15 Ways to Improve Sales Conversion Rate in 2023 [+5 Examples]‍

15 Ways to Improve Sales Conversion Rate in 2023 [+5 Examples]‍

Nalin Senthamil
July 27, 2022
5 Min
min read

Have you noticed that your conversion rate hasn't changed much even though more visitors are coming to your website? They're taking action, but not the action you want them to take.

Doubts probably sneak into your mind - are visitors interested in what you're selling? Or do they have any queries on the product?

If you can resonate, you are not alone. There are multiple tried-and-tested conversion strategies available to boost your sales. And the best?

We covered you with the top 15 tips to get a better conversion rate while giving real-time examples. 

Let's explore! 

What is a Good Sales Conversion Rate? 

Conversion rate is the term used to describe the number of website visitors who not only browse through your content but also convert into leads, customers, or clients. 

A sales conversion rate of more than 10% is a better conversion rate. Some companies have conversion rates above 10%, with a small percentage going as high as 11.45%. The average conversion rate differs depending on multiple factors!

But, will they differ as per the industry?

Yes. For example, conversion rates in e-commerce are much lower than in the finance industry. It is worth noting, however, that these numbers are five times higher for projects in the top 10%, regardless of the industry.

The graphic below illustrates how Unbounce's detailed report breaks down conversion rates by industry:

Source

Furthermore, comparing your conversion rate to the average conversion rate throughout all industries can be misleading! Because it tends to make, you think that you are doing better than you are.

But the truth is, the top 10% of companies are achieving almost five times better and outperforming your rates. The question is, how do you get there? 

Keep reading because you'll soon find out!

How to Calculate Sales Conversion Rate?

You can calculate the sales conversion rate by dividing the number of sales you got by the number of leads you acquired. To get the percentage, multiply it by 100. Let's simplify this further, 

Conversion rate = (Number of sales / number of leads)*100

As one ascends from one to the next step, a conversion is made, and the visitor is said to have moved up a step. This conversion rate is called sales funnel efficiency. Let us understand this number with a real-time example. 

Let's assume that you made 50 sales last month with 150 leads on your hand.

So, the conversion rate would be = (50/150)*100 = 33%

Thus, your last month's sales conversion rate is about 33%. 

15 Ways to Improve Sales Conversion Rate in 2023

The end goal of any business is to taste high sales conversion rates rather than sticking to a stagnant metric. But the question is, how can you improve your conversion?

Below are the 15 steps to increase sales conversion rate in 2023.

1. Narrow down your leads 

You will have zero conversion rates when you focus on converting leads who show no interest. From a marketing perspective, it is optimal to enhance your conversion rates if you fill your funnel with quality leads. While doing so, marketing campaigns can focus on getting those leads as fruitful customers in the future! 

By doing so, you can enhance your conversions to match your vision and values; you can spend less time selling to prospects and more time making decisions.

2. Add exit-intent popups 

Ever stopped by a popup that opens up when you press the back button? 

Source

We have all been there, and these are the exit-intent popups. But why should you care for these? Because pop-us have resulted in 30% increased conversion rates. 

Exit-intent popups flash a message on your page when a user's mouse hovers over the browser's 'back' button. This lets you display urgent messaging to persuade the visitor to stay on your site by giving them an offer or a special discount, for example. While doing so, you can either retain your user within the website or push them to take action. 

3. Build trust with social proofs 

People need to trust you before making a purchase. And the best way to develop trust is to list reviews of people who trusted your brand. The reason?

Because 93% of potential customers will read online reviews before deciding whether they want to place an order, a sure way to impact your sales conversion rate is social proof.

Your social networks influence whether or not customers will choose you. You can add social proof, like customer reviews of your product and testimonials on your site! If you want people to buy from you, you need to tell them that what they've heard about you is true!

4. Interactive product demo 

The best way to pique your prospects’ interest is to talk about the features and benefits of your product and how it can better their lives. 

However, a more effective and engaging approach is to let them try it themselves. Adding an interactive product demo on your website allows your customers to take that first-hand experience onto their own and evaluate whether or not they like what they see. The best part is that you can even use your product demo to capture leads from your traffic. 

For example, we helped Toplyne to get more leads from their traffic. If a user wishes to explore the product demo, they have to provide their work mail address. 

Source

This way, you can pull the warm leads to your bucket and nurture them to pull out as customers. When they know how beneficial your product is, sales will happen automatically.

5. Tweak your CTA 

Every business and every product is different, but we are all striving for the same results - high engagement rates and successful conversions. One of the best ways to ensure this is by strategically planning your calls-to-action so that your readers know exactly how to use a particular feature or why they should learn more about something you're promoting on your website.

Reliable strategies include ensuring that CTAs are highly visible, simple to understand, and intuitively placed on web pages. 

CTAs should always lead visitors toward taking advantage of what you offer. Make it clear where supporters are going when they opt-in for a specified offer such as a free trial period or money-saving coupon code. 

6. Cater to your user's expectation

Think from the user's perspective! They are hooked on your headline and decided to read your blog. Will they continue reading it if they haven't found what they are looking for?

Nope! Moreover, they will exit and hardly revisit your site. 

It negatively impacts your sales conversion rates too! That's why catering to your user's expectations is so important. Ensure that your headline and the body content sync and cater to the users to taste better conversion rates. 

7. Be strategic on your signup forms

There are many reasons that users don't convert, but the most important one has to do with friction. It happens when your users hesitate to take action within your site.

For example, if your form is too long and you expect a lot of detailed information, prospects might hesitate to complete it.

By removing the unnecessary form fields, you can help ensure their confidence; it opens the door to a higher sales conversion rate.

Shorter forms equal trust, and when people trust your brand, they're more likely to do business with you.

8. Optimize your site for mobile 

Nowadays, people are doing everything on their phones; nearly 50% of B2B queries were made from mobile last year. 

Your slow-loading content may cause customers to decide whether they would like to continue reading or move on to another article (or watch another video, etc.). 

So if you want visitors to convert to customers, it is crucial to have mobile-friendly websites that cater immediately to your users.  

9. Perform A/B testing 

A/B testing is a technique that can increase your website's conversion rate, whether you're using it for landing pages or especially while creating a new website design. For example, say you've been trying to figure out what your CTA text should be for your landing page and haven't decided on one yet. 

You can conduct an A/B test that will allow you to see which one converts better without waiting long to experiment with multiple elements. 

You could also use A/B tests for significant website changes like buttons, headlines, images, or any other element on your page that might affect conversions somehow. In essence, you should try doing A/B tests with as many variables as possible, as these have significantly impacted conversions (Now including CTAs!).

10. Leverage the power of chatbots 

If you can't convert a fraction of your website traffic to leads, your visitors might have a question about your product or concern about your product or service. How can you cater to them round the clock?

Interestingly, 57% of businesses claimed that chatbot delivers a massive ROI with minimal investment. 

Source

With live chat, you can quickly determine if your customers are second-guessing whether they want to engage with your brand or not, so you can get right down to the nitty-gritty.

By politely and persuasively guiding customers towards a purchase decision, you can seamlessly wrap things up!

11. Create a focused landing page 

When tailoring your landing page, you need to curate it carefully. Your users must reach your call to action and no other thing. If you add too many multimedia, pop-ups, and other unrelated links, your subjects will be distracted. 

Any irrelevant or unnecessary elements will only distract users from what they came to see. You have to remove all the unnecessary elements that distract your user. Make your page simple only with the elements that push the users to click your CTA. 

12. Redefine your deal 

You should take a step back and take a more objective look at your offering. Why do you think people will be interested in the offer? Are the advantages of your services highlighted enough for people to understand how they could benefit them? 

What else can you say or do to make it even easier for leads to give in? You could provide complementary services or bonuses that add value to the deal. Some sales specialists will slightly decrease initial pricing to win customer loyalty and higher profits later down the line.

This service offering strategy comes in the form of providing exclusive content or additional customizations. 

You should provide dedicated support and onboarding calls to add more value to your offer. Besides helping you build a personal relationship with your leads, it also allows you to gather direct feedback that can align your sales and marketing efforts!

13. Retarget your prospects 

The more time you spend nurturing prospective customers, the better your chances of converting them. Just because they didn't immediately convert doesn't mean they aren't waiting to hear from you again and again. 

Retargeting ads can serve up content and products to them without coming off in an overwhelming way that could risk a potential sale. Because, after all, you know once they've made it this far down the funnel, they're closer than ever to taking action.

14. Invest in content marketing 

Invest in an efficient content marketing strategy that helps you reach out to potential customers without spending your life savings. The most important quality of content is its value. 

Your online presence will improve if you focus on creating high-quality and optimized articles that offer great value to visitors instead of flooding them with advertising. At first, try sending simple newsletters to your new leads, or start a beginner's guide for them, then build case studies for your loyal customers later on. 

15. Lead nurturing 

There are hot sales leads and cold ones, the latter not interested. When you target existing customers, your work is cut out for you, but you need to nurture those who haven't bought yet. Lead nurturing is a systematic process wherein you identify the leads and their interest in your product, sending the most eager directly to sales while others remain on the back burner. 

By targeting specific leads, you intrinsically obtain accurate client data – this ultimately boosts the buying cycle's speed and ensures it runs smoothly for everyone involved!

A small change can bring massive results. 

There are hundreds of ways to increase conversions--it all depends on your audience, goals, and product. There is no one size fits all answer, so you need to be flexible in what you do and not get caught up in strategy from the outset--it's important to test! 

These examples clearly show that a small change on your landing/webpage can improve sales conversion. The best way to get sales is to develop trust by showing how your product helps them to solve their problems. 

But how can you do it the best? By the implementation of interactive product tours with Storylane. You can capture your leads and convert them to customers with a demo that walks through the features and educates the importance of your product. 

You can gain their trust and let your customers take action without leaving your site! Wondering how Storylane helps you in the entire process? Schedule a free demo now! 

Supercharge your Funnel with Self Guided Demos.

Request Your Demo