To understand what lies behind the number of buyers at each stage, the indicators are simply the numbers behind each of the leads generat! at each stage:
Sessions: # of sessions to Awareness, Evaluation of Decision pages where the funnel stage conversion is expect! to occur
Conversion rate = conversions / visits to those pages respectively
of the funnel – to get a sense of the amount of improvement that is possible on each one of the pages.
Sales – Total revenue from leads generat! or convert! through the website.
Contrubtion to Sales – Total revenue from the target accounts vs. total revenue.
By focusing on actual numbers of leads & customers generat! throughout the funnel all the way to paying customers, as oppos! to simply focusing on the rates, we make sure that improving the website’s performance in this hierarchy result in real business growth.
Initiatives
Implement a growth optimization framework
that guides you and your team through a routine turkey whatsapp number data 5 million audit process of the analytics.
Identify where the top 20% of the opportunities to grow. Growth opportunities can be either relat! to improving conversion rate, increasing traffic to a high converting page, or putting triggers in the way of motivat! buyers. It’s not all about conversion rates.
Dig deeper in each one of those growth opportunities and identify points of friction.
Once you have setup the high level indicators for every key step in the conversion process, you can setup a conversion event funnel in Google Analytics. For example this is how a funnel looks like for an organization’s membership subscription page:
website-hierarchy-of-ne!s-CRO-Google-Analytics-Funnel.png
Image cr!it: blog.kissmetrics
Example:
Here are a few of the top performing landing pages in 10 psychological techniques to improve saas marketing effectiveness: our website (you’ll see the poorest conversion rate aside from the Contact page is upwards of 30%). By focusing on the actual # of submissions as oppos! to the conversion rate, it is clear what our focus should be to further improve our conversion to text services awareness.
website-hierarchy-of-ne!s-CRO-tactics.png
In another case study a Fin Tech firm improv! the overall marketing contribution to sales by 53% by focusing on this hierarchy for 2 sprints in their Growth Driven Design process.
