Posted by Steve Parker, Jr. (@sparkerjr)
When it comes to data-driven marketing, consumer engagement and conversion rates are of primary concern. According to the 2012 Adobe Digital Marketing Optimization Survey, there are a significant number of untapped opportunities marketers are missing out on. These investment potentials are centered around four of our favorite words: data-driven marketing optimization. More specifically, the survey focuses on conversion optimization—“the process of monitoring conversion events on your website or mobile site from landing page through checkout to identify key areas that you can monetize immediately and those areas you need to enhance.” The survey received feedback from over 1,700 digital marketing pros around the world, affirming its relevance in today’s market.
Adobe points out that marketers are spending $92 to acquire website traffic per every $1 to optimize it. This relationship is skewed and needs to be balanced in order to produce higher returns on investment. Luckily for you, not many companies are aware of this or know how to take the necessary steps to evolve their digital marketing strategy and meet customers’ demands. Since the 2009 Adobe survey, a 1% increase of funds dedicated to on-site optimization was observed. Meanwhile, it is a fact that companies embracing conversion optimization are not only establishing more customer loyalty, but are also attaining more conversions.
It is clear those in digital marketing are investing most of their time and money in driving visitors to their websites, but very little on helping the visitors find the information they are looking for once they’re on the site. This is not an effective way to gain conversions, the number one goal of any digital marketing strategy. Enhance your customer’s experience throughout the buying process. By focusing simply on what you THINK works for conversions, you are doing no service to your customers or to your bottom line. Instead, use data-driven marketing automation to optimize the strategies that have been PROVEN to work for your business.
When creating your digital marketing budget this year, keep these stats in mind:
• 34% of site visitors use site search as the first activity on a site, and these numbers are even higher for mobile sites
• 68% of web users rely on search as their primary form of navigation
• 43% of site search users give up after the first try
Don’t be scared of optimization! Embrace it. It is an untapped data-driven marketing opportunity with the ability to impact top- and bottom-line revenues.
Image Source: Adobe 2012 Digital Marketing Optimization Survey