It’s not enough to have countless people flooding your website if no one is purchasing what you are selling. Improving conversion rates should be a continuous, ongoing process as it can either make or break a marketing career.
Here’s an example of how only a few minor steps taken to improve conversion rates can lead to big earnings…
You have 2 sites. Site “A” receives 4,000 monthly views, but is not fully optimized for a solid conversion rate, so only 5% of viewers purchase your $49 product. For those that are not mathematically inclined, that comes to a total of $9,800 in earnings a month (not too shabby).
Site “B” on the other hand, only receives 3,000 monthly views, but is optimized slightly better than site A. It converts 8% of viewers for the same $49 product. This comes to $10,290 a month.
As you can see, with only a few minor tweaks, a site that receives only ¾ of the traffic as the other site, can generate almost $500 more a month. This equates to $6,000 more a year! What would happen if they both received the same amount of traffic? Well, Site B would produce $15,680 a month (over $5,000 a month more than Site A) just by focusing a little more effort on improving conversion rates.
Obviously, an 8% conversion rate is relatively high, but not impossible if the proper marketing parameters are put in place in order to ensure that all of the traffic received is highly targeted.
Enough math, let’s take a look at what methods you can easily apply to improve the number of sales you receive.
Optimize Your Sales Funnel by Plugging Up Potential “Drop Off” Points
Drop off points are the specific pages that potential consumers fall through the cracks and lose interest in making a purchase. If you are using email marketing to entice potential buyers to purchase your product, perhaps there is an email that receives fewer click throughs then the rest. This would be a drop off point.
What are the needs of your target audience? Does every page that you show to your target audience align with the message that you’d like to resonate with your audience? Are you providing what your viewers are looking for? Use your analytics to find where people are losing interest and fix it.
Offer a Money Back Guarantee
Consumers are far more likely to make a purchase if you decrease the amount of risk on their part. By offering a money back guarantee, there is virtually NO RISK for them as they can always have their payment returned if the product/service is not as advertised.
Unfortunately, there will be the occasional serial refunder, but if you are confident in your product/service (which you should be) than you will see your overall revenue grow.
Improve the Buyer Experience
Make things as easy as humanly possible for them to peruse your site, find what they are looking for, and enter their payment information. You can do this by adding clear and concise directions to easily lead them from point A to point B. It may seem silly to you to place directions such as “click here” above a payment button, but it may make all the difference in the world to the consumer.
Other options are to improve the speed of your site and to also ensure that it loads effectively on all platforms, including mobile devices. KISSmetrics did a case study in 2011 that revealed that 40% of viewers abandon a site if it takes longer than 3 seconds to load.
Show Social Proof
People are more likely to make a purchase if they see verifiable proof of your claims. After all, if your product/service is as good as you believe it to be, your claims should be rather bold to begin with. So, having proof such as testimonials, screenshots, or videos will help erase any skepticism that the potential buyer may have.
Have a Single Page Checkout
There’s nothing worse than losing a customer because of something as silly as having an extra page added in where it doesn’t need to be. Statistics have shown that a common drop off point is the checkout page as some consumers either back out from cold feet or are rushed. By expediting the checkout process as much as possible, you can dramatically minimize the amount of drop offs.
Emphasize the “Pain Points”
Every consumer has a problem. They are looking for someone to help ease the pain of their problem. For instance, a viewer that is interested in internet marketing products may be searching for financial freedom or the ability to control their work environment. Make a strong effort to connect with the viewer in a way that makes them think about their problem and relive the unnecessary pain that they are feeling.
Here’s an example. If you are selling Forex products, then it is obvious that the target audience may need help generating an income through Forex. Perhaps they’ve tried, but failed miserably. Perhaps they have lost money through poorly executed trades in the past. Point this out to them and show them how YOUR product will make all of their troubles go away by giving them a fool proof plan to initiate their first successful Forex trade. This is just an example, but you get the point.
These are only a few methods that can improve conversion rates. There’s no harm in testing, testing, and testing again, to find what works best. If you have an original idea or want to share how you improved your site’s conversion rate, feel free to leave a comment below!