The average conversion rate, according to Adobe’s recent Digital Optimization survey, is 2.6 percent. On the other hand, 20 percent of companies report a conversion rate greater than 4.5 percent.
How do they do it? We mean those successful companies that are obviously doing something better to turn potential into reality, of course.
Based on a global survey of 1,000 marketers and supported by Econsultancy, there are several factors at work.
Here’s what those savvy marketers do to optimize digital marketing.
1. They base decisions on testing
Testing works. It’s not shocking that the companies achieving the best conversion rates are using this approach. 70 percent of top performers use testing in various capacities, compared to only 46 percent for the rest of the sample respondents. If a company is not testing, it’s doing too much resting.
2. They allocate resources for optimization
When companies have a culture of testing and optimization, finding the budget for this becomes easier as ROI can be unequivocally proved. The top 20 percent of performers are 54 percent more likely to devote 5 percent or more of their marketing budgets to a range of optimization activities.
3. They practice content targeting
For the top 20 percent, there is a 43 percent greater likelihood that they are taking advantage of content targeting. These companies recognize the opportunity to target and personalize content and are working steadily toward better and better methods for doing that. They are far also more likely to be using automation and data to make content decisions (+83 percent).
4. They collaborate across departments
The top 20 percent of firms are 88 percent more likely to engage other departments for insights, contributions, and expanded testing and analysis. On the whole, the respondents who use an expanded optimization rubric see a lift in conversion from that average of 2.6 percent to 4.3 percent or better.
5. They recognize the growing importance of mobile
Mobile marketing is now fundamental to marketers — in fact, it will soon be the most fundamental channel for advertisers. Smartphones and tablets are the wave of the future, and gearing up to market on these devices is paramount. The 20 percent of respondents with the highest conversion rates get this. Eighty three percent of top performers have a clear understanding of the increasing importance of mobile to their marketing efforts.