With latest figures suggesting that around 40% of the world’s population now have an internet connection, it’s easy to see the appeal of setting up an online business. With such a huge number of internet users, you might think that it should be easy enough to sell whatever it is that you’re offering. If, however, you’ve fallen into the trap of thinking that high volumes of traffic to your site will result in high profit for your online business, then it may be time to reconsider your strategy. Unfortunately, traffic does not always equate to profit; if you’re finding yourself in this situation then the following tips should be helpful when it comes to converting traffic to sales for your SME.
Attract the right people
While online traffic is a great way to get your company name out there, you should ensure that you are targeting the right kind of traffic. It’s easy to be fooled into thinking that your business is doing well based on high volumes of visitors to your site, however, if you’re not attracting the right people then you’re unlikely to make any money.
If, for example, you’re selling dog food and dog products, but you’re gaining traffic based on keywords such as ‘cute pictures of dogs’ then, perhaps unsurprisingly, you’re unlikely to make much profit. It’s certainly conceivable that those who actually have dogs may go on to purchase your products, however, you would be better making sure that keywords such as ‘buy dog food’ are working to attract traffic to your site; this has a much higher likelihood of turning into profit.
If you find yourself in this situation, it may be time to rethink your advertising strategy and ensure that you are attracting the right people to your site; this is one of the most important steps that you can take to ensure that your traffic converts into profit. Implementing an SEO strategy is also an effective way of ensuring that you drive the right people to your site; by focusing on what consumers are searching for, you are giving your online business potential to really take off.
Know your competitors
When setting up your online business, not only is it important that you know your target audience inside out, but it’s vital that you also research and have a good understanding of your competitors. By taking a look at what your competitors are doing, both in terms of the similarities and the differences, you should then be able to make any necessary adjustments to your own site. Doing some research into how your competitors are reviewed can also come in handy; what do their clients like about their service, and similarly, what do they dislike? This can be an effective way of creating profit from your site traffic; developing a way around potential flaws in similar sites, and mimicking the more successful concepts has the potential to be a useful tool in bringing in profit.
Provide the right product
If you have found a way to draw in the right traffic for your site and you’ve sussed out your competition, but you’re still not seeing a decent conversion from traffic to profit, then it could be time to take a look at what you’re selling. Could it be that what you’re offering is being aimed at the wrong audience? If this is a possibility, then it’s well worth taking a look at who you should be targeting. If not, it may be time to have a look at your product or service and see what adjustments can be made. Is it a case of price, or are you aiming at an already-saturated market? Researching similar products should give you an idea of the general price that you can expect, and should give you the chance to adjust accordingly. Similarly, if you’re offering something that is already out there, take a look at how you’re marketing it, and consider changing things up to ensure that you break through the noise.
Assess your purchasing process
By making changes such as titles and page layouts, you may find that your site becomes clearer and easier to use, ultimately resulting in conversion optimisation and more sales. Taking some time to go through the purchasing process as a customer can help you to see where any potential issues or confusion might arise; you should then be able to tweak this accordingly.
If you’ve got the perfect product and willing customers, the last thing you want is a lack of sales due to a confusing purchasing process. By implementing directions to guide your users through the process and providing them with confirmation messages, you’ll be ensuring that your site is easy-to-use and helpful; a sure-fire way to make sure you don’t lose customers at the last minute.
A great way of converting traffic from your site into profit is by maintaining contact with your existing customers. Something as simple as sending out a monthly newsletter or targeted email campaigns to your clients to keep them up-to-date and informed of any new products or services you have to offer can be an effective way to increase your profit. It’s generally cheaper to maintain existing customers than to seek out new ones, so by keeping in touch with those who have already used your services before you should be well on your way to seeing your profits rise. A mailing list should provide you with a high conversion rate, as there has already been trust established between your business and your customers.
Improve user experience
It may seem obvious, but ensuring that the user experience on your site is positive is key when aiming to convert traffic to profit. You should make sure that your site is full of attractive, engaging content; dull or poorly-written sections are unlikely to attract customers. Similarly, you should make sure that your site looks professional, whilst being easy to navigate. Is it clear what each section of your site relates to, and is it easy for your customers to find what they’re looking for? A fussy, complicated site is likely to put potential customers off, resulting in high traffic yet low profit.
Constantly analysing where and how your website generates its revenue should allow you to make informed decisions about where to focus your efforts on improving your site. By making sure that you know your target audience, your competitors and your product inside out, you should stand yourself in good stead when it comes to converting your online traffic to profits.