Increasing conversion rates is what every business wants. Now what exactly are conversion rates? Conversion rates are the percentage of potential customers who take a certain action that you want. Here are some examples of conversion rates that some business may track:
- The percentage of website visitors who took action on your website or the number of purchases and phone calls made to your company.
- The percentage of potential customers from phone calls
- The percentage of proposals you win
- The list goes on and on
Increasing Conversions Can Improve Overall Profits
There’s always room for improvements in relation to conversion rates. You could have great conversions, but you can always do better. Making improvements of conversion rates dramatically improves profits. A good example that demonstrates this would be if you were to spend $1,000 on advertising, you could possibly bring in 1,000 potential customers to your website. If your online sales conversion rate were 5%, then you would be guaranteed 50 new customers. However, if improvements were made to your conversions and went up to 6% you would secure 60 new customers. Small improvements can make a huge difference in the grander scheme of things. In this example you would gain 10 new customers without any additional advertising costs, which increases your profits significantly.
How to Increase Your Conversion Rates
There are many ways to increase your conversion rates. Below I have listed some ways to do just that.
Increasing Your Online Conversion Rates:
- Visible Contact Information: making sure that you are displaying your contact information, whether it be a telephone number or links to social media, typically this helps to increase conversions. This gives visitors confidence and reassurance that your company is “legit” and their questions can be answered.
- Social Proof: creating profiles on social media allows your customers to view your testimonials/case studies. Inevitably, this helps increase conversions. If customers are able to see proof that your services are being recognized, that will make it more likely for them to convert.
- Credibility: ensuring that your website has “trust” seals will always bring in conversions.
- Headlines: these are typically the first things that your potential customers see. Making sure that they are creative and catchy allows customers to remember your site. First impressions are everything. Having the perfect headline can drive traffic and increase your desired conversions.
- Guarantees: offering a guarantee to your customers gives them more confidence in your business. Having longer guarantees will normally increase your conversions.
Increasing Your Offline Conversion Rates:
Most of the same techniques that are sued to improve online conversion rates should be used offline. Simply showing pictures and testimonials will definitely increase your conversions. Most people are persuaded by visuals, so displaying your credibility and success can only benefit your company.
- Trial Closes: These are questions that you ask your potential customers that don’t necessarily ask for a final buying decision. Accommodating and negotiating to the customer’s needs can influence their final decision.
- Make customers invest time into your business. When customers are making bigger purchases, there is more time invested into your company. The customer wants to make sure they are making the right decision, which involves time and research. Instead of having quick pitches and conversions, it’s better to have a few conversations and make it natural. First learn about the prospective customers needs and wants. Following that then you can lead with your research and possible information they may perceive helpful. Lastly, you can present your proposal and show them that you are willing to work together.
Make Sure to Track Your Conversion Rates
It is vital to remember that in order to improve your results you need to keep track of them. You can’t fix what you don’t know. Tracking your results on both a daily and monthly basis allows you to find and correct your problems. Your conversions rates are so important in relation to your sales and profits. So make sure that you are constantly making improvements to increase the success of your company.