Infographic: Shopping Cart Abandonment and Tips To Avoid It

Shopping cart abandonment is a stubborn obstacle to selling online. Companies work hard to reduce their rate, but a percentage of shoppers still slip past. In fact, shopping cart abandonment rates overall are on the rise.Business I…

Shopping cart abandonment is a stubborn obstacle to selling online. Companies work hard to reduce their rate, but a percentage of shoppers still slip past. In fact, shopping cart abandonment rates overall are on the rise.Business Insider reports that...

What does “customer loyalty” mean for ecommerce brands in 2016?

This is a guest post from Erin McElwee, a conversion consultant at Blue Acorn, an award-winning agency that helps leading B2C and B2B brands maximize their online revenue. Before the technology to power online personalization was p…

This is a guest post from Erin McElwee, a conversion consultant at Blue Acorn, an award-winning agency that helps leading B2C and B2B brands maximize their online revenue. Before the technology to power online personalization was possible, brands were...

Making Marketing Analytics Simple And Easy To Understand

Does the thought of marketing analytics make you cringe? Does it seem overwhelming and time consuming? Many business owners find analytics and reporting a cumbersome task and one they put off until absolutely necessary. If this is you, or you’d like some advanced tips on measuring data, this is the article for you. We look […]

The post Making Marketing Analytics Simple And Easy To Understand appeared first on Landing Page Optimization Blog.

Making Marketing Analytics Simple And Easy To Understand

Does the thought of marketing analytics make you cringe? Does it seem overwhelming and time consuming?

Many business owners find analytics and reporting a cumbersome task and one they put off until absolutely necessary. If this is you, or you’d like some advanced tips on measuring data, this is the article for you.

We look at making marketing analytics simple and easy to understand so it’s something you want to do, not grudgingly have to do.

First, let’s define marketing analytics.

Marketing Analytics Is…

Marketers (and business owners) use marketing analytics to evaluate the success of their marketing initiatives.

These analytics make up the processes and technologies to measure their performance.

Bottom line – marketing analytics tell you if your marketing programs are working.

You want to gather your data from all of your marketing channels and consolidate it into one common view. From here, you can decide how to drive your future marketing efforts.

To increase your lead generation and ultimately your conversions, you’ve got to know how to interpret your data.

Many business owners think marketing analytics are best left to the experts. We’re here to tell you that you are the expert. No more worries about metrics. You can do it.

To create your report, you want to attend to these items first:

  • Ask yourself what you want to learn.
  • Find the report that answers that question.
  • Put it into your overall marketing analytics.
  • Include a balanced assortment of reports.
  • Assess your strategies.
  • Then, you can use your report to change or revise your marketing strategy.

Here’s how to make marketing analytics simple and easy to understand.

Take Little Bites

When gathering your data, you often have access to multiple metrics. In the beginning start small.

A good place to begin is with page views, conversions and visitor information.

You want to track the most important information first. After you get accustomed to analytics and reporting, you can dive deeper for more metrics.

Marketing experts put much of their emphasis tracking conversions. Why?

This is a much more accurate number for you to gauge your success. Conversions track actual customers doing something on your website, like signing up, downloading information or buying something.

Your conversion rate focuses on dollars and the value of your visitor.

Be the Master

The true analytics expert knows which metrics and data matter and which ones don’t matter so much.

The fact is you don’t need to track everything. It’s too hard to stay on top of it all.

For example, if you want to focus on lead generation, your most important data is page views and your opt-in rate.

Understand Your Data

It also helps to narrow your focus to the most relevant metrics so you know what data to capture.

Here are some areas to look at depending on your business:

Ecommerce businesses can look at conversion rate, total revenue, orders completed, average order value, drop off rate and where that happens and full on cart abandonment.

A business to business company might look at page visits, page views, conversion rate and leads generated.

A business to consumer company might focus on conversion rate, click-through rate and orders completed.

Remain Objective

It’s easy to selectively look at your data and search for things that confirm a hypothesis. You might have something in mind you want to confirm and find data that validates it, but that leads you to ignore all of the contrary information.

Don’t get caught up looking for metrics that confirm what you expect and disregard all other data.

Be objective and look at the data from multiple angles.

For example, many people think a high bounce rate is due to the fact that visitors didn’t like your page. But you have to ask these questions:

  • What is happening?
  • Why is it happening?

Your first instinct is to attribute a high bounce rate to people not liking your page. Yet, there are many other reasons your landing page may have a high bounce rate:

  • Your content is superb and meets the users’ needs, and you only have one call to action that people take and then “bounce” off.
  • The landing page was simply to collect an email address, thus they bounce when they were done.
  • Your page load time is too high.
  • Your page doesn’t meet users’ needs.
  • Users landed on your page from a Google Ad campaign, and your page didn’t match the ad.

The goal is to assess why you have a high bounce rate before arbitrarily deciding you have to redo your entire page.

Know the Value

You’ve probably searched Google for “What’s a good conversion rate?” That isn’t necessarily the same information for everyone.

You want to understand the value of your analytics for your industry. Don’t stack your business up to businesses in other industries because their “good” conversion rate may not be yours.

Your Google search should instead be for, “What’s a good conversion rate in my industry?” Once you’ve narrowed down the field, you really can compare rates.

Comparing to unlike industries sets you up for misplaced expectations.

Final Thoughts

Now that you know how to make marketing analytics simple and easy to understand, we want to leave you with a few more thoughts.

Take advantage of these advanced ways to break down your marketing into analytics you can understand.

If you don’t, you’ll end up with a bunch of marketing information cobbled together that has no relationship with one another.

To make the best decisions for your business, you have to take your entire marketing picture into account.

This means your social media insights, your Google analytics and your emails stats. It means taking a look at all of your marketing efforts in one place so you can decide how to proceed.

Use your marketing analytics to make sound business decisions and drive your future marketing. Use them to refine and test your lead generation to increase your profits.

Tie your marketing efforts to your leads to your bottom line, and you’ll quickly see what’s working and where you can improve.

So, say goodbye to marketing analysis paralysis. Use these advanced tips to make it work for your business.

Are you ready to squeeze more profit out of your website by analyzing your marketing metrics? That’s terrific! We’re here to help you optimize your website so it works fluidly for your website visitors. In fact, we promise you we’ll do just that.

 With our guarantee, you can rest assured we will increase your profits through landing page optimization.

 If you’re ready to work with the leader in landing pages and conversion rate optimization, contact us today.

We’ll provide you with our FREE site performance analysis so we can work on your landing page conversion rates.

Image: Kazuend

 

The post Making Marketing Analytics Simple And Easy To Understand appeared first on Landing Page Optimization Blog.

Why ecommerce personalization doesn’t have to be a struggle

CMSWire recently posted a great writeup about a recent Accenture Interactive report. The name of the post: Many marketers still struggle to master personalization. The crux of the findings from the Accenture report are: Personaliza…

CMSWire recently posted a great writeup about a recent Accenture Interactive report. The name of the post: Many marketers still struggle to master personalization. The crux of the findings from the Accenture report are: Personalization is often not relevant...

Dynamic Testing drives 10% click-through lift for multichannel home luxury retailer Frontgate

The very first Frontgate catalog was delivered to 300,000 households wayyyyy back in 1991. It featured the finest home furniture, décor, and more. Today, Frontgate is the leading home luxury multichannel retailer with catalog, ecom…

The very first Frontgate catalog was delivered to 300,000 households wayyyyy back in 1991. It featured the finest home furniture, décor, and more. Today, Frontgate is the leading home luxury multichannel retailer with catalog, ecommerce, and brick-and-mortar operations. This...

Your Definitive Guide To Customer Acquisition

Customer acquisition is the process you go through to gain new customers. It’s how you persuade people to purchase your products or services. Are you doing enough to increase your customer acquisition rates? In this article, we provide your definitive guide to customer acquisition. You’ll learn some advanced strategies for acquiring, and keeping, new customers. […]

The post Your Definitive Guide To Customer Acquisition appeared first on Landing Page Optimization Blog.

Your Definitive Guide To Customer Acquisition

Customer acquisition is the process you go through to gain new customers. It’s how you persuade people to purchase your products or services.

Are you doing enough to increase your customer acquisition rates? In this article, we provide your definitive guide to customer acquisition.

You’ll learn some advanced strategies for acquiring, and keeping, new customers.

First, let’s look at the cost of customer acquisition.

The Cost

An often neglected part of the customer acquisition process is the cost to do so.

For small businesses and even established ones, this cost can quickly get out of control if it isn’t watched and monitored.

The most successful businesses can rattle off their customer acquisition cost numbers. To help you know your customer acquisition costs (CAC), follow this formula:

  • Take the entire cost of your sales and marketing over a specific time period and divide it by the number of customers you acquired in that same period.

For example, if you spent $1000 on marketing in one year, and you acquired 1000 new customers that year, your CAC is $1.00.

Another helpful number to know is the Lifetime Value of a Customer (LTV). To find this number, you look at the gross margin you expect to make from that customer over the lifetime of your relationship.

In a well-balanced business model, your CAC shouldn’t exceed the LTV of your customer. It should be significantly less.

Now, it’s time for the advanced tips on customer acquisition.

Content Marketing

You’ve probably heard that in this century, content is king. This phrase was coined in 1996 by Bill Gates who saw the future of the Internet as a marketplace for content.

It turns out that content is an allover great tactic for acquiring new customers.

Why? The content you publish on your website allows you to meet new and potential customers head on with the content they need.

By providing your website visitors with the content they want and need, you’ll not only meet their goals, but yours as well. Intrigue your site visitors with practical, useful, educational, important and sometimes humorous content, and you’ll encourage them to sign on as your customer.

Search Engine Optimization

You’ve got the great content to attract new customers, but have you properly optimized it?

Customer acquisition can’t happen if people can’t find your content.

Share your content through email marketing and social media. The more shares and links back to your website, the better. These work together to increase your natural, organic rank in the search engines.

Conversion Rate Optimization

Once your visitors land on your website, you have to do something with them. If they simply land on a page with content, but they don’t see any further actions to take, they’ll just bounce off.

When it comes to customer acquisition, your conversion rate optimization matters. Improve your landing pages to increase your leads and your sales.

Consider A/B testing your copy, calls to action buttons, colors and images to see what works best.

Copy Writing

A piece of your conversion rate depends on your copy – the body copy and your headlines.

Your copy is important. Give great thought to your headlines. Are they catchy? Do they match the content? Are they spot on or misleading?

Then look at your body copy. It should be specific and succinct. Choosing the right words here can make the difference between a sale and a bounce.

If you aren’t sure what works, test your landing pages. This is the best way to find out what copy converts the best.

Social Media Marketing

Social media is another terrific tactic for customer acquisition.

Use your social media platforms to get people back to your website where you can intrigue them with your quality content and then encourage them to take your desired action.

Email Marketing

Have you started building your email list? It’s an essential step to customer acquisition.

For example, a website visitor lands on your optimized landing page, reads your optimized content and then clicks on your call to action – signing up for your email list.

Once on your email list, you can continue to market to them in the privacy of their own inbox.

All of your inbound marketing and SEO worked to encourage them to join your email list. Through your future email marketing, you can direct them to your products and services.

Analytics

Don’t forget your analytics.

The only way to know if your customer acquisition tactics are working is by analyzing your data. Your analytics shows you which of your tactics are most successful and which pages your customers are visiting or leaving.

Use your Google Analytics to see what’s happening on your website. Set up funnels, view your traffic sources and rules and set up your goal tracking.

Then, take a look at who is visiting your website. Find out what they do before and after they sign up on your website or take another action.

A good way to analyze your metrics is to start by making goals and working backwards. Since we’re discussing customer acquisition, that is your goal here.

Then build the funnel. Perhaps it starts with an email sign up, and then you send them an email inviting them to a free trial of your product or service. Ultimately, you hope they’ll convert to full paying, lifetime customers.

Identify your metrics in your funnels. You want to know things like who signed up for your email list or white paper and then who converted into a paying customer.

Final Thoughts

You see that in your definitive guide to customer acquisition, you have many advanced tactics at your disposal.

You’ll find that there are many different ways that lead to the same end goal of customer acquisition.

How do you choose the right strategy? First, you have to know you target audience. Next, you have to know how they’ll make their way through your sales funnel. Do some research on both your audience and your customer acquisition funnel before you create your acquisition strategies.

And, remember, you don’t have to choose just one tactic. Use a few and integrate them for the best success. Your ultimate goal is to increase your website conversion rate through the acquisition of new customers.

Test your strategies, and then test them again. Use what works and refine the rest.

You’ll soon be on your way to growing your company through targeted customer acquisition strategies.

Are you ready to squeeze more profit out of your website by optimizing your leads and your lead generation process to drive your business online? That’s terrific! We’re here to help you optimize your website so it works fluidly for your website visitors. In fact, we promise you we’ll do just that.

With our guarantee, you can rest assured we will increase your profits through landing page optimization.

If you’re ready to work with the leader in landing pages and conversion rate optimization, contact us today.

We’ll provide you with our FREE site performance analysis so we can work on your landing page conversion rates.

Image: Alvaro Serrano

The post Your Definitive Guide To Customer Acquisition appeared first on Landing Page Optimization Blog.

Optimize your website for holiday conversions with the 2016 Monetate Holiday Prep Guide

Every year during the first week of August, the Monetate Strategy & Insights (S&I) team meets in a well-lit room at the back of the office. They dust the cobwebs off their favorite festive holiday mugs, pour a generous se…

Every year during the first week of August, the Monetate Strategy & Insights (S&I) team meets in a well-lit room at the back of the office. They dust the cobwebs off their favorite festive holiday mugs, pour a generous serving of hot...