Conversion Optimization
Are you watching your cost of acquisition climb, forcing your net profit to get slimmer and slimmer every years?
Maybe you’ve increased your spending on advertising to try to get more leads and ultimately close more sales.
This rarely, if ever, is a sustainable, long-term solution.
Conversion optimization is one of the fastest and most economical ways to boost your bottom line.
It’s often overlooked because it’s one of the least sexy strategies.
Most businesses focus on the latest and greatest new marketing channel.
The cost of all marketing channels is rising every year. This is especially true for paid digital media like Google Ads and other search engine pay-per-click, as well as advertising on LinkedIn, Twitter, YouTube, Facebook and other social media as more advertisers jump on board.
As the number of players bidding on keywords continues to increase, the cost will keep rising—making those leads that click on your ads more and more precious.
With these leads getting more expensive, it’s more important than ever that you turn as many of them as you can into paying customers.
There are a number of elements in the lead funnel that are candidates for optimization:
- Ad copy
- Ad image or video
- Landing page copy
- Landing page images or video
- Offer
- Nurturing campaign
What’s a good conversion rate?
There’s no one-size-fits-all answer for that since the rates vary widely by industry. Conversion rates also vary at the different levels of the marketing funnel.
A 2019 survey from Wordstream, measuring the conversion rates for landing pages across industries found the median rate was 2.35% while the top 25% was 5.31% and the top 10% converted 11.45% of visitors.
When they segmented the numbers for individual industries, the numbers for the mean ranged from 1.84% to 5.01%. However, the ratio between the median, top 25% and top 10% were fairly uniform.
The top 25% consistently doubled the mean, and the top 10% outperformed the mean by 3–5x or more.
While it’s a given that you only convert a percentage of leads from each step of the funnel to the next, doubling the number of people who convert from your landing page will roughly double the number of sales you’re currently making from that channel.
If you increase the conversion rate at each step of the funnel for each of your marketing channels, you could can explode your revenue by 10–20x and higher—without increasing your advertising budget a single penny!
If you’re having trouble maintaining your net profit margins, or you want to grow your customer base without spending a fortune, conversion optimization is the answer for both.
We know how to recognize the symptoms, identify the underlying issues and help you optimize your marketing funnel to accelerate sales and drive more profit to the bottom line.
Send an email to info@turnaroundtwins.com or give us a call at 214.414.9014 to set up a free, no-obligation, one-hour call to discuss what’s going on and how we may be able to help you change the trajectory of your company.