How to Increase your Customer Conversion Rate
Customer Conversion – Having a prospective customer take the action that you want them to take.
Customer Conversion Rate – The percentage of people you get to take the action you want them to take.
For example: With offline or face to face – 1 in every three people takes action or 33%
This is not just for face to face it is also for online business. For example: For every 1000 people who visit your website online, 50 take action, your conversion rate is 5%
Do you know your conversion rate? Offline or Online.
Some types of conversions
- Sale of a product
- Sale of a service
- New subscribers
Customer strategy
Do you have?
- A customer conversion strategy
- A customer retention strategy
- Segmentation of your customers
- Targeting of your segments
- An inbound marketing strategy
- Value propositions
- Online and offline value
- A digital mixed marketing strategy
- A review strategy
How to increase your offline conversion rate?
- Product or service reviews – Just like a testimonial, a review can provide peace of mind for new customers.
- A genuine guarantee – Can you guarantee your offering or give them a reason your product or service is less risky?
- Trial close – EG: If we can agree on a price are you ready to buy today. Or in other words, what can you do to get the client to move forward sooner.
- Make it easy – Ensure in your conversation that nothing is a problem you cannot solve.
- Have a very simple journey – Is the journey people take to doing business with you an obvious one?
- Touchpoints – What are the touchpoints people have prior to doing business with you?
- Payments – Is it easy for your products/services to be paid for?
How to increase your online conversion rate?
- Have great social proof – Make sure you have great online testimonials about your product or service.
- Ensure you are contactable – If people can easily see a phone number, physical address, email etc. they feel secure about doing business.
- User experience – When people are on your website, do they know what to do. Is the navigation simple and easy and does it guide visitors to take the action you want them too?
- Offer a guarantee – Do you have a product, service or information guarantee?
- For subscribers – Do you offer a free eBook when they subscribe?
- Payments – Is it easy for your products/services to be paid for?
Tracking and improving
By constantly tracking the conversion rates you are able to work out what you are doing well and what you need to improve on.
For example, A mortgage broker speaks to ten people and that converts to one new loan application. Or 1 in 10 people agrees to apply with them. Imagine if that same mortgage broker could get 2 in 10, suddenly their rate is 2 in 5 people. 2 in 5 people is a great outcome and they can still aim to increase that.
If you improve conversion rates you improve profitability and that should always be your goal. By improving your conversion rate you don’t have to spend more money on marketing, you are just better at closing the deal.
If you need help with any or all of these things – contact Kelly Robinson @ My Sassy Business.
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