Overview
Online conversion rates are one of the most important measures that any company can measure its effectiveness by. As more and more commerce goes to the internet, many small businesses now do a majority of their business online rather than in person. It is one thing for a business to do a good job of driving traffic to their site. Web traffic is an important measure and is something that every business should attempt to do better at. However, successful businesses in today’s economy must take the steps further in turning web traffic in to dollars through higher conversion rates. As more and more commerce goes to the internet and through web sites, knowing how to implement strategies for higher online conversion rates is one of the most important things a business can do in today’s business world.
Add Value Through Purchases
Perhaps the easiest variable that businesses can control when trying to increase the conversion rate that businesses have is to have a real value in the products that they sell. When customers know a high value product, they are more likely to purchase the products that they see on the web site. Although this seems quite easy, this is one of the most difficult yet simple things a business can do. When customers go to a web site they do not want to be attacked with cheap banner ads. Instead, lure customers to the high value products and have those products clearly marked on the web site for your business.
Give Incentive to Stay
One of the best ways to get customers to stay on your web site longer and to make more purchases are incentives. For example, if a customer puts a product in his or her online shopping cart and they leave without making a purchase, offer a ten percent discount if they follow through with their online purchase. Different incentives move the needle for different types of customers, but almost any customer would appreciate a discount on the merchandise that they are buying. In addition, if a customer starts to navigate away from the web site, a pop up showing different products that are on sale or others that the customer will be able to purchase can keep them on the web site for a longer period of time.
Reward Repeat Customers
Another great strategy that any business can implement in order to drive online conversions is to reward repeat customers. This may seem expensive, but businesses like Advanced Funds Network can help with needed capital. When a customer returns to the web site of a business they have purchase from before, the odds are much higher that they will make another purchase. This means a business increases its odds exponentially if they are able to get that customer back to the website. A couple of weeks after a purchase is made, offer that customer a five dollar off coupon if they make the purchase off of the web site. This simple fact can draw more traffic than any other web based ad. Studies show that people are far more likely to return to a web site if they are prompted to do so, like through an email with a reward center.
Final Thoughts
Investing capital and strategy to increase the effectiveness of a web site in order to drive online conversions is something that many businesses struggle with. However, Advanced Funds Network works with clients on capital needs in order to improve their business quickly. Online conversions are becoming more important every day as more business is conducted online, make sure yours is ready today!
