Impact-driven ventures exist to help make a difference in the world through serving their customers, users, or beneficiaries. Yet, one of the hard parts of any startup is converting customers into paying users. For some social enterprises, giving away their services is part of their model… but even giving away their product or services can be a challenge. We highlighted some key tricks to starting marketing in the post “Startup Marketing: Where to Start.” Once you have identified your key audience and attracted them to your webpage, how do you convert them to the “bottom of the marketing funnel”?
You have to focus on CONVERSION!
Conversion is tough. The average conversion rate for an online site is around 2%. In other words, for every 100 people that land on your page, you can expect to win the sale twice. If you are well below this metric, there are some easy steps to take to bring that up to 2% or higher!
Below are some quick tips that you can implement to your site today to boost online conversion, increase revenue, and reduce cost per acquisition (CPA)!
1. Test, test, test…:
It’s a simple rule in marketing: Always be testing (or as we like to call it, ABT). Set up A/B tests for your site when you make changes to landing pages, contact forms, or product pages. Drive 50% of your traffic to the old page, and 50% of traffic to your new page and compare results. The last thing you want is to make a change to increase online conversion, only to see the opposite happen! Test, test, test, and then test again!
2. Include testimonials:
Customer testimonials are crucial for your online conversion rate. Everyone reads reviews on Amazon, Google, Yelp, etc, and testimonials and reviews on your own site are no different. Testimonials provide social validation to your product, answer questions for prospective buyers, and ultimately contribute to an air of legitimacy with your brand. Don’t be afraid to ask your previous customers for reviews, and throw them on your site (as long as you have permission)!
3. Offer limited-time coupon codes:
Everyone loves a good discount. We’ve seen this time and time again… A product is slow to sell, and then a discount is offered and the product flies off the shelf. There’s a reason that major retailers, from fashion and apparel to automotive, lead with sales in their advertising campaigns. Offer a discount code with a set expiration time to increase the sense of urgency for the customer, and watch your conversion skyrocket. With unique discount codes, you can also track where your traffic is coming from, helping to prove your marketing efforts. Win-win!
Once you start converting, this gets the flywheel of your venture off the ground. Entrepreneurs and founders should be closely watching their metrics and how their marketing efforts are paying off. Keep your eye on making an impact by converting customers and users. As they convert and you have a growing list, focus on keeping them supported, nurtured, and wowed! It is less expensive to upsell or resell a previous customer than acquire a new one.
If you are looking for hands-on support and guidance, reach out and have a 15-minute phone call with a SEED SPOT Team member. As a 501c3 nonprofit, we are dedicated to helping you start, grow, and scale your impact-driven venture and startup. Let’s chat!
