Identify the Biggest Opportunity – Conversion Wednesday
Chris C. July 11, 2012How can you Identify the Biggest Opportunity on your website??
Traffic: Identify the Biggest Opportunity
The goal of testing is to make more money with the same amount of traffic that is already coming to your website. So, the trick is to start with what is already working.
Tip: When testing, your biggest area of opportunity lies where you are currently generating the most revenue.
This is counter-intuitive to acquisition strategies like SEO and PPC. When you start as a small business, your opportunity usually lies in areas of the market that you aren’t reaching (either starting a PPC campaign or targeting specific organic search terms to take something that has less to get more).
With testing, we want to find where the majority of your sales are coming from and then improve those areas. A 10% improvement on an area of your site that generates 70% of your business is a lot more than a 10% improvement on an area of your site that only generates 30%. This reduces the time required to run a test and ensures that you are getting the highest return for your efforts.
Comments (2)
You guys have been extremely helpful to me, thank you!
I sell downloadable construction forms and some are more popular/needed than others. So those items have a greater conversion rate. Others of the forms are needed but not as badly as the best converting ones. How can I apply the conversion lesson on this page to my situation?
Thank you!!
Diane
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Hi Diane,
Thanks for the comment, we’re glad you like our blog! Sorry for the hiccup in getting your comment approved.
To answer your question – you can apply the tip in this blog post to the scenario you outlined by prioritizing your time on the construction forms that are the most popular and already have the highest conversion rate. As Chris suggested in his post, this may be counter intuitive, because it may seem better to prioritize your time to construction forms that perform the worst, not those that already perform well…
But – there is a reason why certain construction forms that you sell are the most popular. Perhaps it’s because the largest demand exists for those construction forms, or because the perceived value those forms offer is unusually high compared to your competitors, or some combination thereof. So take advantage of that and leverage it to full advantage.
Chances are – regardless of how many of those forms you are selling, you could be selling a lot more. You can use analytics to figure out how many of those who visit the product page for your most popular forms actually buy them, and focus your energy on getting them number as high as possible. For example, if you convert 5% of the people who browse to a particular form into a customer, focus on increasing that conversion rate to 10%.
After looking at your website, here are a few examples of what you can test to drive more demand for your popular forms:
1) Highlight best sellers more prominently on your homepage
2) Consider simplifying your navigation to prioritize your most important sections / forms versus giving each section equal weight in your left-hand navigation (if 20% of your products compose 80% of your sales, make sure it is very easy for shoppers to find the 20% and that you don’t clutter things up too much)
3) Take the time to update the product page for popular forms to have content that would be useful to potential buyers (like testimonials, answers to common questions, etc).
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