Your Conversion Rate Might Just be Kicking Your Arse!

Yes it is true, chimps do swing on trees. Then again that is besides the point.

Have you ever wondered why you might have a ton of foot traffic or even online traffic to your site, but the number of sales just don't add up? Now this is your conversion rate, for those of you who were not sure.

I'm sure you are aware of your own conversion rate and understand the importance of increasing that number.

Let's do some fun math before we get into the meat and potatoes.

Imagine a 25% increase on a conversion rate of 20%. Let's also say that you make $100,000 in revenue, your cost per average transaction is $1000, and you have 500 prospects all in one year.

Now let's increase your conversion rate by 25% which takes your 20% to 25%. Now out of 500 prospects, instead of 100 sales, you have 125 sales. Giving you a new annual revenue of $125,000. How would an extra 25k help your business?

I'm sorry for the math we all hate it, but I can tell you that those numbers look very pretty to me.

Increasing your conversion rates are as easy as understanding your USP (Unique Selling Proposition), changing a few headlines, or even picking up the phone faster. The key is to first understand your sales process.

There are many aspects which can be tested and altered to increase conversions within your sales process. Your job is to identify the missing loopholes which are now costing you an arm and a leg. Are you using the Yellow Pages, are you testing the ad copy? How are your representatives answering the telephones, are they welcoming or angry?

Sometimes I've had to literally call a business as if I were a customer to test this on different occasions. Try it, believe me you might be surprised what you'll find out.

Conversion rates are extremely important and overlooked. If you can just increase that number a little you will be in store for tremendous gains. Remember there are only three ways to increase your business; Increase the conversion rates, increase number of prospects, and increase the lifetime value (frequency of purchase).

Until next time - Take Care,

David Rosa

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