Despite having a respectable position in the SERPs and excellent user traction to your site, you are unable to garner adequate revenues that channel your accomplishments in SEO. The fundamental variable for lack of profit generation is a low conversion rate.
The conversion rate of a website is the percentage of incoming website traffic that successfully performs the intended action such as purchasing a product, downloading a service, sharing contact information, clicking an ad etc-basically, any specific action that propels prospective customers into the next stage of buying or compels them to make the purchase.
An aggressive online marketing campaign is futile without a notable conversion rate; however, the conversion rate can be boosted without further investments in the advertisement campaign, thereby improving your profits substantially. Here is what you can do:
Customers need to develop trust in your company before they can buy from you, especially if it is your startup endeavor. Authentic reviews about your offerings and how they solved your customers’ problems are important factors which can help build trust.
Your relentless marketing campaign helps customers notice your product or service, but previous customers’ seal of approval in the form of honest reviews can be the final push towards conversion.
Studies show that almost 84% of the customers regard reviews equivalent to personal recommendations. Moreover, customers purchase 31% more from businesses that host outstanding reviews. Positive reviews also establish trust in the local company according to 74% of the customers. Therefore, prompt your loyal customers to leave a review.
You can also increase the credibility of your product or service by mentioning acclamations from third-parties, for example citations and testimonials from prominent clients and articles published in popular blogs. Remember to provide helpful links to these sources on your website.
Finally, offering long-term guarantee increases the confidence of your prospective clients in your product and consequently, increases your conversion rate.
If the customers follow the path down the sales funnel successfully only to abandon the conversion process at the checkout page, you need to uncomplicate the process of buying from your site.
To begin with, simplify the process to be completed in a few clicks. Do not include unnecessary links down the conversion route that might distract the consumers from the intended purpose. If there are other navigation links on the page, make the next step to be taken most prominent and self-evident.
Avoid asking the customers to fill in the lengthy sign-up forms to purchase your product as this can be a major turn off. Almost 26% of the potential customers abandon the purchasing process after adding items to the carts owing to the compulsion of registering to buy.
Always provide an option to check out as a guest to ease the buying process. 80% of top US retailers offer guest checkouts.
Finally, offer a variety of payment methods. While it is inconceivable to provide all the payment options available, a quick survey of your target audience should give you an approximate list of the most favored payment methods.
If you are not generating sufficient profits, it is time to review your value proposition. A business’s value proposition is the most integral part of its overall identity. It defines the essential elements of your business which sets you apart from your competitors and also emphasizes on the benefits of using your products.
Therefore, if your value proposition is either a meaningless catchphrase or does not exist at all, you should immediately focus on constructing a unique value proposition; one that defines why the potential customers need to buy from you and not from your competitors.
Moreover, the value proposition should be in layman terms that outline your message and speaks to the prospective customers. The modern users are astute online shoppers who can immediately see through a weak value proposition hidden under the elaborate text.
Another critical factor that influences the effectiveness of your value proposition is its positioning. The value proposition should be highlighted and placed on all the entry points of your website in addition to the homepage. Since it comprises your unique selling point, it should be the first thing that the inbound users encounter, influencing them from the get-go.
Your website needs to undergo periodic evaluation to optimize the conversion rate and to ensure it is yielding the desired results.
A/B testing is a great tool to evaluate the changes you implement and the new content you incorporate into your website. It gauges an approximation of the audience’s reaction thus significantly reducing the risk associated with experimenting something new.
The process involves the examination of alternate versions, for example, two versions of the same page, two alternative headlines for the same content or comparison between the old and new, to determine which option produces more conversion. The tool directs an equal number of users to both options to assess which one converts more users. The one with the highest conversion rate can be integrated into your website.
SEO auditing is another tool which can help identify the search engine friendliness and the overall current state of your website. A thorough SEO audit enables you to determine the reason behind a low conversion rate, for example, a long page load time, broken navigation links, duplicate content, etc. In addition, it also provides you with actionable insights on how to resolve the issues to boost your conversion rate.
Have you heard of the phrase “impulse buy”? When you offer time-sensitive incentives or exclusive discounts to the first few customers, it creates a sense of urgency compelling the users to make snap decisions which are often in favor of the business.
However, the offerings should be worthwhile because you need to garner a loyal consumer base instead of a bunch of one-time buyers. If you compel your customers into making the purchase but do not offer value for money, you will not only lose precious customers but also harm the reputation of your company. Therefore, tread this path carefully and only if you think you can provide authentic incentives.
A productive marketing campaign consists of increased user traction and a high conversion rate. Hence, to achieve satisfactory revenue generation, you need to implement a meticulous strategy to keep the user appropriately engaged throughout the conversion process and to avoid abandonment of the path at any phase.