Have you optimized your website and sales funnel to the utmost? If not, you may be costing your company revenue.
Oftentimes, Marketers are caught in the trap of always wanting to try the new, exciting “flavor of the week” when it comes to digital lead generation and conversion. But one way you can increase and convert leads at a lower cost is by using Conversion Rate Optimization (CRO).
CRO has the ability to increase sales through the traffic you already get. This process helps optimize your website and sales funnel, resulting in higher enrollments on your landing pages, email sign-ups, and event registrations; filling your pipeline; and, ultimately, getting more customers.
Econsultancy reports that companies with improved conversion rates are performing an average of 50% more tests and using 47% more methods to improve conversion.
You may ask, “But if someone came to my website before and didn’t sign up, why would they do so in the future?” It can all come down to presentation. CRO can help you refine your presentation.
Ask the following questions: Did you not pique their interest with your original offer? Are users unable to find what they are looking for when visiting your website? Are you receiving decent traffic on your landing page, but conversions are low? Are they not responding to follow-up emails? These are all signs you may need to optimize your tactics.
Optimize Landing Pages for Higher Conversion Rates
If you are already using landing pages to collect data and get information to potential customers, you’re already on the right track. Now, look at conversion rates on those landing pages. While conversion rates can vary by industry, to give you a general idea, the top 25% have a conversion rate of 5.3%, and the top 10% have a conversion rate of 11%. If your conversion rate is below the average 2.3%, you have some work to do.
MarketingSherpa reports that only 52% of companies and agencies test their landing pages to find ways to improve conversions.
The easiest way to generate a conversion rate increase is through A/B testing. Establish what your current average conversion rate is, and use that as a benchmark.
From here, make slight changes to your landing page throughout your campaign. Adjust form length, update title and headers, and change appearance, such as color, font styles, call-to-action button and more.
However, make sure you test only one change at a time and run the control at the same time. That way, you know which change gave you the best results.
The duration of your A/B test depends on how many people are likely to visit the page. A representative sample size is key. If you usually only have 10 or 20 people visit the landing page in a month, you may have to run your test for several months to get accurate results.
Once you’ve determined whether the control or the change performs better, document it, and continue on to the next A/B test until you receive an acceptable conversion rate.
Optimize Automated Lead-Nurturing Workflows to Get Customers
Even before someone has submitted a form on your landing page, you should have an automated lead-nurturing workflow in place. This allows you to create touchpoints with desired customers, automatically sending follow-up content to those in your sales funnel—saving you time and resources.
This is extremely important for larger, more complex purchases, as “nurtured leads make 47% larger purchases than non-nurtured leads”.
Don’t forget that we live in an extremely fast, digital world. People expect instantaneous, real-time response. Research has shown that 35-50% of sales go to the vendor that responds first. If you don’t react soon enough, you may lose the sale.
The purpose of an automated lead-nurturing workflow is to inform your potential buyer, engaging them through their own needs and interests. However, never forget you are reaching out to living, breathing human beings.
Enter A/B testing again. Although automated lead nurturing helps fill your pipeline, you can give it impetus by testing what works best to nurture leads.
Are they opening your emails? What is your click-through rate?
Test all aspects of your email’s appearance. Is your subject line boring? Have you tried including a video? Is the call-to-action obvious?
Don’t forget to give your lead-nurturing efforts a personal touch. Be sure to include the person’s name, company, interests—anything to show personalization. That can make the difference between someone reading your email or sending it straight to the digital trash can.
Still confused about how to improve conversion rate optimization? Unsure of how to set up an automated lead-nurturing workflow? Contact Marketing Essentials today for your free 30-minute consultation. We can walk you through the steps and set you up for success today!