Boost Online Profits with Conversion Rate Optimization

All the traffic in the world means nothing unless it converts into dollars. Paradoxically, businesses on average spend only $1 converting customers for every $92 they spend acquiring them. Do you see anything wrong with this picture?

BOOST YOUR ONLINE PROFITS!

Speak with Josh and discover our profit-centric conversion optimization services.

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What is Conversion Rate and Why Optimize?

A conversion is an action that you want people to take when they visit your website. Examples of conversion goals include:

• Buy a Product
• Download an App
• Subscribe to a Newsletter
• Make a Call
• Click to Chat
• Start a Free Trial
• Share the Content
• Invite Your Friends
• And more

Conversion Rate is the percentage of visitors that click the call-to-action button and reach the conversion goal. For example, if your conversion goal is a free trial and three out of 100 people visiting your webpage converts, your conversion rate is 3%.

Conversion Rate Optimization (CRO) is the science and art of augmenting the number of conversions for the same volume of traffic.

It’s science because it’s based on numbers. It’s art because CRO involves visual design, copywriting, branding, and human behavior along with digital marketing experience.

Even a small increase in conversion rate can deliver a huge jump in revenues. For example, if your revenue is $1.0 million and your conversion rate increases from 2% to 2.5% (by 25%); it translates into extra revenues of $250,000.

The best thing about CRO is that it increases the revenue without increasing the cost of acquisition, as you’re still driving the same number of visitors.

Josh Meah’s Profit Centric Conversion Optimization Approach

Imagine three scenarios.

• You hired a conversion rate optimization agency, and they doubled the conversions; however, the revenues are static.

Probable cause: Your agency (or the tools they’re using) may be misreporting the numbers.

• Your conversion rate and profits are going up. You can do much better but don’t know it.

Probable cause: You need a better pricing strategy.

• You’re a B2B seller with a healthy visitor-to-lead conversion rate, but almost none of your leads are converting into sales.

Probable cause: Your lead generation services are not delivering quality leads.

As you can see, conversion rates and profits are not always the same thing.

At our NJ based conversion optimization agency, we’re focused on the profitability of the clicks—the bottom lines.

We deliver more conversions for each dollar you spend on driving traffic and also offer you the guidance to make more money with each conversion. The resulting increase in revenues and profits is astronomical!

Our Conversion Rate Optimization Process

Conversion rate optimization is not as easy as it seems. For example, most anybody can look at your conversion funnel and point out a few weak areas like:

• Bad copywriting
• A lack of visual content
• A lack of trust signals
• Not enough customer reviews
• Inconsistency between ads and landing pages

The problem is that you don’t know for sure if improving the elements you identify would deliver better conversion rates. How do you test a hypothesis that is based on your gut feeling?

Josh Meah’s profit-driven CRO process starts with in-depth research, data-gathering, and analysis. We take the time to understand your product, service, customers, and competitors. We grasp your value-delivery mechanism and unique selling propositions before formulating the hypotheses that we’ll later validate through testing.

Here’s a comprehensive look at our 6-step profit-centered conversion rate optimization process:

Phase 1: Data Collection

This stage is all about gathering data to make the hypothesizing and testing process more informed. We collect data from three key areas.

Your Business

We work with you to find detailed answers to crucial questions, including:

• Why does your company exist?
• What are the problems you solve for customers?
• What makes you better than competitors—the unique selling proposition?
• What are your short- and long-term goals?
• What are the common pain points that might keep your visitors from converting?

The answers help us define the conversion goals, understand your positioning, and chalk out the optimization strategy that aligns with your brand and its goals.

Your Website

We conduct in-depth conversion audit of your website and glean information about the following areas:

• The numbers, sources, and on-site behavior of your current visitors
• The sale process or “customer journey” from start to finish
• The current conversion rates and revenues
• Your conversion funnel and marketing assets, such as social media pages, review profile, and landing pages
• Any data that might be missing from the analytics picture, such as customer calling records, refunds, or complaints

The data gathered from your website allows us to determine the problem areas in your conversion funnel that we test and improve during the subsequent stages.

Your Customers

Conversion optimization is not about numbers. It’s about people. We make every effort to get into the minds of your customers and find out what makes them act. For this purpose, we collect the following types of data:

• The ideal customer personas that your marketing department should have
• Segmentation data including demographics, geo-location, psychographics, media habits, and behavior
• The biggest objections that might keep your visitors from converting
• The common attributes of visitors who convert
• The common attributes of visitors who don’t convert

We use the best survey and research tools to get insight into the customer’s mind because that information is crucial for optimizing conversions.

Phase 2: Hypothesis Formulation

All the labor we did up to this point was for one purpose—to find out what we want to test and improve.

Other conversion rate optimization agencies jump straight into the second stage and start testing whatever feels right.

Josh Meah takes the time and makes the efforts to gather data about your company, website, and customers. We base the hypothesis we’re going to test on cold, hard numbers and not on our gut-feeling. As we said, CRO is a science and an art. You have to get the science right before you can apply art.

Each hypothesis that will be tested must address the following questions:

1. What are you testing? Analyze the data from the first phase and find out the most crucial element that you’d like to test. For example, if the data from the sales team indicates that customers place a high value on the guarantee or warranty, you might want to test a variation of your landing page that displays the desired information prominently.
2. Where will the test be conducted? Where would you place the element that you want to test? Would it be a landing page, a lead capture box, an email, a video, or some other channel? The place of testing will depend upon the stage in the buyer’s journey. For example, you may decide to test a different landing page for first-time visitors, who are likely to be at the information gathering stage.
3. Who are you testing? Different customer segments may respond differently to the same test. For example, repeat customers who are satisfied with their previous purchases are more likely to convert than first-time visitors. So, it’s important to know the type of traffic you’re testing.
4. When are you testing? The timings of the test are crucial, particularly if the sales cycle is seasonal or periodic. You should test at a time when you have more traffic, and the visitors are more likely to be in the right frame of mind to convert.
5. Why are you testing? Keep the conversion goal in sight at all times. At Josh Meah, we believe the ultimate goal of every conversion is to deliver more revenue. Your conversion rate optimization agency should go beneath the numbers and unearth how conversions impact sales and profits.

Now that you have a fact-based understanding of the hypothesis, you can move into the test design phase to answer the question: “How the test will be conducted?”

Phase 3: Test Design

In this phase, we plan the changes that we’re going to make. Our development and design teams create design variations for testing.

It’s a good idea to wireframe the changes and collect everyone’s feedback before going ahead with the execution.

We answer three critical questions after creating the variations.

1. Are the changes relevant to your hypothesis? It’s obvious that the change must directly test the hypothesis. However, the confusion and excitement of testing can sometimes overshadow the real goal of the test. If you’re not careful, you might find yourself testing many irrelevant elements that have nothing to do with the hypothesis.
2. Do the changes align with the goals of the brand and its stakeholders? For example, if you decide to test a badge announcing “Money Back Guarantee,” you have to make sure that the sales or finance department is on board with the change.
3. Are the changes practical at this time? Sometimes technical difficulties may render a change undoable within the stipulated timeframe. For example, you may need to implement CRM software before you can customize

Phase 4: Implementation

At this stage we’re ready to implement the changes and test the designs using one of the following tools:

Optimizely: It’s an enterprise-grade testing tool and allows you to run A/B split tests as well as multivariate tests. Features include easy editing access through the dashboard, goals comparison, intuitive data display, saved audiences, and easy integration with popular third-party tools.

Visual Website Optimizer (VWO): We use VWO for clients with a smaller budget. It’s inexpensive, incredibly easy to use, and offers very useful features like heat maps, click maps, on-page surveys, and personalization tools.

Google Optimize: It’s a great tool if you’re a fan of Google Analytics and don’t want to pay anything for testing. Google Optimize comes with a visual editor and customization features that you can exploit if you understand Google’s technical ecosystem and are prepared to learn through hit and trial.

Regardless of whichever testing tool used, you’ll need to choose who will see your test and what proportion of the total traffic will be routed to the testing page.  

Remember that the more complicated the changes, the more difficult and time consuming the testing. We recommend testing for one or two factors at one time and prefer A/B or A/B/n testing over multivariate testing, which can become too complex to handle.

Before you run the test, it’s important to double-check the variations on multiple browsers and devices and see that they’re displaying properly.

Phase 5: Monitoring and Improvement

The first question to ask after testing is: “Do the test results validate the hypothesis?”

If the test was successful and delivered more conversion, you can implement the new version across all of your website properties and start channeling visitors directly; instead of routing them through VWO or Optimizely.

You can also start sending 100% of your traffic to the new pages. Our development team helps you implement the changes and sets up conversion tracking. CRO is a continuous process, so we offer to stay by your side and keep suggesting further improvements after monitoring your conversion performance.

Phase 6: The Bottom Line

Most conversion rate optimization agencies stop at Phase-5, but as we said, all the clicks in the world mean nothing unless they convert into dollars.

Depending upon our working agreement, we provide full-service business consultancy, which includes brand strategy, marketing strategy, digital business strategy, and multichannel execution.

We re-imagine the value delivery process, analyze processes and cost structure, streamline communications, and help you increase revenues and profits continuously.

Start Earning More Profit

You have probably spent thousands of dollars getting visitors to your website, but are you among the majority of businesses that spend less than 5% of your marketing budget on optimization? Would you like to increase your ROI exponentially?

If yes, you need to work with a profit-focused conversion rate optimization agency. Schedule a free consultation with Josh today to discuss how you can convert more of your website visitors into paying customers.