Individuals, in general, want to glorify their business whether it is small, medium, or extensive. Businessmen operate various activities to uplift their business-like they create remarkable and catchy websites and much more. Additionally, do use different extensions and software to run their businesses and want to know the level of their business in the market. To know the status of your business and where you stand in the market, industrialists grind hard but cannot get the actual result. So, for this problem, we will uncover a name as a great solution called “ Sales Conversion Rate”.
So the directors and executors do use the conversion rate method to measure the efficacy of their sales and their team too. By knowing the standard of your company you can easily know how hard you need to do to reach the next level. So, the sales conversion rate can extend your business in a prominent way. To know all the features and calculate the conversion rate, you have to read the blog. Let’s get started.
What Is Sales Conversion Rate?
Basically, the Sales Conversion Rate is a condition that let you know the percentage of the visitor to your website or page to the strength of the business. Additionally, it is a process that will help the director, entrepreneur, executors, and industrialist to know the position of their sales. You can easily measure the sales and also the efforts of your team with the help of this method. The Sales Conversion Rate will let you know how many potentials and existing customers you have generated. You can also use the sales conversion rate to determine the quality of your lead.
Why Should We Go For Sales Conversion Rate?
There are countless factors of the sales conversion rate process that you used to measure the sales of your business. Calculating the conversion rate allows you to the following factors:
- The sales conversion rate analyzes the work of every sales department person.
- It does Create financial projections.
- This does determine the efficiency of various lead-generation tools such as emails, campaigns, follow-ups, phone scripts, etc.
- In addition, it does check the productivity of sales tools such as buyers’ personas, Return on Investment, etc.
- The sales conversion rate is more beneficial in the long run since it’s cheaper than targeted traffic. It does have more individual clicks and visits that can surely be profitable but traffic usually offers a low return on investment.
- It will notice which channels of lead generation are performing well and which channels are performing worst. Also, create a list of best-performing channels and deliver you.
- Evaluate the prevalent health of the sales.
How to Calculate The Sales Conversion Rate?
You can easily calculate the sales conversion rate of your sales by dividing the number of lead that has been converted into sales by the number of qualified leads you have received. To get the response in the percentage you need to simply multiply the come-out figure by 100. This is how you can simply find out the sales conversion rate (percentage) of your sales in alphabetic form. This sales conversion percentage of your sales lets you know the actual position of your business in the market.
How To Improve Your Sales Conversion Rate?
We are locating some points that will help you to guide how you can improve sales by using the sales conversion rate approach in an acceptable way. Take a look at all these points and start using them according to your suitability:
- Do not use excessive web forms: According to a study around 74% of companies do use web forms to interact with their upcoming customers in a good manner. Using web forms is a good way to know about your potential customers but, some companies like to have a deep understanding of their customers. The process of understanding customers thoroughly can make them feel scared because they will be sharing their Personal Identifiable Information (PII). This deep understanding process can also lose your customer’s interest. So, you need to remove unnecessary forms from your website.
- Need to add powerful Call To Action (CTAs): It will make sense if I’ll say that to make any website engaging a CTA is a must-useable move. The CTA sounds like Call To Action and there are uncountable uses for this activity. In simple form Call To Action is about telling your audience which step they need to take next. It generally arrives in the state of links or buttons that take the user to the next level of their journey. It can be like signing up for a download, booking a demo, red bell icon for subscribing, making a purchase pop-up option, etc.
This approach works as a gateway to the customer journey that keeps the customer on track and also in the right direction. The biggest feature to use the CTA is that it generates a quick conversation that engages the customer to your website.
- Develop social reality: There are approximately 3.78 billion people on social media which is around 48% of the total population. In terms of business, there are 93% of marketers do use social media to run their corporations. Some of the top social media platforms such as Instagram, Facebook, Linkedin, Good firm, Appfutura, Youtube, Pinterest, and more. These platforms are creative and innovative ways that can broadcast your brand to the right audience and convert them into new ones. By using the social media platform you can extend your business hours and easily reach your target audience.
- Include live chats: The interactive tool that allows your audience to directly interact with your team in real-time is called Live Chat. According to research conducted by American Marketing Association, live chat boosts business sales by 20%. Some websites use bots or human agents to interact with customers and represent their companies. By using the live chat platforms you can provide all-time online support to your audience. This all-time availability makes your customers so engaging with your brands as they will get an instant response. According to statistics, if you will use live chat software then you can extend your sales by 48%. Since live chat provides an instant solution to your audience that’s why it is one of the strategies of the sales plan.
- Contain pop-ups: After the page load, another thing that appears on the page is a pop-up option that’s primarily used by marketers to promote offers & generate leads. Pop-ups are a graphical user interface based on sales and marketing strategy, that usually pop up in act of a webpage for a certain period of time. Pop-ups are the most favored and common marketing trick that is used by a large number of marketers. This marketing sales trick can raise your sales around by 9% since it is hard to ignore. Some of the most engaging pop-ups sound like discount pop-ups, free shipping pop-ups, lightbox pop-ups, read more pop-ups, and more.
The thing is to take care, not to use the excess pop-ups because it can frustrate the customer & build a negative impact. With the negative impact of your site, the customer will not visit it again and also won’t recommend it anymore. So, use the pop-up trick with moderation.