The quickest way to improve your business’s profitability is by improving conversions from your existing enquiries. The choice between doubling your advertising spend or doubling your conversion rate is simple; More sales and leads at half of the cost, rather than more leads and sales at twice the cost.
Additionally, you can optimize your conversions so that you have better quality leads and customers that purchase from your business. Here are a few ways you can implement conversion rate optimization and have it benefit your business.
Web page loading time
Many website owners don’t realize how much their website’s loading time affects their overall site conversions. Amazon has said that they will lose up to $1 million for every additional second it takes for their website to load.
Assess the speed of your website by using Pingdom Tools or Google’s PageSpeed Insights. After you have run your web pages through the tools, take action to get your web page’s size to 1MB and configure the technical backend so that it is optimized for speed.
Also referred to as an opt-in bribe, it is a great way to generate more sign-ups on your website. The opt-in should then be promoted across the website in the form of pop-up banners, drop down boxes, scroll boxes, exit pop-ups or even ads on the website.
The look and feel of your website is extremely important.
First impressions last; You don’t want to develop a website that has the potential to convert, only to have people navigate away because they don’t feel comfortable with the ‘look and feel’ of the site.
Ensure that your website theme appears clean, simple and professional. One pixel that is out of place or the wrong colour scheme can easily deter visitors from trusting your website. Also ensure that you choose a theme that provides a user-friendly landing page design.
You want to have people engage with your website as much as possible, and the only way they will do that is if they find the content that is on your website valuable. Invest in creating sales copy, blog posts, infographics, images and videos that will compel people to engage with your website.
Get more referrals
You can get more referrals by encouraging people to share your web content. You can easily do this by installing social sharing buttons for people to share on Pinterest, Twitter, Facebook or email.
You want to run marketing campaigns that focus on your niche audience, so that you can avoid wasting money on advertising and resources. For example, if you are a company that sells protein powder to male body builders, you don’t want your promotional efforts to focus on people outside of that target market.
Optimise your sales funnels
Optimising the CRM funnels for your business will allow your business to convert more sales over the long-term. This might require the business to invest in email CRM software such as Mailchimp, Convertkit or InfusionSoft.
Alternatively, it might involve using a sales CRM like Pipedrive, Salesforce or Hubspot to track the sales funnel and identify any bottlenecks that might be preventing sales conversions. By tracking your sales funnels, you will be able to identify and understand how well your overall marketing and business development is progressing. Improvements can be made to the areas that are underperforming.
If you want to ensure that your business will succeed and perform above expectations, then you must prioritize conversions. Ensure that you have a system in place where conversions can be tracked accurately and that improvements can be made and tested regularly. Over the course of 12-24 months, the business should start seeing significant changes to the overall profit.