A4.7: Section A4 Q&A

  • A4.7: Q&A Using the Chat Box
    • The better your question is, the more likely it is to get answered!

A4.6 Absolute “No-Gos” of Conversion Optimization

  • Quick notes on things you never, EVER do when attempting to improve conversions
    • Never give people too many options
    • Everything that leads off-site (or even outside of your intended conversion path on-site) that DOESN’T lead to your ideal conversion event is considered a “leak”
      • *ahem* ADVERTISING
    • Be mindful of the balance between grabbing attention & destroying UX
    • I strongly recommend never going for the quick buck or employing shady sales tactics
  • Remember…
    • This is an incredibly valuable skill, but one that takes a lot of time & testing to develop
    • If you don’t have at least 200-250 visitors per day, I’d recommend not worrying about ANY of this at this stage of your business
    • Sometimes you will consider sacrificing the long-term relationship if it doesn’t bring enough value to the consumer (i.e. highly transactional niches/content) or you make substantially more money by removing your conversion event
    • An online business owner’s wealthy has a DIRECT correlation to their respect & attention towards data — so never be voluntarily ignorant of your numbers!
    • There is SOOO much more to know — we’ve just scratched the surface
      • But this should be more than enough for the stage of business IMP is intended for, but if you find yourself needing more, get in touch so that we can discussing “leveling you up”!

A4.5 The Power of Compounding Conversion Rates

  • The real fun of internet marketing: compounding conversion rates
    • Let’s say you have a funnel with the following conversion events:
      • Click-through rate (CTR) of your organic search listing
      • CTR of your website’s side banner to a landing page
      • Landing page conversion rate
      • “Thank You” page containing a paid offer (worth $7)
      • Email #1 open rate
      • Email #1 click-through rate
      • Offer #1 conversion rate
      • A real funnel continues, but that’s enough for this demonstration…
    • Example #1: Starting conversion rates
      • 100,000 people see your organic search listing
        • Click-through rate (CTR) of your organic search listing: 25% = 25,000 visitors
        • CTR of your website’s side banner to a landing page: 10% = 2,500 LP visitors
        • Landing page conversion rate: 20% = 500 subscribers (lasting relationship!)
        • “Thank You” page containing a paid offer (worth $7): 1% = $35
        • Email #1 open rate: 10% = 50 opens
        • Email #1 click-through rate: 10% = 5 clicks
        • Offer #1 conversion rate (worth $50): 1% = .05 sales = $2.50
        • Total earned from 100,000 impressions = 500 subscribers & $37.50
    • Example #2: Optimized conversion rates (all events now improved 100%)
      • 100,000 people see your organic search listing
        • Click-through rate (CTR) of your organic search listing: 50% = 50,000 visitors
        • CTR of your website’s side banner to a landing page: 20% = 10,000 LP visitors
        • Landing page conversion rate: 40% = 4,000 subscribers (lasting relationship!)
        • “Thank You” page containing a paid offer (worth $7): 2% = $560
        • Email #1 open rate: 20% = 800 opens
        • Email #1 click-through rate: 20% = 160 clicks
        • Offer #1 conversion rate (worth $50): 2% = 3.2 sales = $160
        • Total earned from 100,000 impressions = 4,000 subscribers & $720
    • Important things to note…
      • All of the numbers in Example #2 are achievable if you have high-quality, qualified visitors to your website
      • The earlier in the funnel the optimization is made, the more leverage it gives you (i.e. earlier optimizations have larger impacts)
      • A funnel this refined often takes months of testing & tweaking
      • This relationship would continue into more emails, more offers, etc. meaning a more established relationship and, possibly, more money
      • More traffic also boosts every step of the conversion funnel (it could even be considered the FIRST leverage point of this funnel)
      • This is how some people can have identical traffic in identical niches, but one will be making $10,000/mo and another will be making $1,000/mo

A4.4 A/B Split Testing: How to Do It Correctly

  • What is A/B split testing?
    • Also known simply as “A/B testing” or “split testing”
    • The practice of running two variants (an ‘A’ variant and a ‘B’ variant) against one another
    • Once statical significance is reached (Google it for a detailed explanation), you have a “winning” variant which usually becomes your next control
  • What can you A/B split test?
    • Just about everything in a digital marketing business
      • Headlines
      • Body text
      • Calls to action (button OR entire paragraphs)
      • Images
      • Color variations
      • Email subject lines
      • Email calls to action
      • Telephone scripts
      • The list goes on and on…
    • How do you setup a split test?
      • Every tool is a bit different
      • If your tool allows it, you can find it easily by Googling it
      • If your tool doesn’t allow it and you’re working on conversions… you need to change tools.
    • “How do I correctly conduct an A/B split test?”
      • Remember: Your results are only as good as your test!
      • You may begin by running wildly different variants against one another (such as two entirely different landing pages), but once you’ve found your “control” variant…
      • You should only test ONE ELEMENT at a time
        • e.g. One headline, background image/color, button color, button call-to-action text, etc.
      • Run until your test has statistically significant data
      • Don’t start another test involving those elements until the previous test has concluded
      • Once you’ve established a new control, you could keep launching tests & improving as long as you want to keep improving
      • BUT… keep in mind that even if the earlier stages in your funnel convert BETTER, it could negatively impact the later stages of your funnel
        • So keep an eye on how the metrics shift across the entire funnel!

A4.3 Conversion Opportunities: Where Do You Lose Control?

  • 100% on your website…
    • If you successfully engage the visitor on your website, you only lose control if you screw up (e.g. betray their trust, give them too many distractions, lose credibility, etc.)
    • This is why selling your own products is often much more desirable (but also significantly more work) than selling someone else’s products
      • …if you know what you’re doing
  • Handed off/referred elsewhere
    • You almost always lose control the MOMENT that visitor leaves your site
    • Therefore you should do everything possible to:
      • Establish an ongoing connection with them before they leave your site so that you can regain control in case you lose it (e.g. subscribe to an email list)
        • Note: This step is optional for highly “transactional” niches/websites
      • Pre-sell them as much as possible
      • If possible: Incentivize them to buy through you vs. others (e.g. offering bonuses, “help keep ____.com funded”; not always allowed or necessary)
  • General rules of thumb:
    • Once they’re engaged, you’re in control (unless you screw up)
    • Once they leave your site, you’ve lost control
      • So do as much as you can to make sure you can reconnect with them down the road, or that they’re as likely as possible to convert on the site you’re referring them to!

A4.2 Understanding Universal vs. Business-Specific Conversion Optimization

  • What’s possible here vs. what’s impossible:
    • Possible: Giving you all of the insights & direction to improve your own conversions
      • This will equip you to study/evaluate sites through a veteran lens
      • Gives you an excellent starting point for your own business
    • Impossible: Giving you a perfectly clear vision of what this will look like for YOUR business
      • Too many “moving parts” & too much variance between business models
      • I hope to get involved at this level down the road, but that’s not possible for a $XX.XX/month membership
      • YOU will have to do a lot of experimenting & filling in gaps, but you’ll have 10x the starting point & perspective that you would have otherwise
Top