5 Sure Shot Ways To Boost Your Marketplace Conversion Rate

As a business owner, getting prospects to visit your website is crucial. However, getting the traffic to convert is more important. This entails increasing the number of people who become a customer and buy something from you.

The tons of traffic on your website should convert to action by your website visitors, whether it’s requesting a quote, signing up to your email list, or adding a product to the cart.

According to a report, 50% of businesses say conversion rate optimization is a massive part of their digital marketing strategy. You want to increase your sales so that you can make more profit. And the only way to do that is by increasing your conversion.

• Conversion tracking helps you:
• Monitor the success of your campaigns
• Maximize your ROI
• Identify areas you have to improve
• Distinguish traffic from sales

The following tips will help you generate website traffic and boost conversion rate: 

Create a Compelling Value Proposition

A value proposition is a business’s promise to customers. It summarizes how your company will deliver your products and services and the experience that customers will enjoy. This powerful marketing tool can help drive sales and build a customer base when done right. Experts regard it as the most efficient and wide-reaching marketing activity.

Make your solution clear. What problem is your business trying to solve? Research has found that customers buy a product based on the “job to be done” basis. According to this theory, a company makes a profit by solving a problem of prospects.

Answer these questions:

• What is my business offering
• What job does the buyer or client hire my company to do?
• Who are my competitors in this niche?
• What sets my brand apart from these competitors?

Developing a value proposition is crucial in getting a high conversion rate. With this proposition, you will be able to influence customers’ decision-making.

Use AB Testing

A/B testing is one of the online marketing techniques through which marketers compare two options used to achieve the same thing. This is similar to retail tracking, in which businesses track in-store behavior to know which marketing approach brought in the sale. In online marketing, companies use A/B testing to determine which marketing campaigns offer the best return on investment.

Creating a campaign based on feelings or a hunch is not advisable. For instance, you might want to use A/B Testing to see what media type works best with your audience. A/B testing helps you save money by pulling the plug on non-performing campaigns and focusing your marketing efforts on reaching more people. It also improves bounce rate and increases engagement.

Add Product Videos

Adding videos is a marketing strategy that brands leverage to boost conversion. A survey by RenderForest shows that videos helped businesses increase traffic by 51%. The report also indicates that videos can raise brand awareness by 70% and sales by 34%.  

When you add videos to your website, prospects better understand your product. A study found that visitors who watch videos are 1.8x more likely to buy than those that didn’t. Videos are also great for engaging on Social. Including product videos in your marketing can help gain traction across platforms.  

Add a Pop-up to Your Site 

A pop-up allows you to build relationships with prospects, grow your mailing list, and speed up the buyer’s journey. You can encourage website visitors to interact with your business with website pop-up boxes. You can also use pop-ups to promote specific content, such as guides, e-books, or case studies relevant to the page your visitor is on.

A study by Sumo shows that the average conversion rate for pop-ups is 3.09 percent. However, you can get even more conversion from pop-ups with the following tips:

• Try several free resources and stuff such as PDFs, discounts, premium content, and more until you find the one that is effective and works best with your prospects.  
• Make it easy for visitors to close the pop-up and put a 30-second delay on the timer. This keeps them from being annoying.  
• Set a cookie to make the pop-up only appear once per user.

This approach ensures you get all the conversion benefits of pop-ups without annoying anyone. 

Add Live Chat 

One easy way to give your customers a way to reach you at the exact moment they have problems and questions is by having a live chat. A live chat encourages a spontaneous response and is much more convenient than sending an email to the support team. With email, you don’t know for sure when you’ll get a response.  

Live chat is a dynamic communication technique. You can turn your interaction with visitors to your websites into a better experience and build long relationships.  

Businesses that deliver good live chat support may see an increase in sales while improving customer satisfaction.

Include Social Proof

Reports show that 92% of online consumers check reviews online before purchasing. Due to its effectiveness, marketers use social proof to optimize conversion rates by giving worried customers assurance.  

Another research shows that 79% of shoppers trust product reviews as much as personal recommendations. This shows that your prospects want proof from unbiased third parties and their peers – not the brand selling the product. It’s therefore imperative to leverage social proof on your website to gain customers’ trust and improve conversion.

You can find social proof for your website through: 

• Customers: Existing customers can share their experiences through case studies, testimonials, or reviews.  
• Celebrities: Celebrities, influencers, and other trusted community members who have used your service. 
• Experts: Experts who exhibit the same behavior can provide social proof credibility.  
• Statistics: Provide a figure of many people who use your product, e.g.,” Over 2,000,000 marketers use (name of your product) to improve leads”.  
• Certifications: Credible third-party certifications can certify your company as an expert in your niche.

In Conclusion

Whether you offer a service or a product, every business craves to make sales. While more traffic doesn’t necessarily mean increased sales, a higher conversion results in more sales. As a business owner, it’s essential to prioritize conversion to increase revenue. An increase in sales requires strategic planning and execution. To succeed, you have to increase the number of customers buying your product, improve your value proposition, service delivery, and all of the above. If you can enhance every step of your sales process with these tips, you can increase your sales.