Conversion Rate Optimisation
Why conversion rate optimisation is not an option… it’s a necessity
We’re going to show you how Living Online’s conversion rate optimisation services can bring success to your digital endeavours.
Let’s start with some introductions and definitions. The conversion rate of a website is the rate at which the site converts visitors into customers.
10,000 visitors @ 2% conversion rate = 200 customers
Conversion rate optimisation is the process of increasing this conversion rate so that the site generates more customers from the same number of visitors.
10,000 visitors @ 5% conversion rate = 500 customers
This isn’t just a good thing; it can be the difference between success and failure. Generating website traffic is an expensive business, so if you fail to convert that traffic effectively, you can find yourself unable to operate at a profitable margin.
Your website needs to be your best salesperson
Imagine that you’re in the running to land a big new business contract. Your team has done a lot of hard work in the lead up to this moment and the business development costs have been considerable. But if it pays off then you will win the biggest contract in the history of your company. All you need now is that final elusive signature…
You send in your salesperson to close the deal. And they bomb… big time. Their presentation was atrociously boring. They offered no proof of your company’s capabilities, completely neglecting to highlight your outstanding track record of achievement with similar clients. They failed to listen to what the client was saying, and they didn’t even bring the proposal with them. Worst yet, they even pulled out the wet-fish sweaty handshake. In fact your client was so appalled that they left the meeting halfway through.
You wouldn’t tolerate a salesperson that performed so poorly, you’d fire them on the spot. So why would you tolerate a website that fails your business in the same way? You need your website to be operating like a top performing salesperson. It has the job of not only attracting new customers, but also of closing those deals that are almost over the line. If it’s doing a bad job of selling your company’s value proposition then it’s losing you business. This is what happens when you have a poor conversion rate; it’s costing your business dearly.
A low conversion rate translates to lost customers, lost revenue, and lost profits. It also results in high advertising costs because you need to spend more money to acquire each new customer. This means that competitors can outspend you, capture a bigger market share, generate bigger economies of scale, and crowd you out of the marketplace.
So what do you do about it? Well you turn your website into a high performance machine and dominate your marketplace. Here’s a brief overview of the path to conversion rate glory.
Wizardry with technology and tools
It’s the rich layers of data in the digital realm that make the magic possible. Better yet, this is a stream of information that’s already flowing. It’s just a matter of mining the data for the nuggets of value that can power improvements in your business.
The performance of your website is dependent upon a huge number of discrete factors, each of which has a unique impact, both in isolation and in combination with its peers. The only way to understand how these individual factors are influencing website performance is to isolate their impact from one another. This is accomplished through a programme of systematic and disciplined testing of website performance variables.
Living Online’s Conversion Rate Optimisation service delves into the performance engine of your website through a comprehensive programme of split testing and multivariate testing. To conduct this sophisticated analysis we utilize an extraordinarily powerful suite of conversion rate optimization technology and tools. At all times however, in accordance with our values, we are technology and vendor agnostic. We use the right tool for the job.
Singing in harmony
Our multi-touch approach to digital services allows us to work across the full conversion rate optimisation life cycle. We tap into many of our digital capabilities for both problem identification and solution development. From digital analysis to digital content production, across a wide array of traffic segments, and everything in between. Our experience in downstream implementation means that Living Online knows how to get your website singing in harmony for the best conversion rate possible.
Been there, done that
Our conversion rate optimisation services have been honed with experience. We’re familiar with the common pitfalls that are faced by many websites and may be able to deliver some quick wins. Our arsenal of tactics and techniques is primed and ready to go. Whether you’re failing to persuade, or are creating inadvertent user experience roadblocks, we’ll find a way to grease the conversion funnel.
Above and beyond
Your website performance is important, but it’s not the full picture. The underlying fundamentals of your business play a crucial role in the overall health of your business operations. Your website can be a key driver of success, but there’s also plenty of heavy lifting to be done outside of the digital realm. Overall business success draws heavily upon your product, team, strategy, customer service, and a host of other factors.
Let’s look at just two ways that these underlying aspects of your business may manifest themselves as symptoms in your website conversion rate.
First, consider the effect that your products or services have upon your website conversion rate. If you’re selling something that no one wants to buy, then it doesn’t matter how good your website is, your goods just won’t sell. It may look like a conversion rate problem, when in actual fact it should be attributed to product deficiency. Second, a website conversion is usually only a partial completion of a process. For example, if you harvest leads from a contact enquiry form on your website, then the overall sales conversion rate is a factor of both your website conversion rate and your lead conversion rate. There are caveats to this rule, such as with ecommerce stores and non-sales oriented goals, but nevertheless it demonstrates that the rate at which conversions are converted is equally important.
Living Online is experienced in providing management consulting services to both ASX100 listed companies and government agencies alike. We have the ability to go above and beyond the digital realm and imbue our conversion rate optimisation services with wider business consulting skills.