Advertising prices are steadily rising and the measurability of advertising tools is eroding. Brands are currently operating in a state of blindness, so it is important for business owners to understand how to improve sales and user conversion.
In the high-tech worlds and the global economy in general, the feeling that the market boom is over has been growing in recent months. After years of low interest rates, capital raising based on extremely high multiples and soaring stock prices, the current high inflation rate signals that we are headed for an economic slowdown.
Many companies are being forced to change their habits and tighten their belts. Preventive measures also include cuts and waves of layoffs, while the likelihood of an extremely high economic recession is pushing many to strongly focus on increased sales. The logic says that in a period when it is no longer possible to rely on capital raising, those who reach or maintain significant profitability have a greater chance of surviving a potential crisis.
The key here is the online marketplace. Recession or not, it is clear that E-commerce is here to stay and grow.
What Exactly Is Conversion Improvement and Why Is It an Essential Process for Many Companies?
The cost of advertising is constantly rising and is expected to continue doing so. The ability to measure results on various advertising platforms is eroding, in part because of the change in the privacy policies of the various browsers such as Apple. Basically, brands today are mostly flying blind when it comes website traffic metrics and management. This is precisely where the ability to measure data and improve conversions comes into the picture.
Our task is to measure the movement of surfers who come to the website or application, to study it in depth, to understand what the barriers are, what it lacks, what is the motivation of the surfers, and from there, to promote and direct the surfers towards the conversion process
The conversions we look at are not necessarily for an immediate sale. Sometimes we can register the customer on a distribution list and then start talking to then and studying them on a personal level. An essential part of the process of improving conversions is a thorough study of the problems of our surfers. How many people viewed a product page, how many added it to cart, how many came to check out, and how many abandoned the sale at checkout. We are working to decipher these abandonments with the help of various tools, and of course offer solutions to the problems we discover.
How to Build a Work Process in an Orderly and Methodological Way
The goal is to have a detailed work plan and then implement it. This process deals with several different points and aspects of the client's digital and sales activity.
- Get to Know Your Clients’ Clients. Conduct an in-depth examination of the implementation of the analytics systems on the site - as well as map Traffic data on the site. How much money goes out, how much money comes in, and what opportunities are on the way.
Many, many times, clients are not able to see the impact of one traffic source on another traffic source. For example, a certain client lowered the advertising budget on Facebook, because he saw a decrease in performance on Facebook caused by a change in policy and difficulties in measuring the platform. But the advertising budget on Facebook affects the organic search on Google. The client is not aware of this and will therefore only continue to lower the budgets on the social network - thus creating a negative cycle of a continuous reduction of the advertising budgets and ultimately a decrease in sales. As part of the process of improving our conversions we address the full data picture and know how to locate all the problems that the client has and helping him identify the campaigns that waste money, as well as the campaigns that contribute openly or covertly.
- Hire Talented UI/UX Professional to Implement Goals. Improvements in the application/web site should be translated into modifications in the design and experience itself. The understanding from data of the psychological insights into why a potential customer did not buy or return largely suggests a customer either did not understand the sales steps or tired of a cumbersome process experience. Finding good programmers has always been a challenge, but site speed and bugs are critical to a good experience.
- Understand Project Management Is an Art. A product and project management service, such as those provided by B-Digital, are suitable for companies or organizations that need to set up a new complex website or application. This is not an easy task, especially in an era of significant challenges in the worlds of marketing and digital development.
Many people are used to thinking that if the development team is professional, and the UI/UX people are professional and the QA person is professional, everything will go smoothly and successfully. But the truth is that project management is an art that stands on its own. When we manage projects, we know how to create synchronization and communication maximums between all parties involved. This is how we avoid deviations in the schedule or excessive expenses.
Boris Kimelman is the owner of B-Digital based in Tel Aviv, Israel. His expertise includes high level project management and digital marketing. Boris has built an online marketing methodology for improving conversion rates across all digital platforms.