The average NetSuite small business is unaware of its conversion rate (that is visitors who become customers) on a page-by-page basis. In fact, they often accept whatever that rate is and instead focus on increasing traffic to improve their sales (marketing campaigns).
This typically results in frustration with and for those who are hired to help with marketing: email marketers, social media marketing experts, online advertising specialists, and search engine optimizers. If the conversion rate is low, the marketer may be doing an excellent job of driving traffic to a page, but the website owner won’t be happy. That’s because the owner will always use sales as the ultimate measure of success. Simple math reveals a clue to the ongoing frustration and the answer to its resolution.
A 1% conversion rate means 1 in 100 visitors will buy or start the sales process. So, if your AdWords campaign costs a $1 per click – you’ll spend $100 per sale! However, if you can move that conversion rate to 5% – you’ll get 1 in 20. The higher your conversion rate, the less it costs to acquire each customer. While improving conversion is the number one way to increase online sales, 95% of marketers and businesses continue to focus on filling the top end of the funnel (traffic).
My message: You don’t have to accept your default conversion rate. You can improve.
Here are 9 steps to set you on the right path:
- Create List 1: Identify 3 to 5 pages that deliver a good portion of your revenue. These might be top selling products, pages with special offers, etc. This is a little tricky and requires that you have setup Ecommerce within the Conversions section of Google Analytics. If that work has been done, you want to apply an advanced segment – use “visits with conversions”. Now you can visit the Content section >> Site Content >> All Pages. Look for the pages with common, non-cryptic names (pages you recognize and can work on within the Content Manager inside of NetSuite). Those are your top converting pages.
- Create List 2: Identify pages that have high traffic relative to your overall traffic – probably the home page, and 5 to 8 others that get the majority of your traffic. You can do this easily with Google Analytics – drill down to Content >> Site Content >> All Pages. Then, sort by Unique Pageviews (click those words at the top of the third column). Those are your Top pages for traffic.
- Compare both lists. For those pages with high traffic (from List 2), but no opportunities to buy, you’ll need to direct their visitors to your best sales pages (from List 1).
- For those pages that deliver customers, but aren’t among your top high traffic pages, you need more traffic.
- Setup Split Tests for each of your pages from List 1 above. You’ll need to create alternate pages for each. For NetSuite, we use Visual Website Optimizer to manage the testing process. The goal is to create alternates that beat your original pages for converting visitors into sales.
- Start by testing things like your headline, hook, or price.
- Wait until you reach statistical significance – Visual Website Optimizer will tell you. Then declare a winner and a loser.
- Immediately replace the losing page with a new alternate.
- Rinse and repeat, until you achieve the desired conversion rate. For us, that’s 10% or greater.
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9-Step Guide to Improve Sales for Your NetSuite Small Business by John-Scott Dixon is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.