Is your digital strategy optimized for conversion?
In a time when every company is digital to some degree, your strategy is the differentiator. The stronger your strategy the easier it is to not only navigate rapid change and innovation, but as a result those companies also see higher conversion rates.
In order to optimize your digital strategy, it's important to imagine each decision the buyer is having with your brand along the way to the final conversion point. Along a customer’s journey from brand awareness to discovery to selection to purchase, there are many pitfalls that can derail their efforts to reach the end… when they buy. Understanding this journey will vastly help companies in fixing conversion challenges, ones they might not have even been aware of, and set a plan to mitigate that challenge for future journeys.
Where to Start
Work to develop or improve upon your digital strategy by putting the customer at the center of all business decisions. This will require the integration of marketing channels and technology in order to leverage key analytics and tools to methodically and incrementally improve channel conversions by continuously innovating and enhancing the experiences you’ve created. By being able to set this skill in motion and perfect it, your company will not only be able to match rising customer expectations but improve its innovation process along the way.
There are several key considerations to keep in mind when optimizing your digital strategy to drive conversion and succeed long term. We explore each of these below.
- Personalization: Buyers will come for your brand or product, but stay loyal with the personalization it offers. Data analysis is key to allowing companies to understand the habits, interests, and behaviors of buyers allowing for improved segmentation. A clear understanding of your buyer will deliver added value and improve trustworthiness and conversion.
- Engagement: Buyers are engaging with more technology than ever before in their customer journeys. It is imperative to deliver relevant content that engages buyers with the brand- that can be through shares, comments, likes, etc. This type of engagement creates a relationship between the brand and the buyer, which is especially important for long-term success.
- Analysis: Accurate and organized data analysis allows companies to execute on the items listed above, delivering the perfect message at the right time during that buyer journey.
- Communication: The whole world of social, from social platforms to company product reviews, and even chatbots have changed the way customer service teams communicate with buyers. With these channels, companies can analyze buyer reactions and better shape future innovation.
Optimizing Strategy for Conversion
Once your systems are integrated and teams working openly together, you can begin the work of optimizing your strategy for conversion. Several important aspects of this process include:
- Identify ideal buyers: Start by building or re-building your buyer persona profiles. Data such as demographics, income, careers, education, and interests can help you create these segments.
- Design customer journeys: The journey isn’t one set route. You should identify different stages users can take from their first interaction with your company to becoming loyal customers can involve many steps. Consider product information and how the intention to purchase from your company is developed.
- Identify channels: Each part of the customer journey takes place on a different channel- this could be Paid Ads, blog backlinks, or reviews on social.
- Content creation: Now that you understand the ideal buyer, customer journey, and various channels, you can start creating content for each stage of the journey.
- Analyzing and optimizing: Once everything is in place, you can start measuring the impact of your work and optimizing. Set up SMART (specific, measurable, achievable, relevant, and time-bound) goals that are centered around further improving conversion.
Create Long-Term Growth
Telling a company they should optimize their digital strategy for conversion is like telling them they should make money by making it convenient for people to buy. This sounds simple but ultimately requires the right technology and processes to be put into motion for success. If done correctly, it is a true long-term competitive advantage.
Echidna offers companies a variety of services to help optimize their digital strategy, identify new growth opportunities, and improve conversion rates. With deep industry knowledge and digital expertise, our team is dedicated to knowing our client's business in order to design a modern commerce engine that will power its next phase of growth and innovation.