5 Common Money Burning Mistakes
That Sink Your Website Conversion Rate
You spend thousands on creating a great website. The designs are great, the copy is good. But does your website make you money while you sleep? Does it bring you a consistent stream of hot leads? Are you happy with your website conversion rate? Your product is great. It helps your clients solve a specific problem. Maybe you already have some good traffic too.
So you are wondering: what should I do to increase my number of leads consistently? You can do e-mail marketing, cold calling, outreach, chatbots… the possibilities today are endless. And you’ve probably seen hundreds of ads on social media telling you about the latest, easy-to-implement ‘hack’ that would skyrocket your sales IMMEDIATELY.
Well, we all know that this doesn’t happen. Increasing website conversion rate takes time, and it takes hard work. If you don’t offer your buyers the right solution in the first 5 seconds they visit your website, they’re gone. At the same time, your competitors are having their best months and closing more sales than ever.
Increasing your website conversion rate makes you money CONSISTENTLY without you having to do any extra work. We are going to show you the TOP 5 REASONS your website doesn’t make you money and how to fix them, so you can see results in the next 30 days (this is a proven method, not some ‘hack’ we just made up)
What’s a website conversion rate?
The conversion rate is the percentage of people who get in touch with you after visiting your website. This is one of the most important metrics you should look at because even if you have millions of people visiting your website every month if they don’t get in touch with you and become your clients, what’s the point of that traffic?
Increased traffic equals more sales, right? WRONG!
Say that you have 2000 monthly visitors on your landing page and you get 2 leads per month. That means your conversion rate is 0.01%. You simply have to increase the traffic of your website to get more leads, right? Well, actually no! The easiest thing to do is to drive people to your website. You can pay to get extra traffic of 5-10K per month and I am not even talking about buying traffic. I am talking about placing ads on websites, writing articles, etc. There are legitimate companies out there that can offer to sell you traffic.
The problem is that this traffic is not qualified – it can be my grandmother from Bulgaria, looking for something completely different than what you’re offering. Let’s say that you’d like to increase your traffic, so you can increase your sales.
Current monthly traffic: 2,000 visitors
Conversion rate – 0.01%
Average price: $3.000
Current profit: $6.000
Desired profit per month: $12.000
To achieve your goal, you need to spend money on advertising to drive these people to your website. You can also try to rank on Google organically, but this will take more than 6 months and you need to work with a professional SEO specialist to help you out.
Let’s say you want to increase your sales fast, so you choose to do ads. You’ll need:
Monthly traffic: 4,000 visitors
We’ll say the average cost per click is $2 (although it is typically between $5-$20 depending on your industry and the platform you’re using). So, you’ll need to spend around $8 000 on ads to get 4K new visitors. Since your profit is $12 000 and you spent $8 000 already, what’s left is $4.000 (your current profit per month).
Increase your sales by improving your conversion rate
Now, let’s say that you don’t have to spend money on ads every month, but you improve your current conversion rate. Let’s see how that would work out:
Your current monthly traffic: 2,000 visitors
Your current conversion rate – 0.01% (2 leads per month)
How about if we increase that conversion rate to 2%. That means that you’ll be getting 40 leads per month, without doing any extra work or investing in ads.
So, if you’re not happy with the conversions you get per month, keep reading, as we’ll show you the most common mistakes and the proven formula we used to get real results for our clients.
Why is my website conversion rate low?
There’re a couple of reasons why your website conversion rate might be low. From complex website copy to unclear next steps, uncompelling content, or a lack of reason for the potential buyers to get in touch with you. We’ve designed a scorecard to help you measure your conversion rate performance and provide you with uniquely valuable insights.
#1 NOBODY UNDERSTANDS YOUR PRODUCT
This is a big one. A lot of businesses don’t realize the scale of this problem and the fact that it is one of the most urgent things they need to improve if they want to grow their business.
A lot of businesses assume that their visitors can just figure it out by themselves. While they can be rocket scientists, if you don’t make it easy for them to understand what exactly is the thing you’re offering, you’re going to lose them immediately.
Nobody has the time to search your website to find out what you can do for them, how exactly can you help them, and what is it that you’re offering. If they don’t see the value in what you offer in the first 5 seconds, they’ll happily bounce and go to your competitor’s website.
How to know if your visitors understand your product?
You can check your website bounce rate (the percentage of people leaving the website after seeing the landing page) and the session time. Ideally, your visitors should be so intrigued about what you’re offering that they’d check your blog, your pricing page, etc. That would mean that you’ve got their attention.
We can’t assume that everyone visiting your website would become a lead but a good bounce rate is anywhere between 30-42%. And 2-3 minutes is a good average session duration.
The other tactic you can use is to show your website to a friend or family member who doesn’t know what you’re selling. Let them check the website for 1 minute and then ask them the following questions:
1. What’s the product?
2. What’s the main challenge it solves?
3. How can (the product) help solve the challenge?
4. Who else used it?
5. What’s the next step?
Take notes and identify what the main problems you need to communicate more clearly on your website are.
#2 YOUR VALUE PROPOSITION IS NOT CLEAR
If your visitors are very clear on what you’re selling and how it works, then let’s look at your offer and your value proposition. Your value proposition is the reason they’ll choose you to solve their problem and become a loyal client.
One of the biggest mistakes businesses make is that they talk a lot about themselves, instead of the ways they can help their clients. Your value proposition should have the sole purpose of demonstrating and articulating your value. It is the reason why they’d care to move forward within your sales funnel.
Your value proposition should include:
What’s the challenge you help your customers solve and how do you help them solve it?
What are all the benefits that are in there for them?
Why should they buy from you and not your competitor?
Your value proposition should be easy to understand and occupy a prominent position on your website, so your visitors can immediately see it.
Here are two value proposition formulas that you can use and place on top of your home page to ensure you get your visitor’s attention:
We help (target audience) do (the outcome) by doing (the process).
Example: We help SaaS and Tech companies increase their conversion rate by creating powerful video sales funnels.
Get (the outcome) by (date/number) without (add something that frustrates your clients).
Example: Increase your Conversion rate by 40% without doing split-testing.
Remember, your value proposition shouldn’t focus on the ‘how’, but rather on the ‘why’. Don’t get too caught up explaining the process, your visitors don’t care about that. They care about the desired outcome. Sell them on that.
#3 YOUR OFFER IS NOT COMPELLING ENOUGH
If you already know your target well ( and you should know them very well), then you’ll need to create an irresistible offer for them. Your offer should include a next step that is:
You want to hook your visitors and engage them. You don’t want to offer them your main product right away, because that’s the equivalent of proposing on the first date. Warm them up, show them your value by offering them something either free of charge or a very low-risk, no-brainer offer. For instance:
… the list goes on, but you get the idea. Since you’ve already created your value proposition, make this logical next step easy to see on your website.
In the last chapter, we’ll talk about how to create a no-brainer offer and close more leads consistently.
#4 YOUR CONTENT DOESN’T EDUCATE YOUR VISITORS
Here’s a shocking fact: 96% of people who are visiting your website are not ready to buy yet! Yes, 96%!
If only 4% of the people who visit the website are in the buying stage, why do almost all websites and ads scream “BUY! NOW”. The majority of people are not ready to ‘BUY! NOW”. Therefore you need to provide them with enough information for them to make an informed decision.
How do you do that? By creating valuable content for your audience. If you do it right, you’ll have an army of people desperately wanting to work with you. You’re the obvious choice, the expert they can trust. Get in your customer’s head, think about what their pain points are, what are the typical mistakes they’re making, what are their main concerns. But whatever you do – help, don’t sell! I should rather say, be smart and sell by helping. Not sure about what content to create? Download our cheat sheet.
#5 YOUR WEBSITE HAS TOO MUCH INFORMATION AND TEXT
This is one of the most common problems our clients have. We’ve already talked about how important your value proposition, offer, and logical next steps are, as well as how important it is for people to immediately understand what you’re selling.
But, this doesn’t mean that you need to put huge amounts of text blocks on your website. This mistake makes websites very hard to understand and with this information overload, you scare your visitors, instead of helping them. The information on your website should be clear and easy to understand. But how to ensure your value proposition is clear, your offer is explained and your products or services are well presented and articulated, without adding text?
THE FORMULA WE USE TO INCREASE WEBSITE CONVERSIONS BY 40%.
What’s the thing that makes complex ideas simple to understand, engaging to watch, and doesn’t waste your visitor’s time? The answer – animated explainer videos.
Explainer videos are powerful because they explain your process, products, and benefits in 60 seconds. They are engaging and keep your viewers’ attention. That way, your prospects immediately understand what you’re offering and are far more likely to convert.
In fact, 85% of users buy a product after seeing an explainer video about it.
Their product is great, but they were struggling to increase their sales and grow the company. After we did our research, we found out that although their website is sleek and modern, their visitors don’t understand how and why they should use their app.
Here’s the exact formula we used to improve our client’s website conversion rate:
1. We analyzed their competitors and saw what type of advertising they’re doing and how well their marketing performs.
2. We found a few gaps and we fixed them, creating an irresistible offer for their target audience.
3. We simplified the complex, making the app easy for people to understand with a fun and engaging animation.
4. We worked on the offer and made the value proposition crystal clear for their target audience.
The results were amazing:
1. A 30% increase in their conversion rate!
2. 30K new users of their app.
3. Over 1 million views on their ad, that generated tremendous traffic to their website (and since the website conversion rate was improved, the video helped them increase their sales)
All of that without having to spend thousands per month or rework their entire website
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6 TRUTHS No Video Production Company Will Dare Tell you
We can talk all day about all the little things you can do to optimize your landing page and make it convert better, but the number one takeaway here is this:
To make people buy from you, you need to get in their head, know what they’re after, what they need, how they behave. Then make an irresistible offer. Don’t scream ‘BUY.NOW”, instead create a compelling offer for them, educate them, make them feel like they are in good hands.
Forget about algorithms for a bit and focus on your customers. Articulate your value and how you can help them in a fun and easy to understand way and we promise you, you’ll see results.
If you have any questions or need any help with that, don’t hesitate to reach out.