We hear the word “conversion” being tossed about in reference to websites and online activities. But what exactly is a Website Conversion? You need to know.
Definition of a Website Conversion
A Website Conversion is the exchange of consumer data or currency in exchange for an offering of a product or service with a perceived value equal or greater to that which the consumer is giving up.
So, you can’t ask for customers’ emails without offering something in return. And, if your offering is not perceived as valuable, seen as a trick or scam, or if you ask for too much information too early on in the relationship (point in customer purchase funnel), you may lose that customer. Forever.
By definition, a Website Conversion cannot occur at the top of the purchase funnel because that is the Educate Phase. Conversion can occur at the Engage and Embrace stages in the funnel. Logically, a Website Conversion occurs, by definition, at the Engagement phase. (View the 4 E’s of Content Conversion here).
Examples of Conversions
Four E’s of Content for Inbound Marketing
Conversions occur when you collect consumer data. This could occur online, onsite, or offline.
- Free product trial (Engage)
- Free downloadable content (Engage)
- Free webinar/seminar (Engage)
- Newsletter sign-up (Engage)
- Sweepstakes (Engage)
- Customer purchase (Encourage)
- Charitable donation (Encourage)
- Suggestion of additional similar items at checkout (Encourage)
- Post-purchase follow-up email (Embrace)
- “Customers who purchased this also bought…” (Encourage)
- Loyal Customer Programs (Embrace)
Shared Website Conversion Definition
Between Marketing & Sales
By documenting goals & objectives and sharing them between Marketing & Sales, your organization can begin to qualify leads. Over time, this leads to greater efficiency in the sales process because Marketing hands over more qualified leads to Sales. These are called Market Qualified Leads (MQLs).
MQLs are defined by their interactions with your brand/website online. You can score Prospects’ onsite behavior the following ways:
- Frequency of Visitor
- Recency of Visitor
- Page depth of Visitor
- Content consumed by Visitor
- Amount of consumer data offered by Visitor
Together, Marketing & Sales can infer intent and interactivity of Prospect onsite behavior. They can then collectively assign a weighted score on this activity.
When a Prospect reaches a mutually agreed upon score a Lead becomes an MQL and is handed off to Sales for follow up (in addition to automated follow up). Your sales team may now access data to follow up, speaking intelligently about a Lead’s needs and how your product/service may satisfy those needs.
Much of the assumption and guesswork from salespeople may now disappear.
Scoring Market Qualified Leads makes it easier for your organization to fulfill a customer’s needs on an individual basis!
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