Are you looking to increase the number of new leads generated every month? Most companies will answer yes because lead generation is the key ingredient for increased sales and revenue. The more qualified leads you have in your pipeline, the higher likelihood they will convert into customers. But how can you do that? The first, and most important, area of opportunity that many companies don't realize is the concept of Conversion Rate Optimization. According to HubSpot, conversion rate optimization, or CRO, is the process of enhancing your website and content to boost conversions. A high conversion rate means your website is well-designed, formatted effectively, and appealing to your target audience. This allows you to:
- Grow qualified leads
- Increase revenue
- Lower acquisition costs
In this case study, we are going to share how conversion rate optimization improved the visit to conversion rate for one of our clients who was looking to generate more qualified leads to grow their pipeline and sales opportunities.
Our client is in the technology industry. Before working with Prism Global Marketing Solutions, they were using HubSpot, but not taking advantage of the tools and functionality. Their primary challenge was knowing they had a powerful marketing engine at their fingertips (HubSpot) but needed a firm that could help them leverage the Hubspot marketing engine to grow their business and connect with their prospects. Over the last two years, our team has worked on strategies for conversion rate optimization, lead generation, lead re-engagement, and account-based marketing.
What Were the Results?
- 327% Increase in Web-to-Lead Conversion Rate (Conversion Rate Optimization): The first thing we did when we started working with this company was assess their website. By adding a call-to-action to each website page to link to a dedicated landing page, we started to see results almost immediately. Remember that when someone visits your website, they want it to be a seamless experience to find the information they need. By guiding them to the next appropriate step through a call-to-action button, you can start to see conversion improvements very quickly.
Below is their overall performance with all sources combined so you can see the growth compared to the same timeframe.
- 326% Increase in Paid Search Leads: Prior to working with Prism Global Marketing Solutions, this organization was sending all of their paid search traffic to a page that didn't have a form for visitors to submit their contact information. This limited conversions because when prospects clicked on the ad, they had no way to convert on the page. We created dedicated landing pages with a form for each of their search campaigns to drive traffic to the pages that matched exactly what they were looking for when they searched online.
- Other Sources Driving Increased Conversions: In addition to the above, we saw an increase in all of their main sources driving traffic to the website including a:
- 515% Increase in Organic Search Leads
- 144% Increase in Referral Leads
- 85% Increase in Social Media Leads
- 102% Increase in Call-to-Action Views to Submissions: By adding a call-to-action button to each page of the website, and making sure the content was aligned with the buyer's journey, we quickly saw an increase in views to submissions on calls-to-action. We then re-optimized all of the call-to-action buttons to be dynamic based on the lifecycle stage of the individual. For example, if an individual had already converted on a specific eBook or Whitepaper, we would deliver them another piece of content through a dynamic call-to-action. This is the real power of using HubSpot as an all-in-one tool because you have a level of integrated data not available in most platforms.
- 30% to 40% Form View-to-Conversion Rate on Pop-Up Forms: One proven way to drive top-of-the-funnel leads through conversion rate optimization is using website pop-up forms. You have probably seen these on sites that you have visited where if you are about to leave the site, or if you have browsed for a while without taking action, you will trigger a pop-up form asking for your email address to subscribe or download a piece of content. These are great ways to capture information about a user before they abandon your website. On average, this client has seen a 30% - 40% form view to new contact conversion by using pop-up forms. We use these for downloadable assets, scheduling a consultation (only when appropriate), and a general subscription offer.
- 110% Increase in Email Click Rates: Conversion rate optimization doesn't just have to be about generating new leads, but is also about how you can re-engage existing leads. Email marketing is a powerful tool that is often underutilized. This client had a lot of leads in their database, but weren't engaging them with any new content. By developing an automation program for new leads and then segmenting that by lifecycle stage, they were able to see significant email marketing growth. This is through a combination of the content delivered, simplified email templates, and a single call-to-action to drive clicks and engagement resulting in:
- 18% increase in email open rates
- 110% increase in click rates
- 63% decrease in hard bounce rate
- 46% decrease in unsubscribe rate
As you can see, there is a lot that goes into conversion rate optimization. It is a combination of identifying your buyer's journey, determining what content is going to be best to help your prospects along the way, and adding elements to your website such as embedded forms, pop-up forms, and calls-to-action to guide a prospect down the path to purchase.
If you're interested in seeing how you may be able to improve the conversion rate on your website to drive more leads, simply click here to schedule a complimentary consultation.