If you’ve been running a small business for a while, then you are well aware of how important conversion ratio is. Because you are a small business, the customers who come through your door are super important for you and it’s even more important to get them to buy your product and keep coming back for more. This is how you build a customer base and find success in the long-run with loyal customers. Without a high conversion rate of visitors to customers, then there is no way that your business is going to succeed in today’s world.
However, you might be a bit confused about how you can actually increase that ratio to one that is good for business. Well, that’s what this article is here to help with! We are going to give you some of the top ways we know of to maximize your conversion ratio and keep those customers coming back for more. Keep reading down below to learn more.
1. Make Sure Your Value Proposition is Clear and Compelling
First off, we’ve got to talk about your value proposition. What are you actually offering to your customers? Why are you offering this specific product or service? What desires are you satisfying in your customers with this product? Do you even connect with the mission of your business? These are all important questions to answer if you want to get your customers to buy into your product or service.
It’s been shown over and over again that consumers are going to be much more likely to buy into a product when they are attracted to the value proposition. Your product or service should be something that customers can attach to and believe in. Be sure to think long and hard about this value proposition and ensure that everyone in your company knows this proposition and understands how to portray it to your customers.
2. Set Up A Sales Funnel
When it comes to getting consumers to buy your product or service, that doesn’t just happen all at once. It’s been estimated that it takes around 7 contacts before a customer is ready to buy your product. This means that you may be asking your customers to buy too early in the “sales funnel”. And if you haven’t heard about a sales funnel before, then it’s time that you get educated because this is an important way for you to increase your conversion rate.
Sales funnel is a process every sale undergoes in order to convert a prospective customer into a buyer. It starts with a customer showing interest in product/service once they land on a website or app. A chain of funnel helps businesses to analyze at which specific level they are losing prospective customers. Is it at the checkout page, payment page or the homepage itself? And, what are the possible reasons for it? If it due to non-availability of live customer support during the purchase then it would be a good idea to have a support team to close more sales.
3. Increase Trust Wherever You Can
You want to make sure that your customer’s can properly trust you if you want them to buy into what you are offering. Would you buy something from a website or a store that looks very disorganized, messy, and sketchy? Of course not! This is why you should ensure that your online site and store are organized, information is accurate, and everything is updated regularly. When you do this, customers are going to have a much more positive view of your store and what you are offering.
4. Address Your Customer’s Objections
Next up, that conversion ratio is going to be highly dependent on how you address your customer’s objections. Now, you probably are well aware of how important customer objection management is. Whenever someone reads up on your product or service, they are going to be naturally worried about whether or not this offer really holds up. This will raise plenty of questions in their mind that they will want answered before they sign on for your product and sign on that dotted line.
This is why objection management is such an important part of your company. All of your employees should be ready to face these objections and answer your customer’s questions without any problems. When this happens, these customers are going to be much more likely to actually buy your product or service.
5. Make It Easy To Buy From You
The next thing that you should think about implementing in your company to increase the conversion ratio is to make it easy for customers to buy from you. You might think that your sales process is pretty easy right now, but there are probably plenty of things that you can improve to get your customer more quickly to their shopping cart and entering their credit card information.
For example, you can offer free shipping when the customers hit a certain amount in their online shopping carts. This will ensure that they don’t have to click another box to add more money to their cart. Another shift that you can make in your business is to actually limit the amount of choices that your customer has to make. This is called the “Paradox of Choice”. You may think that when you offer plenty of choices for your customer that he or she is going to be more likely to buy something. However, customers get turned off when they have to make too many decisions. Cut down on the amount of decisions that they have to make and you will have a much higher customer conversion ratio.
6. Cut Off The Jargon
If your small business is absolutely full of jargon and business language that your customers don’t understand, then this is seriously going to hurt your conversion rate. Whenever you are trying to tell your customer your value proposition or when you are talking about your products, then cut out all of that jargon. Clarity is always going to win out over this type of persuasion if you want your customers to actually convert from being a visitor to being a loyal consumer.
Excessive use of jargon, has left many customers unable to relate to what a company is trying to sell and hence gradual loss of customers has landed many businesses for sale.
7. Communicate Value All Of The Time
And lastly, it’s crucial that you effectively communicate value to your customers whenever you are offering your products. You should be aiming to provide just enough information on your site and in your store that customers can convince themselves that your product is worth buying. You don’t want them to have to wonder why they are paying such a high price for a product that they need. They should understand that certain features of the product cause the price to be that high or that low.
When it comes to your customer conversion ratio, this is the most important number in your business. This is the ratio that is going to make or break your business at the end of the day. Which of these strategies have you already implemented in your business and which do you still need to look into?