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Conversion Rate Optimization (CRO) - 2

 Conversion Rate Optimization (CRO) - 2
Perusal Tech Pvt Ltd
  • 19 Aug, 2021

CRO BEST PRACTICES:

 

(1) ITERATION: The key to CRO is Iteration. You're not going to do a test and find out that you doubled your conversions. That's very, very rare. It happens, but once in a blue moon. Typically it's a lot of little things that add up that truly help you optimize your conversion rate.

 

(2) ONE TEST AT A TIME: The big secret is, one test at a time per step within your funnel. So for example, if you have a pricing page, you don't want to run two to three tests at a time on that exact pricing page. But you can run a test at a time, one on your pricing page, maybe one on your contact page, maybe one on your homepage, and that's fine, assuming you have enough traffic. So that way you can get to statistical significance quick enough.

 

(3) VERY SIMPLE TWEAKS: And you ideally want to start with very simple tweaks. And then from there, get into more drastic changes if you can't continually get more wins, right? So once you stop getting wins from the simple stuff, that's when you want to go into drastic changes.

 

(4) KEY PAGES TO OPTIMIZE: Well, there's quite a few, and I'm going to cover some of them in a bit. But when you think about the key pages to optimize, I'm not just talking about SEO. Typically when people think about optimization, they're like, oh, metatags, title tags, your schema markup, how friendly is your code? That's a lot of SEO stuff, but there's also on-site code that you can optimize for Conversion Rate Optimization, such as, do your titles in the copy helped generate the most sales? How about the bullet points within your copy? Or the descriptions within your paragraphs? Or how about the keywords that you're using, do they appeal? How about the keywords within the call-to-action-buttons? All this stuff can drastically change your conversion rate.

 

(5) YOUR SALES PROCESS VISUALISED: Your sales process is not as simple as just getting traffic and then it drives revenue. It more so looks like this where there's a lot of different points from e-mails to ads to upsells, and the list goes on and on. But funnels and sales processes are complicated no matter what if you're in B2B or B2C.

 

(6) PAGES TO OPTIMISE: So, if I were you, there's a lot of pages that you could optimize, anywhere from your about page, to your key product details pages to your exit pages, your main landing pages, your conversion asset pages. There's a lot of pages. There's not necessarily an order on which page is more important than the other because every website is different. If you get 10 times more traffic to your checkout page than you do to your contact page, you probably want to start with your checkout page when it comes to optimization before your contact page.

 

(7) YOUR CUSTOMERS ARE HUMAN BEINGS: When you're thinking about Conversion Optimization, keep in mind, people who are buying from you are human beings. Figure out what appeals to them. How can you make them happy? How can you delight their socks, or more so knock their socks off? If you do that, you'll start generating more sales.

 

(8) PRICING: Now I want to get into a pricing example because pricing can impact your revenue, even the simplest and littlest tweaks. So there's this company called Gumroad, and they observed a conversion lift of up to 118% when they started charging $1.99 versus $2. There's not that much of a price difference between $1.99 and $2, it's just one cent. But psychologically, people believe that it's a lot less and that every penny saved makes an impact on them. So when you're thinking about your pricing, think about what is more appealing to people. And $9 is more appealing than $10.

 

(9) CONVERSION POINTS: There's also a lot of conversion points within your sales process. When I broke down that sales process and how there are e-mails and different trigger points. But a few of them to start with are your ads, your landing pages, your offers, your emails, your upsells, easy things that you can love when it comes to conversions.

 

(10) LOGIC EMOTION: When you think about people, they have different sides to their brains. Are they logical, more emotional, and you want to try to appeal to both sides, not just to one? So then that way you can maximize your conversions.

 

(11) EXIT INTENT: And another thing that I love doing is leveraging exit intents because people are leaving your website. It's a question of where are they leaving and how can you maximize your sales from that?

 

(12) SPLIT TEST RESULTS: When you're running split tests with things like your exit and tamp, you'll find that some variations have more conversions than others or less, but it's all about testing. Finding out that you may do something simple to collect e-mails or you could do something more complex like offering a discount right there and get someone to check out. It varies and you should test different offers.

 

HOW TO USE CRAZY EGG TO INCREASE YOUR CONVERSION RATE?

 

Crazy Egg is a tool that can help you see how your visitors engage with your website and figure out how you can modify them so you can easily improve your conversions.

 

SNAPSHOTS:

 

• You can monitor visitor interactions through different software.

 

• With Crazy Egg you can create a Snapshot of your page and like your page changes, you can see how visitors interact with different variations of your site, so you can improve your conversion rates and get a better understanding of how people truly interact with your website.

 

HOW TO USE SNAPSHOTS?

 

• You can choose a variety of advanced choices while making a Snapshot.

 

• You can pick the system form to monitor let's say desktop, mobile, or even tablet.

 

• You can determine the expiration time of when you want to stop tracking.

 

And Snapshots are really important because as you make changes, you can see again how visitor interactions change specifically on different devices. Like if you do a redesign or a new learning page design. So that way you can see did your change, was it good overall or bad?

 

HEATMAPS:

 

Another element within Crazy Egg is Heatmaps. A Heatmap is something that shows you where people click and engage on your site. This tool helps you evaluate and analyze how people engage within your site. It's a graphical representation of all the places users clicked on your website whether it's a link or a dead click, or they're just reading and they're clicking around on your text, you can see that all within the heatmap.

 

HOW TO ANALYSE HEATMAP?

 

• This data can help you better redesign your website, decrease your bounce rates, have fewer drop-offs, improve your overall user experience, so that way you can get more sales.

 

• SEO is also encompassing user experience and how users interact with your site. Google wants to make sure that they're just not ranking sites that have more links for better on-page SEO but they want to rank sites that have the best user experience as well.

 

TIPS TO ANALYSE HEATMAPS:

 

• Make sure that your call-to-actions are being seen and they're being clicked on. If you're noticing that no one's looking at them or clicking on them, you can change the placement.

 

• Place the content in the order of importance to your users, just don't place content however you want. If certain parts of your content are more important than others, make sure they're placed in the right areas where people see them.

 

• Track what's going on behind pop-ups or forms or login screens as well so that way you can optimize the whole experience instead of just a little bit of it.

 

• Set up a conversion process or pages for success so that way you can truly win.

 

SCROLL MAP:

 

• Then there's a Scroll Map within Crazy Egg. And a scroll map is what it sounds like. It shows you what percentage of users scroll where. And it's not what you always think. People always say, "Oh, people just don't scroll down. And they just view the top part." Well, sometimes they view parts in the middle more than they do at the top.

 

• It's not just how long they're scrolling this. It's also how much attention they're putting on those elements and the scroll map tracks all of that. So it'll give you an idea of where you need to place your most important elements.

 

• In essence, what are the hottest elements on your webpage and what do you need to be placing in there? And that's what a scroll map can help you with.

 

• With Crazy Egg, you can easily see what aspects of your website are distracting users versus which ones are causing them to drive more revenue and sales or leads for you.

 

• You can see how individuals are directed by different campaigns to your website and how they act based on those campaigns.

 

• You can see whether it's from paid ads or email or SEO. You can segment all your traffic within Crazy Egg and see how different audiences interact with your web pages differently. So then you can create different experiences for let's say the paid users versus the organic users.

 

SCROLL DEPTH:

 

• And here's an example of scroll depth, the most viewed section of a page is just above the fold at roughly 550 pixels with 80% viewership.

 

• Most visitors scroll before the page loads completely.

 

• And the portion of the page just above the fold is nearly seen by all the visitors.

 

Now, this doesn't mean that you should just put your call to action above the fold because sometimes you got to educate and get them a little bit more information before you try selling them on anything.

 

ENGAGEMENT ACROSS THE PAGE:

 

You need also look at the engagement across your whole site and your whole page, not just above the fold.

 

For example, they engaged time. It peaks roughly just below the fold. That means a lot of people are spending a lot of their time scrolling and looking at the elements right underneath the fold. So you need to pay attention to what you're putting right beneath the fold. And pixels at the top are viewed for about four seconds. The amount of viewing time increases to peak by about 1,200 pixels down. In essence, the people who are scrolling more tend to be more engaged and you need to figure out what elements you need to place within those peak elements so that way you can maximize your revenue.

 

CONFETTI & OVERLAY:

 

• Then there's also the confetti and overlay reports in Crazy Egg. Confetti is just like, it looks on the right side. It's all these dots in different colours and the dots represent different traffic sources and you can segment it. Heck, you can even segment it by day, by time, by weekend versus weekday, Bing versus Google.

 

• You can segment your traffic by all the different variations to see what you need to do to improve your conversion rates.

 

• Do people click on buttons or are they clicking on elements that aren't clickable and they're confused? These are all things that you can fix and tweak.

 

• The overlay on the crazy egg, the cool part about that. And you just click on the overlay button in the navigation. It shows the exact number and the percentage of clicks to every single element.

 

• All you need to do is click the plus marker next to any clickable feature and the way your guests view your website is generally different from how you expected it to be.

 

So I recommend that you run an overlay report on Crazy Egg.

 

OVERLAY ON CRAZY EGG:

 

My favourite part about the overlay is I can see the dead zones, the other clicks. These are the elements that they're clicking on that aren't clickable that you need to fix so that way you have a better user experience. Almost every site have these just as website owners and marketers we tend not to think that people are clicking on them, but they are.

 

LIST REPORT:

 

• Then you have the list report. This just gives you a list of every single element in a tabulated format.

 

• So you can see a breakdown of what people are clicking on and what they're not.

 

• Whether it's visible or not visible, you can see that within the list table and you just look at the not visible or both or the visible and I recommend that you check them all out. So again, that way you can figure out percentage-wise what's getting a lot of clicks, that's less necessarily not visible that you need to fix and change. So that way you can improve the user experience.

 

• One of my favourite features of the list report is anytime that you click on a specific element in the list report it brings up the overlay report. So you know what it is and how people are engaging and using the specific element or clicking or experience on your site.

 

RUNNING TESTS:

 

• You can also run tests with Crazy Egg. You can run a lot of AB tests, and testing is a continuous process. You always need to iterate and improve.

 

• Testing is the ideal method for assessing and iterating. So that way you can get early wins.

 

• Saves you both time and money. You don't want to just make tests based on what you think is going to win. You want to do a base on what the data is showing you and we'll dive more into that next week when we go into the second week of CRO Unlocked.

 

HOW OFTEN TO RUN TESTS?

 

So if you're wondering how often you should run tests, well, it depends on your niche, your industry and how many conversions you have. If you have a lot of conversions as I do, you can usually run one to two tests a week. If you don't, sometimes you may only be able to run one or two tests a month. And again, it depends on your niche as well as how many conversions you have. But don't worry about how often you can run tests, just more so run them. And if you do that you'll continually improve your revenue over time.

 

HOW TO OPTIMIZE YOUR SITE OVER TIME?

 

Again, you need to do tests and analyze the results.

You need to feed data into Crazy Egg.

You need to use data to drive growth.

New drive more leads, sales and customers.

 

And just go and try to sign up for Crazy Egg to have a free trial and go run a few tests. And it breaks down how to actually do this with the overlay and confetti and just go through it. It has a wiziwig that's easy to use and go through this onboarding process. It's again, a free trial. And then you'll start collecting data so you know what you need to optimize.

 

HEURISTIC ANALYSIS:

 

There's this thing that's also called heuristic analysis where you think about how people are engaging with your overall site and what you need to do from a UX interaction design standpoint, to improve everything. And it's the evolution of CRO and that's where people are going. It's not just based on, oh, what button colour should I use or what text? It's about how do you improve the experience for people? And if you do that, that's how you win in the long run.

 

USER RECORDINGS IN CRAZY EGG:

 

Now, one of the features in Crazy Egg is user recordings in which you can see the mouse movements and video recordings of how people are interacting with your website, where they're getting stuck, what issues they may have so that way you can fix it and improve your conversion rate.

 

HOW TO USE RECORDINGS?

 

Well, you go to Crazy Egg, you set it up, it has a Wiziwig or morsel walkthrough wizard, there's also technically a Wiziwig through their A/B testing feature. There is a walkthrough wizard that teaches you how to set up recordings and you can set it up within a minute or two.

 

• Recordings are videos of visits to the website from actual users.

 

• Recording will give you an understanding of the user journey on your web that your users are taking.

 

• How long it takes time to browse, scroll and any obstacles they face along the way?

 

HOW TO USE RECORDINGS ON CRAZY EGG?

 

When you're going through the process you pick your site. If you have multiple domains, you can set up on multiple sites and when the recording is enabled, Pay Tracking lets you pick which pages, which views that you want to see when people have rapid clicks because they feel like something is wrong. And you can see from the image on the right side that's an example of a screen recording where you can pretty much see your website and see how people are scrolling, clicking, where they're converting et cetera.

 

• If you have more than one site (domain), you can pick the sites on which you want recordings to be turned on.

 

• When a recording is enabled, Page Targeting lets you pick.

 

SAMPLING RATES:

 

And when you're doing this video recording, you don't have to record every session, you can just do 500 sessions straight or every other or random sampling, there's a lot of options. Pick what works for you.

 

UNIFORM: 500 sessions will be recorded.

 

CONSECUTIVE: Every visitor session will be recorded until a specified number is reached.

 

CUSTOM: Specific number of sessions that you'd like to record over a fixed timeframe.

 

QUANTITATIVE RESEARCH:

 

In addition to user recordings, you also need to look at Quantitative Research. And there's a lot of cool things that you can get from quantitative research but you've to keep minus only one piece of the puzzle and you need a capture data to make it useful. And a lot of that data typically ends up coming from surveys, questionnaires, analytics but it's also necessary to make sure that you're looking at the right audience and you have enough of a sampling to conclude it. Because if you have a survey and three people gave you data on their conversion rate and things like that, technically you wouldn't survey them about your conversion rate but you would survey them about let's say pricing for example or you're surveying on let's say what products that you may end up releasing in the future, what features they may end up wanting to see. Fill two people to respond, it's not enough to make an informed decision.

 

And then there are also qualitative data as well. And Qualitative is more opinions. Let's say you're not talking about numbers such as bounce rates or where people are exiting like exit pages or click-through rates, all those kinds of things are more quantitative. Qualitative is just feedback like I don't like the colours or this text doesn't appeal to me or I don't understand what's wrong with this page or how to fix it.

 

• The main goal of quantitative research is to collect accurate, structured facts and statistics to drive important business decisions.

 

• In addition, only one piece of the quantitative analysis puzzle is the capture of data.

 

• It must be coordinated, evaluated and convert to decision-makers to exploit it as actionable and accurate market intelligence.

 

• Often, quantitative data from primary research is collected by surveys and questionnaires.

 

• It is necessary, however, to ensure that the respondent full is sufficiently broad.

 

• And make sure the appropriate attempts are taken to ensure the quality of information.

 

CONVERTING TRAFFIC TO LEADS:

 

And when you take and combine this data, that's how you're going to be able to convert the most traffic into leads. And you'll find that a lot of it has to do with Conversion Funnels, such as how people are going throughout your website and the best funnels oftentimes are a bit more complex than this.

 

And one thing that we found is EXIT INTENTS work well especially if they're conditional, when you ask a yes or no question in an exit pop-up it tends to do better than if there is no yes or no question, you're just asking them for the carrot, the carrot being the name and e-mail or asking them to purchase right away. We find that always when you ask a yes or no question first, it just tends to work better.

 

• Conversion funnels are not quite as simple.

• The best sales funnels are oftentimes a bit more complex and this.

 

LANDING PAGES:

 

I also want you to use Landing Pages because you can create specific pages on your site to create a specific experience for a specific type of user and then maximize your leads or even sales.

 

• These pages allow potential customers to turn to the next step in the experience of the buyer.

 

• These pages are aimed at creating needs as you pull prospects deeper into the consumer funnel.

 

LANDING PAGES TIPS:

 

• Use high-quality images.

• Limited choices.

• Use testimonials, your customers can sell your product the best.

• Limited scrolling length.

• Make them an offer they can't refuse.

• Add videos to your landing page.

• Landing pages with videos are 50 times more likely to show up on Google searches.

• People interact more with video content and written content.

 

CONVERSION RATE OPTIMISATION:

 

If you use the asset over time and you follow all the instructions that I'm giving, you'll be able to improve your Conversion Rate. And that's what Conversion Rate Optimization is all about. It's increasing your conversions and sometimes the changes you make won't work out the way you want.

 

Hence you got to do A/B testing because you may have one variation with 100 visitors. And if you get 22 conversions and you have another version with 100 visitors but it gets 52 conversions most likely you're going to make more money from the one that had 52 conversions and A/B testing will tell you that. And it allows you to change things like your call-to-action buttons, it'll allow you to change the colours, your messaging, your headlines and a lot of different things so that way you can optimize your conversion rate.

 

Make sure you use essentials with the tools that I've mentioned like Heatmaps, Confetti, User Recording, A/B testing and Scrollmap within Crazy Egg and in Hello Bar, you can use Exit Intent down bars, content upgrades social bumps, push notifications, they all work well. I also recommend that you use a tool called 'Subscribers', in which you can do a welcome drip sequence, it's a great way to convert your visitors more into customers.

 

A/B testing allows you to easily change the headline, button, image or any other element of a website to create multiple variations of your website.

 

• Tweak variations in opt-ins and landing pages.

• Track sign-ups, clicks, or any other conversion goal.

• Know the statistical validity of the results.

 

CONVERTING TRAFFIC TO LEADS:

 

And when you're going through this process, you're probably wondering, hmm, what can I change to generate more sales? Well:

 

• Remove the friction during the sales funnel.

 

• At every stage, the visitor is being forced to make choices in a large number of options. So just make it simple for them.

 

• To prevent indecision -- you can offer fewer options, people tend to make decisions faster if there are only three or fewer options to choose from.

 

MAKE YOUR CUSTOMERS LOVE YOU:

 

One strategy that very few people talked about when it comes to CRO is making your customers love you. I want you to think about Apple. You may not like Apple. And if that's the case pick Nike or pick another loyal brand. But most of the people out there love Apple, they love Nike. And these companies have created such great products, they care about their customers so much. It has helped improve their conversions just like Amazon. Amazon gets more conversions because a lot of people love their experiences and love using them.

 

• One way to increase your conversion rate is to be the first company your customers think of when they want to order a similar product again.

 

• Increasing your conversation rate isn't just about tweaking your website.

 

• You need to analyse of company's whole relationship with your visitors and customers.

 

TESTING AND ITERATING:

 

But you aren't as big as Nike, Amazon, Apple. So you got to keep Testing and Iterating because this will tell you what's working and what's not. And don't expect all your tests to work out and that's fine but some of them will work out especially if you're using quantitative and qualitative data.

 

• This approach applies to making minor, incremental changes.

 

• And updates to a product based on insights from previous improvements.

 

• Measuring them against predefined base metrics.

 

WHAT TO TEST IN AN A/B TEST?

 

• The headline.

• Your call-to-action.

• Any graphic you see in direct correlation to your sales efforts.

• The sales copy or product descriptions.

 

COPY TEARDOWNS:

 

Keep in mind a Teardown essentially is just the same thing as our audit. Typically when conversion experts go out there and they'll tell you all you need to make this exact copy tweak. No one knows the exact answer and no one knows exactly what works and that's why you need to do A/B testing and it's super important.

 

• An audit is the same thing as a Teardown. The teardown instead is related to copywriting.

 

• Most of the time experts commit an error with teardowns though. They tell you what will work for your copy.

 

• Usually, this is not accurate as you need to follow a data-driven process to come up with the right copy for a given brand.

 

• That means you should be working with that particular brand to gather useful info, surveying visitors and customers and interviewing the latter.

 

CONVERSION HACKS:

 

• Show testimonials, customer reviews and social proof.

• Showcase your credibility.

• Constant communication.

• Make the processes in your website simple.

 

CONVERSION HACKS -- DYNAMIC RECOMMENDATIONS:

 

• Use dynamic recommendations - 35% of all Amazon's revenue come from dynamic recommendations.

 

• By e-mail & on-site (there are tons of apps in the marketing).

 

CONVERSION HACKS -- MOBILE ACCESSIBILITY:

 

There are also mobile devices that are yet to take into account, learn how mobile users engage with you, it's going to be quite a bit different than non-mobile users especially because the screen sizes are much smaller and if people leave your site quickly and they can't easily navigate from mobile devices, you're not going to do well.

 

• Learn about your mobile visitors and how they are different from your desktop visitors.

 

• Make your content easier to share.

 

• People leave a site if they can't eating navigate it on mobile.

 

CONVERSION HACKS -- PAGE SPEED:

 

And Page Speed is also super important for you when it comes to mobile devices even desktop as well but mobile is even more important and you want to optimize the load speed of your website. Users tend to leave if your site just loads too slowly, you can go to ubersuggest.com, put in your URL and go to the site audit report and you can see your site speed and how you can improve there.

 

• Optimisation loading speed of your site.

• Users tend to leave if the site responds slowly.

• You can do run a site audit on Ubersuggest to check site speed.

 

CONVERSION HACK -- LOYALTY PERKS:

 

I also recommend checking out loyalty perks. This builds brand loyalty and it keeps causing those repeat customers. Rewards are designed to grow as your customers spend more money. So in other words, they spend more, reward them more. So it keeps encouraging them and try to personalize the perks towards that specific audience.

 

• Built brand loyalty.

• Rewards designed to grow as customers spend more.

• Personalized perks to target a specific group of people.

 

E-COMMERCE STRATEGIES:

 

E-RETAIL SALES WORLDWIDE:

 

E-commerce sales have been booming last year alone $4.2 trillion worldwide, which is a ton of money and is expected to grow to over $6.54 trillion by 2023. Online shopping is one of the world's most popular activities, especially during periods like Black Friday or Cyber Monday.

 

E-COMMERCE COMPANIES BASED ON GMV:

 

If you look at a lot of the large e-commerce companies based on GMV, Alibaba's massive, same with Amazon, JD, eBay, Shopify, and the list just keeps adding up and these companies are all going to grow at a very rapid pace as more people start buying online.

 

• Gross Merchandise is the total value of merchandise sold over a period of time through C2C.

 

• GMV can be increased in multiple different ways.

 

• These companies do an excellent job of optimising through CRO.

 

LESSONS FROM TOP 25 RETAILERS:

 

When you think about the world's largest retailers, there's a lot of retailers and these are not all fully online some of them are offline slash online. So they do a little bit of both like Amazon, Walmart, Costco. Amazon's mainly online these days, but they do own some offline stuff like whole foods. And even companies like Home Depot in the United States they're quite large as well. There's a lot to learn from these retailers, so let's go over the most valuable lessons.

 

Because with CRO you're not going to get the results you want always on the first time or even second or third or fourth, but if you keep going eventually things will work out for you so that way you can maximize yourselves.

 

• Protect your success and learn from every mistake.

• Learn everything you can about your business.

• You need to be super competitive.

• Focus on retaining customers and providing the best experience.

• Be persistent and put safety first.

• Innovation is the key.

• Prepare for failure.

• Never stop experimenting and be willing to invent.

• Obsess about customers and understand the customer.

• Identify and remove risk.

• Don't think short-term, be willing to take short term losses for long-term gains.

• The right team.

• Be stubborn but also flexible.

• Diversify your offerings.

• Speed and agility are a must.

 

LEVERAGING TRENDS:

 

You should also consider that trends are going to constantly change and they're changing at a quicker pace, but you need to be leveraging them. Just start leveraging them and if they work great, use them more. If they don't, then at least you have your account and if it ever picks back up, then you can start leveraging it in the future. Optimize your content, your product pages, your emails. Think of everything as a whole funnel.

 

• Go online and claim your business in Google.

• Use different social media platforms.

• Optimize your content and product pages.

• Use e-mail marketing.

• Decide on gated or ungated content.

• Use online advertisements.

• Communicate and be a part of the digital community.

 

RETARGETING:

 

And once you get the traffic, one of the highest converting channels that you'll find, is Re-targeting. And when you retarget to those people, you'll find that because they're already warm to you they're much more likely to convert. You can do this on Facebook, YouTube, Google, you can do this through banners all over the world. It works extremely well and Facebook and Google are the two main channels to use for retargeting.

 

• Retargeting is a technique intended to help Enterprises meet the 98% of consumers who do not automatically convert.

 

• Retargeting is a type of ad that will help you keep your brand in front of bounced traffic after they leave your website.

 

• In the first visit, for most pages, only 2% of online traffic converts.

 

• Notice your customers spend a large amount of time on a single product? Retarget!

 

MESSENGER AI AND CONVERSION:

 

If you've used messenger bots, it works extremely well. Messenger bots are easy to set up, they have a wizard that walks you through it, set it up. The benefit though, compared to emails is their open rates. Messenger has 80% plus open rates, while emails are roughly at 20%. Real people are less likely to continually open your messages though if you can't get them to reply. So just make sure your messages are much more personalized and that's what these bots are for.

 

• Messenger AI or Messenger bot is a link to your Facebook page that when someone clicks your ads they get sent a message.

• Afterwards they automatically opt-in to your list.

• You can only send one message every 24 hours if they don't respond.

• You are only allowed to send them one or more messages if they are responding to you or else you will risk getting blocked.

• Ways you can use messenger bots.

• Lead capture.

• Giveaways.

• Answer questions about the business.

• Automate sales process.

• Qualifying leads/quiz.

• Webinar sign up.

• Reminder for the event.

• Sent out new offers to claim regularly.

• Build automatic rapport.

 

ANALYSIS FRAMEWORK:

 

One other thing to keep in mind is, hey what is your competition doing? So you're using Messenger Bots. You're going out there. You're optimizing your conversion. You're doing retargeting. You're doing all these things that we've talked about, but what are your competitors doing? And that's something that I want you to keep in mind too when you're going through this whole process. The Analysis Framework is a tool used by enterprises and developers to research the demand for their goods or services.

 

PORTER FIVE FORCES MODEL:

 

• Existing competitive rivalry between suppliers.

• Threat of new market entrants.

• Bargaining power of buyers.

• Bargaining power of suppliers.

• Threat of substitute products (including technology change).

 

PEST ANALYSIS:

 

There's also the PEST Analysis, also known as Broad Factors. It analyzes the external environment of an organization, often the most important analysis.

 

SWOT ANALYSIS:

 

Then the most common one that a lot of people have heard of is the SWOT Analysis. It analyzes things like strengths, weaknesses, opportunities and threats. Hence it stands for SWOT. SWOT analysis is the strategic mapping tool under market analysis Frameworks that assesses an organisation and the industry in which it operates.

 

CRO TESTS YOU NEED TO BE RUNNING - MULTIVARIATE TESTING:

 

When you take all the data that you're getting from this analysis, whether it's the PEST method, or a SWOT analysis, or the Porter Five, it'll give you tests ideas. And when you're running tests, you can end up running A/B tests or even multivariate tests. And a multivariate test is when you're taking many different elements on a page, and combining them and seeing what the best combination is, versus just doing a straight-up A/B test.

 

• This is a CRO test hypothesis in which multiple variables are modified.

• Multivariate tests determine the best combination out of the ones used.

• It reveals more information about how these variables interact with one another.

 

CRO TESTS YOU NEED TO BE RUNNING - A/B TESTING:

 

And with CRO unless you're getting a lot of traffic, you're probably going to end up doing A/B testing versus a multivariate test, and you can use Crazy Egg to figure out which variation is winning, so you don't even need to use a calculator.

 

• Compares two different versions of a page or app against each other to determine which one performs best.

 

• Great way to solve visitor pain points, increases conversions and leads and decreases bounce rates.

 

HOW COMPANIES LIKE AMAZON, NEW EGG, SHOPIFY & BIG COMMERCE ARE USING CRO TO MAXIMIZE REVENUE?

 

• Optimise site speed.

• Improve website navigation.

• Optimising your calls-to-action.

• Optimising your headlines.

• Add social proof to generate more sales.

• Reduce cart abandonment rates.

• Optimise the checkout process.

• Provide payment and credit options.

 

Link to Conversion Rate Optimization (CRO) - 1 https://www.perusal.in/blogs/conversion-rate-optimization-(cro)---1/50