One of the greatest joys of my ecommerce coaching engagements with store owners is being able to help them grow their online business.
While coaching, I’m constantly testing various methodologies which add incremental increases to their conversion rate.
During a recent promotion with one store owner we were able to achieve sustained conversion rates of a whopping 18.67% over a twelve day period. This conversion rate is well over the industry standard conversion rate of about 2.4%.
The graphic below is a screenshot of the analytics program showing the spike in conversion during that time period.
The average sustained conversion rate for this client over the past 15 months is a solid 10.48%. Again, well above the industry average. Yet, the recent promotion made even that conversion rate look small with the peak conversion rate being an unheard of 26.17%!
How Did it Happen?
By creating a promotion that work in conjunction with events already happening in the media, we were able to feed off of the hype and excitement that was generated through those channels. The best part is we never paid a dime for that exposure. We let the media do it for us and simply created a campaign that took the excitement and moved it to the client’s website in the form of a promotion.
What was the promotion’s foundation? March Madness and the NCAA basketball tournament.
With all the media exposure and hype surrounding that event it made sense to create a promotional campaign which captured the excitement. It’s often said by many that if you want to make money, “follow hollywood” or “follow the media”.
The general idea of the campaign was simple. Take the excitement surrounding the NCAA basketball tournament and turn it into a game which let the customers choose their own “tournament participants” (i.e. products) simply by purchasing their favorite products from the online store.