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CRO: Digital marketing strategies in the luxury sector
When the digital transformation of the industry goes through the processes of Conversion Rate Optimization
Conversion Rate Optimization
Conversion Rate Optimization (CRO) is becoming one of the most relevant practices in the whole digital marketing ecosystem. Over time, it has been an often neglected activity, whose knowledge and application was limited to a very small audience of industry experts.
It is a systemic process that, through the analysis and understanding of the behaviour and the movements of users within a given site, aims to increase the percentage of visitors who accomplish a particular desired objective, such as filling in a form, registering for a newsletter or closing the check-out phase of a shopping cart. Compared to the past, today it represents one of the most important growth techniques because, with respect to an investment aimed at acquiring new customers, it allows a company or a brand to obtain more action from existing customers.
During the replatforming process of the e-commerce portal of one of Italy's leading luxury brands, Like Reply has developed and implemented an advanced analytics solution to track customers' digital behaviour with the aim of optimising the conversion rate of web views into final purchases.
The process, step by step
During the start-up phase of the project, Like Reply focused on the analysis of the touchpoints (website, mobile app, landing page, etc.) in order to design a tracking solution that could answer the main requirements of user experience and the conversion process needed to drive business decisions in a clear way and through a data-driven approach.
In a second step, the identification of the so-called "bottlenecks" focused the analysis onto the points that represented the biggest barrier in the buying process of the final customer (e.g. superfluous passages, disturbing elements, exit points).
After the analysis phase, Like Reply defined a Conversion Rate Optimization (CRO) campaign plan to be implemented, specifically aimed at understanding and verifying the best user experience model able to reduce "drop points" and, at the same time, increase the ability to generate new sales.
The Google Marketing Platform suite tools already made available by the client, in particular Google Analytics 360 and Google Optimize, have been used to track and monitor user purchasing behaviour and to implement CRO campaigns on the e-commerce platform.
RESULTS ACHIEVED
+20% conversions
After the deployment of the tracking solution, Like Reply focused on the Conversion Rate Optimization (CRO) activity consisting of the analysis of critical points, the consequent design of the campaigns and their implementation. In just two months, the optimisation process led to significant results, generating more than 20% increase in the volume of conversions. Today, thanks to the extensive capability of analysing the digital behaviour developed, the Brand can rely on a significant amount of information from its customers as a base for an efficient optimisation of the browsing experience. The evolution of the CRO optimisation process will permit the use of such information to create a more engaging user experience for prospects as well as a strongly " bespoke" one for customers, especially for recurring ones. Early tests have already shown potential to increase double-digit sales targets.
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Like Reply is the Reply Group company specialized in Data-Driven Digital Marketing with expertise in Analytics, Attribution Modeling, SEO, Performance Media, marketing campaigns and AdTech and MarTech projects.