According to a recent study by Nielsen/NetRatings, Amazon.com converts 12.8% of its visitors into sales. Do you know how they do it? A little secret that 99% of online marketers (even most of the so called “experts”) don’t seem to understand is that the smartest, most successful online marketers and businesses invest as much time and money into improving conversion rates as they do in building traffic.
Ask yourself: “Do I spend more time and money building traffic than I do improving my website’s conversion rates?”
Why do companies like Amazon.com invest so much time, effort and money into improving conversion rates? Because even small improvements in your conversion rates can produce huge impacts on your bottom line. Often, boosting conversion rates by even 1% can double or triple the effectiveness and profitability of your traffic building efforts. This could be the reason your competitor can afford to bid 2 or 3 times as much on certain pay-per-click keywords as you can.
Let’s say your site converts 1% of your visitors into customers, and you earn a $100 profit on each sale. With those numbers the most you can afford to spend on each visitor is $1.00 per click. Now, if your competitor is selling the same $100 profit, product and his website converts 2% of visitors into customers. Your competition can afford to bid $2.00 per click to break even. Double your website’s conversion rate, you double the effectiveness of every marketing dollar spent.
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