Make conversion optimization your priority
More and more organisations are working on conversion optimization. With a structured and data-driven process, they work on customer-oriented optimisations in the web store. As a result, they achieve better results. However, the same organisations notice that their conversion optimization process slows down regularly or even grinds to a standstill, because they end up spending resources on other large projects. As a result, optimization opportunities remain unused and these organisations miss out on a lot of revenue. The Revenue Optimization expert group – part of research platform ShoppingTomorrow – investigated how to improve this.
Research by the expert group proves that a lack of resources in both large and small companies can make the conversion optimization process slow down significantly. In most cases, resources are developers' time. This is valuable time, which is always scarce and an obvious bottleneck if there are more projects than can be realized in the available time. In addition to development resources, resources in the area of (UX) design or analytics bottlenecks can also be at the root of stagnation.
Why are resources not actually spent on conversion optimization, when the expert group has shown it essentially contributes to achieving more growth and results? There are roughly two reasons for this: a non-data-driven culture with insufficient support for conversion optimization and a defective process.
Problems with resources and the consequences for the conversion optimization process seem tough to deal with, but the expert group has found various (sub) solutions that effectively tackle the causes of stagnation:
Calculate the value
Whether it concerns increased sales, more profit or cost savings, that expensive development time must ultimately have the highest possible return on investment (ROI). The value for the organisation should therefore be leading when allocating development resources.
Share insights and results
You do not realize more support for conversion optimization overnight. What matters, is a cultural change which takes time and perseverance. That is why it is essential that you invest in the visibility of conversion optimization within your organisation. You can do this by actively sharing results and customer insights.
Improve your process
To utilize the full potential of conversion optimization, a structured process is important. Is this process stagnating in your organisation? First identify where the bottlenecks in the conversion optimization process are. Use your own system or a project management tool for this.
People often think that you have to be innovative to stay ahead of the competition. That is not a bad thought in itself, but many traditional organisations have a wrong view of innovation. The idea is that major innovations, such as a redesign or disruptive new business concept, are the only path to success. That is the type of innovation that involves a lot of development time, high costs and a lot of risk. Whereas small and data-driven optimizations can be just as important for the success of your organisation. The speed of these optimizations will go a long way to determine your place in the competition. However, we have observed that in many organisations the company culture is still not sufficiently consistent with this.
This is why you must be committed within your organisation, to both bottom-up and top-down influencing to stimulate data-driven working methods, to create support for conversion optimization and to improve your process. This is how you can prevent the slowing down of your conversion optimization process and you achieve more results with your web store. Do you want to know more about how you can optimize the conversion of your website? Download the bluepaper by the Revenue Optimization expert group.The expert group was led by ISM eCompany.