This post is part of a series about the Internet marketing strategy I call Inbound Marketing, and is also part of a sub-series about the preparation that goes into a successful Inbound Marketing effort. To access those articles, click either of the links in the prior sentence.
The prior post was about how you measure conversions using Google Analytics. This post focuses on the concept of conversion ratios, what they are and how you know.
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The example from the prior post is a two step conversion process involving three GOAL URLs:
Goal URL #1: www.acme.com/success-stories
At the end of every blog post there will be a Call to Action (CTA) suggesting the website visitor review your client success stories. This will take them to the landing page whose URL is listed above.
Goal URL #2: www.acme.com/contact-us
At the end of the landing page there will be a CTA suggesting the website visitor contact you to see about engaging your services. This URL load the Contact Us form.
Goal URL #2: www.acme.com/thank-you-for-contacting-us
After the Contact Us form is submitted, another page is loaded which is a different URL from the Contact Us form. I call this the Thank You page.
Of all the visitors who come to your website, what percentage of them visit the Success Stories page?
What ratio do you want? At least 2%. If your conversion at this step of the sales cycle is less than 2%, you have a serious issue of some sort. 2% is a low bar to hit and you should easily exceed it. See below.
Of all the visitors who load the Success Stories page, what percentage of them load the Contact Us form?
Here you again want AT LEAST a 20% conversion rate. If yours is lower than that, you have an issue. See below.
Of everyone who load the Contact Us form, you want at least 50% to be serious enough to fill it out. If that is not the case you have a problem. See below.
How many website visitors per contact?
In the example above, notice that the first step targets a 2% conversion rate, the second step a 20% conversion rate, and the third step a 50% conversion rate. That means having one person submit the Contact Us form requires 500 website visitors. So if you want a quality lead a day, you need to attract 15,000 monthly visitors to your website.
In the next part of this series I’ll tell you how to do that.
If Your Ratios are Low?
If your website conversion ratios are low, what does that mean? It could mean one of several things. Determining which is beyond the scope of this series, but you need to figure it out to be a viable business.
- Your product or service is just plain unappealing. People are not interested in buying what you’re trying to sell.
- Your success stories are not compelling enough. People have an interest in buying what you’re trying to sell, but not from you.
- Your story telling is not working. You can have a great product or service, and a great track record of success as a business, but tell your story so poorly that website visitors don’t see it.
Although how you figure out what’s wrong is beyond the scope of this article series, you MUST do so.
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