Yesterday I attended the Triangle AMA Digital Training Camp where I listened to a lot of smart people speak. I was entertained by the great story telling of Peter Shankman and inspired by Brian Dally of Republic Wireless and his story of trying to fix the broken cell phone industry. But the one thing that really stuck in my head was something Gregory Ng said.
Greg is a friend of mine, but also the Chief Experience Officer at Brooks Bell. Sometimes I forget how good Greg is at both his job, and presenting meaningful data. Near the beginning of his talk on converting your visitors into customers, he mentioned that the average online conversion rate is 2.2%! That’s pathetic.
He went on to explain that many businesses focus on driving more traffic rather than converting the traffic they already have. As bad as a conversion rate of 2.2% sounds, it’s even worse when you flip it – it really means you’re not closing the deal on 97.8% of your visitors!
Can you imagine the general manager of your local Target saying to the staff, “We saw 10,000 people come through here today, and we rang up 220 of them? I’m guessing the store would stop everything and fix whatever was causing the problem.
This morning I walked into my friend’s new kids consignment store and started looking at it through this new prism. Was the store optimized? It really isn’t as well optimized as a Target or Wal-Mart. It could be better. I stood staring at the path from the front door, the high-profit items (for consignment) were not the focal point, what about the stuff way in back? What sells more, girls or boys stuff?
After a few minutes I had to leave because I wanted to start A/B testing her store.
When was the last time you sat and stared at your store/website/house/office and thought about ways you could optimize it?