Although testing your marketing strategies is important to optimize your conversion ratios, you cannot just stretch the testing phase for months, or test each and every product before you launch it on your web storefront. You only need to test those things that do matter, in ways that will make a difference. In this article we discuss eight such strategies:
First test the product you want to sell to a customer on your home page. Observe the merchandise that tends to drive conversion. Try to start with the ‘starters’. Pick up those items that frequently appear in the shopping cart or are present in the first line of a customer order. Now try testing these items against the items that your team may like to feature.
“20% off” against “10% off plus free shipping” sounds easy. It doesn’t require any assistance from other departments but the way it is presented to a customer should be tested.
While testing merchandising strategies, it should be noted if the product being presented is in line with customer interests. Some people may buy cosmetics while others may buy men’s ties. That doesn’t mean that you have to offer each and everything. Make use of analytics and market the most popular products to attract customers.
Testing imagery is easy, but testing product density could mean that you offer the customer more items on the homepage. In this way, the customer would be provided more opportunities to buy goods and ultimately give your brand more prospects to convert.
Try testing something that your Creative Team may have made against something that they didn’t create. You may be asked by your Creative Team to test three different landing pages or designs they may have created. Try doing it as it’s a win-win situation.
If they were creative enough to prove themselves as experts, then you would know what role they play in the whole scenario.
In most cases, measuring the performance of different strategies via the conversion rate is not always appropriate. According to an observation at Nordstrom, loyal customers used to purchase once a month and they used to visit the website thrice a month. That means in all the thirty-six visits, they purchased only twelve times. While if a strategy was implemented, the customer would have purchased eleven times out of the twenty-four times he visited. This way, the conversion rate improved but damaged the brand by nearly ten percent.
Sometimes different strategies are applied to increase the company’s sales but it has a bad effect on the profit. We should instead focus our tests towards profits rather than conversion rates.
Strategies should be re-tested regardless of their statistical significance. If proved twice that a test gives the desired results, then the method could be significant in the long run.