How Can Conversions Affect Your ROI?
-A business exists to make money. That holds true for online businesses as much as the bricks-and-mortar kind. Getting more customers and generating more sales is a goal most businesses share. One way those companies, and yours, can do that is with conversion rate optimization.
Conversion means moving from one state to another. In the world online of business, you want a visitor to make the conversion to a lead. Ultimately, you want that lead to make the conversion to a paying customer. By focusing your efforts on conversion rate optimization, you can boost your bottom line.
Here are seven ways conversion rate optimization boosts your profit margin:
- Reduce your cost per acquisition. As your conversion efforts increase the number of paying customers, your costs per acquisition will start to go down. That is because the cost of marketing is spread across a larger number of people.
- Increase visitors to your website. Optimizing your website for conversion also makes its more attractive to search engines. That means it will get more visitors showing up. Also, some of your new customers will want to share their new favorite business with others.
- Increase your profit per customer. As you bring up your number of paying customers, your profits will increase per customer because you are not dramatically increasing your marketing costs. You are just making smart changes to your website and marketing materials.
- Expand your marketing opportunities. As you focus on conversion rate optimization, so do your marketing opportunities. As you have more revenue coming in, you can increase your marketing budget for other types of marketing. You can start putting money towards branding videos, PPC campaigns, or anything else to expand the reach of your message.
- Gives you the edge on your competition. If your competition is not focusing on their conversion rate optimization, you can jump ahead. Once you get a slight edge, you will start reaping the rewards in more customers and higher profits. You have to stay on top of your conversion rate optimization efforts to keep ahead.
- Increase your repeat business. As you increase the number of customers you have, you are increasing the chances of a customer coming back to buy more. The optimization actually makes this more likely because you have fine tuned your message for your target audience.
- Improve the quality of leads you generate. As you focus your efforts towards improving your conversion rate, you will start to see the quality of your leads improve. That means that you will have a better chance at converting them into paying customers.
Your profitability will improve when you start concentrating on conversion rate optimization. Each step you take should have some impact on that all important bottom line. By the end of the year, the change will be remarkable.
If you want to learn more about the importance of conversion rate optimization and web design, download the free eBook:
Marketing Matters Inbound?is an inbound marketing firm specializing in online conversions, content?strategy, PPC campaigns and traditional media placement. Our experience in?B2B digital?marketing?and?traditional media?allows us to deliver results through a strategic media mix. We believe in?aligning and merging marketing and sales/operations for optimal return on your marketing investment.