Learn all about digital marketing, we have built this glossary to help you understand everything to thrive in online marketing and promoting your website or business.
What is Conversion Marketing?
Conversion marketing refers to the tactics used by businesses to inspire a customer or user to take a desired action. It's seen as the end game in the sales and marketing funnel, where visitors and leads are 'converted' into customers, making a purchase or committing to a contractual agreement. This could be anything from making a sale, to signing up for a newsletter, or downloading a free e-book.
The goal of conversion marketing is to increase the percentage of website visitors who become customers, also known as 'conversion rate'. Techniques applied in conversion marketing range from improving website design and user experience, to refining marketing messages and value propositions.
Conversion marketing isn't just for online businesses. Brick-and-mortar retailers, service businesses, non-profit organizations, and many other types of entities can benefit from properly executed conversion marketing.
Conversion Marketing's Role in Digital Marketing
In the realm of digital marketing, conversion marketing plays a pivotal role. It is closely intertwined with multiple facets of digital strategies, integrating with SEO, content marketing, email marketing, social media marketing, and more. The primary focus is to drive quality traffic and then convert that traffic into some form of valuable action.
Conversion actions are not always about making a direct sale. Actions could be as subtle as obtaining a visitor's email address, making it easier to carry out future marketing activities. The bottom line is, every successful digital marketing plan incorporates conversion marketing techniques to maximize results.
It's also essential to track and analyze conversion rate metrics. Without these data, it's impossible to measure the effectiveness of your conversion marketing strategies and make necessary adjustments to enhance performance and ROI.
Conversion Marketing Examples
One of the most common examples of conversion marketing is email subscriptions. Companies often provide free content like e-books, or offer a discount, in exchange for visitors providing their email addresses. Once the business has the email, they can then send further marketing materials, thus working towards converting these leads into customers.
Another conversion marketing example is a 'Call to Action' button on a webpage. These buttons - such as 'Buy Now', 'Download', 'Sign Up', 'Learn More', 'Get Started', - prompt a website visitor to take an immediate desired action.
A/B testing is a strategy used in conversion marketing to identify changes that increase chances of conversion. This involves making changes to a webpage or email, and testing to see which version achieves the highest conversion rate.