Happy to see your website traffic increasing? You shouldn’t be happy in true sense if you are not able to convert your website visitors into your customers. The global average website conversion rate is 3.68%.⁽¹⁾ Clearly, it’s important to talk about boosting conversion. Conversion Rate Optimization (CRO) involves increasing the percentage of website visitors who complete a desired action. This action could be anything- filling out a form or making a purchase.  To increase the number of people who take action, it’s important to first find out  how your users are navigating your site, and what’s stopping them from taking the desired action. Sounds overwhelming? Now picture yourself with a virtual assistant that does this for you—all in real-time. We’re talking about AI-Powered Conversion Rate Optimization!

Why AI-Powered Conversion Rate Optimization?

AI Conversion Rate Optimization is the future, not just a temporary digital marketing trend. It can change your website visitors’ decision from “maybe” to “definitely.”  Let’s see how:

• Personalize User Experience

AI has the amazing ability to customize each visitor’s experience, greatly increasing engagement and the likelihood of conversion. You must have noticed that whenever you log in to your frequently used e-commerce website, they display product recommendations that seem to be too relevant! It’s predictive analytics at work! These websites use AI to showcase relevant recommendations based on your browsing history and purchases.

This is how you too can engage your website visitors and boosts conversion.

• Leverage Data-Driven Insights to Improve User Experience

AI can help you discover how visitors interact with your website. This way you get to know which website elements need improvement.

Suppose you run a financial services company and you’ve implemented AI analytics into your website. Now as the AI system tracks metrics like time spent on each page, click-through rates, and user pathways, it discovered that many users abandoned the form-filling page. By analyzing this behavior, you could identify a pain point that your form is a bit complex or lengthy. With this insight, you just simplified your form to improve user experience.

AI-driven analysis goes beyond basic metrics and uncovers intricate patterns in user activity data:

• Regression Analysis: This helps in understanding the relation between two variables, like how a change in the design of the website impacts engagement levels.
• Time Series Analysis: This helps to discover how user behavior changes over time, enabling you to identify trends and seasonal patterns.
• Neural Networks: The neural networks utilize complex models to recognize hidden patterns and detect non-linear relationships in data. They offer highly accurate predictions!

• Automate A/B testing

In case you don’t know, A/B testing, also known as split testing, is a method used to compare two versions of a webpage, or different elements of a web page like headlines, images, and CTAs to determine which performs better.

One of the most important benefits of AI conversion optimization rate is automated A/B Testing. AI automates most of the labor-intensive and time-consuming procedures associated with A/B testing.

It enables you to create multiple test variations of different elements (headlines, images, and CTAs), conduct several tests at once, instantly assess the outcomes, and automatically apply the variants that perform the best. Thus, boosting your lead conversion. It also uses historical data to predict the outcomes of different variations, improving the accuracy and reducing the time needed to conclude.

• Enable Dynamic Pricing

We’re sure you will find this relatable- You want to book a flight from Delhi to Mumbai and the fare you checked is INR 5200. After a few days, you notice that the price increased to INR 5900. This increase could be due to a surge in demand, as more people are booking flights for that date, or because the airline has fewer seats available. After a few days, you notice the price to be INR 4200. This could be because as the departure date approaches, there could be many available seats. This is ‘Dynamic Pricing.’

Dynamic pricing is one of the popular AI-driven strategies where businesses adjust the prices of their products or services in real-time based on various factors such as demand, competition, and user behavior.

But wait dynamic pricing is not only about price adjustments. AI and advanced data analytics also offer personalized discounts that are more likely to appeal to specific customers. Example- giving 25% off on running shoes to someone who frequently buys sports items. Dynamic pricing also allows you to segment customers based on their purchasing behavior. High-value customers might receive exclusive deals, while price-sensitive customers get lower prices to encourage them to make a purchase.

• Enable Real-time Customer Support

Do we even need to mention AI-powered chatbots and virtual assistants when we talk of the benefits of using AI? From high-end brands to start-ups, everyone today is leveraging them for customer support for all the good reasons–immediate assistance and 24/7 availability. When you provide instant support, you ensure that your potential customers do not drop out while purchasing from your website, at least not due to unanswered questions or delays in response time.

Implementing AI in CRO campaigns

Follow the below steps to implement AI tools in your website:

• Identify Key Metrics:

It’s important to identify the metrics that natter to you. These metrics ould be average order value, bounce rate, customer lifetime value, etc.

• Choose the Right AI Tools:

Select AI tools that match your needs and goals. Some popular ones are Google Analytics, Salesforce Einstein Optimizely, and Dynamic Yield,. While making the decision, take into consideration ease of use, scalability, integration capabilities, and of course cost.

• Integrate AI with Existing System(s):

Ensure the tool integrates seamlessly with your current marketing stacks, including your CRM, email marketing platform, content management system, and e-commerce platform. Only then you can get insights and results.

• Continuous Learning and Adaptation:

Now keep feeding your tools and software with new data and keep refining your strategies based on the insights you get.

Conclusion:

AI in digital marketing is here to stay and optimizing website conversions using AI technology is only going to evolve! AI can autonomously test variations, comprehend and anticipate customer behavior, and personalize information in real-time, while continuously improving your website’s user experience.

The intelligent, flexible, and immensely promising future of CRO is now here. Go ahead and empower your business with AI-Powered Conversion Rate Optimization. Ensure your website not only attracts traffic but also converts it effectively!

FAQs:

What is AI for conversion rate optimization?

AI for conversion rate optimization uses machine learning algorithms to analyze user data, personalize experiences, and automate improvements, resulting in higher sales and engagement rates.

What is conversion rate optimization?

Conversion rate optimization (CRO) involves improving your website and marketing efforts to increase the percentage of visitors who complete desired actions, such as making a purchase. It focuses on enhancing user experience and streamlining the conversion process.

How to use AI in CRO?

Use AI in CRO by analyzing user data and identifying patterns, implementing personalized recommendations and content, and automating A/B testing to find the most effective strategies.

How do I calculate the conversion rate?

(Number of sales / Number of visitors to your site) x 100 = Conversion Rate