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Even a slight increase in conversion rate by 5% can generate millions of dollars in website marketing business! Did you know that?
A high performing conversion rate is always a dream come true for most web marketers. If you are handling a competitive website, you are also not devoid of this top-of-the-mind New Year thinking that has already started giving you sleepless nights about:
Well, it is obvious that these thoughts are enough to haunt web marketers who constantly strive for optimization techniques proving them to be as impressive as the competitors. Conversion rate optimization being the primary factor of generating site revenue is, however, based on individual conversion goals. Probably, your conversion optimization program needs more research and analysis to churn out innovative experiments and techniques that propels your website sales funnel.
But before that, make sure what conversion rate optimization actually IS.
To put it simply, conversion rate optimization is the way of improving site effectiveness with the same amount of visitors you get for conversion. Here, you are NOT driving traffic but you are optimizing site effectiveness to convert current traffic into sales. Here, your marketing efforts are focussed on two important parameters:
Conversion rate is NOT about
Let us assume that your website goal is to increase sales by 50%. There are numerous marketing strategies such as advertising, content updating, SEO, PPC are available. But most of them run the risk of excessive expenditure than profitable business gains. A faster and cheaper method to earn a quick gain is achieved through lifting conversion rate.
Even if your current conversion rate which is 2% shifts to a tad higher to 3%, it is actually equivalent to 50% uplift of conversion results!
Keeping this in mind, here are 5 essential conversion rate optimization techniques that can significantly impact the performance of website and double up conversion rates. Here’s how to do it:
Run a 15 minute usability test to identify the navigation flaws in critical tasks that are not functioning appropriately over the smartphone/desktop. Spotting the barriers that hinder users from interacting and monitoring behavioural patterns closely can provide insights on user experiences of the website. As you are not the customer, it is best to ensure that no pain is involved within their task completion that can steer them away from your site.
One of the most reliable and powerful way to boost conversion rates is A/B testing or Split testing. This lets the visitors interact with two versions (A&B) of the same website that incorporates site changes- a bigger headline, a decent image, stronger and shorter CTA. What next? How will you know what is the exact reason behind an increase in conversion rates? Well, let the elements of differences between version A & version B automatically figure out the clear winner.
Why should a prospect necessarily buy from you? It is NOT enough for marketers to let customers know about “what’s in it for me”, but “why to buy from you”? There must be a clear differentiation from your competitors about the dimension of value you offer to your customers. Given the fact that you might match your competitor regardless of what they are offering, except one that keeps you uniquely apart from the rest of the crowd. Make that your key element of value for the buyer that resonate your ideal prospects. However, testing continuously is important to maintain refined effectiveness of your unique value proposition.
It is no surprise if prospects find it difficult to trust your website. It never happens automatically. Testimonials are a great way to implant confidence within them and cultivate trust about your services. This is an incredible way to increase traffic and boost conversion rates to your site. Featuring active customers who are happy about past dealings can provide excellent compelling results of gaining new customers and businesses.
Sometimes merely asking for a sale might kill the entire marketing efforts ending up losing a potential customer in vain. Often, prospects might just casually browse over the website looking for more information rather than immediately converting. Remember, this is the stage prior to sale. That doesn’t, however, denote that they are psychologically convinced for making a sale. The probable reasons being either your product quote is too expensive or it is too complicated for the customers to understand for which they need more time. At this juncture, a demo or a free trial can bring a significant boost in conversion rates. All it takes is to build the right sales funnel to cultivate trust by nurturing interest & awareness and then move them up to the next stage of the sales ladder for a sale.