4 strategies to increase conversion rates

4 strategies to increase conversion rates

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There is no doubt that conversion rates are important to the success of any business. After all, a business can’t make money if its potential customers don’t convert into actually paying customers. But what many business owners don’t realize is the impact meeting conversion goals can have on the bottom line of your business.

Consider this: If your business has a 1% conversion rate and you make $1 million a month, increasing your conversion rate by just two percentage points, up to 3%, means you’ll make another $2 million every month. month. That’s an extra $24 million a year!

Of course, increasing your conversion rate is easier said than done. But it’s certainly not impossible. Here are some tips to help you increase these numbers and reach your full revenue potential:

Related: 5 Key Tips for Improving Conversion Rates

1. Perform regular funnel analyses

Funnels can be really simple (ad, sales page, delivery email) or incredibly complex (several ads leading to segmented landing pages leading to a sales call leading to… well, you get the idea) . At any stage in the process, your funnel either loses people or advances them to the next stage.

If you don’t regularly perform a funnel analysis, usually called an audit, you could be losing revenue which could be a game changer for your business. Let’s look at a simple evergreen webinar funnel with a “buy now” option for a $1,500 offer as an example. We’ll keep it super simple and assume you’re just emailing your existing list directing them to the webinar registration page. Your funnel looks like this:

  • E-mail: 50% conversion

  • Registration page: 15%

  • Web seminar: View rate of 20%.

  • Order conversions: 0.67%

With the above conversion rates, you’ll get $1,500 or one sale.

Your email is converting really well, so we don’t need to do anything with that, but the sign up page? Don’t be so hot. We want that number to be 25% or higher, so we’ll optimize the signup page.

This could mean changing the copy, design, images, even the offer itself, until we hit our goal of a 25% conversion rate on the signup page. All things being equal, increasing your conversion rate on the signup page alone earns you another sale, taking your revenue for this funnel up to $3,000.

By working each stage of the funnel like this, you could go from $1,500 to $28,500, just by hitting the minimum conversion rate in each stage of the funnel!

2. Make sure your website is optimized for conversions

Your website is often the first point of contact between you and a potential customer, so it’s important to make sure it’s up to par. Is your site easy to navigate? Do the pages load quickly? Is the text clear and concise? Is there a strong call to action on each page?

If you answered “no” to any of these questions, it’s time to do some website soul-searching. Making even small changes, like adding testimonials or improving your calls to action, can make a big difference in terms of your conversion rates.

Related: 5 tactics to boost your website’s conversion rate

3. Segment your mailing list

When it comes to email marketing, quality is more important than quantity. Sending a generic message to your entire list is likely to result in few conversions because not all recipients will be interested in what you have to say. Segmenting your list allows you to send more targeted and relevant messages that are more likely to drive conversions.

Not sure how to segment your list? Start by dividing it into smaller groups based on factors like geography, age, gender, interests, etc. Then create different messages for each group.

4. Personalize the user experience

In today’s competitive market, simply having a website isn’t enough – you have to go beyond that to stand out from the crowd. One way to do this is to personalize the user experience for each visitor to your site.

Thanks to advances in technology, this is easier than ever. There are now a number of tools available that allow you to collect data about each user and then use that information to display content tailored to them.

Related: Why a “personal” customer experience is critical to your business’ success

Meeting and exceeding your desired conversion rate can have huge implications for your business’ revenue. If you’re not happy with your current numbers, take heart; there are many things you can do to improve them. By following these four tips, you can start making progress towards those all-important conversion goals.

#strategies #increase #conversion #rates

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