A clear majority of businesses have a website, and many marketing teams are focused on sending traffic to that website to discover your brand and engage with your product. But if this increase in traffic doesn’t seem to produce the uplift in sales activity expected, you may have a problem with your website conversion. Arguably the most important part of any marketing strategy, conversion embodies the process of turning website traffic into sales-ready opportunities, entering your buyer pipeline. If you’re keen to increase the sales leads gained from your website, you need conversion marketing.
What is conversion marketing?
Though most marketing processes aim to convert prospects into leads, conversion marketing focuses on your website, asking how this vital brand asset can bring your business heightened success. In an ideal world, every business visiting your website would find your brand and product so valuable and exciting they quickly complete your call to action, putting them in direct contact with your sales team. But this isn’t an ideal world, and organizations need to carefully strategize their marketing processes to properly optimize their website for increased conversion rate (also known as conversion rate optimization or CRO).
As every business want’s increased sales activity, it makes sense for every business with a website to employ a conversion marketing strategy. With 94% of B2B buyer journeys starting online, this marketing approach has become essential for organizations of every size and sector, ensuring visitors are instantly engaged and persuaded to convert before researching competitors. Though conversion marketing can take time to properly develop and implement, there should be no question about adopting this strategy – here’s why.
Why is conversion marketing important?
Maximize your current marketing assets Every B2B marketing team is keen to reduce their lead acquisition cost, maximizing current campaigns to increase the results gained with minimal investment. This is precisely what a conversion marketing strategy aims to achieve with your website. This online hub of brand activity is already established – your business already pays ongoing costs to keep this medium running. Choosing not to effectively adjust your website to increase conversion can only be described as bad marketing.
Once properly implemented, a conversion marketing approach brings your sales team additional new business opportunities for minimal cost. As nearly every online marketing venture, from email to social media, drives traffic to your website, focusing your efforts on optimizing this platform increases lead generation results across the board for heightened marketing success. Your website is the foundation of all online marketing channels, continually influencing their results; a conversion marketing strategy is important, because it feeds into the yield of your entire department, maximizing what you already have to achieve incredible outcomes.
Measure and improve your lead quality Whilst gaining an increased number of sales opportunities is exciting for B2B marketers, ensuring these leads are high-quality is also essential; your sales team will soon get frustrated if they lack opportunities matching qualification criteria, who hold little understanding of your product and its value. A conversion marketing approach enables your team to understand current lead quality and measure conversion success throughout your sales pipeline. From here your team can implement website additions and evolutions to ensure leads converted are well informed about your product, and properly match ideal buyer criteria.
Many marketing approaches aim to persuade prospects they have a use for your product to promote conversion. Whilst this can be successful, around 50% of the leads generated by B2B marketing departments will not properly qualify for sales progression – think of all the investment wasted on ill-fitting opportunities! A conversion marketing approach doesn’t just boost ROI through maximizing current assets for reduced acquisition costs, it has the power to increase average order value through heightened lead quality, ensuring a healthy return on investment.
Convert every opportunity Your website receives a vast array of visitors, some of which are prospects you’re keen to convert, but others may offer different business opportunities. Selling to current/previous clients is proven to be around 65% easier than selling to new business opportunities; both current and previous clients will surely find their way onto your website when looking to continue using their solution or add to it. Conversion marketing proposes the question “if they’re already visiting, why not convert them too?”
Whether your aim is to retain clients or promote upsell and cross-sell opportunities, a conversion marketing strategy can be used to ensure your website is optimized to ensure no opportunities are missed. This is a difficult technique to achieve through other marketing channels but is essential to helping your organization grow; if you lose clients at the same rate they are gained, your business will start to stagnate and struggle to progress. Using a conversion marketing approach and evolving your website to maximize multiple opportunities, is both cost-effective and, highly beneficial.
Understand market success A conversion marketing focus requires detailed knowledge of your online audience and their preferences, driving your team to consistently ask questions of your website and measure advanced website metrics. The processes necessary to conversion marketing offer more than just insight into website performance, they offer invaluable knowledge of your current marketing success on a global scale. Your business can only be successful if people need and want a product like yours; so identifying when (and where) businesses have a problem you can solve, is key to discovering your best sales opportunities.
A conversion marketing strategy helps your team understand the dominance and influence of your brand across the current market and optimizes the perfect platform to improve this standing. With buyer behavior relying so heavily on the online world, using your website to promote brand expertise and product superiority is a simple yet seamlessly effective process. But this optimization is only possible with the insight gained through research conducted for conversion marketing.
Quickly identify prospect slumps As conversion marketing consistently measures website activity, focusing on behavioral tendencies and conversion outcomes, this strategy can instantly notify your team when something isn’t quite right. The sooner your team becomes aware of any irregular activity and a drop in results the better, so they can ensure any errors or technical obstacles are rectified, and pipeline progression remains constant and steady. Without this observation, your marketing and sales results may suffer serious slumps, causing both teams to work tirelessly to identify a source for the problem and discover a solution.
A conversion marketing approach consistently measures two key elements of marketing success- website activity and conversion rate, enabling your team to quickly pinpoint unusual results. This speedy identification of possible conversion slumps helps your team instantly put contingency measures in motion, enabling rapid research into what factors may be affecting expected results. This initial response can make a huge difference, minimizing long-term effects on sales success to ensure irregular dips in conversion don’t hinder overall revenue gain or business growth.