Are your conversion rates below average? Ask these 10 questions to yourself.
A greatest faux pas we frequently bump into with conversion rates is that businesses show signs of addressing issues only when distress signals are triggered.
It cannot be the case with conversion rates. The conversion rates demand uninterrupted and unceasing focus and maintenance for your marketing and optimization endeavours. Like any other maintenance, marketing should also be maintained religiously.
For marketers and business owners, it is common to make tweaks to the webpages and landing pages often when conversion rates aren’t what they had looked for, meaning, lesser conversion rates than expected. Here’s where you will try and adopt new practices like A/B Testing, improvising the content, changing CTAs, making the page look appealing etc. Although there are some benefits to these changes, there is a lot of other great deal to optimize better conversion rates.
The strategy should be more of a quantitative and qualitative approach over an à la carte types which you may think will work then.
So ruminate on these 10 questions before adopting new practices or making tweaks to your website or landing pages.
1. Does your product have a market already?
Seriously??? After launching the product??? – If this is the question that’s running in your mind, yes, we meant to ask this. If not now, when?
Researching the market before the product launch is something that you would do in the beginning stages of product development. It is all a part of gathering information about your audience and also building a few features on what they exactly need or solving their problem with the help of your product. Despite having tailored your product for your audience, you face conversion problems, it is a cue that you may have to revisit this.
You can search on the internet the volume of interest people have for your product. If the traffic is steady or shows a positive sign, then you have to look into the current form of your product and if it is really addressing the problems and needs of your audience today.
If it is yes again, then look at how you should locate the product to make sure your customers can realize its value.
2. Is your audience-targeting strategy accurate?
What could sound more frustrating than recording hundreds of visitors to your website and yet empty carts and no opt-ins? And you will also not be able to find out what’s holding them back from leaving empty.
The only method that you can focus on is identifying if you are targetting the right audience.
This stands true to having a great product trying to make business with the wrong people. There will certainly be zero interest and this answer should majorly help you in rethinking your present audience and the target market.
3. Have you registered the trust in your audience’s minds yet?
Have you hesitated to ask your customers their personal information? It’s a good sign if yes. Asking your customers to store their personal and financial information on your website requires you to build an iceberg of trust and faith. Email address is still fine, but what about phone number, address and credit card or debit card information?
There are cases you would have seen as a retail marketer online that people would stop their purchase at the last minute when it comes to saving their identity and bank information. Although your customers may want what you are selling unless they don’t trust you, they will never convert.
Establishing trust may be done in different ways like:
- Real testimonials and reviews from real customers
- Trust badges
- Company’s location and contact information
- Recognizable brand’s acknowledgement – logo, CEO’s name etc
- Trade group affiliations
- Awards and recognitions
4. Do you convey benefits and deliver recognizable value?
For you, me, our companies, the audience – everything comes down to value. Value is the benchmark for your product. It is enough to do the entire talking and selling for your product and business. In short, your company’s unique selling point.
Big enticing buttons, graphics, gifs won’t always do the conversion magic. Unless your customers don’t realize the value of your product and don’t understand its benefits, chances are you will be ignored and so will be your product.
You have to help your audience understand your product’s value succinctly and to the point. Get to the basics as much as possible so your customer understands the purpose and the value of your product, rather than just the features.
5. What is the purchase experience in real?
Entangled and complicated website navigation and several pages to see off before the checkout process is where the customers will crash. It is imperative to comprehend that you should give a happy journey to your customer in order to convert. From UI shopping experience to seamless flow between pages, during check out and completing transaction, your customer should not face a glitch and should not feel any page too long to sit for and unnecessary. This includes minimum number of clicks, seamless flowing between the pages, website is accessible on all devices etc.
It is important that you run multiple tests from diffeent perspectives on your website and consider hiring a Tester dedicatedly at the time of site launch. Unbiased feedback and user experience should help you in this stage.
6. Are there any loopholes in your funnel?
Understanding where people are actually giving up on your website should be a good indicator of why people are leaving or at the minimal, it should help you narrow down to the root cause of why they are leaving. This is the time where you will find out the reason why and discover the friction points that you never knew existed.
Open your analytics windown and carefully observe the visitor flow. Notice which page attracts traffic, the number of clicks, the steps people should follow to land on that page and uncover the point where they literally leave.
Replicate those steps personally within your team and see if you are able to discover why from different person. Is it the number of clicks or user experience or is it too lengthy etc. Narrowing down your options should help you unearth all the loopholes and determine an actual leak.
7. What are the friction points?
Friction in your business or sales funnel is anything that hinders your conversion – either by slowing it or completely stopping it.
A few to be highlighted are:
- Slow website loading
- Too much information to fill on the form’s fields
- Too many clicks to complete an action
- Missing or hidden information [address, shipping details, contact information]
- Poor copywriting and UI
- Stop words near your CTA [We’ll never spam you, no gimmicks, etc can most of the times backfire and remove the trust]
- So colourful as to be in bad taste design
You don’t need an expert to identify these friction points. You can practice an internal review within your team and notify everyone to chart out the points that they think could be a friction. On the forms, ask only few important questions related to the present and future order, avoid overwhelming your customer with a lot of options, target only clean and pleasing designs, hire a copywriter to make your customer relate their experience with words.
Tip: A/B testing is the best way to identify what content works and what won’t.
8. Ponder how your customers feel about the process?
When your concern is the conversion rate, what better insights that you can get from your customers?
Having feedback tools on your website will help you discover these insights. It will go a way beyond telling what was not happy for your customer in their shopping experience. You can be specific in your feedback asking questions about the UI, what was the difficulty, the site experience, the navigation, design feedback and a lots more.
The feedback approach will not only tell you the cause of poor conversions but also assures your customers that you genuinelyc are for them and are ready to incorporate suggestions based on their feedback.
9. What does the data reveal?
It is a good habit to occasionally revisit the data that you have accumulated for your business and website. Paying attention to the the conversion metrics of your website, data from insights and social ads, bounce rates, visitor flow, clicks, average time spent on which page, what is good and bad about those page, etc will open your views to a lot of other things.
Make your data talk and convert those talks into action. Otherwise you are clearly spraying to the market and praying to convert any one.
Whether it is the ROI for ecommerce sales, enriching content marketing, data is imperative. When you revisit your data, measure the new data and record the new changes against the original. This will help in understanding if you are headed in the right direction.
10. What are your competitors doing?
You should not follow your competitors but it is always good to know what your competitors are doing. A little positive inspiration from your competitors is no wrong and understanding their methods to leverage competitive insights for their market research could be an eye opener for you.
If your conversions are tumbling for specific services or products, look up to your competition. What are they doing dfferently to sustain the value of that porduct? How different is their advertising from yours? What is their strategy to attract the target audience?
List down the answers and map it against yours to discover why it is working for them and not you. This should give you answers on areas that you need to improve as far as your sales and marketing is concerned.
Time to ponder and reflect:
Now that you have some information on what to focus on for poor conversion rates, ask these questions to yourself and get that cracking.
- Do you need to revisit market and product fit?
- How accurately are your targetting the right audience?
- Have you registered the trust in your audience’s minds yet?
- Do you convey benefits and deliver recognizable value?
- What is the purchase experience in real?
- Are there any loopholes in the sales funnel?
- What are the friction points?
- Ponder how your customers feel about the process?
- What does the data reveal?
- What are your competitors doing?
- Lastly, bear in mind to monitor the numbers and accordingly make changes to the data – not mere assumptions.
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