How to Increase Conversion Rate
Congratulations if you have managed to generate traffic towards your website now but the thing is, all these traffic is useless if you don't have strategies in place to convert your audience to paying customers. Continue reading to know how to increase the conversion rate of your online shop.
1. Create an engaging and clear value proposition.
This is the main reason a customer should buy from you. Customers don’t just want to know “What’s in it for me?” but “Why buy from you?”
What creates a good value proposition?
•Being unique from your competitors’ offers.
•You may match a competitor on every aspect of value except one. You need to excel in at least one element of value.
To create a value proposition you need to research on what is unique about your company and your products and services. Take note on which services you / your company excel and what products is selling best. Having a powerful value proposition is not enough; it must be communicated effectively to achieve the maximum results.
2. Do A/B testing
This is a technique of experimentation that will establish which route will generate you the most success. For example - If you were stuck between two headlines to use for your page, you could run an A/B split test to see which one would work better.
To find out, you would:
•Create two different versions of your page (page A and page B) each with a different headline.
•A/B testing software directs 50% of the traffic to page A and 50% to page B.
•Both pages have a call to action, and in the end you count how many people took the action.
•The page with more conversions (more people taking action) is the most successful.
Deciding what to test:
People tend to guess what factors to concentrate on and mess around testing things that have little or no impact on users or conversion goals. What you should do instead is use the data available to you to see the most important projects to focus on.
What to use for testing:
•Google optimise - which is free.
• Optimizely or VWO - If you’re mid-market to enterprise-sized.
3. Set up a sales funnel
On occasion, asking for the sale (signup…) too fast is what threatens your conversions. People might just be browsing and might not be mentally ready to buy right now.
In many situations, you need to just slow down and build a sales funnel to build trust, develop a relationship and prove your expertise.
For example, if your product is an online course on DIY home repair, you would follow an idea like this:
What the visitor wants:
To learn about DIY home repair.
What you want:
Get the visitor to buy your course.
How to do it:
•Offer free home repair advice via your blog, videos, free reports.
•Become their trusted advisor
•Give them powerful reasons to sign up to your email list (in exchange for some good info)
•Free drip content video course via email
•Send them to your sales copy and ask for the sale
4. Increase trust
A guru in sales, Zig Ziglar, has stated that there are 4 reasons why people won’t buy from you:
•not in a hurry
One of the trickiest issues is trust. To build trust, I have compiled a few methods to encourage such relationship:
•Make it easy to verify the accuracy of the information on your site.
build website credibility by providing third-party support
•Emphasise the expertise in your organisation and in the content and services you provide.
Do you have experts on your team? Are your contributors or service providers authorities? Give their credentials.
•Design your site so it looks.
Amateur-looking websites don’t build trust, invest in a quality designer.
•Make your site easy to use – and useful.
Your site can gain credibility points by being both easy to use and useful.
•Update your site’s content regularly.
Nothing says “out of business” like an abandoned site.
•Use restraint with any promotional content (e.g., ads, offers).
Nobody likes hype, popups and blinking banners. People associate it with scam and spam.
•Avoid errors of all types, no matter how small they seem.
Spelling errors and broken links threaten a site’s credibility more than most people imagine.
5. Add incentives to take action right away
Nothing creates urgency like scarcity.
There are 2 kinds of scarcity you can create:
•quantity-related scarcity (2 seats left at this price)
•time-related scarcity (last day to buy)
If your supply is endless, you can give out time-sensitive bonuses such as a free gift to first X amount of buyers or a discount if they complete the purchase within a certain time frame. However, the reason for scarcity has to be genuine. Don’t lie to your customers, If it is fake scarcity, your trustworthiness will diminish.
6. Don’t be tempted to write jargon
Trying to show off to customers with fancy, complicated business language doesn’t work.
If there’s a sentence that you wouldn’t use in a conversation with a friend, re-word it. Just write like you talk.