You can’t have missed the buzz about how big data tools can take your business to a whole new level. They can, but, by themselves, they are not going to solve all your business challenges. Often, they suggest opportunities you can turn into insight and specific solutions. But, other factors directly influence how successful your big data strategies will be.
One of the most important factors influencing success is integrating conversion rate optimization principles into your business practice. This was important back in the mid-90s–back in 1995, Amazon hit the ground running with conversion principles firmly in place. It’s just as important today.
Do you want to know how satisfying your customer experience is? Look at your conversion rates (the number of visitors who made a purchase / the number of visitors who came to your site during a set period of time). That metric isn’t the only one you need to follow, but your conversion rate is first and foremost a measure of your ability to persuade visitors to take the action you want them to take. It’s a reflection of how effectively you satisfy your visitors and customers. For you to achieve your goals, your visitors and customers must first achieve theirs.
If you want those big data tools to work for you, you need to pay relentless attention to the principles of conversion rate optimization. They are quite simple. Getting them just right is the piece that requires you to roll up your sleeves.
- Great brands, products and customized buying experiences naturally generate better conversions
- Follow the hierarchy of optimization (functional, accessible, usable, intuitive, persuasive)
- Master the conversion trinity (relevance, value, call to action)
- Understand optimizing your conversion rate applies to your entire site; it’s not limited to a landing page
- Optimization is not a one-time event or project; it’s an ongoing process
Optimizing conversion rates is not exciting. It’s boring, repetitive, detailed, but necessary work, much like general management. (However, big data testing tools—Monetate is one example—can automate and alleviate much of the drudgery.)
There is a part of the big data/conversion equation many overlook. Data is a valuable commodity no matter how much of it you have. Some businesses are not mentally or structurally ready to shift their efforts into big data territory. Some businesses simply can’t afford it at this point—big data tools are becoming cheaper, but they aren’t yet a Global 5 Million, as opposed to a Fortune 100, solution. And, frankly, big data tools may not be the right choice for all your businesses needs.
As you monitor the big data landscape, keep in mind basic analytics are still a powerful way to understand how to improve customer satisfaction. The granularity of information you can derive from big data creates a much better picture of what is happening in your relationships with customers, but the benefits of conversion rate marketing do not depend on the degree of granularity alone.
Data is nice. Tools to turn data into information that can provide insight is nice, too. Putting however much data you have to good use within a conversion rate marketing framework is essential.