Have you noticed that despite an increase in website visitors, your conversion rate remains stagnant? These visitors may be taking some action, but not the desired one. This might raise doubts in your mind about whether they are genuinely interested in your offerings or if they have any inquiries.
If you can relate to this situation, you're not alone. There are numerous proven conversion strategies available to boost your sales. And guess what? We've got you covered with the top 15 tips to improve your conversion rate, complete with real-time examples.
Let's dive in and explore! What is a Good Sales Conversion Rate?
A good sales conversion rate refers to the percentage of website visitors who not only browse through your content but also convert into leads, customers, or clients. Generally, a conversion rate above 10% is considered favorable. Some companies even achieve conversion rates above 10%, with a small percentage going as high as 11.45%. However, the average conversion rate varies depending on several factors.
Does the conversion rate differ based on the industry?
Yes, it does. For instance, e-commerce conversion rates tend to be lower compared to those in the finance industry. However, it's worth noting that companies in the top 10% achieve conversion rates almost five times higher than the industry average, regardless of the industry.
Moreover, comparing your conversion rate to the average conversion rate across all industries can be misleading, as it may give you a false sense of doing better than you actually are.
The truth is, the top 10% of companies achieve nearly five times better conversion rates, outperforming your rates. The question is, how do you reach that level?
Keep reading because you're about to find out!
How to Calculate Sales Conversion Rate?
You can calculate the sales conversion rate by dividing the number of sales you made by the number of leads you acquired, and then multiplying the result by 100. Let's simplify this further:
Conversion rate = (Number of sales / Number of leads) * 100
Each step a visitor takes from one stage to the next represents a conversion, and the efficiency of this process is called the sales funnel efficiency. Let's understand this with a real-time example.
Let's say you had 150 leads last month, and out of those, you made 50 sales. So, the conversion rate would be: (50/150) * 100 = 33%
Therefore, your sales conversion rate for last month would be approximately 33%.
15 Ways to Improve Sales Conversion Rate in 2023
The ultimate goal of any business is to achieve high sales conversion rates instead of sticking to a stagnant metric. But how can you improve your conversion rate? Here are 15 steps to increase your sales conversion rate in 2023:
1) Target quality leads
Instead of focusing on converting leads with no interest, fill your funnel with quality leads. This enables your marketing campaigns to concentrate on turning these leads into fruitful customers in the future.
2) Implement exit-intent popups
Exit-intent popups, which appear when a user's mouse hovers over the browser's 'back' button, can result in a 30% increase in conversion rates. Use these popups to display urgent messaging, offer special discounts, or entice visitors to stay on your site and take action.
3) Build trust with social proofs
Establish trust by showcasing customer reviews and testimonials on your site. Since 93% of potential customers read online reviews before making a purchase decision, social proof significantly impacts your sales conversion rate.
4) Interactive demo software
Instead of just talking about the features and benefits of your product, let your prospects try it themselves with an interactive demo software on your website.
Interactive product demos provide a hands-on experience, engaging customers and addressing their specific needs, ultimately building trust, increasing understanding, and boosting sales conversion rates.
5) Adjust your CTA
In order to achieve high engagement rates and successful conversions, it is crucial to strategically plan your calls-to-action (CTAs). These CTAs should be highly visible, easy to understand, and strategically placed on your web pages.
Your CTAs should guide visitors towards taking advantage of your offerings. Make it clear where they will be directed when they opt-in for a specific offer, such as a free trial period or a money-saving coupon code.
6) Cater to user expectations
Put yourself in the shoes of your users. If they are drawn in by your headline and decide to read your blog or explore your website, will they continue if they don't find what they're looking for?
The answer is likely no. In fact, they might exit your site and not return. This negatively impacts your sales conversion rates. That's why it's crucial to cater to your users' expectations. Ensure that your headline and the content align and cater to their preferences for better conversion rates.
7) Strategize your signup forms
Friction is one of the main reasons users don't convert. It occurs when users hesitate to take action on your site. For example, if your form is too long and requires a lot of detailed information, prospects might hesitate to complete it.
By eliminating unnecessary form fields, you can build confidence and increase your sales conversion rate. Shorter forms foster trust, and when people trust your brand, they are more likely to do business with you.
8) Optimize your site for mobile
With people increasingly using their mobile devices for various activities, including browsing the internet, it is crucial to have a mobile-friendly website. Slow-loading content can make customers decide whether they want to continue reading or move on to another article or video.
To convert visitors into customers, it is essential to have a mobile-responsive website that caters to their needs immediately.
9)Conduct A/B testing
A/B testing is a powerful technique to increase your website's conversion rate. Whether it's for landing pages or a new website design, A/B testing allows you to compare different versions and determine which one converts better.
You can test various elements such as CTAs, buttons, headlines, images, and more. By experimenting with different variables, you can make data-driven decisions that significantly impact your conversions.
10) Harness the power of chatbots
If you struggle to convert a fraction of your website traffic into leads, it's possible that visitors have questions or concerns about your product or service. How can you cater to them around the clock?
Chatbots have proven to deliver a substantial return on investment with minimal investment. Implementing live chat allows you to quickly address customer doubts and guide them towards a purchase decision, thereby increasing your sales conversion rate.
11) Create focused landing pages
When designing your landing pages, it's crucial to curate them carefully. Your users should be directed to the call-to-action and not be distracted by irrelevant elements. Avoid adding excessive multimedia, pop-ups, or unrelated links that may divert their attention.
Remove any unnecessary elements that distract users from their intended action. Keep your landing page simple and focused, highlighting only the elements that encourage users to click your CTA.
12) Refine your offer
Take a step back and objectively evaluate your offering. Why would people be interested in your offer? Are the benefits of your services clearly highlighted, enabling potential customers to understand how they can benefit from them?
Consider what additional value you can provide to make it even easier for leads to convert. This could involve offering complementary services, bonuses, or exclusive content. Providing dedicated support and onboarding calls can also add value and help establish a personal connection with your leads.
13) Retarget your prospects
Nurturing prospective customers over time increases your chances of converting them. Just because they didn't convert immediately doesn't mean they aren't interested. Retargeting ads can deliver relevant content and products to them without overwhelming them and potentially jeopardizing a potential sale. By retargeting, you can guide them closer to taking action.
14) Invest in content marketing
Investing in an effective content marketing strategy allows you to reach potential customers without depleting your resources. The value of your content is crucial. Instead of bombarding visitors with advertising, focus on creating high-quality and optimized articles that provide value.
Start with simple newsletters for new leads or create beginner's guides. As your relationship with customers develops, you can progress to case studies for loyal customers.
15) Nurture your leads
Not all leads are created equal. Some are warm leads, while others may not be interested yet. Lead nurturing is a systematic process where you identify leads and their level of interest in your product or service. This allows you to prioritize the most promising leads for direct sales efforts while keeping others engaged.
By targeting specific leads, you gather accurate client data, accelerate the buying cycle, and ensure a smooth experience for all involved.
Small changes can yield significant results. There are countless ways to increase conversions, but it's crucial to be flexible and willing to test strategies that suit your audience, goals, and product. One effective method to build trust and facilitate action is by utilizing Supademo, an interactive demo software. With Supademo, you can capture leads and convert them into customers by providing demos that showcase your product's features and highlight its value.
By leveraging Supademo, you can establish trust with potential customers and enable them to take action without leaving your site.
To learn more about how Supademo can boost your conversions, schedule a free demo now!