HOW CAN THEY POSITIVELY INFLUENCE MARKETING FUNNEL?
When it comes to transforming website explorers into consumers and consumers into buyers, conversion rate optimization (CRO) is the order of the day. CRO has become Hobson’s choice in the marketing fraternity. But it also comes along with its set of myths. In this article, we will be breaking down those myths and also tell you how marketing agencies can benefit from its accurate implementation. Before running any conversion rate optimization strategy, you need to take into account the prevalent myths and what not to do to spoil your chances of a high conversion rate. Let’s get down to it.
COMMON MYTHS SURROUNDING CONVERSION RATE OPTIMIZATION (CRO) –
1- Copy/pasting another thriving website’s CRO strategy will do wonders for your conversion rate
Conversion rate optimization is about making your website more presentable and user-friendly. Replicating another website’s CRO strategy may increase conversion rates but only to an extent. What works for someone else, won’t necessarily work for you. So instead of wasting time walking along the lines of another website, design your own CRO strategy that is in line with your website’s needs. Blindly following another website will prove to be pointless in the long run. Another website’s strategy will not point out the shortcomings in your own. That is something you will have to figure out for yourself.
The right plan of action would be to carefully craft your own conversion rate optimization strategy and put it to test. There could be anything and everything wrong with your website. But copy-pasting from another website will only tell you what they were doing wrong and what they did to rectify it, it won’t tell you where you’ve gone astray and what you need to do to get back on track. Why ? because your audience has their own needs and frustrations and requires personalized solutions. You can gain some insight and learn a trick or two from other CRO strategies. But for it to work effectively, you will have to come up with your own unique move.
2- A/B testing is all you should care about
Let’s get this straight, A/B testing is one of the most important facets of conversion rate optimization, but definitely not the only one. A/B testing is only a part of the big picture that should be taken into account when assessing CRO strategy. Along with A/B, data from all aspects need to be accumulated and studied to measure the success rate of a CRO strategy. The main aim of CRO is to check the factors responsible for people taking action. By action, I mean buying something or providing contact details to name a couple.
A/B testing will only reveal which web page the users prefer but it does not mean you’ve done everything you could. Testing will only act as a guidance tool and lead you towards areas that require attention. Only when you utilize data from all aspects will you be able to know about your customers and their needs.
3- Conversion rate optimization is about following tried and tested practices
One of the most common myths surrounding conversion rate optimization is that tried and tested methods, for instance changing button color, will yield higher conversion rates. It could increase the conversion rate a little bit, but it will not give the dramatic spike in conversion rate you’re looking for. Let’s be realistic, you can’t have one common solution for all your problems.
Look for other areas that might require attention
Marketing environment is not a static one. It is a continuously evolving process. What worked yesterday does not work today. And there is absolutely no guarantee that what’s in vogue today will be tomorrow as well. Similar is the case with CRO implementation. This might scare you a bit, but the obstacles standing in the way of your conversion are more than you can count and each and every one of them has its own clarification. An effective conversion rate optimization strategy carefully examines and evaluates real-time data and formulates a strategy around it. There is a possibility that your CRO process may not even involve tried and tested practices.
4- Conversion rate optimization is a guessing game
This myth is a little surprising. In today’s marketing world, every move is analyzed and well thought over before being put to test. But even today many marketing agencies still go with the age-old method of guessing what the customer wants. Let me tell you upfront, conversion rate optimization is not based on guesses and hunches, it is about sitting down and devoting time to craft an effective strategy that circulates around your customer’s demands. It is about figuring out what exactly the customer wants and orienting policies around those wants.
In place of guesswork, CRO utilizes user feedback to determine consumer needs and pain points. Marketers today still believe that they are well aware of their consumer’s needs and that their buying behavior tends to stay more or less the same over time. But the fact of the matter is that user demands keep on evolving. Guesswork will not get the job done, one on one interaction and directly hitting pain points will.
HOW CAN MARKETING FUNNEL BENEFIT FROM CRO?
CRO makes you aware of customer’s wants and wishes so that you can pile up products and services for them. CRO gives you a clear picture of what your visitor’s behavior is like when he lands on your website.
Proper application of CRO can drive more traffic to your website. The more the traffic, the more the conversion rate.
An effective CRO strategy will give you the competitive edge you’re looking for and help you overtake your opponents in the fast lane.
CRO will make you realize that there is always scope for improvement. No matter how good your site looks or how tremendous your conversion rate is, there is always something you can improve upon.
COMMON MYTHS SURROUNDING A/B TESTING
1- Intuition is more reliable than A/B testing
Experience is a very valuable asset in any field, and marketing is no exception. Experience plays an important part in evaluating marketing trends, but it still does not guarantee spot-on results. Marketers are masters of their art. But what you need to understand is that even the most experienced marketing professionals have been wrong at times. Gut feeling and experience should not be the only criteria driving your decisions.
A/B testing allows marketers to make decisions based on real-time data and increase conversion rates. What you should do is incorporate both marketers expertise and split testing into your conversion rate optimization campaign.
2- Multivariate testing (MVT) is more productive than A/B testing
A/B testing and multivariate testing are both brilliant techniques that use data to boost conversion. The myth is which one of the two is the more effective one. The answer is neither. Fact is that both are completely different techniques that have different working methodologies. Articles and posts which tell you that a/b testing is more effective than multivariate testing or vice versa, are not to be believed. Pitting one against the other is downright wrong.
Multivariate testing has a wider ground to cover as it checks the impact of multiple factors, A/B testing checks one factor at a time. Split testing is a great method if you are looking for immediate results while on the other hand multivariate testing is useful in making changes to a web page and know how different aspects work together with each other. Mixing both techniques will only create confusion. Rather than thinking which is the better one, apply the right technique at the right place.
3- A/B testing is a sure shot way of increasing conversion rate
There is no denying the fact that split testing is a very powerful technique and it should be a part of your conversion rate optimization strategy. But it does not mean that it is a guaranteed way to increase conversion rate. Marketers today still have firm belief that A/B testing is an assured way of multiplying conversion. The thing to remember is that split testing is only a fragment of a bigger structure. It will only paint a picture of what works for your website and what does not. You can then decide on your plan of action and devise a strategy accordingly. If you want to boost conversion and improve overall performance, incorporate all important facets of your conversion rate optimization move.
A/B testing is the first step on the ladder that leads to higher number of conversion. If any other important part of your website is broken, it won’t work. And if you fail to provide your audience with what they are looking for, like quality content and recommendations, your A/B testing will fall flat on the ground. If you’re looking to boost conversions, then your entire CRO plan needs to be top notch. It does not matter if you are an A/B testing expert or not, solely relying on IT will leave you disappointed.
4- Everything needs to be subjected to A/B testing
It would be wrong to say that A/B testing will not lead to an increase in conversion rate. But that, in no way, means testing anything and everything will produce the desired results. Many marketers still believe that if you are not testing every possible thing, they might miss out on a few details. Always remember A/B testing is about getting a response out of your customer. So applying a/b to everything will only prove to be a futile effort.
There is a different way to tackle different website problems. Instead of wasting time putting everything under the A/B testing scanner, analyze the data and come up with solutions accordingly. The audience does not take part in every feature of your website with the same mindset. So how can you expect to get results if you apply the same test everywhere? It just doesn’t seem right.
HOW CAN MARKETING FUNNEL BENEFIT FROM A/B TESTING?
A/B testing allows you to create better content through careful evaluation of both versions of pages you are testing.
If your website has low conversions per day, split testing is the way for you.
Not only does A/B testing allows you to make changes on the website landing page, it also tells you whether your landing page needs any improvement at all. Through the medium of split testing, you can find out whether your page is functioning according to your expectations or not.
Split testing is easy to use tool which makes its application easier. Just deciding which version is to be put to test and distributing traffic evenly among them is all you need to do.
Conversion rate optimization and A/B testing both are incredibly valuable methods if used in the correct manner. Just remember CRO is a much more comprehensive method which has a broad scope while A/B testing is a part of CRO, an important part. Myths surrounding them can negatively impact your business in a number of ways. Knowing the truth is critical for magnifying your conversion rate. Along with this, you also need to focus on providing the quality product and the best possible customer experience. If you really want to successfully convert visitors into buyers and make them stay, I suggest you shake off these myths.