If someone notices your product or service, it means they have entered your marketing funnel. But, what’s next? How do you pursue your prospects to turn them into loyal customers?
This is where conversion funnel optimization comes into the picture. It is built to target the potential shoppers that our ideal target is for your next advertising or marketing campaign. Instead of pouring people into the conversion funnel like in a traditional approach, the modern approach just attracts the shopper to the funnel and guides them to the next desired action.
So, when we look at the big picture, it is well understood that the conversion funnel is designed to improve profit and conversion in your business. It consists of smaller stages that contribute to improved sales with each step.
In this article, we are going to provide you with some highly effective conversion funnel optimization tips that will help in the endless growth of your business.
Analyze your landing pages
The first stage of the ecommerce conversion funnel aims at evoking interest in your potential audience. It has been largely possible with the help of social media marketing that gave the brands exposure and grew their brand awareness, loyalty, search engine rankings, and inbound traffic to boost the conversion rate.
So, to excel in this step, you need to test your landing pages as this is the first interaction the user has with your brand. Consider A/B testing the below-given elements to optimize your conversion funnel.
- Headlines and copy: You can analyze what attracts your audience the most by testing various headlines with the features and benefits of your products and services. While testing your copy, you can get an idea of which one helps your audience understand your brand in a better way.
- CTAs: They are the most important elements of your landing page that make your prospective audience transition into your customers at the end of your marketing funnel. Try including them more enticingly and conveniently.
- Color: The color theory explains the importance of various colors in the human mind. Try using colors with meanings that align well with the mention of your brand. Test different text and background colors to finalize the one that gives you the maximum conversions.
Note: Limit distractions on your landing page as they will take the attention of the user away from what’s intended for the landing page.
Monitor the right metrics
A well-built online conversion funnel cannot help you achieve desired results if no goal is set up for it. Head to Google Analytics and set up a goal. It will help you give insights into the key metrics focused on various conversion goals of your business, like revenue generation, engagement, and other activities.
Below are a few metrics that will help you track and measure the activity in your conversion funnel.
- Average cost per sale
- Monthly unique visitors
- Pages/visit
- Return on Addy pending
- Revenue generated per visitor
- Bounce rate and others.
These metrics, when analyzed over a certain period, will help you examine what is working, blocking, or leaking potential leads from your conversion funnel.
Once you have this information on hand, you can make further improvements in your conversion funnel and achieve a greater conversion rate.
Offer your customers a loyalty program
Apart from obtaining new customers, the conversion funnel optimization also aims at keeping them loyal and coming back again. So, to maintain lasting relationships with your customers, you must offer them something special for staying loyal to your brand.
It is when you can curate and offer an enticing loyalty program to your customers. They can leverage special member-only offers and discounts with it while purchasing from your brand.
Factcheck: 84% of customers, when offered a loyalty program, are more likely to stick to a brand.
It illustrates a mutual benefit in which even the customer is able to benefit while purchasing from you. This way, you can retain your customers and make them purchase more from your store.
Ensure checkout systems are optimized
You would be surprised to know that a business loses 7 out of 10 customers on the checkout page before they even make a purchase. It is like 70% of customers reaching the end of your conversion funnel doesn’t even convert.
Businesses can resolve this issue by making sure of some important things on their checkout pages. Some of them are listed below.
- Free shipping and returns
Including the shipping prices in your product prices is considered one of the best practices that you can apply. Moreover, a hustle-free return adds to the comfort of shopping for the customers of your brand.
- Skip the sign-up process
Stop making your customers sign up or register on your platform while they are on the checkout page. A study reported that 30% of customers abandon the checkout process due to the pop-up asking them to sign up or register. Instead, letting them create a user account automatically can help you lower the abandonment rate on your shopping cart. You should seek the help of an agency that can help you with such tasks, whether it is custom Drupal development or custom Magento development.
Display social proof on web pages
Showcasing your products along with some sort of social proof that displays the past customers’ memorable experiences with your brand. It would evoke trust in the customers’ minds and make them feel that your products are worth their money and time.
Factcheck: A study by Good news BrightLocal reported that 88% of customers trust online reviews and consider them as personal recommendations before buying a product.
Thus, adding such content to your product or landing page can accelerate the customer journey inside your conversion funnel.
Key takeaways
Conversion funnel optimization is not a task that you can finish in a day. However, of all the time and effort it demands, it’s all worth it in the end. All you need to do is to implement the above-given tips to your business, analyze what’s working for you and keep on improving the process. It will help you build a highly effective conversion funnel that offers you the desired results.
Author Bio:
Rajesh Bhimani is the Founder at Skynet Technologies, Website Design, and Development Agency. He has 21 years of experience in Technology and Marketing industry. When he isn’t working, you can find him cooking for his family or reading some fiction.