Better Conversion Rate On Salesletter

[DigiTips]

Hi Folks, what is considered good when it comes to salesletter conversion rates? Im getting 10% at the moment, is this average, good or bad??

[Paul Hancox]

Hi DigiTips

Many on this forum would consider 10% excellent, including myself. Congrats!

On the other hand, it's all relative to how well your sales process can potentially convert. If you could improve that to 15% by further testing, then you're still 5% short!

I don't like comparing "industry averages", because there's so many factors that go into a conversion rate, such as your product, your offer, your market, your pre-sell, how targetted the traffic is, etc etc.

If you're selling a $50 million jet, then a 0.001% conversion rate might be excellent

It's much better to determine how well you're doing, based on how well you COULD be doing, and also your RETURN ON INVESTMENT.

Having said all that, congrats on the 10% conversion rate! That's still pretty impressive.

[Kyle Tully]

Yup like Paul said, it's all relative.

If you're spending $100 to make a $99 sale then a 10% conversion rate will just send you broke 10 times faster than a 1% conversion rate

It's all about ROI.

[Neil Morgan]

I agree with the others.

I don't worry about conversion rates these days.

I track visitor value instead because its a function of price, conversion rate and cost of the sale, measuring profit and not just the number of people that whip out their credit card.

If you can move your visitor value upwards then you know you're on the right track, which may not be the case if you focus only on conversion rate.

Cheers,

Neil

[DigiTips]

Thanks guys, the product in question is a podcast, so its cost me nothing exept hosting the salespage. Im charging $7 for the report, but was thinking if i should offer it for free to get leads instead. Current stats show 73 visitors and 7 sales, since the site went live. i personaly feel this can be improved by adding some nice looking graphics, as the web page is a very basic, short salesletter. maybe a video aswell, or just leave it the way it is?

Leads...money..hmm...

[Neil Morgan]

I personaly feel this can be improved by adding some nice looking graphics, as the web page is a very basic, short salesletter. maybe a video aswell, or just leave it the way it is?

Whatever increases conversions.

In other words, you need to test.

Your numbers are still too small to make any valid judgements. Let it run for a while then make a change and see what effect that has on your conversions.

If they go up, leave the change in place and test something else.

If they go down, go back to the original and test something else.

Cheers,

Neil

[colmodwyer]

73 visitors and 7 sales

Be careful about cash flow projections and what not until your figures are a bit more statistically significant. With only 73 visitors, I wouldn't assume a 10% conversion just yet...

Wait until you've had at least 10 times 73, then you'll be on safer ground to work out what you're converting at.

Colm

EDIT - LOL. This is a brilliant headline digitips -> http://www.youtubedominator.com/

[Rob Canyon]

Hey DigiTips,

Let me get this straight... You did a podcast... Do no ongoing promotion...
spend no ongoing money... and this thing you did earns money for you...

over and over and over.... be it only a small amount to you...

I'd say you'd be well advised to leave what you've done... repeat the process another 5 - 10 times...

then create a WSO to show anyone how easy it is...

people IMHO would eat this up...

Cheers,

Rob