No your A/B or multivariate test is not keeping data from you…
But there is information, which will be revealed in this blog post, that if you had could dramatically increase your conversion rate optimization results.
You see, marketers think they know why their product or service is great. At least they think they know, which is why they usually fill any marketing and sales message with benefits and features. Sometimes your customers are on the same page and in agreement if the marketer is in tune with the voice of the customer. Many customer surveys are done to find out what’s important to the customer, and thats all good and valuable information.
But rarely do marketers explore the other side – the reasons why people don’t buy, especially when it comes to conversion rate optimization.
Understanding the reasons why not can be a conversion gold mine and really help you craft your sales experience to get more people to buy and increase your revenue and conversion rates.
Categorically speaking why people don’t buy from you can be broken down into 4 simple reasons. Assuming they are qualified buyers and have landed on your website or landing page with a buying intent.
Reason #1 – They Procrastinate and Wait
They read your sales copy and have a genuine interest and do want to buy but… they do nothing. They leave. they don’t buy from anyone else, they just simply do not make a decision. They wait… and wait… and wait… and never buy.
Perhaps they are stuck in endless research mode or perhaps your pitch was lacking a reason to buy now. Can you add a legitimate / genuine element of scarecity to your offer to keep them moving in the buying direction?
Reason #2 – They Do Nothing
Similar to the first group, they got to your sales page and yet you’ve failed to convert them into a buyer. They are stuck. They don’t buy and they move on, not to another website but mentally move on inside their heads and leave the buying mode completely.
Maybe they were distracted by competing calls to action on your page. For this group, can you add an incentive to nudge them over the buying edge? Give them a reason to take action.
Reason #3 – They Buy From Someone Else
This group could have bought from you but they didn’t. They did buy but not from you, you lacked something that made them turn away and spend their money elsewhere, perhaps with a competitor, but not with you.
Sometimes this has to do with price, but this usually has to do with a lack of trust in your brand, your website or your buying process. Often people blame the brand. The problem with that is it’s an easy out. It’s not the websites problem it’s the brand. It’s also an excuse because fixing a brand is a much harder bigger problem than fixing a website.
But there are things you can do if the only control you have is a web page to foster trust. Break down each step in your buying funnel and either add or remove elements to support trust.
- Do you have trust marks?
- Do you have security marks?
- Do you have testimonials?
- Do you have a guarantee? an easy to understand return policy?
And are all of those things at the right point in the buyer thought sequence so they support their buying decision?
Reason #4 – They Buy An Alternative
An alternative is not a direct competitor product but rather a lateral product that substitutes the one you’re selling. They had every intention of buying the solution you offer but they bought something else that does the job.
If you’re selling movie rentals an alternative might be a video game. Both are selling entertainment and are alternative or substitue options to each other.
In this scenario you’ve failed to convince them that your solution was right for them. To begin to unravel the solution to get them to buy you must answer the question, why should they buy this product at all and hit the emotional triggers that are causing them to want to buy in the first place. Remember we make decisions for emotional reasons then justify them with rational ones.
All of the suggestions above can help to combat your prospects leaving for an alternative solution. In fact, when used together they have a synergistic effect that enhances the impact of any one conversion strategy. But as always you need to test for yourself to find what works best for your audience and products.
