How to Increase Your Conversion Rates
Everyone wants’, no what I really should say is “needs to” keep increasing their conversion rates. It’s one of those continual online battles. And the math is pretty simple; more conversions equal more money.
But how do you increase your conversion rate?
Well let’s start at the basics and go from there. First before you can sell anything online you need to determine who your customer is going to be, what they want to purchase and why are they purchasing it in the first place.
The biggest mistake many people make is they start selling to their customers before they fully understand their customer. Everyday marketers waste a ton of money promoting what they think people want instead of selling them what they actually want.
There are specific stages from the time you find a product or service to the time you actually buy the product. Every potential customer, including yourself goes through several steps before you buy and this is called the “purchasing life cycle”.
The 3 phases of a purchasing life cycle are….
1) The “Research Phase”
Most people will take the time to learn about a product or service before they buy, sure there are impulse buys but most people like to learn about any product before they buy. And they get this information through different mediums, such as radio, TV, magazines, print ads, billboards and referrals from friends, just to name a few.
And once they have gathered the preliminary information on their product or service they head to the “information highway” the internet. This is where people do the majority of their research, and why not, you can find almost everything on line with one simple search on Google.
2) The “Decision Phase”
There are two types of people in this phase. First there are the people that absolutely know what they are going to buy, and they will go and buy it right away. Then there are the majority of people that will go through the decision phases checking out other products and services to see which the right one for them is.
Now as the good internet marketer that you are, this is where you can intercept these potential buyers and influence their decision by providing a personal opinion or comparing other products and services to the one they are thinking of buying convincing them to buy that product or service from you. You see this all the time with Review Sites.
And the final phase is the “Action Phase”.
You can even call this the profit phase. This is where the rubber meets the road sort of speak. This is where you make your money, and when someone is in this phases it is very hard to deter them from purchasing.
They have done there research they have decided on the product or service and now it’s time to spend some money.
And it’s in the Action Phase where you want to catch people.
So how do you do that?
Ok let’s say you are selling golf clubs on line and the traffic you are getting is coming from keywords like “golf” or even “golf clubs”. I can tell you right now your conversion rates will be horrible.
Because you are catching people way too early in the purchasing life cycle, these people are still in the research phases and they are not ready to buy. They are going to do more detailed research before they buy.
Ok lets’ catch them further into the purchasing life cycle. So now it’s your turn to do some digging, you already know that “golf” or even “golf club” are low converting terms so let’s dig a little deeper.
After a little more work you see that people are looking for putters and drivers, but even these are too broad of terms as well. People will still be researching brand names, what they are made of, reviews and so on so. You have to keep digging to find people in the Action phase of the purchasing life cycle.
So now you dig even deeper. So after more digging you discover they are a whole “whack” (sorry for the pun) of people looking for a Ping G15 Fairway Wood. This is a laser targeted customer that is a serious buyer.
How do you know she is serious? Simple, she has done all of her research and is at the tipping point of becoming a buyer.
Buy refining your search terms (keyword phrases), and thinking like your customer when doing a search for a particular product or service you will naturally increase your conversion rates by catching people later in their purchasing life cycle.
Now you take your long tail keyword phrases and use those in all your advertising; such as classified ads, article marketing, PPC, etc.
By doing this you are following the natural steps your customers will follow, and your conversion rates will soar.
I believe in you