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Why doubling your conversions is better (and easier) than doubling your traffic

In January of this year (2013), I attended Ryan Deiss’ Traffic and Conversions Summit in San Francisco.

One of the major takeaway for me was that most of the times we don’t need to drive additional traffic to our websites..

.. In fact focusing our conversions only can allow us to double our business.

This may sound like a simple concept, but it actually took me a lot of time to internalize this simple concept.

Here is a practical example

For instance, let’s say that you run a blog called “How to become a better gardener”.

Now on this blog you have a popup optin form where visitors can subscribe to download a free report.

So at this point you’ll need to monitor how many visitors become subscribers, this will be your optin conversions.

After they have subscribed you may them send an email with a related offer.

Here you’ll need to keep track of your Click-Through-Rate (CTR), e.g. how many people click on your email links.

Finally on your sales page you will need to monitor your Conversion Rates, e.g. how many visitors out of 100 buy your product.

 

I’m sure you got the big picture by now.. So without further ado..

Let’s get technical (but not too much)

OK so in this case-scenario let’s say your numbers are the following:

– Optin conversions: 15% (15% of your website visitors subscribe to your list)

– Email CTR: 20% (20% of those visitors eventually click on an email link going to your offer)

– Conversion rates: 5% (5% of your subscribers actually purchase your offer)

Now let’s say we sell our product for $50 and every month your site receives 1000 visitors a month.

So the actual number would be:

– Optin conversions: 150 subscribers (15% of 1,000 = number of new subscribers per month)

– Email CTR: 30 clicks (20% of 140= number of people that click to see your offer)

– Sales conversions: 1.5 sales (5% of 140 = number of people who buy your product on your sales page)

So we’re roughly looking at $75/month (1.5 product sale) from this revenue stream.

The current thinking here is generally: “I need more traffic to generate more revenues”.

Or “I need to split-test my sales page and improve conversions”.

But actually there is another way to double your conversions without generating more traffic and without even remotely touching your sales page.

Split testing at the source makes sense

Now let’s say that instead of split testing our sales page, we run some optin conversions tests.

For instance we can try different call-to-actions on our optin form.

After a couple of weeks, let’s say our test allow us to increase our optin conversions from 15% to 20%.

Secondly we run some CTR test: companies like aweber allow you to send different versions of the same email in order to find out which ones performs best.

After a few weeks, our CTR test allow us to increase our CTR to 30%.

We leave the sales page as it is (no split test performed here: that’s the point of this strategy, to split test at the source).

Now let’s see what our results will look like after improving our optin conversions and our CTR only:

– Optin conversions = 200 subscribers (20% of 1000)

– CTR = 60 clicks (30% of 200)

– Sales conversions = 3 sales (5% of 60)

So with 3 sales at $50 we are now looking at $150 month from this one revenue stream. All this without driving any  new traffic to our site.

So what can we take away from this experiment?

What to take away from this post

By tweaking our option form and improving our CTR, you can double your number of sales without:

– driving additional traffic

– and split testing your sales page

In fact it often is way easier to test your optin forms (I use Pippity for my popup optins) than to testing a sales page, simply because there are a lot less variables to split test.

Bonus case study

Split test results

In March last month I was able to double my optin rates on a GIS site (very odd niche) by split testing our popup plugin:

– one variant said “Do You Like GIS? Download Our Free Arc GIS Video Training!

– the second said “100% Free Download For LinkedIn Users!”

Given that the majority of our audience comes from Linkedin, the second variant almost got a whopping 15% conversions rates  VS 8% for the regular non-targeted variant.. This mean we are now getting double the amount of subscribers with the exact same amount of traffic.

Easier than doubling your traffic right?

Let me know what you think in the comments, if you had any successful results with split testing and what do you think of this approach.
All the best,

P.S. If you feel like learning more about split testing and conversions, I highly recommend the ContentVerve and Neilpatel blog for a start!

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3 thoughts on “Why doubling your conversions is better (and easier) than doubling your traffic”

  1. I am a newbie and this looks great, but it is a little above me. I will have to look at it a few times. Thanks for your info and taking the time to share with us.

    Don

  2. Awesome post man and great results! I had some mild successes before with split testing before.

    I should try to keep working at it since I can definitely see how tweaking a few things can make a huge difference!

    Keep it coming
    Bob

  3. That’s the first time I see your blog, I love your articles! What did you use to split test your optin popups?

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