Gvir – A New Cryptocurrency Just for Credit Unions and Their Members!
Gvir – A New Cryptocurrency Just for Credit Unions and Their Members!
Gvir – A New Cryptocurrency Just for Credit Unions and Their Members!

Marketing Bookshelf: Conversion Optimization

November 1, 2020

Conversion Optimization: The Art and Science of Converting Prospects to Customers 

By Sarah Zane

Every company is in the business of trying to convert prospects to sales, and credit unions are no different.

Conversion Optimization, by Khalid Saleh and Ayat Shukairy, aims to show business leaders how to turn prospects into sales.

The book introduces the core concepts of conversion for the novice, including the basic formulas and all related general concepts. It then goes on to build on these ideas in the “Conversion Framework,” an outline of seven key principles for conversion optimization:

  1. Trust and confidence
  2. Fear, Uncertainty, Doubt/FUDs
  3. Incentives
  4. Engagement
  5. Visitor persona temperament
  6. Buying stage of visitors when they reach your site
  7. Sale complexity

The book then explores the first four principles, defining them as website-centric factors that can be presented through design, layout, copy and flow.

The authors explain that enhancing these factors is the first step toward successful conversion optimization:

1. Trust and confidence: Marketers can increase customers’ trust and confidence in their brand by displaying social proof on their webpage. As a credit union, this can translate into testimonials from satisfied members or statistics showing the growth of the credit union’s membership.

2. FUDs: FUDs can be decreased with targeted copy and design that makes navigating your website a pleasant and uncomplicated experience.

3. Incentives: Incentives for immediate action and returning to the website include promoting urgency and scarcity of an offer and dividing an informational piece of content into two separate posts to encourage a return visit to your website.

4. Engagement. The authors posit that long-term engagement with existing and potential members can only be achieved through the creation of “a-ha moments.” This involves surpassing expectations and delivering outstanding content that sticks in readers’ minds.

The book then goes on to review the remaining three principles, marking them as visitor-centric factors relating to the website visitor’s mindset and the nature of their interaction with the brand:

5. Visitor persona temperament 

6. The buying stage of visitors when they come to the site 

7. The sale complexity 

Unlike the first four principles, marketers have no control over these factors; however, it is still crucial that these principles are accommodated in the company’s design, copy and visitor flow.

After the Conversion Framework concepts are presented, Saleh and Shukairy go on to share 49 factors for marketers to consider when trying to optimize their website. These short but insightful pointers are super-useful for any marketer seeking quick tips for perfecting their website.

Conversion Optimization takes the confusion out of this crucial concept and can help you grow your credit union through one of the most valuable media of today’s marketing: the company website.