Understanding some of the basics of the psychology of persuasion and how to apply them, can make a huge difference to your marketing efforts
We’ve previously spoken about how psychological principles can help shape and optimize brand communications — not least, referral marketing campaigns.
In truth, there’s a whole universe of theories and heuristics belonging to a wider field of behavioral economics.
Behavioral economics basically describes the effects of psychological, social, cognitive, and emotional factors on human economic decision making.
This obviously includes the dynamics of deciding to buy. And for this reason, having a good grasp of some key ‘cognitive triggers’, rooted in behavioral economics theory, is a good idea for any ecommerce marketer.
Let’s take a closer look at 3 of the most well-known ‘cognitive triggers’, and how they can be applied to your marketing efforts…
Anchoring and the decoy…
Learn how AWA digital helped Superfi increase conversions by a data-driven header test
Hifi retailer Superfi came to conversion rate optimisation (CRO) agency AWA digital wanting to increase the conversion rate from their ecommerce website. Using their tried-and-tested research framework (see figure below) AWA gathered quantitative and qualitative data, cross-referencing findings to form test ideas.
It became apparent early on that the website suffered from distracting links, leading people to non-sales funnel pages at key stages of the buying process and in the sitewide header.
How research feeds ongoing testing
Among the various research strands used for the project, heat mapping, Google Analytics and survey data stood out as offering some great insights for this test. As well as being able to…
Conversion rate optimization (CRO) has generated a lot of hype and it is seen as a silver bullet that will solve all the problems the ecommerce business has.
The truth is there are two sides of the same coin. The first one is that CRO is indeed as magical as the compound interest: only a 6% add of incremental increase will lead to 90% more conversions in just 12 months. This means you double your conversions and you decrease the customer acquisition cost - double strike! This is the good side of conversion optimization.
On the other hand, the bad side of CRO is that not all companies are qualified to start the optimization process, and not all the companies that adopted this technique are doing it in the right way.
Further on, in this article, I want to present you the real path of conversion rate optimization, from start to success.
Chart of the day: Unbounce reveals business consulting, travel and job training industries have the best conversion rates.
The comprehensive report, which evaluates thousands of conversion rates has found the three industries with the highest conversion rates.
Business consulting, whilst most likely receiving low levels of traffic appears to convert well, whilst job-related training also has high conversion rates which is good news for elearning related websites and training providers! Travel is as strong as ever, with demand for flights, hotels and holidays as high as ever, the travel industry enjoys a decent conversion rate and the lending industry isn't far behind - there is still demand for loans and credit.
It could be something to do with the mindset of customers who are interacting with these industries. When people are looking for credit, after assessing options, they are likely to go ahead and proceed as…
Conversion rate optimization (CRO) is the process of converting more of your website visitors into leads for your business
Especially in long B2B buying cycles, the ability to generate more Marketing and Sales Qualifies Leads (MQLs & SQLs) is crucial for long-term success. That said, in recent years, marketers have become preoccupied with driving more traffic to their website, they’ve overlooked the power of CRO. In fact, for every $92 spent acquiring customers, only $1 is spent converting them.
B2Bmetric have created an infographic on 16 ways companies can start focusing more on CRO and generating higher conversion rates and more sales online.
Thanks to Ben Brown for sharing their advice and opinion in this post. Ben is a B2B marketer, PPC fanatic and Burrito enthusiast at B2Bmetric.…
See better results and bigger wins using a test-driven B2B marketing strategy
Gambling on hunches when deciding which tactics and channels will help you achieve your goals is a flimsy strategy that could land you on the wrong path.
The same mistakes are made far too often. Marketers try a channel once, get a disappointing result, and decide the channel doesn’t meet their needs. Or after the channel fails to produce, they continue to plug away at it forever, assuming things will eventually work out.
Good channels don’t always reveal themselves right away, and bad channels don’t turn into good ones after meeting a nonexistent spending threshold. To avoid early abandonment and wasted budgets resulting from a prematurely folded hand, employ small marketing tests to evaluate channels across multiple audiences and creative approaches before the next round of betting.
The most successful marketers analyze new marketing channels according to not only their current performance…
5 easy steps to improve your ecommerce conversion rate using personalization tools, segmentation, interaction data (AOV and RPV) and campaign split testing
As a marketer you’re always seeking the holy grail that will grow your revenues, that insight that tells you exactly which design updates are increasing your ecommerce website’s key conversion metrics like conversion rate, average order value (AOV) and revenue per visitor (RPV), and - equally importantly - which are not!
The good news: 2017 is an awesome year for conversion optimization tools. We’re now way beyond the ‘seeing’ part - voyeuristically seeing what visitors are doing, where they most click and scroll. Now, by investing in a personalization platform, you can analyze your visitors’ specific interactions, and understand which of them correlate with higher conversions and revenues.
Below I share the five steps for doing this.
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A case study of how a retail brand ran a personalisation program to improve engagement
Jack Wills, a retail fashion store, has used personalisation to boost conversions for new and returning customers.
What results have Jack Wills seen since running their personalisation program?
12% increase in conversion rates
8% increase in Add-to-basket
Reduced basket abandonment
Using Monetate, a personalisation software for consumer-facing brands, not only has Jack Wills increased their conversion rates, they have also reduced their basket abandonment.
Personalisation is key
A number of changes were made to their online store - including 'sticky filter' functionality and personalised rules for displaying products to give customers a better and more engaging user experience.
Through personalisation, new customers to the online store are shown product category pages with 'bestseller' products, whilst returning customers are shown 'new arrivals' on the same pages. This is because extensive…
Chart of the Day: Which optimisation techniques are marketers using to create better experiences
I was doing a customer onboarding training session with one of our Business members last week and when I was talking to the digital marketing manager and team, our conversation quickly turned to what is a good conversion rate and the best techniques to improve it. Their UX specialist referred to it as 'crow' and it made me think how many people involved in marketing know or use this term for conversion rate optimisation. Since our research shows that despite its potential power to increase leads and sales, it's not as widely used as you might expect.
In our recent managing digital marketing report, we asked about a range of techniques used to research and improve customer journey effectiveness. It was good to see that techniques such as customer persona research and customer journey mapping…
Optimize the forms on your website to maximize your revenue opportunities
Usability Testing forms a massive part of the User Experience Research we carry out, so naturally, we observe a lot of forms being filled out!
With the amount of time we all spend form filling online you'd think that creating an easy-to-use form would be a 'piece of cake'. Sadly, it's not and there are plenty of substandard forms out there preventing users from getting what they want.
Here are six mistakes that you can avoid to ensure your forms contribute to a positive experience for your customer’s, rather than hindering them from making a purchase (let’s be honest, no one wants that!).
1. Think before you ask
Customers see the data they enter online as an exchange - they give you information and you give them what they want. But if that balance is off and it's not clear why you need the…