Optimizing a sales funnel happens at each stage of that funnel, and conversion is the primary goal.
In this final post of the Sales Funnels series, we are going to talk about why you need to track your sales funnels conversion rates.
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How successfully your sales funnel is functioning is reflected in your conversion rates. Each stage of the funnel will have its own conversion rate, as will the funnel as a whole.
Your conversion rate can be viewed as a simple metric, expressed as a percentage of site visitors who take an action vs those who don’t. For example, if you have 100 site visitors and 67 of them buy your product, your conversion rate is 67%.
That’s when we view conversion rates as a simple metric, but if only it were that simple.
CRO (Conversion Rate Optimization is your goal: to tweak and test until you convert the maximum amount of visitors possible. This is where the problems begin.
It’s tempting to rely on conventional wisdom when testing changes to your website. There are plenty out there, and three times as many pieces of advice about each.
Conversion is highly relevant for any sales funnel that incorporates paid advertising. Ignoring optimization leaves money on the table each and every time a visitor lands on your site.
So what are the most effective changes you can make to your copy?
Take a look at your competitors and if there’s something they all use as their freebie or small introductory offer, avoid using it.
Your offer should convert at least 5% of site visitors – any less and it’s not worth the cost of the download.
What do people actively search for in your niche? Can you offer access to software that helps them or a database of resources? Often, just making your site visitor’s search for information easier or faster is enough to wow them.
Usability is a must – but what’s their experience of your introductory offer?
- Is it easy to access without having to fill in lengthy form fields?
- Does the submit button work?
- Does the captcha plugin work?
Test, test, test.
In as many different ways as possible.
Your Sales Funnels
It’s amazing how many major league businesses fail to test their own sales funnels!
Open a different web browser where you are not logged in as a customer or admin and go through the process as if you just landed on your own site as a visitor.
Ask someone unfamiliar with your business to test the process as an outsider – it’s easy to create 100% discount codes on almost any e-commerce platform so that you can test your sales process at every point of sale at no cost.
Pay Per Click Advertising
With the availability of cheap PPC advertising on social media platforms such as Facebook, Twitter, LinkedIn, and others, it’s relatively easy to test your conversion rate by driving paid traffic to your funnel for a limited period and tracking results.
Your Landing Page
Test your landing page layout. Always keep an A/B test running for your landing pages, comparing one option to at least one other alternative.
It’s helpful to test against more than one, but avoid going over four, as the data becomes messy and difficult to quantify. Each landing page should test a different offer, sequence, or content.
When driving traffic to landing pages, the benefit lies in conversion, so ditch any and all low-performing pages.
Avoid thinking of your site as “the more pages the better”. The common analogy is that of a shotgun approach where your offers are scattered all over the place while the real path to success comes from a sniper approach to targeting the most desirable leads.
Final advice on conversion is to always retarget your visitors. “No” often means “not right now”.
This post is part of a series to help you understand what a sales funnel is, why it’s so important, and how to set one up. View the other posts here:
- Understanding What Sales Funnels Are
- Why You Need To Build A Sales Funnel
- How To Build A Sales Funnel
- 4 Stages of a Sales Funnel
- How to Provide a Good User Experience For a Successful Sales Funnel
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