CONVERSION MARKETING - DEFINITION, TOOLS, CHALLENGES
WHAT IS CONVERSION MARKETING
is an approach to marketing aimed at primarily persuading a potential customer to take a specific action or conversion, such as making a purchase, registering, downloading an app, making a phone call, creating an account, or filling out a form. The main goal of conversion marketing is to increase the ratio between the total number of interested individuals and the number of those who have taken the desired action.
Unlike conversion marketing, other marketing approaches, such as strategic branding and positioning, focus more on building and sustaining a brand's image and identity. Branding creates a favorable perception of the company among the target audience, works to increase brand awareness, and establishes necessary associations in consumers' minds. Therefore, the distinction between conversion marketing and other marketing strategies lies in their goals and approaches – conversion marketing aims to achieve specific actions from potential customers, while most other types of marketing aim to create a strong brand with maximum consumer awareness. MAIN INSTRUMENTS
If a company adheres to conversion marketing, it essentially utilizes tools from the entire spectrum of the marketing arsenal that lead to increased conversions in the short term. Some of the most popular tools and methods for achieving desired actions from visitors include:
- Website optimization. Improving the design, structure, and content of the website to make it more appealing to visitors and provide an easier path to performing the desired action.
- Landing pages. Specialized pages designed for a specific action, simplifying the conversion process for visitors.
- A/B testing. Comparing two or more different versions of elements (such as headlines, images, buttons) to determine which one has better conversion effectiveness.
- Compelling Call-to-Action (CTA). Using clear, incentivizing, and attractive calls to action to increase visitor engagement.
- Social proof. Reviews, ratings, recommendations from other customers that enhance trust and confidence in the product or service, motivating desired actions.
- Multimedia content. Visual and video content can generate more interest from visitors and enhance information perception.
- Retargeting. Tracking visitors who have previously been on the site and showing them specialized ads, increasing the chances of their return and conversion.
- Personalization. Using visitor data to display content that aligns with their interests and needs.
- Chatbots. Installing chatbots on the website can help answer visitor questions and provide necessary information for decision-making.
- Form optimization. Simplifying registration or order forms can increase the number of completed actions, as users won't face barriers.
- Limited-time offers. Discounts, promotions, and other time-sensitive offers can create urgent interest and expedite decision-making.
- Email marketing. Creating personalized and engaging email lists can maintain customer communication and encourage desired actions.
- Audience segmentation. Dividing the target audience into groups with different needs and interests allows for a more personalized approach and improved results.
- Conversion path analysis. Studying visitor behavior can identify points where they lose interest and optimize the process.
These tools and methods help optimize marketing campaigns to achieve higher conversions and better results.USAGE CHALLENGES
However, a focus on conversions is not always the best choice in certain industries and can lead to certain issues. While conversion marketing is an effective tool for many sectors, there are cases where it may not be the optimal choice. Here are a few examples of such situations:
- Long sales cycle. In industries where making a purchase decision requires a lot of time and additional interactions, conversion marketing may be less effective as it's challenging to track and influence every stage of the sales cycle.
- Product complexity. If a product or service requires specialized knowledge or explanations before purchase, content marketing and educational materials might be more suitable than solely focusing on conversions.
- Niche markets. In cases where the target audience is very limited, conversion marketing might be less effective due to the small pool of potential customers.
- Services and repeat purchases. In industries involving repeat purchases or service-based offerings, success relies more on post-purchase customer support than one-time conversions.
- Large corporations and B2B. In complex business environments where decisions are made collectively, conversion marketing might be less effective compared to building customer relationships.
Thus, it is important to consider that the nature of the business can dictate its conditions. The desire to achieve a high number of quick conversions may not always be feasible in certain industries. In such cases, the best approach could involve employing classic approaches with the development of a long-term marketing strategy, branding, and a comprehensive marketing mix.Achieving the commercial objectives of a company through effective marketing requires a deep understanding of the market situation, consumer needs, the ability to analyze and explore alternatives, and a creative approach to problem-solving. Our company has extensive experience in defining optimal marketing strategies for our clients' businesses, creating a strong brand and market positioning, as well as developing a marketing mix and implementing the chosen strategy. You can familiarize yourself with the services and solutions our company offers on the "Services" and "Solutions" pages, respectively.