Maximise your Sales Conversions With This Simple 2 Phase Strategy.
If you have a marketing funnel, you have probably noticed that revenues for any one product can be inconsistent. Left unchecked this can lead to unforeseen sales slumps and, at worst, premature failure of a product or business. To avoid this, we maximise the revenue for a given sales funnel. How? In a nutshell, by promoting your business goals in the context of your customer’s goals. In this post I will show you, step by step, the system we use to maximise our clients’ revenue, one touch point at a time.
Define The Variables
No matter how much research you do into your competitor’s advertising and your customer’s preferences, you must test your assumptions and follow the data with no emotional bias to any factor.
In order to do this you must determine the variables of optimisation, these are just the variables that may affect the likelihood your prospect does what you want him to on a given web page, or in other words, the factors effecting the conversion rate. Focus first on touch points where you are under performing based on the industry standard conversion rate.
The variables to optimise are vast but there are a few factors that consistently produce better results one way or another. Here’s list to get you started.
- Saved vs. Lookalike vs. Custom Audiences
- Ad type
- Ad image colors
- Stock photo vs. an illustration
- Image text vs. no text
- Images vs. videos
- Colorful vs. light ad images
- Reversed ad image vs. original
- Facebook ad headline
- With emojis vs. no emojis
- Short copy vs. long copy
- Landing page copy
- Landing page image
- Call To Action button
- Campaign objectives
- Ad placement
The best way to get started is to model your direct competition’s advertising and tweak it to suit your own brand. You can do this by viewing their sales pages and advertising both online or offline. Then test the above factors to see what works best. In our industry; online marketing, simple, clean landing pages work best, particularly for opt ins to email marketing.
First things first though. You want to have a statistically significant amount of traffic to begin testing, you don’t want to overdo it though, if you have alot of traffic arriving at an inefficient web page you’re wasting precious attention. If your website is new, the best way to go about driving traffic for this testing phase is to get as much free traffic as you can and/or allocate a small paid advertising budget to drive traffic to the page(s) you want to test.
The best way to go about optimising your advertising is to systematically test one factor at a time, for clarity. If you have a big pool of competitor data to learn from and do thorough research on the preferences of your audience (more relevant to the offer but not trivial here) then you will have a strong footing on which to move your conversion rate upwards when you split test. Ofcourse, your customer research will be key when defining the first of three key questions when planning your optimisation.
What are the top 3 goals of your audience?
E.g. Overcome challenge/ Run away from fear / Move towards goal / Clear call to action / Avoid scams
What is your business goal(s) for the customer?
E.g Download document / Subscribe to email list / Purchase Offer
What are your transactional touch points?
E.g downloads page /blog/product page
Where your customers goals meet your goals is where the rubber hits the road and you can observe the traction of your actual offer. If you can successfully align your goal to the customer’s goal, they will do what you want them to and will enjoy the experience to boot.
Great copy speaks directly to the customers pain in the language that they complain about it in and introduce the business goal as the obvious solution.
When you split test variables at each transactional touch point so that you address your customer’s goals and lead them toward taking the action your business goals dictate, your conversions to sale increase with each test.
Start with the most valuable business goals.
To set the relative monetary value for each goal, estimate the actual value of each goal by taking a percentage of that goal’s conversion to sales.
For example; If you know 20% of subscribers converted to a sale and your average order value is £100 then you can estimate each quote request is worth £20 to you.
Test with clarity
E.g. ad image colour, image vs video, price shown vs no price shown.
Variable 1 : ___________
Variable 2 : ___________
This is where the testing proper begins. You want to clearly define the variables being tested and over what time period, to make sure you have clarity on the the exact parameters of the test. By focusing on the hard numbers you all but guarantee success by disregarding emotions and choosing the winning variable every time. You’d be surprised how many business owners think they know their market better than the data.
Tested Variable 1 Conversion : ____________
Tested Variable 2 Conversion : ____________
Conversion Percentage Difference:
Now you can revise the ‘tested variable’ according to the implications of the test results. With the winning variable recorded and quantified you can maintain or revise your sales funnel as necessary and include any other observations you noticed whilst testing that may warrant further investigation.
One great side benefit of recording this information and keeping it filed away is that in the future when you want to create a new campaign you can refer back to the best practises from old split tests. This saves you so much time and poetically optimises the process the next time so you can choose increasingly higher value variables to test. On top of that the data you generate will
That’s it. This is the process we use at Techtonic Media to revise ours and our client’s sales funnels. It takes time and patience but rinsing and repeating this process on the highest value business goals in your marketing and sales funnel will maximise it’s effectiveness and slowly increase your revenue.