Understanding the Quality of Your Audience for Long-Term Growth

– A quality audience refers to people who are actively looking to make a purchase and show intent, rather than just those who have made a purchase.
– Understanding the conversion rate of a quality audience is crucial for marketers and brands to improve their customer journey.
– Many stores have a low conversion rate, with only 30% of people who sign up for a newsletter or discount actually converting, highlighting the need for better understanding of audience behavior.Understand the quality of your audience to improve conversion rates and build a better customer journey.What is a quality audience? A quality audience isn’t just the people who make purchases. It’s the people who are actively looking to buy and show intent, as well as their conversion rate. This conversion rate is not just your own, but a combination of data and information provided by the actual individuals who are looking to make a purchase and their actual conversion. This concept is often difficult for marketers and brands to grasp. If I have a high-quality audience that is being driven across all my marketing channels and I’m still not seeing conversions, I need to figure out why. On average, most stores have a conversion rate of less than 30% for subscribers who sign up for a discount. This means that 70% of people who sign up for your newsletter in exchange for a discount do not end up making a purchase. All you have is their email or phone number, and there is no context to understand why some of them convert while others do not. By answering this one question, you can get closer to building a better customer journey. This is now the tagline of our website, Formtoro. Simply put, there is no bigger change you can make for long-term growth than understanding the quality of your audience. #data #ecommerce #customerjourneyhttps://www.linkedin.com/in/jivanco

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