Assessing Need for Conversion Optimization Platforms

Conversion optimization platforms (COPs) are a must-have tool for marketers to systematically test and personalise websites, mobile apps and other touch points to provide each user with a satisfying experience. But deciding whether your company needs one calls for a comprehensive self-assessment of your organisation’s needs, capabilities, management support and financial resources.

Failing to meet customer expectations can have serious implications for a business. According to McKinsey research, 71% of consumers expect companies to personalise their interactions, and 76% get frustrated when they don’t. It’s easy for frustrated customers to find alternatives too; three-quarters of consumers adopted new stores, products or buying methods during the pandemic.

Businesses are increasingly recognising the importance of customer experience to their overall health. The digital experience is rated as “critical” by almost half (47%) of companies, while only a third (33%) said maximising conversion on their websites was critical, a Decibel/Econsultancy survey found.

COPs, which can be deployed as part of a digital experience platform (DXP) or independently, may use differing approaches but ultimately have the same goal of delivering experiences that meet users’ needs and maximise conversions. In order to make an informed decision on adoption, companies should assess their current testing processes and identify any gaps that need filling.

Questions to consider include: do you have the staff and capabilities to manage the agile marketing workflows involved in conversion optimisation? Does the martech you’re currently using work with a COP? Do you have web development leadership support? And does your C-suite support this type of initiative?

Successful adoption is contingent on management being convinced that better conversion rates and improved customer experience are essential to the success of the business, and being willing to invest in the software and staff necessary to implement a conversion optimisation initiative.

For more information, our new report “Enterprise Conversion Optimization Platforms: A Marketer’s Guide” is now available for free download.

Originally reported by Martech: https://martech.org/does-your-company-need-a-conversion-optimization-platform/
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