As a company tries to grow web business, Internet marketing and site hits can become easily confused with actual progress. There are many websites and ad agencies out there promising relevant eyeballs to a website but in the end merely bring annoyed people to a page with no intention of actually consuming the information on the website While a limited number of these users actually purchase, it is not an effective use of ad dollars and it does not expand how recognizable the product or the company is; conversion needs to be the focus.
What is Conversion?
Conversion means different things for different websites. For some it means making a purchase. For others it means sending an inquiry or signing up for an email list. For others, it means time spent on the page. It all depends on how the company makes money and what the company needs the visitors to do in order to further that goal. For example, video streaming companies need people to watch the video making it about the time the visitors spend on the site. This then turns into fodder for allowing the site to sell ad time or promotional opportunities based on the videos.
Knowing Where to Spend Your Money
Expanding out on the advertising money that may be spent, knowing your customer base is important. Online video ads have taken off now that they can be placed differently than before. Analytics allow companies to choose the types of online video bringing in viewers who might be interested in specific products. The ad time can be purchased more like TV ad time resulting in a 12% upswing in click-throughs when ad time is purchased. This is most prevalent in online content put out through network or cable television streaming on the web. While this time is more expensive, it is also more profitable. By increasing the number of people who actually care about your product and targeting the appropriate audience you get more bang for your buck.
Banner ads have gone down in popularity after a steep decline (65%) in click-throughs. Many of these click-throughs were found to be illegitimate, causing a decline in the initial return numbers. The new formula required either conversion or a substantial amount of time be spent on the website to be deemed a true “visit.” Let the history of the market be your guide and help you spend your money more effectively.
Bloggers
There are many professional bloggers out there and you need to find the one who can get you the most attention. This can be a combination of advertising on the website and courting the blogger to post an honest review of your product. The followers of most blogs are rabid and will do almost anything their leader suggests. This is how you get to a core audience and the conversion rate on such recommendations is higher than straight advertising. The people understand there is a kickback for the blogger but the trust built with the audience makes that a moot point.
Understanding Your Market
The first step in focusing on conversion rather than straight numbers is to determine goals. How much do you want your company to grow every month? Is this a number of sales? Is this a number of subscriptions? Is this an email marketing base? You need to come up with the concrete goals so every quarter you can evaluate the successfulness of each of your campaigns. This shows you directly where to spend more money and where to change course. It also saves you from dumping money down a black hole for an entire year before reconsidering your options.
Online marketing and the online world have shrunk and grown the marketplace at the same time. It is harder to get your products noticed but you are no longer only dealing with a regional market. You can work all over the world. This makes public relations complicated and frustrating, but once you start watching your conversion numbers grow you will see your success mount exponentially. This instant gratification is something old advertising could not show you. The new world order means you make your own rules and watch your own bottom line, just make sure you are watching the right one.