In this marketing tutorial we will be looking at a super simple but guaranteed method that will increase sales massively without having to increase traffic to your website.
The methods I am about to outline come from an in depth study made by Marcus Taylor, CEO of Venture Harbour.
What you will learn specifically is how to convert traffic into leads better than 99% of Internet Marketers. In other words better than your competition!
Just consider what a 300% increase in sales could do for your business:
- It could be the tipping point that makes your business into a seriously profitable organisation
- Perhaps you phones will be ringing off the hook because of all the extra leads coming in
- Maybe it could mean that you can move your team to a beautiful new office space
- It could provide you with the marketing engine to take a back seat and hire more people to take on the workload
- Or, it could be the stimulus that allows you to sell you business and retire early!
And before you think – “yeah right, as if that can happen from reading one tutorial” – I will show you the numbers on how implementing the strategy I discuss below helped many businesses generate a serious increase in revenue.
What You Will Learn:
- What is a Good Conversion Rate
- Why Lead Generation is Broken and How to Fix It
- 4 Principles for Upgrading Your Lead Capture Forms
- How to Capture 3 Times as Many Leads in the Next 30 Days
What is a Good Conversion Rate?
In marketing a 3-5% conversion rate is considered to be a good conversion rate.
But imagine if you could push those numbers up to between 40-60%?
There are many internet marketers out there making a lot of noise about conversion rates. Many are quick to share opinions and advice.
But the only way to judge what works in the market is by researching and examining the data.
This is the only way we can be 100% sure of what is working and what will bring significant increases in your lead generation strategy.
Why Lead Generation is Broken and How to Fix It
You are at a trade show, you are standing at your business’s stand.
Along come three different people – a CEO, a Marketing Manager and an Intern.
Each one of them ask for some advice relating to your brand.
However, before you answer you tell them that you need all of their personal details.
At this point you will probably find that you have alienated quite a few of your potential business leads.
Then you ask them to prove that they are human!
Then 24 hours passes before you respond.
Wait – where has everybody gone???
In the real world a business owner would treat their leads as if they were a precious commodity.
The first thing to do would be to identify their problem.
Maybe, like any good salesman, change the approach to suit the needs of each lead.
Then assess what would be the best way to assist them.
When you think of it like this it seems ridiculous to ask a potential lead for all of their personal details before deciding if or not to help them.
But in the online world this is what internet marketers are doing all of the time.
Most marketers have long, complicated contact forms placed in the wrong location on a site.
The emphasis is nearly always on the business collecting the user information as opposed to putting the emphasis on helping the lead.
Why is it like this?
Simply because this is just the accepted norm.
Since the birth of the internet, webforms apparently haven’t changed all that much.
This is the reason why there is a 99% drop off rate for many businesses at this point.
Many users leave a website at the point where it matters most because often they are reluctant to submit their personal information.
In short the form causes unnecessary friction.
…make your website do what you would do in the real world.
Instead of putting all users into the same one size fits all bucket, provide a solution that is tailored towards each individual user’s requirements.
Instead of using a single opt in form for each user, insert an interactive form that implements a solution-focused conversation.
That is – a form that will provide a different result or answer that will successfully help them find a solution to their problem.
Never forget that all of the users on your website have come because they are searching for the solution to a particular problem.
So if you can quickly offer an actionable solution to their problem, your conversion rates will increase massively.
Take a look at the Developer Website Crew.
Instead of a generic sign up form they offer an interactive form that functions like a quiz.
The form asks the user a number of questions and then tells them whether it is better for them to develop a mobile app, a mobile site or both.
It is only at the end of the interaction and after they have offered a solution that they ask for the user’s details.
By providing a solution to your users before asking them to do anything with their personal information you are much more likely to be able to convert them into a lead.
Venture Harbour tested this strategy out across hundreds of both B2B and B2C Websites across varying industries and saw a massive increase in conversions as a result.
The way forward based on these kind of results is certainly interactive forms.
4 Principles for Upgrading Your Lead Capture Forms
From testing this strategy on 100s of websites Venture Harbour discovered that there were four main principles that when applied correctly could massively increase sign up form conversion rates:
In this section of the article we will take a look at each principle to see why it plays such an important role and ultimately why it leads to so many more conversions.
#1 – Interactiveness
Filling out forms has a negative connotation.
There are many reasons why. It could be filling out a tax return form, filling in a license application, or some other kind.
The truth is, when you think about it, when ever have you looked forward to filling out a form?
Forms are usually long winded, ask you to divulge information that you wouldn’t normally be putting out in the open, and potentially involve a lot of effort (especially if you fill one out wrong and have to start over again).
“I love filling out forms” – said no one, ever
Now that we have that in mind cast your attention back to the website sign up form.
For many people the sign up form conjures up similar negative feelings.
The answer is to remove the stigma attached to the sign up form by making it into something completely different. By making the sign up form into something fun and engaging the association with it will become much more positive.
Let’s try a small experiment.
Take a look at the two forms below, and consider which one are you more likely to click on:
Both of these forms are from the same PPC agency and ask the same kind of questions.
Yet, nearly 100% of people when I run this test choose sign up form B.
Aside from the more eye catching design and colours, form B is a multi-step form. In other words the questions are split up over a series of steps.
From our experience we found that multi-step forms convert 2 to 3 times better than generic, one size fits all sign up forms.
But don’t just take our word for it.
Take a look at the site AdvancedGrass.
They changed their sign up form to a multi step form. Instead of the usual sign up form, they implemented two steps to the sign up process and saw a massive 214% increase in sign ups.
That’s a pretty staggering increase – just for changing the form.
So why do multi-step forms convert better?
- Less of a psychological stigma
- Less overwhelming first impression
- Sunk cost fallacy
Sunk cost fallacy
This refers to the amount of time put into something balanced by the reward you get out. In other words, when a user puts more effort into some kind of interaction they are much more likely to complete the while process.
This is why computer games are so addictive. The more effort that a gamer puts into completing a level on a computer game the more likely they are to complete it.
In the same way, if a user has already been through two stages of an opt in process, they are more likely to finish off the process by filling in their details at the final stage.
Here is another example from the forex trading site Brokernotes:
The first impression with this example is that it doesn’t actually look like a sign up form. Instead it looks more like a tool or a quiz – ie something much more fun.
Having the image present also makes it much more appealing to the user.
All successful salesman are able to adjust their pitch to suit each potential client.
Your site users are not all the same. So it doesn’t make sense to treat them as if they were.
It’s relatively easy to implement a form that provides a more customised experiences. For instance, it could be something so simple as to re-direct users to different landing pages depending on their answers to the form.
Another instance would be to use logic to ask different questions based on users’ previous answers.
Take a look at this sign up from from the site Brokernotes.
Brokenotes offer two possible sign up form scenarios aimed at traders.
If you read question two, you will see that is asks the user – “how experienced are you?”
Now, in the first scenario, when the user checks the radio box for Beginner, no further questions are asked.
However, in the second, when a user selects – Experienced – they are presented with a third, more advanced question, about what are they looking for in a broker.
Now a beginner may not know what it is they are looking for.
As a result the sign up form uses logic to only ask that question if the user is an experienced or advanced trader.
An advantage to this example is that the sign up form can be made shorter, and require the inputting of less information.
Another way to employ this strategy would be to send users to different “Thank You” pages once they have submitted the forms.
Each “Thank You” page could then contain a link to a different product page depending on it’s relevance to each user’s enquiry.
For example, if the user’s business is a consultancy firm, then the landing page could display a link to product demos only related to consultancy firms.
Using logic in this way makes each experience more like a real world scenario.
From a marketing perspective a webform that provides additional segments presents much opportunity for super targeted marketing communication further down the line.
Take a look at this example of a marketing email from Leadformly:
Thanks to the variables collected from their sign up form, they are able to send a much more personalised marketing email to their leads.
The results included a massive 44% response rate! Those are serious numbers and much higher than most companies open rates!
Try to think now of other variables that your sign up form could cater to and so begin segmenting your leads. You could also provide solutions based on different budgets.
Another effective method for improving user experience is to use technology to set default answers in your sign up forms.
For instance, the sign up form could select default information about a user based on information that is actually provided by the user’s browser or IP address.
Consider that many forms ask users to select in which country or state they are based. Now the sign up form could easily predict this simply by looking at their IP address and suggest a default answer.
In so doing, the user has to put in less effort to fill out the form, again improving the experience.
The same could be applied to telephone extension numbers. All of this information can be guessed by examining information that is already provided.
A few years ago Stanford Professor BJ Fogg cam up with this behaviour model:
What he discovered was that if you want to increase the chances of someone filling in their details on a sign up form there are really only two variables that you can work on:
- Increase their motivation
- Increase their ability
A great example of this is from the website Expedia. They discovered that there was on unintuitive question in their sign up form.
When it was removed they saw a whopping $12 million increase in sales coming through that form!
The problem was that in their old form they were asking users what the name of their company was.
This was causing a bottleneck in the sign up process.
As a result many users that did not have a company were unsure as to whether or not they were in the right place.
Remarkably this one unintuitive question was costing them a huge amount of money and by removing it they saw a massive increase in profits.
Many sign up forms present the same issue. Whilst a certain question may make sense to a business, it may have a completely different meaning for the site users.
Webforms that require users to enter their address are also a big red flag. Whenever I come across a situation where I am required to input my address to a sign up form I am put off. I instantly think that I don’t really want to be receiving anything in the post.
The solution to this again is very simple.
Identify why it is that users are dropping off at the point of sign up.
Understand Your Site Traffic
My recommendation is to check out this amazing free tool called HotJar. It’s an application that offers an easy way to truly understand web and mobile site visitors and find out what specifics are available for growth right away.
It contains analytics for your sign up forms, as you can see in the image above. It will present you with a range of data as to why users are dropping off before sign up.
All you need to do is embed the code into your website and then you can watch video clips of users interacting with your site.
Right away Hotjar makes is able to identify where exactly site users are getting stuck on any platform.
Take a look at the ecommerce site MusicLawContracts.com. This is a platform that offers people that work in different areas of the music industry the right contract for their company.
They were face with an issue that their users were visiting the site and spending over 20 minutes browsing but failing to complete a sign up or purchase.
By installing HotJar they were able to see that the site visitors were confused as to what service they required. They didn’t no for instance whether or not they needed an exclusive or non-exclusive contract. The result was that they were browsing back and forth trying to identify variations in each contract to if it was relevant for their needs.
Again the solution was simple.
They introduced an interactive form which allows the user to select what their profession in the music industry is. For instance some would choose I am a producer, or I am a promoter, etc
Then the form gave them the option to select what they were looking for. For example: I want to book a band…
The result was that the user could then be sent direct to the right product based on the choices they made in the sign up form.
By segmenting leads in this way they were able to increase sales growth by 89% and average order value by 58%.
Crucially in this example users were spending less time on the site.
This is because the leads were getting directed to relevant products much faster.
The result was a massive increase in conversions and in the amount of money users were spending on each purchase.
There are a whole range of variables that can be employed to optimise web sign up forms.
The guys at Leadformly tested out literally hundreds. These included the size of the fields in relation to the finger sizes on the keypad and how different demographics of users interact with different sign up forms.
If you would like to see the results of all of their findings you can download their eBook – Anatomy of a High Converting Form.
We now come to the final principle guiding sign up form conversions.
Consider that when you come to an agency website or ecommerce site.
Soon enough the site will present a sign up from.
Would you prefer a sign up form that provides you with a free proposal (A) or one that offers for you to send an enquiry (B)?
Of course most people would opt for the free proposal.
It’s more valuable, more tangible, more personalised and deals with the primary concern in a B2B context – how much is this going to cost?
Simply sending an enquiry does’t answer that question.
Venture Harbour ran a split test using the two sign up forms and saw an increase in conversion rate from 0.96% on form B to 8.1% on form A.
Think back to the Fogg behaviour model. We spoke earlier about increasing ability to sign up, in this case we are examining increasing incentive to sign up.
Just imagine what kind of sign up rates you would expect if you offered your users a free Ferrari upon sign up form completion!
What this demonstrates is that simply changing the outcome of the form can dramatically increase the conversion rate.
Try to think what you could offer to increase the motivation for users to use your sign up form.
How to Capture 3x More Leads in the Next 30 Days
In order to capture 300% more leads a sign up from must be:
These are the principle that separate high converting forms from low converting forms.
If your website is already receiving traffic – improving your sign up forms could help you increase your leads by 300%.
Sign up forms are usually the biggest bottleneck. These would be the first place to start to increase your conversion rates massively.
Plus they will also drive an increase on ROI for all your other marketing mediums. Think how your returns would look for your investment in SEO, Media Buy and Adwords campaigns.
How to Build an Interactive Sign Up Form
The most common way to build a more interactive sign up form is to design, develop, deploy and test.
This will certainly bring back an increase in leads of around 200-300%.
The downside with this method is that it is time consuming and can be expensive.
Another option is to check out Leadformly.
Leadformly have streamlined the whole process from set up to deployment. They offer an internally built software with a list of fully customisable templates.
Simply choose a form, customise and embed the code on your site where you would like the from to appear.
There is also an analytics platform so you can see how leads are converting, the value of leads over time, and how to optimise each form.
Leadformy integrates with virtually all of the main CRMSs and marketing platforms. It can even integrate with webhooks to custom platforms.
So if you would like to see your business leads triple head over to Leadformly and give it a try!
Check Out the full presentation – How to Acquire 300% More Leads Without Increasing Site Traffic from Marcus Taylor, CEO of Venture Harbour