A website’s conversion rate is defined as the ratio of visitors that perform a successful action on that site. When a user opens the link to your website, it is called a visit, and when that same visit results into a purchase or a business deal, it turns into a conversion. For an online business or website to be termed as successful, it needs a higher conversion rate at all times.
While it is important to stay ahead of everyone else, in instances where you experience a plummeting conversion rate, you must take action immediately. Despite the technical failures or market variations, one should always investigate the cause before jumping to a conclusion.
Read on below to find out some immediate actions that you can take soon as you spot an initial decline in your conversion rates:
1. Find the Source
The first thing you need to check is the source that is causing the drop. Most of the sites see an immediate traffic drop, which leads to lesser conversions but if you notice the same traffic trend, then there may be a problem with your website. Run a complete scan over all your webpages; test the checkout process and see whether your site is working on all devices and browsers correctly. Alternatively, if this is because of a traffic drop, find out if any of the related search engines are down or whether your site ranking has plunged below other sites.
2. Examine all your Acquisition Channels
Acquisition channels are sources that help bring site visits to your website. They not only bring new customers but also open pathways for higher conversion and profits for your business.
In such an event, analyse all your acquisition channels to see which one(s) is causing the decline. Maybe any of your social media channels is not well updated, a competitor is outdoing your strategies, or perhaps you need an SEO boost on your website. Examine everything in detail and find the weak points that are doing most of the damage. Also, check with your marketing team to see whether they are bringing more innovation to the social and internet marketing campaign. If that is the cause, you can hold your staff accountable and take services from any of the best digital marketing services company to bring the conversion rates back up.
3. Check if it’s a Seasonal Change
After busy seasons like Valentines, Christmas, Thanksgiving or New Years, the shopping spree usually settles down a bit. If you notice a conversion drop right after these months, know that your customers haven’t gone anywhere, they are just not willing to shop at the moment. They may be browsing and visiting your stocks but not ready to spend any more of their money. Therefore, think of this as a seasonal change and move on.
4. Time for a new Marketing Plan
Many businesses who run the same marketing strategies for years tend to lose customers over time. If you experience a change in the quality of your incoming network traffic, maybe it is time for a new marketing campaign. You can try to bring innovations with the existing plan, come up with new content or test the latest technology platforms for a change.
5. Test your Technology
Almost 40% of the online customers who visit websites are in a rush. When they encounter slow websites, faulty software or half-loaded webpages, they exit the sites even before it loads. This is the sole reason why most of the site visits never turn into useful conversions. To fix this, make sure all your technology and pages are working. The server issues, forms, webpages all are fully functional and don’t test the patience of customers. Thoroughly test everything to bring back your conversion rates.
With an extremely fluctuating market, you must know that varying conversion rates and network traffic are a normal thing to happen for any website in today’s time. These market changes should not only be respected but also be tracked at all times. Besides that, the business owners must always keep themselves updated with Google Analytics, their competitors’ progress and their own site’s workings in case of any irregularity.