Conversion Analysis: What it is and why it matters.
Conversion analysis is the process of monitoring how your audience and prospects become customers. It’s the analysis of the data around how many people enter your marketing funnel versus how many of them go all the way and become customers.
In many traditional businesses, it is common to measure this process. Often the process is owned and measured by the sales manager. His team provides the data and he puts together their sales scoreboard using a CRM system (Customer Relationship Management system). Success is easy to measure. Are we making a return on investment on the whole CRM process or not?
Things become a little more complex when you’re building CRM processes on your website. It is ideal for every business that needs a consistent stream of leads to build systems on their website that collect leads on automatic.
Why this matters
Generating leads automatically is an important part of scaling any business. Companies that spend time creating online processes that generate leads using automated tools and processes have a strong foundation to build on.
When companies plan to grow they look at:
- Increasing marketing spend
- Growing their sales team
- Re-Branding and building Authority
- Restructuring internal processes and teams
All 4 are very important.
Without a close look, however, at how the leads come into your business and convert into clients, scalability may not be possible. It’s important to create a flow of leads into your business using online marketing tools. SEO (Search Engine Optimisation) builds the traffic to your website. This traffic is made up of people who broadly fall into your client-types and some engage with your site, return, then contact you to enquire about your offers, services or products.
Conversion can refer to the various points of this process where a client moves on to the next engagement stage. Knowing and improving the conversion points on your business website is key. You also need to provide clear process flows to help your team gather and close more leads.
The conversion analysis of your online website tools, alongside a good SEO plan to increase the traffic on your site, will help you create a fertile environment for exponential growth. If you want to lay the groundwork for future growth, then you need to work with a specialist to make sure your tools and online conversion are in line with your goals.
Want to talk to a specialist? Contact us here…