Bringing traffic to your site is one thing – converting that traffic effectively, reliably and repeatedly is another. We help businesses throughout Scotland and around the world increase their value per visitor using a variety of techniques.
To improve your website’s value, you first need to understand your current website’s value. We measure value in ‘value per visitor’ or VPV because this effectively tells you how much money you can spend bringing new visitors to your website and still remain profitable. For example, if you have 10,000 visitors to your website in a month and you convert 2% of them to buy a product which makes you £50 revenue then you have 200 customers per month, making you £10,000 per month. Because you have 10,000 visitors, this translates into a value per visitor of £1. Not taking into account the cost of executing the sale, this means you can afford to spend up to £1 on adverts attracting new visitors (providing these new visitors convert at the same rates or better than your existing visitors)
Improving conversion rates
Improving conversion rates is firstly about understanding your customers. What drives them to buy? Why do they buy? This is more important that ‘What do they buy?’. Important techniques to follow to learn more about your customers are:
- Go where your buyers are – find their networks, see what they’re saying about your products and your competition
- Act like your buyers – go out and search the web, see what barriers exist, find what information exists/what doesn’t, find out what your competition does better than you
- Learn what your buyers believe and sell that on your website
- Run split-testing/multi-variate testing/AB testing – these are all the same thing really. It involves having multiple versions of one landing page and comparing which ones do best with different segments of traffic
Lead generation
Different techniques apply here depending on your sector, your product, your price point and your brand. If you have a high price point, you need to create a much softer lead-generation technique – for example, a PDF explaining best practices relating to your sector and what your customers want to achieve. Different sectors will require different lengths of lead generation – some may only need 1 contact with the customer, but many will require you to have multiple contacts with your customer (ideally mostly automated) so that when your customer is ready to buy they come to you.
Increasing value per visitor
Increasing value per visitor is achievable by increasing conversion rates, reducing bounce rates, increasing page views per visitor, adding additional products for your customer, adding value to your premium product, increasing social sharing, increasing word of mouth and many more techniques. The higher value per visitor you achieve, the higher your overall revenues but also the more money you will be able to spend attracting traffic leading to much faster growth rates.
Upselling
The art of choosing the right upgrade option for the right customer at the right point in time. Measurement is key here to discover the right price point and the right offering for the relevant customer segment.
Cross-selling
You have your customers attention – you’ve proven to them that you can solve their problem and that they can trust you. You can add value per visitor by recommending great related products to these customers which complement the product they are actually buying.
Affiliate marketing
It’s impossible for you to have every product yourself, but with affiliate marketing you can earn money by promoting other products sold by other providers. The key here is to ensure you go for quality. You don’t want to damage the trust of your customers by recommending products which have clearly just been chosen for their profit margin. If you choose products your customers really should have to complement your main product then you’re onto a winner. You can benefit here from brand association as well as adding an additional 20 – 30% onto your bottom line.
Increasing trust
Trust is of paramount importance to your customers. Actually, they want to Know, Like and Trust you. You can get them to know you by engaging with them through social media, email campaigns or regular columns on your site, you can get them to like you by having character, doing what you say you will do, and helping them with their problems and you can get them to trust you by becoming an expert in their sector upon whom they come to rely. There are other techniques for building trust of course, including testimonials from your customers, brand association, credentials, awards amongst others.
Increasing retention
You want your customers to come back time after time. The most important factor here is really the quality of your product, but it can also be quality of service or support. Give them what they need and crave and they will keep coming back for more and will bring their friends and colleagues.
Improving your sales funnel
Firstly, understand your sales funnel. You have 100,000 visitors per month. 10% sign up for your email workshop. 10% of them sign up for a product demo. 25% of them buy. That’s your sales funnel. Improving your sales funnel could involve increasing the length of it, decreasing the length of it, increasing the number of touch points, improving certain key milestones or any of a variety of elements. The most important part here is measurement. Once you have a clear understand and measurement of your sales funnel you will understand your pipeline and be able to predict accurately sales for next month, next quarter, next year. AB testing again is useful here at each touch point to increase the percentages of your users who make it to the next part of your funnel.
Squeeze and sales pitch pages
Your squeeze pages are where you sell your story. Why should the customer listen? Why should they trust you? Why should they sign up/join/buy? We use tools like Optimizely, unbounce and Google Experiments to measure and improve your squeeze pages. By sending traffic to each of your squeeze page variations you can measure and know which squeeze pages work best for your product/service per customer segment.
Inbound marketing
The equivalent of ‘warm leads’, inbound marketing has your customers coming to you at the time they are ready to buy. They ask questions around options and prices and make for the easiest sales. Building a good inbound marketing campaign is a combination of everything above – great lead generation, multiple automated touch points for your customers, leading through to manual/custom solutions at high value points or to the actual sales page when your customer is ready to buy.
Outbound marketing
Once you know which customers convert the best, you can go out and find them. We help with sales list building, adverts and web scraping and tailored and measured outbound campaigns to bring you the highest conversion and return on investment possible.
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