5 Website Conversions: How to Turn More Visitors into Customers-Part 1
5 Website Conversions: How to Turn More Visitors into Customers-Part 1
Recently the Amadeus Consulting team hosted a Roundtable breakfast for the Business Marketing Association in order to discuss a very timely and important topic; Website Conversion: How to turn more visitors into customers. Our own Search Visibility Manager, Monica Valdez created and spoke on the topic; Now that you have driven people to your website, how do you get them to be customers?
We thought this was a fantastic discussion and training program, and many people felt they had a solid grasp on the next-step action items they can take to get more customers through their website. As a result of its success, we wanted to pass along this information to you.
Because it is a rather extensive topic, we'll break this up into two recommendation posts. Stay tuned for part two of this discussion in a few days.
Let's back up the topic a bit and start with,
What is a conversion? What is the purpose of my website?
To get to the root of these questions, here are some diagnostics to determine what users are after when they reach your website.
What actions do I want my visitors to take? (Purchase products, read more information about my company and services, or fill out an inquiry form?)
How will I measure this action when it takes place? (Through sales numbers, page visits or inquiry leads)
How can I improve on what is working, and how can I be more effective?
The last question will be the basis of this discussion, to give you the user the tools to discover how to find out what works for your website, and how to take the steps to make it more effective (i.e. more customers).
Online Marketing Effectiveness
Because online marketing effectiveness (increasing revenue while maximizing ROI) is a long-term strategic endeavor often involved in larger business goals, this advice will help you plan those objectives moving forward. It is important to note that some aspects can be implemented faster than others, as some actions show results sooner than others. This is the tortoise vs. hare scenario.
Increasing Revenue
There are only three ways to increase your revenue and grow your business through your website, so the focus of implementations and improvements will fall on these three areas:
Increase your conversions (Through activities that include Usability, Technical Performance, Sign-up Processes, Landing Page Optimization)
Increase the number of visitors (Through activities that include SEO, PPC, Referral Partners other advertising)
Increase the value of your conversions (Through activities that include User engagement, User experience, Account Lifespan, Revenue per Acquisition)
These are the targeted areas of your website and advertising campaigns that can specifically improve the visitor to customer metric. Let's take a look at specifically how these can impact your bottom line.
In the scenario, your website would be generating $15,000 a month in revenue, or $180,000 annually.
Now the impact of increasing conversion, going from 2 to 2.5%
While it doesn't look like much on paper, what this translates to is an increase of $19,000 (vs. $15,000) a month in revenue, or $228,000 (vs. $180,000) annually. That's nearly a 27% increase in incremental annual revenue through improvement in one conversion area.
The next thing you need to consider is how you will increase your lead conversion while maximizing ROI and maintaining or improving other conversion rates. Because it is specialized, you'll often need to hire a partner that specializes in conversion rate optimization solutions to do the work to ensure goal driven and tangible improvement. The next question of course is: How much will this strategic marketing and search consulting cost?
Strategic Marketing Cost
It is likely that the strategic marketing cost will include both internal and external resources. Putting aside internal resources, let's say that your company will incur an additional $2,000 per month in external resources.
The monthly cost-benefit (ROI in this example) is calculated by taking the monthly incremental value $4,000 minus the incremental marketing cost $2,000, meaning at very least, it added a $2,000 value to your company. In other words, over time your effectiveness is outpacing your spend.
Monthly Cost-Benefit (ROI) = (Incremental Value) - (Incremental Cost)
The best part of this example is that it doesn't even take into account the added benefit of two other areas of revenue generation:
Increasing the number of visitors
Increasing the value of your conversions
Now that we've established the value of adding search visibility to the strategic marketing equation, what is the process that someone goes through to increase customer acquisition?
If this were a Season Finale of a TV show, this is where they'd present the cliff hanger, making you wait until the next season to answer all your questions. Don't worry; we won't make you wait that long, stay tuned for our second part of this blog that will give you the customer acquisition process flow, in a few days.
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