A bigger slice of the personalized pie: Why a 3% conversion rate isn’t enough

Tis the season for pie! And by that we actually mean a pie chart or a bar graph – not pumpkin pie. With the holiday season in full swing, marketers are focused on driving results and improving campaign numbers. Yet most businesses are still stuck at a three percent conversion rate. That means 97 percent of website visitors are leaving and unimpressed with your website experience.

There’s a misunderstanding when it comes to this statistic, however. Many marketers see it as three percent across the board, when really, it’s a compilation of all consumers and audience groups. So, millennial men may convert at 1 percent and millennial women at 2.5 percent while parents convert at 5 percent. And every time you make ground with one, you seem to lose it with another – which is why you’re constantly scrambling for improvement but somehow still end up at the same unacceptable average. The graphs below illustrate this issue:

In a traditional marketing model, if you figure out the solution to raise one of those audience groups up with a higher conversion rate, another will go down. It’s like a never-ending game of digital whack-a-mole. You can add trendy images and speak directly to your single millennial audience, but then your average will remain the same because you’re losing everyone else. You can’t target your website marketing specifically to one group without alienating the rest, right?

Wrong! Website personalization empowers you to tailor your customer journey to different audience groups based on real-time data. You can segment your website visitors based on whatever data you choose – from location to online campaigns to personal demographics – and serve each of them a unique experience. And by providing them with personalized content, imagery, CTAs, recommendations and more, you’re able to raise each conversion rate individually – leading to an increased average conversion rate all around!

Take Taser, for example. This self-defense brand has very diverse audiences who use their products for extremely different reasons. They wanted to be able to address the motivations and needs of each audience group without alienating the rest. With Persosa, they were able to create unique website experiences for parents of young children, parents of college-aged kids, runners and gun owners. This resulted in successful audience expansion, increased website engagement and a 100 percent incremental revenue from new audiences.

Website personalization solves the conversion rate conundrum. It gives marketers the power to speak directly to different audiences at the same time – offering more value by way of content and experience. This increases your consumer engagement and lifts your website conversion rate.

If you’re ready for a bigger slice of the conversion rate pie, contact Persosa for more information today.