Category: Conversion Rates

How YouTube Is Helping Marketers Capitalize on Online Video

COVID-19 has fast-forwarded several prominent consumer behavior trends in the marketing space — a major one centering around online shopping where tech giants are shifting their investment dollars in the hopes of propelling their growth on the other side.

Earlier this spring Pinterest introduced new ways to shop from pins, from pin boards, and directly from search results. More recently, Facebook and Instagram rolled out “Shops,” essentially converting business profiles into online storefronts and tested shopping tags in captions. Separately, Snapchat unveiled an expansion of dynamic ads for e-commerce retailers in June.

Building a stronger e-commerce presence through video ads

Looking ahead, YouTube unveiled several updates to its platform in a push to help marketers capitalize on the growing trends of e-commerce and online video. Primarily, a new ad format called “Direct Response” will enable brands to add browsable product imagery to their videos to make them more actionable and shoppable.

“As businesses begin to reopen, they have an opportunity to use video to drive both online and offline actions on YouTube, where 70 percent of people say they bought a brand as a result of seeing it on our platform,” YouTube’s parent company Google explained in the official announcement.

As a result of using the new format in a test phase ahead of its spring 2020 campaign, Aerie, the underwear company owned by American Eagle, reported sales conversions 9x higher than that garnered by its traditional media stack. The company also reported a 25 percent higher return on ad spend compared to 2019.

To use the ad format, retailers will need to synchronize their Google Merchant Center feed to their video ads, per the announcement. Ultimately, they will also be able to place greater emphasis on certain products through an expanded call-to-action button.

A more cost-effective way to boost conversion rates

Limited marketing budgets and other key resources have put significant strains on marketers these past few months but this hasn’t kept them from seeking more simple, cost-effective ways to drive reach and convert demand. As part of the update, YouTube announced Video Action Campaigns that will automatically distribute video ads “that drive action” to the YouTube home feed, watch pages, and Google video partners, all within a single campaign.

“In the last few months, Mos saw 30 percent more purchases for their service at a third of the cost compared to their previous YouTube benchmarks,” Google stated of the startup that seeks to help students find funds for college to avoid large debts. As a newer company, it was eager to test the campaigns to gauge how quickly it could scale.

Adding transparency around a consumer’s path to purchase

Beyond building an e-commerce presence, YouTube is cognizant of the fact that in the digital age the process for tracing the exact origins of a conversion and keeping tabs on a consumer’s full path to purchase isn’t always clear. To address this, brands will be able to evaluate their efforts on YouTube directly from their Google Ads attribution reports. There are two major benefits of this including having a better understanding of how to allocate ad budgets and what new tools to consider in addition to enhanced transparency around your Google ads campaigns.

Overall, the effort is not only one to create an even playing field around emerging formats like video, but more importantly, to help marketers save valuable time to put against broader strategic initiatives such as aligning creative with the right message for a particular audience.

Join 100,000+ fellow marketers who advance their skills and knowledge by subscribing to our weekly newsletter.

The post How YouTube Is Helping Marketers Capitalize on Online Video appeared first on Social Media Week.

http://socialmediaweek.org/blog/2020/07/how-youtube-is-helping-marketers-capitalize-on-online-video/

Website News – Conversion Rates

New post on Online Marketing Hub

4 Powerful Conversion Rate Influencers
by christopherjanb

Conversion rates are lifeblood statistics for webmasters. If Kyle Rush taught us anything about optimization at the Obama campaign, it’s to test everything like mad scientists.

Whether you are trying to promote readership, sell a product or drive traffic to a particular page, you want to increase the rate at which this behavior occurs. In order to achieve this goal, it is important to consider the factors that influence users’ decisions during the conversion process.

We’re going to look at:

How colors influence purchase rates, meanings, and sets a brand tone
How site speed can help – or hinder – conversion rates
How decision fatigue reduces conversions and why less choices is better for consumers
Why custom reporting is vital to optimizing for conversions, such as capitalizing on an influx of mobile or location-targeted users
The Influence of Color
When it comes to the purchasing decision, color is one of the most influential factors in determining whether or not a customer buys a product. This often, overlooked element of marketing can be very useful or detrimental depending upon whether or not it is taken advantage of.

For instance, 85% of customers cited color as the primary reason they purchased a particular product. One factor that plays into the importance of color involves the subconscious decisions that people make. After ninety seconds, people have already made a subconscious decision about a product and 90% of the time that decision is based on color.

Gender is also an important element to consider because men and women respond differently to different colors. Men enjoy products that are blue, black or sea foam green, and they tend to stay away from purple, brown and orange. Women on the other hand, like purple along with blue and sea foam green, while revealing a similar distaste for brown and orange.

The associations that people make with colors are important to consider when designing a product, website or brick and mortar store.The art and science of color theory embodies everything from meanings across cultures to light sensitivity. The following list shows the general meanings of different colors, specifically in the United States:

Red: lust, negative issues, excitement, love

Example: Target

Yellow: jealousy, competence, happiness

Example: Lipton Ice Tea

Green: good taste, envy

Example: Garnier

Blue: masculine, competence, high quality, corporate

Example: UB Solution

Pink: sophistication, sincerity

Example: Ouou

Violet/Purple: authority, sophistication, power

Example: Kaleidoscope

Brown: ruggedness

Example: Wawa

Black: grief, sophistication, expensive, fear

Example: HBO

White: happiness, sincerity, purity

Example: Apple

In digital environments – websites – colors are often leveraged to motivate users, normally in the form of a subscription, purchase, download, or click-through. The base color for a company logo or brand does not mean call to action buttons need to match or be harmonious in color. In fact, buttons with colors that contrast the main theme actually grab more attention.

The Influence of Site Speed
Website speed is a critical factor for converting customers online. One conversion rate study revealed a strong correlation between faster page load times and increased conversions. Every second that the page load time was reduced yielded a percentage increase in conversions. Conversion rates increased 3% for every second the loading time was reduced from fifteen to seven seconds.

This correlation was not limited to purchase conversions, as page load times proved to be an important factor in influencing donations. A study regarding the 2011 Obama for America campaign revealed that a three second reduction in page load time yielded a 14% increase in donations. This research reflects the importance of improving site speed for both for-profit and non-profit websites.

It’s easy to measure site speed today; just head over to Google’s page speed insights. In the example below, I put my own blog on the chopping block and you’ll see there’s a lot I can do to increase my page speed/reduce loading times:

The Influence of Choices
The number of choices that your landing page offers visitors is another element that impacts conversion rates. A basic summary of the research on this topic suggests an inverse relationship between the number of choices offered and conversion rates. Contrary to popular belief, more choices lead to fewer conversions as visitors are distracted, rather than being led to the point of conversion.

In terms of specific examples, social sharing buttons, webinar registration options, contact fields and landing page fields are all elements that should be limited in order to increase conversions. One study regarding social share buttons indicated that total shares decreased by 29% when two additional buttons were added to QuickSprout’s site. The same idea applied to a study regarding webinar registration, as conversions increased by 16.93% when the number of available sessions was reduced from four to three. This data suggests that the old saying less is an important rule when it comes to landing page design.

The Influence of Custom Reporting
Analyzing custom reports on Google Analytics is another excellent strategy for increasing website conversions. The way in which you interpret the data generated from your site’s activity can offer valuable information for improving user experiences and increasing conversions.

One valuable report is a measurement of conversion rates based on the browser and device with which the user accessed your site. The browsers and devices for which you have the lowest conversion rates indicate opportunities for improvements. For instance, if mobile users are producing the lowest conversion rates then improving your mobile site should become a priority.

Top landing pages is another report that offers insight regarding where improvement efforts should be focused. By looking at your top landing pages and comparing their bounce rates to the site’s average, you can identify which top landing pages need to be revisited and tweaked.

Comparing new vs. returning traffic can further help webmasters understand how people behave on landing pages. This data can be broken down to compare different landing pages in order to see where new and returning visitors have the highest or lowest conversion rates.

Considering that the ultimate goal of every website is to convert users in one way or another, it is important to understand the factors that influence conversions. Consider the aforementioned conversion rate influencers when developing your own website or blog.

Author information

Jesse Aaron
Jesse Aaron is a professional blogger with a passion for homebrewing, and writes on a variety of topics on his blog Mashbout. In his spare time Jesse enjoys redditting, brewing beer (as you may have guessed), slowly learning Python, and reading (currently reading Infinite Jest). Follow Jesse on Google Plus.

For more about this article or content marketing in general see:
http://omhub.wordpress.com/2014/10/09/4-powerful-conversion-rate-influencers/

The 4 Powerful Conversion Rate Influencers page was posted “By Mike Armstrong”

4 Powerful Conversion Rate Influencers!

New post on Online Marketing Hub

4 Powerful Conversion Rate Influencers
by christopherjanb

Conversion rates are lifeblood statistics for webmasters. If Kyle Rush taught us anything about optimization at the Obama campaign, it’s to test everything like mad scientists.

Whether you are trying to promote readership, sell a product or drive traffic to a particular page, you want to increase the rate at which this behavior occurs. In order to achieve this goal, it is important to consider the factors that influence users’ decisions during the conversion process.

We’re going to look at:

How colors influence purchase rates, meanings, and sets a brand tone
How site speed can help – or hinder – conversion rates
How decision fatigue reduces conversions and why less choices is better for consumers
Why custom reporting is vital to optimizing for conversions, such as capitalizing on an influx of mobile or location-targeted users
The Influence of Color
When it comes to the purchasing decision, color is one of the most influential factors in determining whether or not a customer buys a product. This often, overlooked element of marketing can be very useful or detrimental depending upon whether or not it is taken advantage of.

For instance, 85% of customers cited color as the primary reason they purchased a particular product. One factor that plays into the importance of color involves the subconscious decisions that people make. After ninety seconds, people have already made a subconscious decision about a product and 90% of the time that decision is based on color.

Gender is also an important element to consider because men and women respond differently to different colors. Men enjoy products that are blue, black or sea foam green, and they tend to stay away from purple, brown and orange. Women on the other hand, like purple along with blue and sea foam green, while revealing a similar distaste for brown and orange.

The associations that people make with colors are important to consider when designing a product, website or brick and mortar store.The art and science of color theory embodies everything from meanings across cultures to light sensitivity. The following list shows the general meanings of different colors, specifically in the United States:

Red: lust, negative issues, excitement, love

Example: Target

Yellow: jealousy, competence, happiness

Example: Lipton Ice Tea

Green: good taste, envy

Example: Garnier

Blue: masculine, competence, high quality, corporate

Example: UB Solution

Pink: sophistication, sincerity

Example: Ouou

Violet/Purple: authority, sophistication, power

Example: Kaleidoscope

Brown: ruggedness

Example: Wawa

Black: grief, sophistication, expensive, fear

Example: HBO

White: happiness, sincerity, purity

Example: Apple

In digital environments – websites – colors are often leveraged to motivate users, normally in the form of a subscription, purchase, download, or click-through. The base color for a company logo or brand does not mean call to action buttons need to match or be harmonious in color. In fact, buttons with colors that contrast the main theme actually grab more attention.

The Influence of Site Speed
Website speed is a critical factor for converting customers online. One conversion rate study revealed a strong correlation between faster page load times and increased conversions. Every second that the page load time was reduced yielded a percentage increase in conversions. Conversion rates increased 3% for every second the loading time was reduced from fifteen to seven seconds.

This correlation was not limited to purchase conversions, as page load times proved to be an important factor in influencing donations. A study regarding the 2011 Obama for America campaign revealed that a three second reduction in page load time yielded a 14% increase in donations. This research reflects the importance of improving site speed for both for-profit and non-profit websites.

It’s easy to measure site speed today; just head over to Google’s page speed insights. In the example below, I put my own blog on the chopping block and you’ll see there’s a lot I can do to increase my page speed/reduce loading times:

The Influence of Choices
The number of choices that your landing page offers visitors is another element that impacts conversion rates. A basic summary of the research on this topic suggests an inverse relationship between the number of choices offered and conversion rates. Contrary to popular belief, more choices lead to fewer conversions as visitors are distracted, rather than being led to the point of conversion.

In terms of specific examples, social sharing buttons, webinar registration options, contact fields and landing page fields are all elements that should be limited in order to increase conversions. One study regarding social share buttons indicated that total shares decreased by 29% when two additional buttons were added to QuickSprout’s site. The same idea applied to a study regarding webinar registration, as conversions increased by 16.93% when the number of available sessions was reduced from four to three. This data suggests that the old saying less is an important rule when it comes to landing page design.

The Influence of Custom Reporting
Analyzing custom reports on Google Analytics is another excellent strategy for increasing website conversions. The way in which you interpret the data generated from your site’s activity can offer valuable information for improving user experiences and increasing conversions.

One valuable report is a measurement of conversion rates based on the browser and device with which the user accessed your site. The browsers and devices for which you have the lowest conversion rates indicate opportunities for improvements. For instance, if mobile users are producing the lowest conversion rates then improving your mobile site should become a priority.

Top landing pages is another report that offers insight regarding where improvement efforts should be focused. By looking at your top landing pages and comparing their bounce rates to the site’s average, you can identify which top landing pages need to be revisited and tweaked.

Comparing new vs. returning traffic can further help webmasters understand how people behave on landing pages. This data can be broken down to compare different landing pages in order to see where new and returning visitors have the highest or lowest conversion rates.

Considering that the ultimate goal of every website is to convert users in one way or another, it is important to understand the factors that influence conversions. Consider the aforementioned conversion rate influencers when developing your own website or blog.

Author information

Jesse Aaron
Jesse Aaron is a professional blogger with a passion for homebrewing, and writes on a variety of topics on his blog Mashbout. In his spare time Jesse enjoys redditting, brewing beer (as you may have guessed), slowly learning Python, and reading (currently reading Infinite Jest). Follow Jesse on Google Plus.

For more about this article or content marketing in general see:
http://omhub.wordpress.com/2014/10/09/4-powerful-conversion-rate-influencers/

The 4 Powerful Conversion Rate Influencers page was posted “By Mike Armstrong”