What is a conversion rate?
The percentage of potential customers, who take the exact action you want is called conversion rate. On your website, those may be visitors who will:
– Buy your product or service
– Fill out a form
– Call your company
– Send an e-mail
– Submit a proposal
Increase your conversion rates to improve profits
No matter how good your conversion rate seems at the moment, it can always be better. And improving your conversion rate will lead to an increase in profit. Let me give an example:
If you spend 1000$ on advertising, you might get 1000 potential customers on your website. If your current sales conversion rate is about 5%, you may generate 50 new customers. If your rate would rise to 6%, you would have about 60 new customers. Without additional advertising costs, you would have 10 more buyers and increase your profit.
How to increase your conversion
1. Get social evidence.
Adding customer testimonials, reviews or case studies about your product or service will increase your conversion easily.
2. Provide contact information.
Presenting your contact information, like phone numbers or live chat options, gives visitors the impression that your company is real and open for questions or feedback. Therefore your conversion rate will increase.
3. Increase credibility.
Getting ‘trust’ seals from companies like Better Business Bureau or web security companies like Norton, will always help your conversion rates to go up.
4. Offer guarantees.
Your customers will gain more confidence in your offer if you implement some sort of guarantee for your product or service. Furthermore, the longer your guarantee lasts (1 year vs. 1 month), the more conversion you will achieve.
5. Improve headlines.
Your website’s headlines are usually he first thing visitors read when they enter your page. They also decide if your potential customers will stay on you site or exit quickly. Good headlines can massively increase your conversion rate, so you should test new headlines regularly.
6. Aim for time investment.
When it comes to bigger purchases, the more time a potential customer invests in the process, the more likely he is to buy the product in the end. So before you set a price immediately, it often helps to have a few conversations first. Get to know your customer’s needs in the first talk. Offer some helpful further information/research in the second. In a third conversation you may propose an offer to your client. This process would lengthen the sales cycle, but it would also get your potential customers to spend more time being involved with your company. They will learn that you are doing a good job and end up working with you.
7. Track your conversion rates.
In order to detect and correct problems with your conversion rates, you have to track them and stay on top of what’s going on. You should do this daily and monthly, so you can quickly fix short time issues and follow how your conversion rates improve over time. Conversion tracking tools like guiding metrics are very helpful to professionally control metrics and increase your profits.
Improving your conversion rates is a key factor when it comes to rising sales and profits. Figure out your company’s most important conversion factors and start tracking and improving them today.
If you need help with your website building or the improvement of conversion rates, feel free to contact us anytime.