Justin Christianson (Conversion Fanatics Co-Founder and President) and Josh Chin (Chronos Agency Co-Founder and CEO) struck a conversation about what really matters when it comes to conversion rates. Listen in on their knowledge bombs as you gain further insight into what eCommerce conversion optimization truly is. You can watch the full video of the Conversion Mastermind Session here.
Conversion Optimization and Split Testing (or A/B Testing) are NOT One and the Same
From the get-go, Justin starts the live mastermind session with a clear explanation of the main difference between conversion optimization and split testing (or AB testing).
“We use split testing for proving and disapproving any assumptions we have in our marketing. While conversion optimization is many pieces that go together to really help identify the behaviors of an audience—what do they like or dislike, what are their wants and needs, how are they interacting with the brand.”
— Justin Christianson, Co-founder and President of Conversion Fanatics
In other words, split testing is really more of a systematically phased period of testing to see what works and what doesn’t when it comes to your emails. What’s important here is that you have a clear test framework, such as manipulating only a single element at a time to draw a firm conclusion in your final results. For example, testing static banners against gif banners, text versus HTML emails, and so on and so forth.
Based on the results after the completion of your testing period, all you would have to do is add, remove, or revise your emails. It’s more focused on your email’s performance.
As for eCommerce conversion optimization, your focus is on your customer base. You’re diving into what makes your target audience tick. Then based on your collected data, you can further optimize your conversion strategies to gain higher-quality customers. This is important to tell the interested shoppers from bored browsers.
The Special Discount Tactic Sets You Up for Failure more than Success
Justin pointed out that one of the most common mistakes businesses do is race to create a discount. This is most likely when they’re rushing for quick conversions.
Contrary to popular belief, the special discount tactic would backfire on you as fast as you would get those quick conversions.
According to a test Justin and his team conducted, they ran a test where they brought down the price from $50 to $15. The results: the conversion rate was, as Justin put it, “wiped out.” 2.5% at $50 to the decimal zone at $15. Justin stressed how it’s not really about the price. It’s about how your traffic performs when it arrives at your site. It’s all about the customer journey as they get to know your brand and your products.
This is using both qualitative and quantitative data and it’s helping make a better experience for your audience to do business with you. The better you can engage that audience, help them find what they’re looking for, the better their journey is gonna be—the more money they’re gonna spend money with you, the more chances they’re gonna actually do business with you.”
— Justin Christianson
Conversion Optimization Means Aiming for High-Quality Customers
Focus on getting your customers to know more about your brand and your products. Build their trust and they will end up buying more from you. This is way better than desperately selling through special discounts.
Don’t focus too much on racing to get your conversions immediately. You can give freebies and still do special sales. But if you’re perpetually on sale, you’ll only end up with cheap customers. They won’t stick around after taking your freebies. If you’re gunning for customer lifetime value increase, this is not the way to get there.
Justin’s advice: Try overloading your visitors with value. Rather than highlighting products on sale, just highlight all the products and services you have.
You will attract high-quality visitors who will learn of the true value your brand offers. And when they know your true value, the more willing they will be to buy your products at full price. Highlight the best of your brand rather than the cheap ones.
“True conversion optimization from a split test perspective from A to Z is not going to be ineffective for you—it’s gonna take forever. But qualitative optimization is gonna take you a hundred yards further than where it would have been before.”
Gain more high-quality customers by automating your emails. Email marketing automation is all about increasing your conversion rate efficiently while boosting your overall email ROI at the same time.
It’s important to learn about the different tools and software you can use to send relevant, timed, and triggered emails to your subscribers. When you use these tools right, you can build your customer relationships. Staying in touch with your customers through well-timed, relevant emails.
Remember, it is by nurturing your customers through their customer journey that you’ll see higher-quality conversions for your brand in the long run. Thus, this will lead to a boost in your eCommerce conversion data.
What’s Next for Chronos?
Keep your eyes peeled for another super insightful session coming sometime next week. The CEO of ROI Minds and Google Ads Expert Sandeep Kumar along with Josh Chin get together for yet another online mastermind session but this time, we’re focusing on using Google paid advertising for eCommerce.
They’ll talk about how you can scale your business to the next level using Google Ads. Broaden your reach and gain better quality leads, higher conversions, and more!
Are you figuring out how to increase your conversion rates further with email marketing? Our customer lifetime value (LTV) experts are ready to help you!
Let our team help you boost your conversions with the right email strategies your brand needs. Just fill out our form (it’ll only take you 5 minutes) and schedule a free strategy call with us!
Don’t forget to check out Conversion Fanatics.They can give you proven test ideas for a more data-driven approach to your growth.