Conversion Storytelling: How to Maximize Your Customer Lifetime Value

Conversion Storytelling: How to Maximize Your Customer Lifetime Value

Marketers looking to increase their conversion rate usually approach the process incorrectly. They identify discrete elements, such as hero image and CTA. They make changes on their pages. They hope these adjustments might result in increased conversions. 

But using a more holistic approach is more effective for driving conversions. It also helps your process for improving your landing pages and deciding what elements to adjust. 

If you’re scratching your head trying to figure out what kind of tests to run, it may be your strategy that needs a fresh perspective. Use conversion storytelling to craft experiences that will resonate with your visitors. Your rewards will include higher conversions, stronger brand loyalty, and increased customer LTV.

What is conversion storytelling?

Conversion storytelling is the practice of designing highly personalized narratives and experiences that build robust relationships between brands and potential customers. It consists of developing and delivering persuasive micro-stories to visitors from your ad campaigns. 

Instead of delivering one homogenous narrative to your various audience segments, wouldn’t it be more effective to tell your story in varied and compelling ways? Here are a few examples:

  • Modifying by what keywords people have searched for
  • Framing how a product is better than another option customers are used to
  • Presenting an aspirational view of what is possible
  • Showing how you can simplify a tricky process
  • Portraying different perspectives based on persona

Crafting distinct narratives enables you to deliver relevant experiences at a granular level. This strategy drives an emotional connection between your brand and your visitors. These potential customers are not only more likely to convert, but also end up having a lasting positive impression of your brand. 

As your digital advertising relevance increases, you’ll enjoy the benefits of higher conversion rates, stronger brand impression, and higher customer LTV.

How is this different from the traditional approach to digital advertising?

Most marketers are not connecting with potential customers at a human level. Their approach is to prioritize conversions and view the process through the lenses of design and testing, rather than using a holistic storytelling approach. Others are sending visitors to homepages and non-specific product pages, resulting in impersonal and non-specific experiences.

People-focused

People are more likely to engage with your content when you deliver an experience they can identify with. But it’s not enough to plug in demographic information and bucket them into large groups. You need to understand their desires and motivations. You must use psychographic data and speak directly to who they are as a person. 

A study first done by SITRA and modified by One Earth broke down people’s motivations into several profiles. Two examples include Tribal Follower and Resourceful Eco-Warrior. For example, when targeting a Tribal Follower, you’d likely see positive results delivering a narrative related to joining a popular trend. However, with an Eco-Warrior you’d probably be better off serving content that relates to your product’s sustainability. 

Not design-centered

When improving digital ad conversions, marketers traditionally focus too much on landing page design. Unless you have grounded your design initiatives in an engaging narrative, these efforts usually fall flat. 

Brands are currently stuck in a limiting mindset because they prioritize design. Of course, this isn’t to say that design doesn’t play a pivotal role. But conversion-centric narratives should be the chief driver of your design choices. 

Branding agencies can charge exorbitant amounts for designs and pages, but without an associated narrative, it’s all flash and no substance. Instead, you need to start from scratch and create your storytelling strategy. Then, develop the micro-stories that will resonate with your distinct audiences. Finally, build your experiences with a conversion-centered design that supports your custom narratives. 

Less emphasis on A/B testing

Marketers also place excessive emphasis on A/B testing. While A/B tests are useful, you should ground them in hypotheses that relate to your conversion stories’ effectiveness. After all, storytelling is more than headlines and button text. So, why would you run your A/B tests on these individual elements alone? 

Micro-stories are persuasive, emotionally connected stories of value for a granular audience. When an A/B test measures the success of a change that improves the delivery of your micro-story, you’re much more likely to see impactful results. 

More effective landing pages

Many brands are still not using landing pages to deliver relevant, personalized experiences. Instead, they steer visitors to generic homepages or product pages. These experiences fail to connect at an emotional level. Likelihood of a conversion suffers, as does the visitor’s impression of the brand.

Another mistake marketers commonly make is sending all their traffic to one landing page that doesn’t tell a story. We often see marketers spend large amounts of their ad budgets on campaigns, but they overlook the step where the conversion happens. Taking time to segment your landing pages is just as crucial as dividing your target audience into ad groups. 

Why is conversion storytelling superior to other approaches?

Conversion storytelling plays a crucial role in increasing your digital ad relevance. When you craft distinct and compelling narratives for individual audience segments, you increase the chance of a sale or conversion. 

Our 2021 State of Ad Personalization Report revealed that 95% of the trailblazers pursuing advanced personalization met or exceeded their revenue targets. Conversion storytelling can lead to significant wins for your shorter-term revenue goals.

Conversion storytelling also has positive lasting impacts on your business’ long-term goals. Our report found that those pursuing advanced personalization won brand loyalty as a result of their personalization efforts, which could translate into a higher customer lifetime value. 

By consciously deciding to focus on building stronger narratives and relationships with your customers, you can see significant outcomes. Our report found that marketers motivated by stronger customer relationships saw a significant increase in marketing-spend efficiency, while those motivated by increased purchase intent and revenue did not.

Highly personalized narratives do more than convince a potential customer to buy. They spark an emotional connection. These experiences build lasting relationships with your customers. It helps them feel seen, known, and understood. 

When brands speak to people as human beings rather than data points, they respond positively. They remember the experience. They remember the brand. And they keep coming back.

Conversion storytelling improves conversions and customer relationships

Conversion storytelling benefits everyone involved. Your visitors receive a personalized and meaningful experience that resonates. Your rewards include higher conversions and stronger brand loyalty. By taking a holistic approach to your digital advertising efforts, you can benefit your short-term and long-term revenue and brand goals. 

Most marketers aren’t taking advantage of conversion storytelling because they don’t know where to start. If you’re curious what a robust conversion storytelling strategy would look like for your business, request a complimentary conversion analysis today

Michelle Chang
by Michelle Chang

Michelle Chang is a content writer at Postclick. She is passionate about storytelling, effective messaging, and strengthening alignment between sales and marketing. When she’s not drafting blog posts, she is likely re-watching a Scorsese movie or planning her next meal.

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