Close your eyes. Imagine you have developed an amazing brand. I’m talking about a real buttoned-up brand, one that sports a great name and identity. A brand that has dialed in its messaging and knows where it’s positioned in your market.
Now, let’s imagine you’ve built a kick-ass eCommerce website, one that is super easy to navigate and blindingly fast when viewed on a mobile device. Your CX team has optimized the navigation to quickly direct your visitors where they want to go with a simple finger tap.
Also imagine your team of talented copywriters has crafted content that speaks to your audience and is populated with stunning photos of people using your product or service that your visitors can immediately identify with.
While we are at it, let’s imagine your skilled web team has maximized SEO throughout the website, leveraging blogs, backlinks, and keywords, driving lots of organic traffic.
What kind of brand would you be without a brilliant social media team rocking the social sphere with beautiful imagery, videos, and content, promoting your brand and products with clever offers that drive lots of traffic to your website?
Let’s also assume that your adept CRM team has segmented your customers and integrated CRM marketing with this incredible eCommerce site, firing off automated emails for abandoned carts and browsers. Monthly promotional emails segmented by product and audience keep your brand top of mind, driving higher engagement and returning traffic to your website.
In this perfect world that we’ve painted for you, we might as well imagine your amazing marketing team has created a brilliant omnichannel strategy of paid media leveraging programmatic, paid search, and paid social campaigns.
Whew, that was a lot of work! Lot’s moving parts for sure. But winning this year’s highly coveted Webby Award is a testimonial to you and your hard-working team.
Keeping it Real for a Moment
Assuming you’ve built the equivalent of that Webby Award-winning eCommerce site and driving tens of thousands of new visitors to your website each month. The harsh reality is that nasty “C” word. No—not that one; I’m talking about conversion.
A recent survey by Shopify found the average conversion rate is 1.4%. The report says that if your conversion is below 0.5%, you likely have lots of room for improvement. More importantly, they say if your conversion rate is above 3.3%, your site would be in the top 20% of all Shopify stores!
Do you know your conversion rate? It’s simple to calculate:
eCommerce Conversion Rate = Orders / Visitors To Your Website
When someone visits your website, most analytics tools refer to this as a “session” and identify the person (or, more accurately, their device) as a “user.” If you were to visit a website on a Saturday and then return on Monday, you should be considered one user who had two sessions.
eCommerce conversion rates are calculated using the number of orders and sessions in a period, not the number of users. While there is debate about the conversion rate formula, some marketers have begun advocating for counting users instead of sessions—but industry best practice continues to be sessions.
Calculate Your Conversion Rate
Let’s calculate your website’s conversion rate by using the following formula:
Conversion Rate = (Total Conversions / Total Visitors) x 100
For example, if you had 1,000 visitors on your website in a month, and 20 of them made a purchase, your conversion rate would be (20/1000) x 100 = 2%.
How Do You Increase Conversion Rates?
So, let’s assume you have an average conversion rate. Listed below are four easy tips that can increase your conversion rates:
Implement an Online Visitor Identification Platform
One sure way to increase sales and conversion rates is to implement a platform such as SAVVY DATA. Now that you have addressed some of the issues we identified above to help improve online sales and have your website ready for prime time, now would be the time to explore our visitor identification platform.
Let’s assume your conversion rate is 2.0%—scratch that, let’s assume your conversion rate is 3.0% and life is good. So, each month you’re driving 10,000 online visitors and 300 sales. If 300 visitors have bought something on your site, wouldn’t you like to know who the 9,700 visitors are who didn’t? Imagine having the ability to identify upwards of 70% of them. In an age of a cookie-less world, capturing this middle-of-the-sales funnel, first-party data is critical to giving your business a competitive edge.
Imagine having automated emails and SMS messages or even launching a direct mail campaign to these prospects who have visited your website with personalized offers in real-time, keeping your brand top of mind.
So, Why SAVVY DATA?
SAVVY DATA has one of the most robust consumer databases in the industry. It comprises 245 million American and 25 million Canadian adults. Our robust data is unlike any other consumer database on the market. Depending upon the person, we have information that provides unprecedented consumer insights, such as:
How Does SAVVY DATA Work?
Our 4 Terabytes of data include IP Addresses. IP address stands for Internet protocol address; it is an identifying number associated with a specific computer, cell phone, tablet, or computer network. When a device is connected to the Internet, the IP Address allows it to send and receive information.
By leveraging SAVVY DATA’s online visitor identification technology, we’re able to easily identify and triple validate who is visiting your website. Our solution even allows you to upload your existing CRM data to gain valuable insight on your current clients!
Once SAVVY DATA is integrated with Klaviyo, an online CRM platform, we can create a series of A/B- tested automated emails segmented by audience to communicate with them via email or SMS. SAVVY DATA Clients implementing these best practices are experiencing a 30% increase in sales!
Interested in Learning More?
We understand the challenges that brands are facing in our new cookie-less world. Let us demonstrate the real power of unlocking your first-party data by utilizing SAVVY DATA’s online visitor identification technology. If you are interested in driving more sales and giving your businesses a real competitive advantage, let’s chat.
