O the hell out of your CRO - Part 2
[Part 1] Enjoy this panel discussion at a recent event on all things conversion rate optimisation with our the amazing Raine Peak from New Look and Richard Chapple from here at The Growth Foundation.
Embark on a journey unraveling the intricacies of the DDA model, Omni-channel stitching, and the challenges of attribution and conversion rates across online touchpoints.
You'll gain insightful knowledge that will equip you to identify more valuable customers and develop a more cohesive brand experience.
Key Takeaways:
Conversion Rate Optimisation: In the online e-commerce landscape, it's essential to focus on conversion rate optimisation. One way to do this is through predictive models and lifetime value (LTV) measures. Using these strategies, businesses can identify more valuable customers and offer them a more cohesive brand experience, thereby increasing their chances of making a purchase
Importance of Customer Persona and Journey: The podcast emphasised the need to understand customer personas and their journey patterns. By knowing what products they buy and their buying habits, businesses can recommend personalised products, thereby increasing conversion rates
Profitability and Unit Economics: The podcast underscored the importance of understanding unit economics for e-commerce profitability. This involves identifying and measuring key metrics such as EBITDA and net revenue and adjusting spending according to market demand. This transparency and understanding of profit and gross margin throughout the business can inform decision making and lead to a more profitable e-commerce business
Last but by no means least, a thank you to out partners Bloomreach and Verse. Click the links below to learn how they can help you grow the right way.
The Right Way to Grow is brought to you in partnership with our friends over at Bloomreach and Verse.
