With the recent instability of our economy, many online and traditional marketing companies are having a hard time convincing their clients that they should continue to pay us. Everyone knows that more often then not that marketing dollars are often the first to go, most of us also know that the companies that make smart use of their marketing dollars in economic downturns often can gain considerable market share.
Two strategies that can have great impact on the bottom line during hard times without spending a lot of extra money are website optimization and conversion optimization. Both of these processes are closely related but differ in a few areas; website optimization focuses on making your website comfortable and easy to navigate for the user while conversion optimization focuses on the final steps to get your customer to complete your conversion goal.
The immediate benefits of website optimization is a lower bounce rate, higher pageviews and more time on site due to greater user comfortability. Conversion optimization will help funnel existing users to complete your goal, whether that is to purchase a product of download a whitepaper.
Both of these strategies can work very well in situations where the decision maker is hesitant to spend money for two main reasons: One is that with a solid analytics program you can offer hard numbers on the difference you have made for the client. Managers and clients will be less resistant to spend money if you can show them with hard facts that what you did helped, no more guesswork. Reason two is that the time it takes to see if the changes you have made is less than the time it takes to determine if traditional methods have been successful. This short time to results is much easier to pitch to a client.
Probably the biggest advantage to these strategies is that you can use your current customer base as your target. The entry sources are already in place wheter they be organic search results, direct entries or ppc campaigns. If you are currently converting at .5% and you can optimize your checkout process to increase your conversion rate to 1%, you have effectively doubled your revenue, signups or whatever your metric may be. That sounds pretty cost effective to me.