Increase Conversion Rates

How do I/we increase conversion rates? That’s the question of the day, isn’t it? Or is it? Okay, enough questions. Let’s sell more.

Product

Product iterations assist with the increasing of sales. If your product is better than the previous version, it’ll likely sell in exponential numbers to both existing & potential customers. That being said, price increases sometimes offset sales. Still, having better goods and/or services), naturally, help to improve the bottom line, all factors equal.

Focus

You might have noticed in recent years that, while storytelling (i.e., emotionally connecting your product to a target audience) continues to have its place, the focus has shifted from selling multiple products (or multiple categories of products) to a single product. The Web had (and continues to have) virtually everything to do with this, and it’s the reason why landing pages have inevitably become commonplace.

The e-commerce industry, as always, utilizes discounts as the primary driver for sales, but now, in some cases, needs to concentrate on a singular product and its associated marketing efforts. Influencers will often promote it directly through their videos (typically on video-sharing platforms), industry experts will re-sell them via trade shows, and affiliates (if an affiliate program is in place) will market them through their independent websites.

In sum, any online traffic is ultimately directed or re-directed to that particular landing page, whether or not distributors mark up the costs (as a final distribution to their customers).

Pricing

Pricing changes outcomes… drastically. Priced too high, the market reverts to competitors. Priced too low, you don’t profit; and even if you do (at a lower price point, that is), potential buyers, in rare cases, may be turned off (in industries generally offering high-ticket items, for example). So, whether demand is low or earnings don’t allow for growth (i.e., net profit, funds for continued product development/iterations/upgrades, increased hiring, etc), things won’t work out.

Conclusion

Sales are occasionally (positively) affected in abstract ways. Viral word-of-mouth marketing, while real, is not a regular occurrence… and, is, therefore, not driven by a defined set of factors. The formula is typically of an artistic nature that happens to resonate with people on a grand scale. It could even spawn into new markets, if powerful enough.

As marketers, we take traffic where & when it comes, but if you want something measurable (as far as analytics are concerned) and more realistic for most brands, then, traditional methods should be your go-to. We’re not saying that going viral is wishful thinking — just that it shouldn’t be your priority.