate digital marketing efforts.

If you want to find out more about marketing automation for conversion marketing, contact us. SharpSpring, Inc. is a full marketing automation company that can help your business utilize conversion marketing to boost conversions and sales. For more information or to request a demo, visit our website today.