Brand With 1,000 Faces: Iterations Over Volume
In the vast landscape of branding and marketing, there's a prevailing notion: the more eyes on a product, the better. This has led to a volume-driven approach, where Conversion Rate Optimization (CRO) often hovers at a meager 2-3%. The focus? Get as many eyes as possible, even if it means compromising on quality. But what if there's a more effective approach?
Brands that have mastered the art of presenting their product with tailored attributes, that unique curated touch, consistently outperform their competitors. It's not just about quantity; it's about quality. It's about resonating with the audience on a deeper level.
Consider A/B testing, a popular method used to test variations of themes. While it's deemed effective, it's essentially just a game of figuring out "WHAT DOES BETTER." The emphasis is on improving rather than understanding the root cause of why something doesn't resonate. To truly elevate CRO from the average 2-3% to a whopping 10-15%, brands need to offer value that's enticing, priced right, presented appealingly, and either in high demand or limited supply.
Let's delve into a hypothetical scenario to illustrate this:
Imagine a product priced between $20-100, something consumers would buy repeatedly without any restrictions on frequency.
Scenario 1: One advertisement is shown to 100 different people, once a day for 100 days. The goal? Gauge how many of these 100 individuals make a purchase.
Scenario 2: A more tailored approach. An A/Z test, where 100 different iterations of the advertisement are shown to just one person, once a day for 100 days. Here, the objective is to understand the purchasing behavior of this one individual when exposed to various ad versions.
Comparing the results of these two scenarios would provide invaluable insights. The first scenario measures the power of volume, while the second dives deep into personalization and iteration.
In the first scenario, the brand gets a broad understanding of what resonates with a larger audience. It's the traditional approach, casting a wide net. However, the second scenario, though focused on just one individual, offers a depth of understanding. It reveals how slight changes in presentation, wording, or imagery can influence purchasing decisions. It's a deep dive into the psyche of the consumer.
In essence, while the first approach gives breadth, the second provides depth. Both are valuable, but in different ways. The key takeaway? It's not always about more eyes; sometimes, it's about understanding those eyes better.
To brands navigating this complex landscape, the message is clear: Don't just chase volume. Strive for a deeper connection. Tailor your approach, iterate, and understand your audience. In the long run, a brand with a thousand faces, each tailored to resonate, will always stand out in the crowd.