When some businesses evaluate their website performance, they often judge it based on how many visitors they are getting. When they want to improve their performance, the first thing they aim to do is increase their traffic.
Savvy businesses realize, however, that the volume of traffic is just one of the important metrics to be considered. Businesses should also be looking at the number of leads and conversions they are generating, also known as their conversion rate. These are the numbers that really drive sales. You could have higher traffic than all your competitors, but if your conversion rate is poor, you’ll never make any money. A plush showroom with plenty of fancy cars can attract a lot of people, but if no one is buying, where is your return on investment (ROI)?
When visitors come to your website, some will be interested in your services, and others will just be browsing. True leads are the visitors with an interest in your services and intent to purchase.
For example, if you are a Toronto business servicing your local geography and you receive 500 visitors to your site from Asia, Australia, and Europe, they are not good leads and will never buy your services. Even if they did intend to buy, you will not have the ability to serve them, so it is a wasted effort. If, however, those visitors were all located in the Greater Toronto Area, they would be leads and worth far more because they represent potential business.
When leads visit your website, a portion of them will take further action, such as calling your business, filling in a contact form, or even making a purchase online. When a lead takes one of these actions, they move a step further along the sales process.
Conversion Rate and Conversion Marketing
A conversion rate measures the percentage of visitors to your website who have completed a desired action such as clicking on an ad, signing up for email marketing, or making a purchase. It is calculated by dividing the number of users who perform that action by the number of users in the overall audience, then converting the result into a percentage.
Conversion rate marketing seeks to optimize your conversion rate using sophisticated techniques to influence your audience’s decision-making. For instance, a website that is optimized for conversions is easy to use and tells users exactly what you want them to do next. Colours, fonts, layout choices, and other more subtle factors also play a part in this process. Conversion marketers often employ techniques called A/B testing and multivariate testing to determine the most effective layout and wording for the site.
Why Are Conversion Rates Important?
Conversion rates are an important performance indicator when evaluating the success of a marketing initiative. Because it measures the percentage of people who did what you wanted them to do, this figure is arguably the most accurate reflection of how effective your marketing techniques are. Whether your goal is to make a sale or get someone to sign up for your email newsletter, a high conversion rate indicates that you are succeeding at meeting your business goals.
Comparing the conversion rates of different parts of your marketing strategy can also reveal what parts of your approach are working and which need more fine-tuning. Some channels are bound to show higher conversion rates than others, and you can use this information to focus your resources on those that are performing well. This maximizes the return you receive for your marketing investment.
Website conversion rates are particularly helpful when you are considering scaling up your marketing efforts. You can usually expect your website’s conversion rate to hold steady when your traffic increases, so multiplying your conversion rate by the number of new visitors you expect to attract can give you a good estimate of how lucrative your investment would be.
WSI Comandix Can Help Maximize Your Conversion Rate Through A Few Key Initiatives:
- Improve sales copy so that visitors are more likely to continue with their sales journey
- Help you clearly communicate your value proposition to your prospective customer
- Test different elements of your website using split-testing to ensure that every change we make is statistically better
- Improve the design and usability of your website so that prospective customers find it easier to navigate and use
- Ensure that your site has compelling calls to action driving qualified leads to convert
What is a ‘Lead?’
A lead is a person who has the ability to buy from your business and has expressed interest in the product or service you sell. In a digital marketing context, this often refers to people who have visited your business’ website. Leads may arrive at your site through several channels, including search engine results pages, social media posts, and targeted paid ads. For many businesses, generating leads is the primary purpose of their online marketing.
However, identifying leads is just one of the many steps involved in closing sales. Once your leads have made it to your website, your content must be able to guide them to the point of conversion. This is where conversion marketing comes in.
If you run an eCommerce store, you may be able to convert leads into paying customers right away. For most businesses, though, the goal is to turn these visitors into qualified leads that will become customers later in their buyer journey.
What Makes a Lead ‘Qualified?’
A qualified lead is a lead who has willingly provided personal information (usually their name and email address) to you, indicating that they are actively interested in your products or services. This makes a qualified lead more valuable than a standard lead from a business standpoint; in theory, it should take very little convincing to get them to buy your product. Because you now have this lead’s contact details, you have the opportunity to send them incentives including additional content, discounts, insider product deals, and more.
The exchange of contact information is one of the many forms that a conversion can take. A website that is optimized for conversions will secure far more qualified leads than a website that is not designed with this purpose in mind. This in turn leads to more sales and more revenue for your business.
How Can Conversion Rate Marketing Help Your Business?
A successful conversion always brings a lead further down the sales funnel, even if they do not make a purchase right away. In other words, the higher your conversion rate is, the higher your sales (and by extension, your revenue) will ultimately be. You will be able to acquire more customers from the same amount of web traffic you currently have, and if you take steps to boost that traffic, you can expect to gain more customers proportionate to that figure.
Since all your marketing endeavours will become more effective by using conversion marketing, you can also expect several additional benefits for your business:
- Your cost of acquisition per customer will be reduced.
- Your profit per customer will increase.
- You will be able to reinvest these profits into your business and further propel its growth.
Generate and Convert Leads with Our Digital Marketing Services
WSI Comandix’s conversion marketing can help your website attract qualified leads. By increasing your conversion rate, we can help you earn more money from the same number of visitors. Many of our customers see their online conversion rate improve substantially after we have started work on optimizing their website.
Digital Marketing Services to Acquire More Leads and Sales
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Digital Marketing Partner Program
Conversion Rate Optimization
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Lead Generation Strategies
Assessing your competitors’ strengths and online performance is a critical part of the SEO process. It is essential to determine what you can do to improve your website’s reach. It can give valuable insights into what your peers are doing and help you come up with unique strategies best suited for your business.
The right way to map out the strategy for your website is by creating digital marketing solutions blueprints. These include reviewing your current strategies, eliminating ineffective practices, and adopting new approaches for a powerful online presence. They can help you enhance your business reach through goal-oriented methods that deliver the desired results.
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Online marketing automation is all about automating the sales process and engaging users across multiple channels to generate leads and drive sales. It requires you to adopt and implement different tools, such as email campaigns, to reach out to your customers. It also focuses on integrating your marketing policies with your CRM systems to ensure you do not miss out on any opportunities to enhance your online reach.
Email marketing is arguably the most cost-effective way to reach your leads and nurture them through the sales funnel. A well-crafted email can prompt thousands of dollars’ worth of sales for your business.
If you have ever questioned how well your business is performing online, an assessment is in order. Our Internet Business Analysis (IBA) service examines the effectiveness of your current strategies and determines how you can optimize your marketing activities to improve your ROI.
Instead of seeking your customers out, why not let them come to you? Inbound marketing strategies are designed to attract leads to your website by presenting them with relevant content. Blog posts, videos, social media posts, and more can all help you draw in new leads and strengthen your brand.
Growing an organic email list is a key goal of any business. Targeted digital marketing campaigns paired with unique landing pages encourage conversions and track the origin points of visitor traffic.
Without enough leads to sustain your business, it will eventually flounder. Strong lead generation strategies can bolster your website’s traffic and ensure that you never lack for leads to market to.
Building relationships with your leads is an essential way to persuade them to buy from you. Targeted lead nurturing content meets your leads at every stage in the buyer’s journey to help them gain trust and brand affinity along the way.
The results of digital marketing are easy to track and examining those results can yield useful insights. Analytics automatically synthesize your website’s data into those insights, enabling significant improvements to your performance and ROI.
Your website needs to be persuasive if you want your leads to convert. By keeping the philosophies of Conversion Architecture in mind when building your site, you increase the likelihood of your leads taking the action you want.
Talk to the Conversion Marketing Experts at WSI Comandix
Your website’s conversion rate could be drastically increased with the help of the right internet marketing agency. WSI Comandix has more than 20 years of experience to put to work for you. We know what works when it comes to lead persuasion, and our conversion marketing skills are sure to produce excellent results for your business.
Let us help your business generate more leads and conversions through our digital marketing services. Call us today at (905) 475-3675 for more information.