How to Deal with Low Conversion Rates in 2023?

How to Deal with Low Conversion Rates in 2023?

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Worried about lesser conversions on your search ads?

Don’t panic because it’s not just you. 

Average conversion rates dropped nearly 65% in 2022 compared to 2021. (LOCALiQ report) 

But what do lower conversion rates mean for your business? 

Low conversion means

  • less revenue than before.
  • high Cost-per-clicks hence the tight budget.
  • more competition in the search domain.

People are exploring more and more. Even after clicking your ad, they’ll try out 3 other websites.

This means a high cost-per-lead for you.

People are even comparing prices while in-store, which just adds up to your CPC.

While you can do nothing about changing search patterns, you can make your offer more lucrative and your website optimized for conversions.

In this article, we’ll try to find out for you why your conversion rates are dropping and find solutions to improve your conversion rates.

Low-conversion rate reasons

1. Your CTAs hitting bottom

Written vaguely or not clearly visible, or something else could be a reason for your question as to why your CTAs are not converting.

Call-to-Actions, shortened to CTA, are uniquely designed words or phrases to get the immediate attention of the customer. 

But what if it is not serving the purposes intended? Reasons for this could be:

  • Written in a vague manner
  • Using very generic language
  • Not visible
  • Using too many high-friction words

The finer the call-to-action, the more will be the conversions, and hence you can’t make the mistake of not having clearly written and visible, attractive language which is precise as well as compelling and appears to serve the needs of the customer who has taken a visit to your site. 

You ought to take care of such little but impactful things.

2. Lack of clarity in your value statement

What if the user who visited your website was unable to understand what you were selling or what you were offering, he would not perhaps even take the chance to click your CTA button as it makes the visitor suspicious of your service quality.

And, obviously out of suspicion, the user may skip your site and jump to another site that might be fulfilling its requirements and might even make a conversion. Thus, causing you a loss! 

After a while, you might resort to sensationalism or ‘creating a buzz’ marketing technique as a resilient strategy to bounce back, but know that it’s been out of use because, after all, buyers end up looking for the value of the product or service that will benefit them.

Customers must comprehend the benefits of the product, how it addresses their issues, and what its key features are.

3. Substandard site experience

As discussed earlier, all your efforts will be in vain if the visitor doesn’t understand what you are trying to sell.

Here is another reason why your conversion rates are low- substandard user experience. To find out why your conversion rate is low, just take a look at your site’s optimization. If your search engine optimization is not aptly optimized, a decline in conversion rates will be apparent. Due to the lack of proper SEO, your site’s pages wouldn’t show as the most relevant or relevant to the searches made, people won’t click, and thus, there will be no traffic. No traffic means no or less chance of profitability.

Why would a buyer waste his time on a site if they don’t find what they came for? While websites are required to present every detail, CTAs, etc. precisely, at a visible location such that they would come into notice at a glance of the visitor, and if it is opposite to it then the user carries a negative experience and even your prospects might be vague.

4. Eyeing wider but wrong audience

Another plausible reason for your conversion rates being low could be that for some time till now, as it is deemed that you might revisit your strategy after being here, you were targeting a wider or mismatched audience.  

Who are your potential customers? Whom are you targeting to sell your products or services? Which age group? These are the questions that must be taken into account when you start a business, at least they should be if not necessarily.

Now, what if not they? Without a piece of accurate information about the buyer class, your CTAs would lack certain traits. Without having the knowledge or idea of the target audience, how will you connect to them when you are not connected? There might arise the feeling of no need to purchase your product or service and all of this will result in losing another potential client. 

What you want to be heard by the audience about your product or service must be conveyed to them directly creating a bond of trust and if this bond of trust is deficit you will certainly profit. It’s also true for conveying the message to the wrong people as it is of no use to them, again your all effort is in vain.

5. Lack of  Remarketing or Retargeting Strategy

Most of the time it happens that a visitor visits your site and navigates through it but leaves the site without making any purchases.

Understand it by an instance that you hovered over an e-commerce site say A and looking for a specific product say B but you didn’t purchase after closing the tab you went to your Meta page or opened the email and found out that the same e-commerce site was popping ads there of the product you desired to buy trying to entice you to make the purchase. This is known as remarketing or retargeting. 

For many brands, this is an important part of their conversion strategy. But if the product or offer isn’t put at the perfect time before the visitor, he will just skip it, and even frequently showing is not a good idea. It will annoy the visitor and will leave a bad impression of your site, services, and products

6. Lack of a compelling and sound website copy

Must you be at par with the copy as it is the bedrock of all your marketing strategy? You must know why your copy is not well enough to augment your conversion rates. The reasons could be:

  • Less informative or superfluous
  • Having grammar  errors
  • Written in a superficial method
  • Less persuasive and inconsistency throughout 

7 Successful tips to boost your conversion rates

1. Start with a well-designed website

It all starts with the user’s experience of your website. 

If users find it troublesome or lagging behind something, they will skip your site. Therefore, you have to make sure that your website is perfectly designed for a good and smooth user experience.

 How can you do this? Here are some tips:

  • Clear and complete page
  • Hassle-free site
  • Craft compelling taglines
  • Use chatbots to solve doubts of the user in a real-time
  • Menus, CTAs, etc. should be at a visible location

As we suggest you visit your site not as an owner but as a visitor and try to think like an ordinary visitor as what you expect from a good site and when you get the answer try to execute it, maybe it would work best for you.

2. Work on your feedback approach

It’s just to know what your user or mass out there says about your product, site, and service experience. Be ready for the negative experience too, because you can’t sideline. Those who believe in your product quality and all will be with you, but remember they are not your only prospect. You have to target those who are not.

And for this, you can use feedback strategies. Ask them what they wanted and what you couldn’t deliver and assure them to make the changes while it’s also not feasible to act on a single person’s wish, but you have to have a balancing act.

Collect and filter the data accordingly and execute the changes according to the data. It’s also not bad to ask about the competitors’ styles.

3. Create a compelling copy

It’s rudimentary to the marketing and to augment the conversion rates. You must have a clear, concise, and compelling copy. Copy is something that conveys your idea to the visitors and the prospects. If your copy is not well-curated and clear, your CTA, UVP, and targeting will all be good for nothing.

Here what is you can do:

  • The wording of your copy must speak the whole value.
  • Particularly written for a market-driven user.
  • Copy must be relatable, creating a sense of familiarity and simplicity.
  • Make your copy grammar and spell-error free.

4. Perfectly curated CTAs

For CTAs it goes like this – the finer the CTAs the higher the conversion. It is one of the cornerstones of techniques to increase your conversion rate which is showing poor results even if you have a good number of visitors. We’ve already talked about the whys and now is the time to look at the hows:

Firstly, it should be visible and not hazy, and next, the wording must be riveting and persuasive. Choose the right color and background and hand in hand make sure it should be in one or two phrases so that visitors have no thread of doubt as to what to do next.

5. Make it clear what you’re selling.

Let the buyer know what you are selling or offering best to fulfill their requirements. On the contrary, if your audience doesn’t or couldn’t understand your product or services, they wouldn’t complete the purchase, and your conversion will fall.

What you need to do on your part is have a clear and succinct answer to who you are, what you are selling, and to whom you are selling. Start by crafting a more straightforward statement to these questions, which in marketing terms, we call – Unique Value Proposition (UVP).

6. Implement PPC marketing and referral programs

Working on running a PPC campaign can bring you instant traffic and thus increase your conversion rates. It’s advisable and also good to have a conversion rate above the 10% line. It will put you in the player’s league. While it must be known too, that you may have to maximize your budget a little.

Apart from running PPC campaigns, you can go with referral programs or you can add incentives. These are even cost-effective with optimum ROIs. Use tones of scarcity in your incentives like “Hurry, only 10 left” or “Hurry, last twelve hours to buy” based on what kind of sense of scarcity you want to create – quantity-based or time-based. Go for time-based offers if you think you have enough supplies.

7. Improve Your Email Marketing Skills

As per the facts and figures published by HubSpot, “Email marketing revenue is estimated to reach almost 11 billion by the end of 2023. ( Statista, 2021)”. Hence, making it clear that you have to use the email marketing tool. 

Approximately 79% of the marketing business class ranks email marketing as their top most worthwhile marketing avenue.

Email marketing is the best remarketing or retargeting strategy; as discussed, one of the plausible reasons for low conversion rates; you can put into work that not only helps you to build trust but also answer all the pain points of the users.

Firstly, you need an audience to email; therefore start with building an email list. Then, chalk out your goals and identify your audience. You should select what type of email marketing you want and which best fits your audience category, and it should be done at scheduled intervals of time. You can also start publishing weekly newsletters, as most successful brands do.

Do not forget to analyze your results.

Scale your digital marketing success from today

Our marketing minds at McElligott Digital Marketing are ready with the digital strategy for your business.

But the question is, are you ready to begin?

Book a free consultation call with our specialist now.

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