Conversion Rate: How many of your website visitors become your customers?
Every day, visitors arrive at your website looking for information. Some left after a brief look on a single page (bounce), while the rest continue browsing through. However, a low number of customers submitted the contact form on your website. This low conversation rate also implies that eventually, fewer become your customer. How can we evaluate our webpage visitors, understand which channel brings in the highest potential visitors to become customers, and which channel that you’re paying is not performing? Look explore the conversion rate concept here.
Funnel Analysis
Funnel analysis involves analysing the series of events that lead towards a defined goal to calculate visitors-to-customers conversion rates on specific user behaviours. At every level of the funnel, you lose people before the remaining “flow” down to the next level. The conversion rate can therefore be calculated (percentage of visitors proceeding to the next level). The top level of the funnel represents all the visitors entering the website. The next level of visitors may be browsing several pages of the website, understanding your business. Following which are the interested who leaves their particulars on your contact form, who your company successfully contacted, and eventually those who become your customers.
The purpose of doing a funnel analysis is to use the conversion rate at each stage and identify the problem such as low conversion rate (losing opportunities), have an actionable insight and solve the problem. For example, why is the decrease in conversion rate at some stages so high? If the channel has to be paid, are the fees worth it, or funds are better off used to increase conversion rate at other channels. Following, what can be done to decrease the bounce rate and ultimately, increase the effective conversion rate towards the predefined goal?
Increasing Conversion
If your website is lacking traffic, below are just a few suggestions to get visitors to your website:
i. Get free traffic from search engines like Google, and/or cheap traffic with Pay-per-click (PPC) advertising
Submit/suggest your website to search engines so that it will have be included in them:
And/or, use PPC engines such as Google AdWords. Choose keywords and you only have to pay when someone clicks on your ad to visit your website.
ii. Publish informative free contents on your website for publicity
Well-written articles can generate high traffic with those interested in your topic, possibly increasing sales. Considering giving away your articles through free content websites as well.
Increasing Conversion Rates
Below are some ways to increase your conversion rates among many other methods:
i. Include as little fields in your contact forms as possible
ii. Clearly state the benefits of your product/services on top of the main features, on how it can help/solve their problems
iii. Include consumer reviews, which are influential in helping consumers make purchase decisions
Conclusion
Funnel Analysis is an effective method in understanding the series of actions to achieve the defined goal. Having the conversion rate of each stage on hand, one can identify which stage has a low conversion rate and is losing customers. Thereafter, one can act on that stage by testing variations on the website, or try out different methods to increase conversion rate through attracting the right group of audience.
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References
DEMERS, J. (2015, Feburary 2). 39 Quick Ways to Increase Your Website’s Conversion Rate. Retrieved from Entrepreneur, link
Gehl, D. (n.d.). How to Attract Visitors to Your Site. Retrieved from Entrepreneur, link
