Today I want to share some things I know about your conversion rate.
What is a conversion rate?
Well, you take how many people opted in for your offer and divide that by the total number of people who saw that page and multiply it by 100.
So if you had 127 people opt in and a total of 223 people saw your offer page your conversion rate would be 57%.
127/223 * 100 = 56.95%
That’s a HIGH conversion rate.
But not impossible.
In fact, one of my NanoFunnels client is crushing it right now and these are their exact numbers.
Most experts agree that 20% conversion rate is good for a landing page (also called an opt in page). I like to aim for at least a 30% conversion rate.
So a 57% conversion rate is just bananas.
In fact, here are some stats from my current NanoFunnels clients for the March campaign.
As you can see, of those that decided to run a March campaign… they’re all hitting the threshold of a good page.
But what I want to do is dive a bit deeper.
The last entry on the image shows a facility that got 32 people to look at its page and of those 6 people opted in. That is a 19% conversion rate.
But look at the 3rd line item down. They got 29 people to look at their page and 9 people opted in. That equals a 31% conversion rate.
Less people looked at their page but they got 3 more leads.
PS – here’s the big lesson.
These pages are running the same campaign. They look the same. They are identical.
So what could possibly be causing the large difference in conversion rates?
Answer: Their Offer
The only thing that is different about these pages is the offer each person is making.
The offer is the thing that you give to someone in exchange for getting their contact information.
The offer is more suited to its audience where the conversion rate is higher.
Said in plain English… more people want the offer being given on the page converting at 31% versus the page at 19%.
Now you might be saying 2 things at this point in time…
1) “So what’s the secret offer?” It’s nothing special. In fact, the point is that the offer matches THEIR target market. It’s what THEIR target market finds interesting and valuable. And that is different for each of us. Our job is to find what our target market wants and is willing to give you their contact information in order to get.
2) “There isn’t that big of a difference between 19% and 31%, Lynn. So why are you wasting my time?” Because that IS a big difference. If you look at the graphic again you’ll see that in both cases… not a lot of traffic was driven to these pages (a topic for another time). The idea is once you test and see what offer works best for your business… you scale.
Let me repeat… you scale what you know works.
You see… I would never scale an offer that isn’t converting high enough.
Why would I invest $100, $500, or $3000 in paid traffic to a landing page that converts at 19% when I could tweak my offer and get it to be 31% – or 50%?
Why spend all that time and energy getting eyeballs on my offer when I know it isn’t converting well – or worse yet… if I don’t know what it’s converting at?!
Let’s put this into action…
If I send 100 people to the landing page here is what happens:
Page Converting at 19%: 19 leads
Page Converting at 30%: 30 leads
Page Converting at 57%: 57 leads
Think about this… that’s an incredible difference. I sent the same amount of people to the page but could end up with a drastic difference in the number of leads I get in return.
Lets stretch it out even further and scale it (throw more money at advertising to get more eyeballs on my landing page).
If I send 1000 people to the landing page here is what happens:
Page Converting at 19%: 190 leads
Page Converting at 30%: 300 leads
Page Converting at 57%: 570 leads
See the difference now? 19% to 30% might not sound like a big jump but when you start to scale… it shows up big time.
I would much rather have 300 leads than 190 leads.
I went over a lot in this email.
You have to have a landing page.
You have to have an offer that is wanted.
You have to be able to track the number of visitors the landing page gets.
You have to be able to track the number of opt ins you receive.
Once you have this… collect data so you know what offer is more desired. Keep tweaking until you reach at least 30% conversion rate before you scale anything.
Got it? Good 🙂
PS: NanoFunnels is open for the next 3 days if you like what you see and want to get in.