You run a factory. Put a new product in production and come back 3 years later to see how it is doing. Right or wrong?
You manage a sales team. Start them off with clear goals and objectives, then 3 years later check in to see how they’re progressing on their goals. Right or wrong?
You have retail locations. You put store managers in place and come back 3 years later to see how the stores are running. Right or wrong?
You launch a new website and come back 3 years later to make improvements. Right or wrong?
You probably haven’t thought of it like that. That’s OK, because that makes you the typical business manager. Most think exactly like that. But you know you don’t want to be typical. You want to be differentiated. You want to stand out as a leader in your industry. You take action to run your business well for profit and productivity.
The missing piece in your tool chest is Conversion Rate Optimization services. That may sound like a mouthful, but what it entails is simple.
Conversion Rate Optimization is:
- Applying science to your website
- So more people buy more of your stuff
- And you make more money
Another way of thinking about it is yield-optimizing your website. You get more leads or sales per visitor, so you get more yield per visitor. Just like a factory manager is continuously working on yield improvements, you should be continually optimizing your website to get a higher percentage of visitors converting to leads or customers.
By the way, the rate of visitors who convert into leads or customers is called the conversion rate. Improving your conversion rate has a higher ROI than sending more traffic to your website.
Conversion Rate Optimization Services
This makes sense, but you are already swamped with your current tasks. There is no way to add something else to the heap. You shouldn’t. You want an experienced conversion optimizer working on this problem for you. Here’s an example: Google has hired at least 3 different conversion rate optimization agencies to help improve its own conversion rates. Part of what makes Google savvy is recognizing where they need outside help. Are you more web-savvy than Google? If not, then why wouldn’t you consider hiring a conversion optimizer?
Here are some of the things that happen in a Conversion Rate Optimization service:
- Deep dive into your Google Analytics data to understand WHAT visitors are doing on your website
- Live behavioral study tools installed on your website to understand WHY visitors are doing what they are doing
- Hypothesis generation of ideas that will increase the number of visitors who convert into a lead or sale
- Ranking of hypotheses to prioritize ones that intersect at highest probability & highest payout
- Scientifically valid construction of tests to test hypotheses
- Controlled and measured execution of tests
- Analysis and interpretation of test results (including statistical significance)
- Rinse & repeat – execution of next round of hypothesis testing
That sounds like a lot of work, but what legitimate marketing effort is easy?
ROI of Conversion Rate Optimization Services
This is your opportunity to be differentiated, to be an industry leader. Conversion Rate Optimization has an incredible ROI. Consider this example. The average website has a 2% conversion rate and you decide you want to double sales.
You can either:
- Convince only 2 additional people out of 100 to engage on your website
- Pay to try and send twice the traffic to your website
The problem with sending more traffic is that demand is finite. There are only so many people that want your product or service. You may not be able to double sales by doubling traffic due to limitations in demand. Even worse, you don’t want to use your website to educate your visitors only to have them buy from your competitor.
Convert more of your current visitors into customers. Over the next several years you are going to hear more and more companies adopting ongoing conversion rate optimization services. Be the leader that shows how it’s done in your industry and enjoy the profitability that goes with it.