Conversion rate optimization is an ever-evolving landscape. Marketers are constantly coming up with new strategies and tactics, many of which involve finding ways to integrate new technologies into their practice.
Recently, one technological advancement has emerged as a game-changer: artificial intelligence (AI). With its ability to analyze vast amounts of data, make real-time decisions, and adapt rapidly, AI has already proven that it can revolutionize the CRO process.
In this article, we’ll get into the 4 biggest impacts that AI has had on CRO and see how it’s empowering marketers and businesses to unlock previously untapped potential.
1. Save money
Although CRO is an essential part of running an online store, it’s very expensive to do it well. Many enterprise-level companies hire full-time CRO experts to ensure that their site is as efficient as possible, but this comes with a cost of anywhere between $40,000 and $120,000 per year.
If you use AI to optimize your website, you don’t have to hire an expensive expert. Instead, you can save that money and invest it in other projects.
2. Improve efficiency
There are a lot of steps in the CRO process, from the initial analysis of your web traffic and user behavior to brainstorming new campaigns, setting them up, and finally analyzing the results. And then you need to start all over again.
All of this work demands a significant amount of time and effort—it can be a full-time job.
With AI, you can automate 99% of the repetitive tasks involved in CRO, including collecting and organizing data, coming up with ideas to improve your store’s performance, and testing variants against one another.
When you don’t need to spend your valuable time on these tasks, you’re free to focus on the important tasks where your human touch is really needed.
3. Always make the right decisions
Experienced marketers (at least the honest ones) will tell you that they often have no idea which version of a headline or unique selling proposition will perform best when it’s in front of real customers. That’s because they know that humans are emotional and there’s always a risk of making suboptimal decisions when you’re relying on gut feelings.
The only way to know for sure what works and what doesn’t is to generate hard data by testing out your options. And that’s exactly what AI systems can do easily.
When you use AI to optimize your website, all your decisions are going to be backed up by data. You’ll see the value of that process reflected in your results.
4. Improve conversion rates
Speaking of results, you’ll see a spike in your conversion rates when you start using AI to assist your CRO efforts. Not only can you use AI to test out different versions of your website and marketing messages but you can also find out which versions work best for different audience segments.
Personalizing your website experience for visitors with different interests and preferences leads to a customer journey that’s catered to each individual. When all your messaging and offers are relevant to a customer, they’ll fly through your conversion funnel.
The only obstacle with this kind of personalized customer journeys is the time and effort required to create them, but the emergence of AI in marketing has brought this level of personalization into the picture for any online store.
AI is a new force in marketing, and we’re all still figuring out how to make use of its advanced capabilities. But as you can see from the benefits we’ve outlined in this article, one place it can make a huge difference is CRO.
OptiMonk’s AI-powered CRO tool can help anyone who has an online store access the potential of optimization with the click of a button. After analyzing your web traffic and user behavior, our advanced marketing AI can identify the key moments of your customer journey that need to be improved and help you make the best data-backed decisions. Sign up for early access now!