Traffic vs. Conversions

No leads = No Sales

Take a moment to think about the average sales transaction. Think about each of the elements that lead up to the transaction. Think about how these elements interact with each other like links in a chain. Now, ask yourself a question. Which one of these elements is the most important?

It can be argued, with some validity, that all of the elements in the average sales transaction are equally important. Creative product solutions equal customers. Customers, in turn, equal sales. Sales, of course, equal profit. Profit means that another round of sales transactions is possible. 

Yet, if we look at the matter closely, what would happen if there were no customers. Without customers the entire cycle of sales transactions would grind to a halt. Customers, it appears, are a key link in the chain of the transaction. 

If we accept this as true, that customers are key, then the leads that generate new customers assume an even greater importance. Without leads there are no customers and, as a result, no sale and no profits. Leads, it would appear are the most important of all the elements in the average sales transaction. So, where do these all important leads come from?

Leads can be generated in a number of ways. Usually, they are generated through traditional marketing techniques, such as advertising. A business buys television, radio or print advertising that informs a segment of the general public about the business, as well as any specials or sales the business is currently offering. The segment of the public that is being solicited did not previously express any interest in the business and did not ask for the information contained in the ad. These unsolicited offers are sometimes referred to as outbound marketing.

Leads can also be generated through the use of content. Content can be anything informational or helpful and can take the form of a blog post or an online video. Members of the public who are already interested in the information contained in this content find it online through a search. If they find the content helpful and desire further information, they can receive this additional content in exchange for contact information, usually an email address. This contact information becomes the basis for new leads to be used by the business in question. The members of the public who desired additional information obviously want to receive it. These solicited offers are sometimes referred to as inbound marketing.

Which Should You Prioritise?

When people are selling on the internet, they often get bogged down and fixated on traffic. Traffic is the lifeblood of any website. Without traffic, you can’t have conversions. It’s also such a nice kick to see a huge number of people visiting your site. But what ultimately earns you revenue on the internet is conversions, not traffic. While you need to build a steady stream of traffic, you should focus your efforts on converting that traffic.

Why Conversions Are Important

First, let’s discuss what “traffic” and “conversion” mean. Traffic just means people visiting your site. Conversion means the action you want a visitor at your site to take. If you’re selling something on your website, a conversion means a sale. However, a conversion can be any action whatsoever, such as signing up for your list, downloading a pdf, or connecting on social media. 

Why are conversions so important? The main reason is that this is where you earn. You don’t earn money directly through website traffic, although there are other benefits to high traffic. 

Focusing on conversions is a more efficient use of your time. It’s easier to double conversions than to double traffic. It takes months of building to double traffic, whereas you can make a simple change to your offer or offer something new in a fraction of the time and see results. 

The cost is also dramatically different. Traffic strategies that significantly increase your website visitors cost money. When you focus on conversions, you capitalise on the traffic you’ve already built. 

Focusing on conversions puts the focus on quality rather than quantity. When you have high conversions, it means people are having a better experience on your website. It’s valuable, relevant, and easy to use for your visitors. People are not only landing on your site and consuming content there, but taking the action you want them to take.

Why Your Website Might Not Be Converting

The main reason why a website doesn’t convert is that its offer isn’t relevant to its visitors. In other words, the targeting isn’t right. People come to the website expecting something and don’t find it there. Or, they find the content useful but the offer isn’t appealing to them.

There could be other factors as well that affect conversions. These include poor content on your site, difficult navigation, a weak call-to-action, or a difficult process for taking whatever action you want visitors to take.

What leads to conversions is good content, good targeting, an appropriate offer that truly helps your visitors, and an easy-to-use site.

The Best of Both Worlds

Ultimately, you want both high traffic and high conversions, especially when those conversions are on high-ticket items that bring you a great deal of revenue. Other techniques such as strategy sessions can boost conversions as well. The key to a successful sales strategy is to turn that traffic into conversions.  

5 Easy Ways to Boost Your Sales Right Now

Every business sometimes needs a quick influx of cash. If you’re facing cash flow issues, here are a few simple strategies you can employ right now to fill in the gaps and make sure you’re covered.

Ask Your Happy Customers for Referrals

If a customer is satisfied with your products or services, they’ll be happy to spread the word amongst their friends. This is a powerful form of marketing because it comes from a real person, not you, the company.

Some people will naturally sing your praises if you ask them to, but you can sweeten the deal by offering an incentive. If you feel uneasy asking people for a favor like this, keep in mind that your purpose is to offer your unique value to the people who need it. 

Offer a Loss Leader at a Low Price

Another way to attract new business is to offer a ‘loss leader.’ This is a product you sell below market value for the purpose of bringing in new business. You’ll get some quick cash, but even more importantly, some new customers. 

You can use a loss leader to introduce other products through upsells and cross-sells. It also offers an opportunity to entice people to sign up for your email list or join your social media groups. 

Have a Flash Sale

A flash sale is a great way to inject a quick boost of cash into your business. Offer a deep discount on a high-value item for a limited time only. Flash sales typically last only 24 hours. 

Choose a good product your audience will love and announce the sale well ahead of time. Make sure the terms are clear and stick strictly to them. If you have people wanting to buy after the sale is over, start planning your next one. 

Get Reacquainted with Past Customers

It’s much easier and cheaper to sell to past customers than to bring in new ones. You probably have some customers who haven’t bought anything in a while. Now is a good time to rekindle the relationship and offer them a good deal. 

Create an offer that’s highly valuable to your customers. Create an occasion for the sale or offer it as a “thank you,” an exclusive deal to reward their loyalty. 

Offer a Taster

A great way to attract new customers or get your existing customers to buy more is to offer them a taste of the value you have to offer. Give people a free demo, free trial, seminar, or other offer where they get to see your products or services in action. 

If you want to offer something limited, choose a select group of your most engaged buyers since these are the ones most likely to purchase. 

Establish a repertoire of these techniques and you can employ them whenever you need a quick burst of cash. If you understand the times in the sales cycle when your sales lag, you can prepare well ahead of time to mitigate the costs.