Optimizing Conversions: The Conversion Likelihood Model According to Flint McGlaughlin
Posted: Tue Dec 03, 2024 7:02 am
When, as happens to the writer, you have several years of professional career behind you, you can uk phone number list draw a fairly precise balance of what the pains are of managers and entrepreneurs in front of marketing choices. Having covered over the years both the role of "client" and that of marketing services provider, I can undoubtedly say that one of the greatest difficulties for anyone approaching marketing - especially in its ethereal digital version - is that of calculating in advance the return on the promotional investment.
Once you have established a budget, determined the campaign and identified the landing point on the website, identified the right price that should represent the ideal meeting point of supply and demand, the question that customers ask us - especially if they own an e-commerce or a store on Amazon - is always the same: what will all this bring me? What are the chances that everything will work and that the machine I have set in motion will continue in the most efficient way possible?
Believe it or not, calculating this probability is possible, and we at the agency often do so using a statistical model that is probably still little known to entrepreneurs and industry insiders in general, but no less effective for that: the one developed by Flint McGlaughlin.
The Conversion Likelihood Model in (Digital) Marketing
Flint McGlaughlin is a digital marketing expert who has developed a conversion probability model to help businesses optimize their website conversion. The model is based on the analysis of three key factors: customer motivation, clarity of the value proposition, and perceived friction by the user during the conversion process. So let's start by clearly defining what each of these elements means, and then understand how McGlaughlin has combined them with others, such as anxiety or website attractiveness, to produce a mathematical model that I find very effective.
Customer Motivation
Customer motivation is the most important factor in determining a website’s likelihood of conversion. Without motivation, website visitors will not be interested in what you have to offer and will not be motivated to take action on your website, such as registering or purchasing a product.
Motivation can come from a variety of factors, not all of which are immediately transactional: sometimes it can be the need to solve a problem , other times simply the search for information . To increase customer motivation, it is important to create content and offers that are relevant and interesting to them – so work to build something that is able to communicate effectively with your target. For example, a good way is to create content that addresses the problems and concerns of your potential customers and provide offers that meet their specific needs.
Clarity of the value proposition
Value proposition clarity refers to a brand’s ability to clearly and convincingly communicate the value of its products or services. The value proposition should clearly and concisely explain what you offer and why it is important to potential customers. To increase value proposition clarity, it is important to create content and messages that are relevant and compelling to your target audience . This means that you should highlight the strengths of your product or service and provide concrete examples of how it can help your potential customers solve their problems or meet their needs.
The friction perceived by the user during the conversion process
This refers to the perception of website visitors regarding the difficulty or frustration they encounter during the conversion process , such as the complexity of the checkout funnel or the difficulty in entering data. To reduce perceived friction, it is important to simplify the conversion process and make it as seamless as possible. This means that you should avoid asking for too much information and provide a seamless shopping experience.
IF YOUR GOAL IS TO IMPROVE YOUR WEBSITE CONVERSIONS, CONTACT US: TOGETHER WE WILL STUDY A STRATEGY TO MAXIMIZE THE RESULTS
Once you have established a budget, determined the campaign and identified the landing point on the website, identified the right price that should represent the ideal meeting point of supply and demand, the question that customers ask us - especially if they own an e-commerce or a store on Amazon - is always the same: what will all this bring me? What are the chances that everything will work and that the machine I have set in motion will continue in the most efficient way possible?
Believe it or not, calculating this probability is possible, and we at the agency often do so using a statistical model that is probably still little known to entrepreneurs and industry insiders in general, but no less effective for that: the one developed by Flint McGlaughlin.
The Conversion Likelihood Model in (Digital) Marketing
Flint McGlaughlin is a digital marketing expert who has developed a conversion probability model to help businesses optimize their website conversion. The model is based on the analysis of three key factors: customer motivation, clarity of the value proposition, and perceived friction by the user during the conversion process. So let's start by clearly defining what each of these elements means, and then understand how McGlaughlin has combined them with others, such as anxiety or website attractiveness, to produce a mathematical model that I find very effective.
Customer Motivation
Customer motivation is the most important factor in determining a website’s likelihood of conversion. Without motivation, website visitors will not be interested in what you have to offer and will not be motivated to take action on your website, such as registering or purchasing a product.
Motivation can come from a variety of factors, not all of which are immediately transactional: sometimes it can be the need to solve a problem , other times simply the search for information . To increase customer motivation, it is important to create content and offers that are relevant and interesting to them – so work to build something that is able to communicate effectively with your target. For example, a good way is to create content that addresses the problems and concerns of your potential customers and provide offers that meet their specific needs.
Clarity of the value proposition
Value proposition clarity refers to a brand’s ability to clearly and convincingly communicate the value of its products or services. The value proposition should clearly and concisely explain what you offer and why it is important to potential customers. To increase value proposition clarity, it is important to create content and messages that are relevant and compelling to your target audience . This means that you should highlight the strengths of your product or service and provide concrete examples of how it can help your potential customers solve their problems or meet their needs.
The friction perceived by the user during the conversion process
This refers to the perception of website visitors regarding the difficulty or frustration they encounter during the conversion process , such as the complexity of the checkout funnel or the difficulty in entering data. To reduce perceived friction, it is important to simplify the conversion process and make it as seamless as possible. This means that you should avoid asking for too much information and provide a seamless shopping experience.
IF YOUR GOAL IS TO IMPROVE YOUR WEBSITE CONVERSIONS, CONTACT US: TOGETHER WE WILL STUDY A STRATEGY TO MAXIMIZE THE RESULTS