The Science Behind Increasing Conversion Rates

blog_image

Conversion rate, or the number of people who visit your site and ‘convert’ by taking the action you want them to take, is an important metric that allows businesses to measure their profitability. It can also help you predict your success in the future, or point out inefficient strategies that could be fixed to improve the customer’s experience on your site. However, these aren’t the only reasons that drive businesses to increase their conversion rates. In addition to capitalizing on potential new customers, improving your conversion rate lowers your cost per acquisition. As a result, your brand generates more revenue, which you can then spend on other areas to expand your business and operations.

Increasing Conversion Rates via Forms

Many marketers believe that the right form has the power to boost conversion rates. However, there are many hidden truths you should be aware of to truly monetize this method. Here are the top five. 

  • The Number of Form Fields Matter, but Not in the Way You Think – Most guides state that fewer form fields are a surefire way to increase conversion rate. However, this doesn’t apply to all types of forms. According to FormStack, only 6% of users go through forms with an average of 19 fields. On the other hand, individuals entering a contest will tolerate 10 form fields with a submission rate of 28%. The best way to avoid the pitfalls related to the number of fields in a form is to weigh the amount of information you request from prospects versus the information you provide. For instance, if you’re offering a demo through 300 words of content, don’t ask your clients about their revenue.
  • Your Form’s Conversion Rates May Vary by Industry – How good your conversion rate becomes will vary by your industry. A 2012 Marketing Sherpa report indicates that survey forms of non-profits convert at 21% while media forms only convert at 7%. So take into consideration your industry as well as the individuals you expect to answer you.
  • There’s a Peak Form Submission Time that Depends on Your Form Itself – As it turns out, there’s a peak time for submitting forms. However, this depends on the type of form you offer. 
    • Contact: 3 pm – 5 pm
    • Contests: 1 pm – 3 pm and 8 pm
    • Donations: 12 pm – 3 pm
    • Events: 1 pm – 4 pm
    • Orders or Payments: 11am – 2 pm
    • Surveys: 10 am and 1 pm
  • Form Logic is the Best Solution for Increasing Conversion Rates – Smart forms are the smartest way to increase conversion rates as they determine which fields should come next and when depending on a prospect’s actions. The results of these forms vary, however, according to industry. For instance, 52% of the audience of the sports industry uses form logic effectively while only 19% of small businesses use them.
  • Using ‘Submit’ or ‘Subscribe’ for Submit Buttons isn’t Effective – The clearer you are with your button text, the more effective your conversion rates will be. According to Crazy Egg, ‘Submit Form’ resulted in a 5.33% conversion rate while ‘Submit Registration’ resulted in 18.72%. So make sure to clearly state what action the form requests from your visitor. Better yet, include a short note explaining what happens next, e.g. ‘Submitting this form will send your data to our online payment partner.’

Keep in mind that none of these methods are set in stone. Always A/B test your forms and improve them according to your results.

Increasing Conversion Rates through Site Elements

Aside from forms, there are many elements on your website that could affect your conversion rates. Use the following three tips in addition to the facts above and you’ll improve your conversion rates dramatically.

  • Include Your Goals in Your Site’s Footer – Each website has business and customer goals. You need to ensure that you web presence helps you achieve both sets of goals. According to usability tests by UserTesting, site visitors tend to scan page content before scrolling to the bottom of each page. If the footer doesn’t include call to action buttons, the tasks aren’t completed. Therefore, add all your aligned goals, e.g. schedule a free demo, sign up for a newsletter, email us, etc., to enjoy a 50% increase in your conversion rate.
  • Include a Pop Up Banner on Top of Your Pages – Contrary to what you’ve probably heard about pop up banners, even poorly designed ones can generate sufficient leads and increase your conversion rate. The trick is to send visitors to your resources page via the pop up banner. About 1 in 4 people are bound to click the banner, become a lead, and ultimately provide their contact information.
  • Use Thank You Pages for More Conversions – The best time to sell is usually after your initial sale. This is where your ‘thank you’ page will come in useful. Regardless of the purpose of your website (e.g. eCommerce), consider this page as the prime real estate to cross or up-sell. So, in addition to the basic ‘thank you’, include a call to action coaxing visitors to click links to your white papers or similar resources.

Increasing Conversion Rates via Mobile Landing Pages

Having a mobile optimized site will triple your chances of increasing your mobile conversion rate by 5% or more. With more Google searches taking place on mobile devices across the U.S. and nine other countries, it’s about time you optimize your mobile landing pages for increased conversion. Use the following five tips to get the best results.

  • Offer Quicker Mobile Checkout – To make your mobile site more likely to convert, keep your form simple and even allow guest checkouts. Also, offer one-click checkouts for returning customers.
  • Don’t Overwhelm with A Lot of Content – Smartphone and tablet users won’t be inclined to buy from you if you provide too much content. However, don’t reduce the content. Adapt the layout so that the most important information remains visible above the fold, i.e. the imaginary line at the bottom of the page prior to scrolling. You can also use video instead of text to prevent annoying your visitors by needing to scroll often.
  • Limit the Number of Images – The faster your mobile site loads, the better your conversion rate will be. Numerable large images will slow down your site and prevent you from delivering a great shopping experience. So aim to show only one featured image at a time and offer more photos on another page.
  • Ensure Smoother Navigation through Spaces – Buttons, links, and other clickable elements should be placed at reasonable distances to avoid involuntary clicks. This will control your drop-off rates since scrolling will be easier and the layout will be friendlier.
  • Create a Sense of Urgency – Most mobile users are window-shopping, but you can convert them through special offers. The simplest way to implement this is by offering a coupon that expires within a short period of time. With a great hook, this coupon will prevent potential buyers from heading to the competition.

By sticking to these rules, rest assured that your website’s conversion rates will improve and eventually increase your sales and revenue. So don’t wait any longer and implement them today!

schedule a call
Comments