More choice equals freedom, right?
Well, yes, but there’s a good body of evidence that the more choices presented to us, the less happy we are with the one we make.
What does that mean for conversions? Or retention? Or revenue?
In an iconic scene from Glengarry Glen Ross (1992), Alec Baldwin lectures a group of salesmen about the correct way of doing business.
In his motivational (read: foul-mouthed) speech, he highlights a very important strategy that still rings true today—especially in the world of conversion rate optimization:
Traffic attribution identifies which sources drive visitors to a web property. And it’s impossible to credit a conversion to the correct source without first knowing how a visitor got to a website.
In other words, the foundation of conversion attribution is traffic attribution. Simple as it may sound, attributing a session to its traffic source can be tricky, even impossible.
As the marketing industry developed, researchers dove deeper into buying behavior and buyers’ minds. One early researcher was Edward Bernays—Sigmund Freud’s nephew—who coined the term “public relations.”
Bernays believed that people could be influenced via crowd psychology and psychoanalysis. His “Torches of Freedom” campaign in the 1920s promoted smoking among women as a symbol of liberation, opening a new market to cigarette companies.
Decades later, in 2002, Dutch marketing professor Ale Smidts coined the term “neuromarketing.” Neuromarketing maps neural activity to consumer behavior to help marketers craft more valuable, science-based campaigns.
For companies that build their analytics on Google products, purchasing Google Analytics 360 is a symbol of maturity.
As a business grows, it inevitably runs up against limitations of analytics tools. For example, while the data aggregation process in Google Analytics seems like a “normal” feature, it might be a hurdle if your business needs to process data at the hit level instead of by sessions or campaigns.
It’s one of many potential business needs that could affect your decision to upgrade to a Google Analytics 360 license. But is it worth the serious investment?
As a business, your email list is one of the most valuable assets you have. The bigger your list and more engaged your subscribers, the more money you can make.
Twitter is always a highly recommended social media channel to promote your brand online. But it’s not easy to build a following. It’s even harder to persuade followers to click through to your site—and convert.
Indeed, historically, Twitter traffic has had one of the lowest conversion rates compared to other social media giants. Yet Twitter can be a reliable source of both clicks and conversions.
Set up the measurement tool. Clean and process the data. Turn it into information. Analyze it. Extract insights.
That’s hard work. But to have value, there’s still another step—the work must also be well communicated. You want data to form a straight line from KPIs to influencing business decisions.
Optimizing the sign-up flow is a never-ending saga for SaaS companies, for whom it’s mission-critical to acquire and activate users as quickly as possible.
Testimonials and word of mouth are the driving force behind 20–50% of all purchasing decisions, and yet only about one-third of businesses actively seek and collect customer reviews on an ongoing basis.
If you’re not investing in testimonials right now, you need to read this.