“An improvement of less than two-tenths of a percent in converting online prospects to customers increased revenues by $5 million.”
(From a recent Chief Outsiders engagement summary)
I’m only a student of online marketing, not a master. In recent weeks, I spent time with colleagues who ARE masters of online marketing and eCommerce.
I’ve seen how they work carefully on conversion — increasing the percentage of people who respond at each point in the progression from Aware, to Interested, to Engaged, to Buying, and Repeat Buying. Improved conversion often comes from discovering which offer, wording and graphic design make it easiest for prospects to “get” why the offer might be for them.
Below is an example of a very simple conversion map. (This one is for a pre-recorded educational program I marketed online a while back).
In an online environment, customer responses at each stage are typically quite measurable. A seller can test different offers and messages, see how prospects respond, and do more of what works. That data makes it easier to increase conversion online than it is offline.
Let’s say, though, that your company’s website plays a role in attracting and informing B2B prospects—but your transactions are done offline in the traditional ways. You can still increase prospects’ and customers’ receptivity to what you offer them and increase your company’s conversion rate. Assess where you are losing prospects that could have easily said yes.
If you’re like many companies, it could be for two reasons.
Two Ways to Lose B2B Prospects
Two Tips for Increasing Offline Conversion
To make sure that prospects are not missing the biggest value your firm can provide:
In these ways, you can demonstrate your value so that you don’t have to lower your prices to land or retain customers.
If your business needs to reach customers with messaging that speaks to what they most want to know, schedule a quick call with Bob Sherlock.