For most businesses — when it comes to marketing — many would think of advertising; or simply “how do I get more customers?” These days, we can be lost in the sea of marketing jargon and catch-phrases, especially in a highly digitalised society. Marketing lingo such as “vlogging”, “CRM”, “CPC” or even “SEO” didn’t exist that long ago!
Here’s another one. We hear people talk about “Conversions”, but how many of us actually understand what it means?
Take a quiz below – a Conversion is:
a) a site visitor buying something on your website
b) having someone click on your ad or link
c) a new customer taking up on your special offer/ coupon
d) mmm… all of the above?
Well, if you were thinking (d), you’re right! Conversion, simply put, is getting someone to take action from your marketing message. So there are many different ways to achieve a conversion result other than just sales.
For example, Wikipedia explains that a customer may abandon an online shopping cart. So a business may send an offer (marketing message) to this person, such as free shipping, to convert the visitor into a sale (action).
Consider another example; an online retailer may consider a successful conversion to be the result of clicking (action) a banner advertisement (marketing message) to shop at their site. Or to content creators, a successful conversion may refer to a newsletter sign-up, membership subscription, coupon download, or other call-to-action.
So what does Conversion mean to your business? Next time you plan a campaign, determine what your goal is. Do you want people to sign up to your newsletter or download your free audit? Then think about how to achieve this goal – ie. conversion optimisation. This will involve coming up with a target market – who do you want to convert? Which medium should you be using? Then, measure your conversation rate based on the goal, and you can see how effective your conversion campaign is:
Conversion Rate = Number of Goal Achievements / People targeted
You might be thinking – where does this all lead to? With small conversion steps, it should eventually lead to the ‘ultimate conversion’: Sales, which is what keeps your business running. However, a closer look reveals the importance of understanding who your customer is (so you can convert them!).
Excited about going out there to ‘convert’ some people? Not sure where to start? Let Concept Designs & Marketing help! Start with our FREE marketing audit to see if you’re on the right track! We can also help you formulate conversion strategies to achieve your goals each step of the way. Get in touch today!
Reference: https://en.wikipedia.org/wiki/Conversion_marketing
