Have you ever had the feeling that something is just not working the way it should — despite all the hard work you put into it? Maybe you can't put your finger on what exactly isn't right; you just have a bad feeling about it?
Thankfully, if you're doing inbound marketing, you don't just have to rely on your gut alone — though if you have a good instinct, you should always take it into consideration. The great thing about inbound marketing is, it is highly measurable. You have numbers to back you up so if you do a little digging, you can not only find what's wrong but also how to fix it.
In marketing language, we call thoroughly digging and sifting through your data and assets an audit. There are several kinds of checks: SEO audits, content audits, website audits and the lesser know, but the nevertheless necessary conversion audit. And that is exactly what we will look at today.
What Is A Conversion Audit?
A conversion audit is a strategic process of researching, synthesizing, and analyzing of performance metrics as well as the content of website pages, blog posts, landing pages, thank you pages, call-to-actions and anything else that could impact the performance of these assets with the goal to improve lead generation.
Marketers usually measure improvements in conversions in at least one of the following ways:
- Views-to-Clicks (how many times is a call to action seen versus clicked on),
- Clicks-to-Submissions (how many times did a click on a Call to Action result into a form submission),
- Visitor-to-Lead Conversion rate (how many visits generate how many leads on average)
- Lead-to-Customer Conversion Rate (how many prospects become customers).
These metrics can measure the effectiveness of your lead generation assets (e.g., your landing pages and premium content offers) regarding lead quantity as well as lead quality.
When Does A Conversion Audit Make Sense?
There are many reasons why a company should consider a conversion audit. Most of the time, it is used to detect conversion problems, such as:
- Sales people are concerned about too little leads (low website visitor-to-lead conversion rate)
- Sales are concerned about the quality of the incoming leads (low lead-to-customer close rate)
- Marketing is overwhelmed managing the amount of unqualified leads
- Conversion rate is far below industry average
- High engagement (duration time) on site but low conversion
- Even a low customer retention rate could sometimes be caused by a conversion problem.
We cannot cover every example as each business varies, but let's walk through a very typical scenario: a multitude of content, thousands of visits but very few good leads.
Example: Tons Of Website Traffic, But Very Few Leads
Let's say that you have been doing inbound marketing for years.
You have hundreds of landing pages, thousands of blog posts, and you're truly creating value.
You know that because you have an active audience who loves your content and comes back for more on a consistent basis. They engage with you not only on social media but also in blog post comments with serious questions often leading to valuable conversations.
So, you have excluded the need for a thorough content audit that would solve the problem of you not addressing the concerns of your audience or addressing the wrong buyer persona altogether.
But you know that while you are creating a lot of valuable content, there are very few results. Your website is not generating the number of leads you were hoping to get.
You look into your dashboard (in this case it is the SMART goal view in the HubSpot dashboard), and you see that your visit to contact conversion rate 0.74%! That's bad. Really bad.
But what is even worse is that the contact-to-customer conversion rate is 0.85%. That means that while to the company is generating a high number of leads; few are qualified.
You know you have a conversion problem.
While your actual conversion rates are dependent on your niche, your product, and your company brand awareness, it is worth noting that the top 25% of HubSpot customers turn 3.1% of their website visitors into leads and close more than every second of those leads into customers!
Impact Of Conversion Optimization On Your Lead Generation
Imagine the effects of a small conversion improvement could have on the bottom line of this business. If you can find the reasons why your visitors do not convert and fix it, you could not only generate more but also better leads, leading to more sales.
Just think about the example above. Maybe the visitors are overwhelmed by the amount of content provided? Maybe there is a distracting element (e.g., slider) on the page that distracts your visitors from taking the next steps? Or maybe it is not clear what the next step is?
If you could improve the conversion rate from 0.74% to 1.5% (basically double it) and improve the overall lead quality to increase the number of marketing qualified leads to 10% of the incoming leads while keeping the website traffic and sales closing rate constant, you could almost quadruple revenue.
A Visit-to-Lead Conversion rate improvement to 3% would result in more than seven times the revenue the company is currently getting. How much more powerful would your website be if it could generate that many leads!
How To Use Your Conversion Audit
The outcome of a conversion audit is a large spreadsheet containing detailed information (e.g., URL, page title, etc.) about all or, at least, the most relevant (most viewed, least converting) pages. As you go through each and every landing page, thank you page, call-to-action and website page that is in scope for this project, you make a decision whether to consolidate, remove, improve or leave as is. You will map out a detailed strategy for each of your assets.
Ultimately, a conversion audit can help you determine which:
Landing pages or premium content offers need copywriting/editing (content that needs improving to aid conversions), updated (outdated information) bundled to boost conversions
Landing pages or premium content should be consolidated/pruned off the site (irrelevant information) → Leverage the PageRank and traffic of expired/outdated content or campaigns, use search engine crawl budget more effectively
CTA get a lot of views but little conversions (placement, design, copy, etc.)
Content/conversion gaps can be identified and how they should be filled
Landing pages “should” be ranking for what keywords
Website pages are the strongest performing pages (most viewed, highest converting) and how we can better leverage them
Content should be prioritized to improve conversions, etc.
Based on your findings, you can develop a detailed conversion improvement strategy for each of the conversion paths or campaigns (e.g., archive and 301 redirect to new campaign, improve copy of landing page to clearly stated benefits).
Then you can align all relevant landing pages, thank you pages and CTA to a stage in the buyer’s journey and to the appropriate buyer persona. This will help you decide if you should change the design template on the page, improve the copy to better target your messaging to reflect what the particular visitor is looking for.
It also enables you to create and apply branding guidelines to achieve a consistent look & feel across all historically grown lead generation assets.
Finally, you can create project management plan that will enable you put your conversion audit and strategy into action.
Alight, here is where the hard work begins: translating a strategy into actual results.
If you want to find out, how 3P Creative helfs its clients not only build beautiful websites, but also continuosly imporve them - including conversion sudits, strategy and optimization work, click below to schedule a free consultation.