What is a conversion optimization platform, and when do we need it?

Want better conversion rates? Conversion Optimization Platforms (COPs) help you deliver highly personalized customer experiences to your target audience at all touchpoints—so you can successfully convert leads. Read everything you need to know about a COP here.

L

ots of website visitors but hardly any purchases or bookings? Whether whitepaper downloads, newsletter sign-ups, or online purchases – a high conversion rate is essential to achieve your revenue or marketing goals. This is exactly where conversion optimization platforms come in! When used strategically, they help you optimize the user experience of your website or app and use AI to personalize individual touchpoints along the customer journey for each user. We’ve summarized for you which functions a COP offers and who the tool is suitable for.

Back to Basics: What is a COP?

User experience has played a role in marketing for a long time, but it has really gained momentum again, especially thanks to MarTech. A conversion optimization platform offers a range of tools and features that help fine-tune the user experience. It provides valuable insights into data and helps you better understand your customer journey. Using the results obtained, you can better adapt the marketing strategy for your product or service to the needs and requirements of your target audience.

What do I need a conversion optimization platform for, and when do I need one?

More is more: The conversion rate is one of the most important metrics in marketing and has a major impact on a company’s success. Especially when a lot of resources are invested in marketing strategies, companies should ensure that their efforts pay off and result in a high conversion rate.

A classic way to independently review the effectiveness of certain measures is A/B testing. But especially when time resources are limited or a more holistic solution is desired, a conversion optimization platform is the better choice. With numerous features, it provides various indications of potential weak points in the customer journey. At the same time, a COP offers insights into the behavior and needs of the target audience.

The insights a COP delivers enable you to personalize your offering as effectively as possible and make it user-friendly. And that’s the be-all and end-all for optimizing your conversion rate! Because, according to a survey by Decibel and Econsultancy from 2020 around 90 percent of the companies surveyed consider the digital user experience and conversion to be important or even essential for the success of their own business. At the same time, a large share of digital customers now expect personalized offers on websites and in apps.

Whether using a conversion optimization platform is worthwhile for you depends on various factors:

Matchilla - Matching-Plattform und Marktplatz Are your conversion measures used to date working?

Matchilla - Matching-Plattform und Marktplatz Are there employees available to implement the platform?

Matchilla - Matching-Plattform und Marktplatz Does the investment pay off (keyword: MarTech ROI)?

COP

What are important functions and features of a conversion optimization platform?

Here you can find a few typical functions and technologies that most conversion optimization platforms offer:

Matchilla - Matching-Plattform und Marktplatz A/B testing
Here, different versions of a website, a newsletter, or other marketing content can be tested and compared to find out which version performs better. If individual elements of the same asset are modified and played out equally, the COP analyzes the conversion rate and helps marketers fine-tune accordingly.

Matchilla - Matching-Plattform und Marktplatz Heat map/analytics
Heat maps and analytics tools help analyze user behavior within a website or an app. The conversion optimization platform therefore provides data on how and where users interact with which content.

Matchilla - Matching-Plattform und Marktplatz Personalization
With artificial intelligence COPs can identify the needs and interests of target groups, so that content can be personalized accordingly.

Matchilla - Matching-Plattform und Marktplatz Segmentation
Based on the data obtained, the COP helps segment the target groups. The platform draws on various sources, enabling a comprehensive picture of the target group and its specific interests and habits.

What questions should I ask when choosing a COP?

A Conversion Optimization Platform is extremely useful software. However, the selection of tools is large these days, and which is the right solution for you depends on various factors. When choosing the right COP, you should therefore ask yourself a few questions:

Matchilla - Matching-Plattform und Marktplatz What current problems do I want to solve with the platform?

Matchilla - Matching-Plattform und Marktplatz What results do I want to achieve by using a COP?

Matchilla - Matching-Plattform und Marktplatz Which features are essential for my company?

Matchilla - Matching-Plattform und Marktplatz How easy is it to implement the platform?

Matchilla - Matching-Plattform und Marktplatz Can the platform be integrated with other MarTechs?

Matchilla - Matching-Plattform und Marktplatz Does the provider offer comprehensive support?

Matchilla - Matching-Plattform und Marktplatz Do we need consulting from the provider in advance?

Matchilla - Matching-Plattform und Marktplatz What other features might we still need from a COP in the future?

Conclusion: Conversion optimization platforms ensure optimal user experiences!

Turning interested parties into customers – that is one of the overarching goals of marketing. Personalized user experiences play a central role at all touchpoints along the customer journey. To ensure them, using a COP can make sense. Conversion optimization platforms are among the most fundamental and important MarTech solutions. As with all tools and software, however, there are different offerings here as well, whose advantages should be weighed. Because: conversion optimization platforms do deliver valuable results, but the feature set has to be right in order to truly benefit from the platform. If, however, you get clear in advance about where your challenges lie, the right COP will surely and reliably point you on the path to success.

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About the author

Till Zier is CPO at Matchilla and, as a MarTech expert, reports in MatchZINE on news and trends in marketing, automation, analytics, and data.

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