The use of chatbots in customer service industry is growing. According to estimates, more than 67% of consumers worldwide used a chatbot for customer support in the past year and around 85% of all customer interactions will be handled without a human agent by 2020.  40% of consumers do not care whether a chatbot or a real human helps them, as long as they are getting the help they need. Chatbots can save up to 30% in customer support cost and can help businesses save on customer service costs by speeding up response times and answering up to 80% of …

Customers don’t think like we do. And similarly, what we may think looks or sounds right for our company and website, or what may be a primary motivator of visitors, could (and is most likely) completely off.

Elizabeth Wellington explains;

“Customers give information that reveals their attitudes (how they think they should behave) rather than behaviors (how they actually make decisions)”

But conversions and the path that leads to those conversions is highly driven by the customer. The image of a funnel is what comes to mind when many think of conversions, however, because the customer is irrational and highly distracted, …

Wild guesses and opinions often only result in delusional outcomes. Though opinions are by far the most widely accepted truth, they rarely are factual. It is a better practice to lean on deductive reasoning and logic instead of guesswork. But how do you arrive at what is labeled as a fact or a valid statement? Experimentation is the key.

Businesses realize the importance of scientific experimentation and testing. Many product-based enterprises have imbibed experimentation in their organizational culture. The reason – innovation cannot result without experimentation. Moreover, though there are millions of ideas that spur every minute, every hour, it …

Everyone is about increasing their conversion rates and revenue. But to succeed during increasingly competitive times, there are many factors you should consider. Conversion optimization is a discipline that encompasses usability, copywriting, statistics, testing, and research. CRO is successful when the target market’s needs, wants, and desires are successfully accounted for through design and copy.

The copy is essential to getting your point across and better persuading the online visitor. Your copywriting skills become extremely important to be a successful CRO. According to Nick Kolenda;

“Writing copy is tough. Writing persuasive copy is even tougher.”

Did you know that using e-commerce product videos on product pages can help you increase your online sales and boost the conversion rate of your e-commerce website? 73% of online consumers say they are more likely to buy a product after watching videos that explain how it works. 58% of consumers think companies with product videos can be trusted whereas 44% of consumers said they would purchase more products from an e-commerce website that feature product videos. In terms of adding products to cart, consumer who views a product video is up to 144% more likely to add that product …

There are few key performance indicators that everyone focuses on for an e-commerce store: conversion rates, average order value and the number of monthly visitors. These metrics translate into money in the bank (or lack thereof).

Each of these KPIs is influenced by a variety of other metrics that causes them to go up or down.

It is important to state that abandonment rates are incredibly site specific. Establishing market standards for them is difficult. Each site, with its customer base and specific audience, will require its unique evaluation and solutions.

Bayesian versus Frequentist Statisticians: the war is real

Imagine that you wake up in the one morning and you don’t remember anything from your previous life. You’ve erased all memories from your previous days.

Pretty intense and terrifying, huh?

Well, that’s how Bayesian statisticians describe frequentist colleagues because frequentist statisticians do not use any prior knowledge. Everything you learn about the world is through the lens of events that are happening at the moment and currently.

Michael Hochster explains;

“The essential difference between Bayesian and Frequentist statisticians is in how probability is used.”

If you are a marketer, optimizing for conversions is probably etched in bold in your job description. After all, getting users to complete the desired action on your website – be it clicking on a PPC ad, filling up a form, subscribing to the blog, or making a purchase – is the primary objective. The more efficiently you can drive conversions, the more you end up saving in terms of time, money, and effort.

Needless to say, every little tweak you make to your website to convert a visitor into a customer or a passive user into an active one, …