Client conversion analysis… a key measure of marketing performance, is the rate at which potential customers take a specific desired action. In e-commerce or online marketing, customer conversion aims to progress prospective customers towards being paying customers.
A good conversion rate is above 10%, with some businesses achieving an average of 11.45%. Conversion rates are calculated by simply taking the number of conversions and dividing that by the number of total ad interactions that can be tracked to a conversion during the same time period. For example, if you had 50 conversions from 1,000 interactions, your conversion rate would be 5%, since 50 ÷ 1,000 = 5%.
Want to know how to create a sales funnel that converts like crazy?
Firstly let’s look at what is a sales funnel? A sales funnel is the process you lead prospective customers through. It starts the moment they become aware of your brand or products, and ends when they make a purchase and become your customer.
A typical sales funnel has four stages: Awareness, Interest, Decision, Action!
There are five steps to optimise the funnel for maximum conversion.
1. Research your target audience.
The first step to building a sales funnel is to research your target audience. You need to understand:
- What pain points do they have? (and what solution are you offering to help them)
- What are they interested in?
- What expectations do they have?
- Which social media platforms do they use? (where are your costumers spending their time on line?)
2. Create different buyer personas.
To create accurate buyer personas, start by asking yourself these questions:
- Why do they want to buy a product?
- How will they use the product?
- What inspires them to purchase a product?
- What is their budget?
3. Plan an effective lead generation strategy.
Once you have worked out your target audience, and created buyer personas, it’s time to focus on your website traffic and lead generation. You can increase traffic to your website and generate leads with the following methods:
- An UX Optimised website
- Pay-per-click campaigns
- Social media advertising
- Influencer marketing (think smaller over big influencers – local influencers can be more powerful).
- Search engine optimisation
- Landing page optimisation
4. Devise a strategy to engage and nurture leads.
After developing a strategy to increase traffic and generate leads, your next step is to engage and nurture those leads. To achieve this goal you can:
- Create useful, engaging blog posts (like this one!)
- Create informative, interesting videos
- Use social media platforms to promote your posts
- Have influencers create reviews and tutorials of your products
- Use email marketing to promote your content
5. Convert leads into paying customers.
The final step is to convert prospects into customers.To increase your conversion rate, make sure you make it as easy as possible for people to complete their purchases (think how to prevent abandoned shopping baskets!).
- Providing one-click signup and sign-in options
- Minimizing the form fields
- Simplifying your checkout and payment processes
- Add PayPal, Apple Pay, Afterpay as well as Credit card payment options
Need help? Sana loves to support Small Businesses. Check out the Small Business Support package here.