“How do you optimize a conversion funnel?”
This question comes up a lot with prospective and current customers — why not give our official answer via blog post? (we touched on it with this Quora post a few years back, but we’re ready to expand!)
To get on the same page, we’re defining a “conversion funnel” as the different steps and stages in a buyer’s journey leading to a purchase.
So what do you say we jump right in? This is exciting stuff!
1. Define the stages
You don’t want to dive into the deep end too quickly with a process like this. Slow and steady wins the race here!
So first things first…
Define each stage throughout the conversion funnel.
Why? Well…it’s hard to pinpoint the stage that’s causing a bottleneck if you haven’t even defined them. It’s a bit elementary, sure, but people skip this step far too often.
And as a result, communication within their time starts to fall apart and the ability to solve and repair bottlenecks becomes painfully difficult (and frankly near impossible).
Take baby steps here. Identify, establish, document, and communicate the stages of your conversion funnel.
2. Gather the data
If you’ve been hangin’ with us for a while, you know how important data is to us here at Net-Results.
So of course you know we’re gonna rant and rave about it a bit here, too.
For this step, the most important data you’re going to want to collect are the conversion rates between each stage.
This Databox article has some fantastic info on how to calculate your funnel conversion rate as well as what is commonly considered to be a good conversion rate.
Before diving into conversion rate calculations, make sure you’re comfortable with Google Analytics & Search Console — these two programs will be your new BFFs.
3. Identify the bottlenecks
Yikes, no one likes a bottleneck, especially in their expertly crafted conversion funnel. But what’s the first step to removing these bottlenecks?
The conversion rate data you’ve collected during Step #2 will be the biggest help for this crucial step of conversion funnel optimization.
What else is sure to be of help? Our tried-and-true People, Processes, and Bottlenecks Guide!
This trusty guide will help you:
- How to identify and address bottlenecks within your own conversion funnel
- Understand the importance of prioritizing the steps in your Customer Journey
- Analyze example workflows to learn how marketing automation can be leveraged to increase ROI and provide prospects with the right info at the right time
- And more!
Bottlenecks can be huge obstacles to conversion funnel optimization. They can be tough to remove, but it’s worth it.
As previously stated, bottleneck removal can be hard, but experimentation can make it a bit more fun.
To fully optimize your conversion funnel, you’re going to want a well-rounded arsenal of bottleneck removal processes under your belt.
And how will you achieve this robust arsenal? Experimentation! (well, and our free People, Processes, and Bottlenecks Guide).
Experiment and use conversion rate data to better understand why prospects are dropping off at certain stages.
Is the copy all wrong? Is the landing page mobile-friendly? Is the load time for your site driving people away? Is your CTA lost in the mud?
Experiment, try new things, and don’t lose hope. All bottlenecks can be removed with a little elbow grease.
But remember — only change one variable at a time throughout this experimentation process, otherwise, you won’t be able to deduce which one either improved (or hindered) your efforts.
Patience is king here, folks!
A lot of work goes into those conversion funnels — make sure they’re working for you with four easy-to-follow steps!
And should you hit any bumps along the way, remember we’re just a quick click away. Schedule some time on our calendar to discuss any and all conversion funnel issues — we’ve heard (and fixed) it all.
Til next time,
Marketing @ Net-Results