In our newest study, we discovered that 52% of shoppers are moving online, possibly forever, but definitely for the upcoming holidays. The holiday season is already upon us, and you might be thinking there’s nothing else you can do that will be implemented in time to make a difference. It might not be a great time to revamp your messaging, but there is always--always--opportunity to improve. The solution is not random guesswork following so-called best practices that might not apply to your industry. Enter CRO. Conversion Rate Optimization is a testing process through which you will gain real data-driven audience insights in real time, and more quickly than ever before.
CRO is budget friendly and fast
CRO lets you test in real time, allowing you to validate your hypothesis with solidified findings before you get to that site redesign you’ve been planning for Q1 next year. CRO is a budget-friendly option, considering the amount of insight and impact that it ultimately has. WordStream research indicates that CRO has an average ROI of 223%. That kind of investment is a no-brainer.
During a time when resources are strapped, CRO can produce immediate yields. One of our clients saw a 29% increase in revenue in just over two weeks-- not data to ignore. However, not every CRO test is going to make it rain hundred dollar bills. Even if you see minimal increases in revenue from your testing, you’ll gain insight. And even insight into what doesn’t work is an irreplaceably powerful thing.
This deserves some further illustration. One of our clients ran a test about the text of their CTA buttons. One variation increased the original text (“Learn more”) to text that described the product would benefit the visitor (“Learn how our widgets will lower your bazooka rates”). On the surface, that seemed like a good idea -- but testing revealed a very different story. That particular variation did much, much worse than the original. It had 20% fewer clicks than what was there in the first place. Now it would be easy to just say, “Well, we’ve learned not to touch anything.” But the wise marketer looks to learn something, and we did. We learned -- and validated with further testing -- that the audience for this particular client had a real aversion to wordiness. They wanted things quick and to-the-point. Based on this one discovery, we were able to make other, positive changes to the site that resulted in overall growth. Thus even a negative test has big value. These kinds of insights will come in handy as you enact your marketing strategies this holiday season.
Match you messaging with your customer’s reality
During times of transition and upheaval, like what we’ve seen in 2020, testing becomes more important. You can no longer assume that what worked in the past will work again. The landscape has changed irreversibly, and new tactics and strategies are required to see the same results. We’ve seen time and time again that the terrain has shifted: the best practices a year ago are probably still OK today, but they might not be best practices. In our crazy, Covid world, only testing gives us solid, data-driven, personalized data about what will work for your brand on your website.
In this particular time, the public’s attitudes and behaviors are changing quite quickly, and therefore testing today, right now, is more important than before.
CRO testing will provide you with concrete data as to what is working in reaching your customers right now. Knowing what your customers want (what will make them feel secure, make them feel confident, make them overcome their general nervous-about-the-state-of-the-world anxiety) will allow you to serve them better, and get the right product in front of them in the right way at the right time.
We know of course that it isn’t just your customers that are feeling a little discomforted by the state of the world today. Many brands are feeling it. We all are. We don’t know exactly what’s going to happen with the pandemic, how long it will last, how it will affect consumer behavior, how it will affect our revenue. In the face of all this ambiguity, testing provides an oasis of solid research. We run the tests, we see what actually works, we implement those changes, and then we do some more testing. It is deliberate, consistent, and trustworthy. In a world with so many unknowns, it’s a comfort to have the solidity of testing to lean on.
One step closer to perfection with every test
We found that only 20% of consumers are in a shopping mood this holiday season, so in order to stand out, your value proposition needs to be nearly perfect. The surest way you’ll get there in such a short time is by testing. CRO will allow you to gain insights into what shoppers need from you. The insights from CRO testing will guide your efforts with real, concrete data. And this holiday season, that’s invaluable.
Don’t underestimate CRO. It is probably one of the most important investments your business could make in this last quarter. You’ll reach the right people, bring in greater revenue, and have valuable insights to base your marketing strategies on in order to ring in the new year with a bang.