Leveraging Pre-Purchase Data for Increased Conversion Rates

– Post purchase surveys provide valuable insights on customer satisfaction and can help improve conversion rates.
– Surveys on signup allow for understanding customer goals and preferences, enabling better coaching and tailored marketing strategies.
– Lack of context in data analysis is a major gap in marketing, and understanding relationships and influences in data is crucial for making informed decisions.Collect data before a purchase is made to better understand customer needs and preferences, in order to improve conversion rates and increase sales.Post-purchase surveys are the equivalent of a post-game interview with an athlete after they’ve played the game and asking them how it went. Surveys on signup are like interviewing someone before they start playing and asking them what they are hoping to accomplish, and then being able to coach them to achieve a result. I don’t know about you, but there’s way more value in understanding how I can coach people while they are playing the game than looking at tape and analyzing what could have been better when 75-80% of the time those people will never play another game with me. Long-term, this presents patterns about what people are looking to accomplish as they are considering a purchase and how I can change the pages, value propositions, and touchpoints around these things, which leads to an increased conversion rate and getting more product in hands. This pushes us toward a conversation about context and the lack of it in the majority of the data that we currently collect. One of the largest gaps in marketing comes down to having a clear grasp around context, correlation, and causation. Being able to recognize relationships in data and how they influence an outcome is your superhuman ability. The problem is, people read data without context most of the time and make decisions around KPIs that have multiple variables that impact them. Rather than a teacher interviewing a student after we’ve already handed down a grade, let’s be customer-focused and leverage data collected before a purchase is made to better understand how to serve the class so when it comes to the opportunity to sell them something, they are lining up at the checkout. Here’s a quick health check on if you’re doing this right. Ask yourself the following: 1. Do you know why someone is signing up for your newsletter? 2. Do you know why some people purchase and others don’t after signing up? 3. Do you know what percentage of people that subscribe convert? If any of those answers don’t come with data attached to them, you’re guessing. If you’re guessing, you’re probably wasting money. Stop wasting money, we can help. #marketing #data #ecommercehttps://www.linkedin.com/in/jivanco

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