Your Website is Losing Money

If you’re not using conversion rate marketing to test different elements of your website, I guarantee you’re missing out on some easy money.

Conversion rate marketing can help improve the performance of any website or marketing campaign, no matter the niche or target goal. The top performers and thought leaders in the internet marketing world have been using it for years, but the large majority of the web is slow to adapt – or doesn’t yet know about its power. The best way to explain the process is to give you two examples of prime candidates for conversion rate marketing: online retailers and professional services firms.

Example 1: An Online Retailer

Online retailers have the primary goal of trying to sell product through their website. In this example, an online retailer has been online for over 5 years and has built up a large amount of traffic to their website. They’re attracting plenty of visitors, but not selling to enough of them.

I use the process of conversion rate marketing for this online retailer to maximize their traffic by selling more to the visitors they already have. The process primarily involves A/B & multivariate testing of key pages throughout the website. For an eCommerce site, these pages include the home, category, product, search results and checkout pages. I test different variables of these pages including layout, color, copy, functionality and imagery to find the most profitable design.

I decide that the home page has the most room for improvement based on the number of visitors and how poorly it’s converting as compared to the rest of the pages. I come up with 30 different variations, many of them based on micro variables that combine for macro changes. After testing these different variations for a month, the results are phenomenal. Together with the client, we’ve increased both the conversion rate and average order value, resulting in a higher revenue per visitor.

Before Conversion Rate Marketing:

  • 100,000 Monthly Visitors to Home Page
  • 3% Conversion Rate
  • $75 Average Order Value
  • $2.25 Revenue Per Visitor
  • $225,000 in Total Monthly Revenue

After Conversion Rate Marketing:

  • 100,000 Monthly Visitors to Home Page
  • 4.5% Conversion Rate
  • $90 Average Order Value
  • $3.60 Revenue Per Visitor
  • $360,000 in Total Monthly Revenue*

*That’s an increase of $135,000 in monthly sales revenue.

All we did was use conversion rate marketing to test the home page, and the results nearly doubled the monthly sales revenue. These results are certainly not unheard of, particularly for clients who have never engaged in any sort of testing in the past. You’ve worked to build the traffic, now do yourself a favor and get the most out of it!

Example 2: A Professional Services Firm

Professional services firms use (or should use) the web to get more leads through their website. In this example, we have a Baltimore, Maryland-based law firm that gets lots of geo-targeted visits from prospects looking to inquire about the firms services. The traffic is there, but the leads aren’t. Why aren’t any of these targeted prospects contacting the firm? How can we capitalize on the traffic that already exists? We use conversion rate marketing to find out.

Together with the client, we uncover the needs of prospects when searching for the law firms services. Of course, this should’ve been done when the website was built, but the firm who built it was obviously slacking. We find 10 different elements (primarily content and functionality) that we feel will enhance the visitor experience and make them more likely to contact the firm. I also come up with an additional 5 elements that should be a standard part of any lead-generation website. We test 15 different variables altogether, randomly and automatically sending visitors to different variations of the website to see how they react. Here’s what happened:

Before Conversion Rate Marketing:

  • 10,000 Monthly Visitors
  • 1% Conversion Rate
  • $800 Value Per Lead
  • $8 Revenue Per Visitor
  • $80,000 in Monthly Lead Value

After Conversion Rate Marketing:

  • 10,000 Monthly Visitors
  • 1.5% Conversion Rate
  • $800 Value Per Lead
  • $12 Revenue Per Visitor
  • $120,000 in Monthly Lead Value*

*That’s an increase of $40,000 in monthly lead value.

By implementing site-wide changes to the website of this law firm, it went from bringing them an average of $80,000 in monthly lead value to $120,000. That’s the power of conversion rate marketing.