is a conversion optimization system? //
Digital marketers have focused over the past several years on creating a customer experience that is different from their competitors. Conversion optimization platforms (COPs), which allow marketers to test and personalize websites and mobile apps to ensure that each user has a positive experience, address this problem.
Sometimes, COPs are also known as conversion rate optimization tools (CRO), personalization engines (PEOs), or experience optimization platforms. Typically, conversion optimization platform functionality includes:
- Multivariate and A/B testing.
- Tools to help you manage your testing programs and roll out successful experiments.
- Personalization is often enhanced by AI and machine learning.
- Server-side experimentation.
Conversion optimization platforms are essential
According to the latest “State of the Connected Customer”, 79% of consumers, and 85% of business buyers believe that COP implementation is a good idea at a time when the experience they have with a business is just as important as the products or service it offers.
Industry leaders define what makes a great customer experience. When businesses fail to provide an Amazon-like checkout experience, or an Instacart like delivery experience, customers are disappointed.
Conversion optimization platforms have many benefits
Many conversion events drive revenue. Conversion events are often optimized by COPs, making it easy to see if a platform is earning its money. Conversions have many benefits beyond driving revenue.
Businesses can also benefit from COPs by maximising the return on investment in traffic to their websites and mobile apps. Only a few companies claim to be proficient in conversion optimization. According to Econsultancy’s 2020 Decibel and Econsultancy reports, only one in ten companies believe their method is fully automated. This allows them to deliver personalized experiences that have measurable commercial benefits.
Agile development meets agile marketing
Many marketers are adopting agile methods to optimize conversions. Instead of a “project” or a “campaign” mindset where there are discrete tasks that must be completed, agile marketing uses the “sprints” and “backlogs mentality that developers love. Because COPs are intended for continuous workflow, they mesh well with this. This workflow involves iterative experimentation, reflection on the results, and then taking actions based on the lessons learned.
This approach encourages teams to adopt similar work methods, as developers often take part in the experimentation and rollout, along with marketers.
Platform for conversion optimization
The functionality of conversion optimization platforms varies depending on the vendor’s approach to optimization and the use of artificial intelligence.
Facilitate:
- Designing and configuring experiments for mobile apps and websites.
- Analyzing and evaluating the results from A/B and multivariate testing.
- Management of testing programs and deployment of experiments that prove to be successful.
- You can create audience segments using a variety data types.
- Real-time personalization of customer interactions
- Server-side experiments.
Testing and insights
COPs are responsible for testing changes to apps and websites that will improve customer experience and converts/results. This could include traditional A/B or multivariate testing as well as artificial intelligence-derived conclusions. The interfaces are usually browser-based and include graphic drag-and drop editors. There are many options available for users to create new features, modify code, or toggle between modes.
Different platforms have different capabilities in suggesting experiments that are most likely to make a difference. Most platforms have the ability to manage and adjust traffic volumes to test different variations. Some platforms offer tools that provide insights into user actions on websites such as heatmaps or the ability to recruit users for formal testing sessions.
Download our new report “Enterprise Conversion Optimization Platforms – A Marketer’s Handbook” now for free.
What’s a conversion optimization platform? was first published on MarTech.