Increasing sales and leads from a website is a constant topic for business owners and marketers. There is a lot of information out there that can be confusing and misleading. To help overcome the many misconceptions, we’ve created a list of five points based upon our experience and knowledge.
Your conversion rate is the most important metric to your online business
Without sales or leads your website is not successful. Your conversion rate is the key to growth, you can get all the traffic you want to your site but if it doesn’t convert this could be marketing budget down the drain.
Industry standards do not exist
Everyone wants to know if what they’re doing is right. We like to be able to make comparisons to give us an indication of our success. Unfortunately, each business is different. This includes businesses within the same industry and sector, as a customer base can vary dramatically.
Numerous factors affect conversion rate including, but not limited to: traffic quality, marketing quality, brand affinity and website usability.
There are lots of reports on industry standard conversion rate and we recommend taking these in context. Many of these reports use big companies with lots of brand affinity and dominance in the market, inflating the data.
Making changes to your website without testing could be hindering your growth
The number of changes a business makes to their website can vary dramatically as it is dependent on individual circumstances.
Changes typically fall into two categories – necessary changes and subjective changes. Necessary changes are updates such as pricing or changes to your product or service offering. Subjective changes are everything else, such as changing the colour of a button or the size of text to “improve the usability”.
Without testing these subjective changes there is no way of knowing if they have improved sales or made things worse. This makes progress a lot harder to achieve.
You need structure, process and expertise to maximise conversion rates
Testing changes on a website will increase the chance for success, but this needs to be done in a scientific way. With the right process and structure this can be hugely effective.
Add to this an understanding of human behaviour and consumer psychology and you are on to a winner.
Essentially, don’t make a change without having a process in-place for testing the impact of it. In addition to this, question why you want to make a change before you do so.
Everyone focusses on increasing traffic, but by improving your conversion rate you can be one step ahead of your competitors.
The digital industry focusses heavily on generating more traffic to websites and not nearly enough on converting it. By creating strategies around CRO and A/B testing within your business you can stay ahead of competitors.