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Whether you are planning on having a website built for your business or you are looking for ways to increase the sales being generated (if any) from an existing website the following information will be of enormous benefit to you.
How To Measure Your Success
The success of any website marketing or sales strategy can be
measured in terms of how many prospects exposed to the
marketing/sales strategy actually convert to sales. This
benchmark is commonly referred to as the conversion rate. The
current industry standard Conversion rate for a business website
is 1.8% or roughly 1 new sale or lead for every 100 website
visitors.
Amazingly enough research shows that the majority of business related websites fall below this benchmark. This fact becomes an even bigger issue when you conider that the standard conversion rate of traditional brick and mortar businesses is a whopping 48%!
The Elusive Profitable Website
There are however scores of business websites that consistently
achieve conversion rates of 10-20% and higher. Even an increase
from 1% to just 3% for an existing website would translate into
an incredible increase in sales.
The methods of achieving these kinds of conversion rates from your business website are Shockingly simple and well documented, they are just not commonly applied here's why?
Why Most Business Websites Fail Miserably
Website marketing & development even at this stage is still a
relatively new industry. The methods that create higher website
conversion rates are slow to be adopted because traditionally
website development has been approached from a technological
standpoint and not from a marketing and sales standpoint which is
the key to understanding these conversion boosting methods.
Designers and programmers, however talented and dedicated, simply do not know enough about professional selling. It's not where their talent lies. Yet building and promoting a website that doesn't "know" how to sell is like building a beautiful brick-and-mortar store with a confusing layout, stocking it with great stuff, but then not hiring any salespeople.
The Bottom Line
Ultimately, it's about the conversion rate: the percentage of
visitors your site can turn into buyers. Lots of dot-coms have
turned into dot-bombs because even though they spent ton of
money on "sexy" designs and ton more driving traffic to their
sites, they overlooked the tiny fact that they needed to sell to
visitors once they arrived at the site. The sad thing is, many of
those visitors would have bought happily and could have left
delighted.
Charles Preston is President of Click Respone a website design company that specializes in Business Website Design.
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