Conversion Rates- Evaluation: Simple and Sticky – Part 1

 

Our Happy Heidi wants simplicity. The three things Heidi appreciates in her evaluation process are:

 

1. How easy it is to gather information about your product or service

 

2. How much trust she can place in the information you provide

 

3. How easy it is to evaluate the options you provide

 

If these three tasks are easy for Heidi, then compared with your competitors who make things difficult:

 

● She is 86% more likely to buy from you

 

● She is 10% more likely to repurchase from you

 

● She is 115% more likely to recommend you to others

 

As I keep saying, you only have to be consistent in doing the right things to walk all over your competition. If you want Heidi to stick with you during and after the evaluation process, then keep it simple.

 

Conversion Rates

 

The perfect ratio of site enquiries to sales is of course 100%. But in the real world this is unrealistic; so what should you aim for? Is your conversion rate from landing page to pricing page to sign up page better than 30%? Is the abandonment rate of your online shopping cart less than 67% (the average of over 22 studies)?  If either of these cases is true for your business, you are already achieving above average.

 

Similarly with retail shops; is your conversion rate of people coming into your shop in relation to sales better than 33%?

 

How can you measure conversion rates? There are web analytics tools for websites. These include: ClickTale, Adobe SiteCatalyst, Webtrends, Google Analytics, and KISSmetrics. For retail shops there are automatic visitor counters or staff manual counts which you can use to compare with your invoices.

 

Gathering Information

 

The trick here is to minimise the number of information sources Heidi has to ‘touch’ to get the information she needs. This means you need to understand as early as possible what her immediate info needs are. If Heidi has already made up her mind about what she wants, don’t get in her way with unnecessary steps and information. Put the ‘BUY!’ button at the head of the page as well as at the bottom. Clear the path to the cash register! Can you imagine Heidi coming into a shop knowing she wants a specific item only to have you or your sales rep give her a long spiel on the relative merits of this item versus that? If you look closely, you’ll see that that’s what many websites do.

 

How well can you find out what stage Heidi is at in her evaluation process? Is she at the beginning, looking at what’s available in a luxury designer bag? Or is she already comparing Chloe with Valentino? In the shop content, it’s easy; just ask how you can help her. On a website, it’s often a case of pointing her to different landing pages depending on the search criteria used. Or it could be the platform Heidi is using. Research shows, for example, that 70% of those using a mobile device to search are within a few hours of making a purchase. 70% of those using a desktop are roughly a week away. Your website analytics can tell you that.

 

Sending Offers

 

Why did I just get an email that included an offer of a new nail treatment? I’m a guy! This email didn’t make me feel appreciated. It certainly shows that the marketer doesn’t know me and doesn’t understand my needs. It doesn’t take a lot of work to optimise your email list and distinguish gender. It’s just plain lazy not to set up your email blasts appropriately. In fact, you’re far better off sending just one offer per email than six or seven. If you eliminate these annoying emails, Grumpy Graeme is less likely to immediately bin the next one he gets from you. So work to gather as much appropriate information for your mailing list as you can. Make sure it’s aimed at helping you help people to better evaluate your offer.

 

So where is all this going? We’ll look at two more points next time. The first will be about Trust, and then I want to give you 4 rules about giving clients options.

 

Graeme Stevens
CEO and Co-Founder
neXtep easy
www.nextepeasy.com

 

neXtep Business Builder Community Pte Ltd
Singapore ACRA Business Registration Number: 201424522Z
80 Kitchener Road #09-09/10 Singapore 208539