Improving your KPI conversion requires diverse skills across copywriting, digital psychology, and web analytics.
This guide explores the analytics side.
Today, you’ll learn the following:
Conversion rate optimization (CRO) is increasing the percentage of users to complete a desired action.
This can look like this:
CRO is a systematic approach scattered across multiple disciplines.
Your CRO projects will involve a myriad of conversion KPIs.
Here’s how it might look for a lead generation ad campaign on LinkedIn:
Conversion KPI: Attract X new leads monthly
Conversions is an important KPI that monitors your marketing efforts' return on investment (ROI) and ensures that you’re not overspending on customer acquisition.
Conversion KPIs are crucial because they evaluate your overall marketing performance.
These key performance indicators tell you if your marketing campaigns resonate with your target audience. When you measure them alongside other data, you can identify your biggest conversion road blockers at the most granular level.
How do you improve your overall digital marketing strategy? Use the metrics below to diagnose your website traffic and campaign performance.
Your website is a digital welcome mat. Start measuring these metrics to understand user behavior, attract returning visitors, and increase engagement.
Unique visitors track the number of people visiting a page (or multiple pages) on a website in a period.
Click-through rate is the percentage of clicks received from all users who viewed an ad or page.
Traffic sources track the mediums that drive visitors to your website (e.g., referral, paid search, email traffic).
Average time on website calculates the average time users spend on your site. The longer a user spends on a website, the more engaged they are.
Bounce rate is the percentage of visitors leaving a web page (or clicking the back button) taking no action.
It’s measured against the page’s total visits and usually tracked to gauge user experience (i.e., speed of website, whether SEO blog posts match searcher intent).
Websites and marketing channels go hand in hand. Note the following metrics that track your marketing campaign from beginning to end.
Return on ad spend (ROAS) is the amount of revenue a company earns for every dollar spent on advertising.
Return on investment (ROI) is a company's returns from all marketing activities (e.g., hiring agencies, spending on ads).
Conversions is the number of users who completed a desired action among all visitors in a specific time frame.
Cost per acquisition (CPA) tracks the total cost to gain a new customer. This is the metric to measure when you want to ensure you’re not attracting new customers at the expense of profitability.
Cost per thousand impressions (CPM), or cost per mile, is the total cost of 1,000 impressions on a web page.
Customer lifetime value (CLTV) is the total value of a customer throughout their relationship with your company.
The conversion rate is a critical metric influencing customer acquisition cost and revenue growth. Apply these three powerful tips to turn the tide against low conversions.
Great copywriting is like a top-performing salesperson.
The only difference?
Instead of pitching to individual customers, you’re selling to everyone at once. That’s potentially hundreds and thousands of money on the table.
Ensure that your copy reflects customers’ struggles and desires before positioning your product as the best solution. Research to capture voice of customer (VoC) data and mirror back their language to convey that you understand their needs.
What do all-powerful calls to action have in common?
They include power words that elicit an emotional response.
The next time you want to motivate customers to take instant action, optimize your CTAs with power words like free, grow, and discover.
And demonstrate the value of your product before making a big ask.
For example, a productivity software company looking to increase the number of subscribers in its email list might create a copy and CTA like this:
“Join [newsletter] to unlock world-class insights to work less and earn more every Monday.”
And while you’re at it, add a subscriber’s testimonial to drive conversions.
CRO involves active experimentation.
Audit and analyze your campaigns and apply the tips above to optimize your conversion rate KPI. Conduct A/B tests to see which variations outperform the rest.
Consider tracking these multiple campaign performances with an automated reporting tool like DashThis.
Long gone are the days of manually hopping from one platform to another and copy-pasting data rows into spreadsheets.
With a sleek reporting tool like DashThis, you can turn all your marketing data into one customizable dashboard.
Here’s how it works:
DashThis will automatically gather the conversion KPIs and metrics you selected and turn them into beautiful graphs.
Here’s how it might look when you create a social media report.
Drag and drop the metrics as you desire to form a cohesive look.
Consider following these tips to take your marketing report to the next level:
Share the report via email or a URL link.
Better yet, distribute your report automatically (via email dispatches) to give clients real-time access to their dashboards.
Grab your free 15-day trial here to create reports in the blink of an eye.
Customers engage with brands at different touch points, which makes it increasingly difficult to keep track of the entire customer journey.
Use the digital marketing report below to measure your CRO efforts across multiple channels.
With a visual layout like this, you can easily identify your best-performing campaigns, channels, and content.
DashThis gathers your entire marketing KPIs into a single report.
Increasing the total number of leads in your B2B sales funnel via Facebook and LinkedIn?
Retargeting abandoned shoppers in a win-back email marketing campaign and Google Ads?
Tracking SEO performance on Ahrefs, Google Search Console, Google Analytics, and Bing?
All you have to do is connect these channels, pick a template (or start from scratch), and pull your metrics with the click of a button.
CRO is a strategic approach requiring diverse skills across complex disciplines like copywriting, web analytics, and digital psychology.
Apply these tried-and-tested tips to drive more valuable actions from the same users without exceeding your marketing budget.
Better yet, complement your analysis with a reporting tool like DashThis.
By automating your data collection, you can quickly track all your A/B testing campaigns and analyze what’s working simultaneously.
DashThis grabs your entire marketing data into one beautiful dashboard automatically. Pricing starts at $33/month when billed yearly. Grab your free 15-day trial here to automate your reporting and gain back hours of your time today.
Start reporting on your conversion rate and other essential metrics.
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