Have you ever wondered why some businesses or websites tend to generate more traction or views but fail to generate conversion rates and eventually start losing customers?
Or,
Have you seen some websites which generate fewer views, maybe a couple of thousand, but tend to generate more conversion rates?
- What is it that convinces people to buy something?
- Is it website optimization? Good branding? Implementation of popups?
We are here to answer that question to help you master the art of getting good sales.
Let’s talk about why businesses are losing customers and why they leave a website without making a purchase.
Let’s dive in right to the topic.
The Main Reasons for Low Conversion Rates
1. Poor Target Audience
One of the main reasons why businesses are losing customers is that they have not yet defined their target audience.
A simple formula like the statement under is a step towards increasing rates of conversion:
“The narrower your target audience, the higher is the conversion rate”.
Another reason which comes under “Poor target audience” is your niche. If people are searching for the product, say that has a high demand you can supply them by being in that niche. You don’t want to change your niche every once in a while. Branding also plays a key role in why the target audience is weak.
2. Web Design
Imagine yourself as a customer and the website as a store. If the store or product shelf is designed as if it was in such a way that it was made in 1990, chances are that your viewers will leave the website.
Web design plays an important role in generating views and conversion rates.
The simplistic design of your website is better as it helps viewers to navigate better through the site. Also, using good colors is extremely necessary. You don’t want to make the design ‘too colorful’. It will ruin your viewer’s eyes and their experience. Use colors that are appalling to the human eye. The ideal landing page should be easy to navigate as viewers tend to stay on a website for no more than 12.6 seconds. The first impression has to be good.
3. Not Providing Enough Value Through Your Content
Most businesses fail to provide higher value for their customers.
Providing value is extremely necessary. Making good content is also extremely necessary. Only with your content, you can separate your viewers and customers.
By not providing good value, you are:
- Decreasing your potential loyal customers
- Degraded value of your brand/business
- Lower conversion rates
- Lower recommendations
4. Poor Customer Service
How many times have you decided to change your telecommunication operator just because you had a bad experience?
It is reported that poor customer service offering companies lose their relevancy by up to 56%!
Again, most businesses fail to offer good quality customer service. The loss of customers is primarily due to poor customer service. Many huge companies have fallen deep down by not placing their customers above the pedestal of value. Providing good customer service building strong relationships with them is essential to not lose your existing customers and gain new customers that are loyal. There are several companies that were built entirely through good customer services delivered through PBX and VoIP systems, and with decent content which generate a lot of revenue to date. These were all the reasons why you are getting a low conversion rate regarding your content.
Let us now look at the solutions for all these problems.
How to Get High Conversion Rates: Solutions
1. Providing Free Content
Providing free content might contradict your intention of selling the product in the first place. But hear me out.
Whenever a visitor clicks on your website, convince him why they should buy your product by giving them value.
How to provide value?
You can provide value by giving them a free demo of the product, making a video about the product or even making content regarding the product.
It is not exactly necessary to provide a demo to all people. You can, for example, give a free demo of the product to people who subscribe to your newsletter or daily email list or sign up to your website.
What you can also do is provide discounts, say for example, for the first 5 signups.
Also, it is extremely necessary to have a target audience in order to get the full effectiveness of this step. If not done right, those signups might be a “dead subscriber”.
2. Conducting Giveaways
An extremely reliable method to get huge traction fast.
It’s a reliable method. In this, you, as said previously, provide a free demo to one or several individuals who do as you suggested. In order for this to work effectively, you need to add a CTA (Call-to-action) around your content. Ask them to sign up. Or ask them to share your content on their social media accounts. By this, you not only get recognized by a lot of people, you also build a certain amount of brand value.
Giveaway lets the people market your product.
If not done correctly, you can potentially get people who were just in the giveaway and not interested in your products.
3. Adding CTAs
CTAs are one of the primary sources of what drives a business.
CTAs can be anything ranging from purchase buttons, sharing post buttons, implementing popups, and so on.
At the end of your content, you can ask people to share it with their friends or family. This helps you to get people who are interested in your products or simply, to get your target audience.
One of the most reliable CTAs is popups. There are a number of popups like exit-intent popups, geo-targeting popups, free coupon popups, or demo popups.
Popups basically appear on a website that offers people to subscribe to a newsletter, sign up or even share with people.
Popups like exit-intent popups are known to increase conversion rates by up to 1200% and decrease bounce rates by up to 35% in some businesses!
Offering free coupons or demo popups can also help in increasing conversion rates. Offering free demos using popups is known to increase conversion rates or increase people revisiting your website. In this way, online businesses can effectively take advantage of popup technologies.
4. Offering Discounts
Offering discounts is also a great way to get high conversion rates quickly and stop losing customers.
Effective use of discounts can be done either by increasing discount rates or creating a sense of urgency. In this way losing customers is degraded to a large extent.
Offering discounts has a psychological effect on humans. By creating a sense of urgency around it people tend to buy more.
Influencer marketing is a great way to deal with discounts.
What is influencer marketing?
It is simply the promotion of any product using an already existing and popular individual on social media.
You might have seen several YouTube videos where an individual asks you to sign up to a certain site to get a limited-time discount offer of, say…30%. And if someone is genuinely interested, he will definitely sign up for that site.
Influencer marketing is best when offering discounts. This also means that you should know who your target audience is.
If your website is about exit-intent popups, you can’t just offer an influencer to promote your product who has an audience interested in beauty products. The thing you are promoting should be relevant to the influencer’s audience. Like, take the above example of exit-intent popups. You can promote them by an influencer whose audience is built around people who are interested in marketing and getting high conversion rates.
5. Offering Good Content
All the above steps will not be effective if the content is poor.
What does it mean to have good content?
Good content can increase conversion rates, brand value and everything that any business has desired.
What is good content?
It is simply providing higher value than expected.
What is good value?
Anything can be good value. For example, a good laugh, a reliable product, useful information and much more.
This is what it means to provide value and good content. That’s why you will find many people saying “Content is King“.
Conclusion
Many businesses fail due to poor target audience, poor web design, not providing good content and enough value and poor customer service.
There are several businesses that saw massive growth by having good customer service.
Having good customer service means that the business has the ability to listen to people’s demands.
This sets up a great company or brand.
In order to avoid losing customers, it is obviously necessary to have good customer service, providing free content through the 51-49 rule (51% free content and 49% paid content), conducting giveaways, offering discounts, and providing good content.
By doing all these one can avoid losing customers and in turn get high conversion rates.
What other problems do you face while ensuring that you are not losing customers? Do let us know.