Small businesses drive the market and have a huge potential for growth. However, this potential is barely realized because most small businesses do not have the right tools and resources.
There is a huge consumer population out there waiting to be tapped into. Even just a fraction of that population can tide over a small business for years. But sadly, a majority of small businesses do not have the tools, skills, and technology to take advantage of this exciting opportunity.
The result? A depressing large percentage of small businesses barely make it to their 2nd year of operations without being in the red for at least 6 months.
What’s even more depressing is that small businesses may have huge traffic but very low conversion rates. That amounts to lots of potential new customers leaving and a huge potential profit slipping out fast.
Not to worry, though, as a new trend is emerging to help small businesses increase their conversion rate.
Ever heard of software tools that can help improve conversion rates? They’re not a hoax or a scam that robs small businesses of their hard-earned money. These software tools are incredibly helpful.
What do software tools that increase conversion rates do?
Software tools that help increase conversion rates work much like the Simplorer. These tools design and simulate websites and other marketing tools, then run them through simulations to gauge how well the market will respond to them.
This way, small businesses can reduce the cost of advertising and any material they release has higher chances of favorable responses. This can help increase the chances of leads converting into clients. These tools help increase conversion rates for any small business and ensure operations for serious business deals.
How does software that increase conversion rates work?
Take for example the platform called ansys simplorer. This is a very powerful platform used for creating models, performing simulations, and making reliable analyses of virtual system prototypes. This is a highly useful tool that helps a company’s product development team verify and optimize the performance of system designs controlled largely by software and deals with multiple domains.
Software tools like Simplorer make it more convenient to hold simulations and make adjustments to designs should anything turn out amiss. The proper adjustments can be made before the final actual industrial equipment comes out. And by this time, the equipment would have gone through all possible situations and passed through tests, making it safer and more reliable.
What specific functions do these software tools perform?
These software programs work in various ways. The most popular is by performing an A/B test. Two versions of a website or a marketing strategy are created and then run through the testing software. The version that returns more favorable outcomes is adopted.
Some software tools help generate leads that are more accurate and with higher probabilities of needing the small business’ services and product offerings. This narrows down leads and makes sure that each lead generated really has a need for what the business offers. This is another way of increasing conversion rates.
Some software has lead nurturing programs that collect all captured leads and then coax all these leads into buying. This type of program zeroes in on leads that have the highest conversion probability. This method segments the list of leads and then creates targeted content so that efforts are concentrated in those with higher probabilities.
More on the lead nurturing program
This type of software tool for increasing conversion rates is fast becoming a popular platform among the top 79% of top performing companies. This is a very effective tool that minimizes sending too much sales material and garnering too few conversions.
Email personalization is one method used in the lead nurturing program. This method has been shown to boost conversion rates by up to 10%.
Lead qualification and improving lead quality
Recent trend reports among small businesses, as posted on inc.com, state that 68% of B2B marketers consider lead quality a top priority. So it’s not just getting loads of leads but about getting quality leads. That may be casting the net a little narrower, but it will have higher yields with fewer expenditures.
Getting a clear framework of the buyer is critical. This includes making a clear demarcation between SALs, SQLs, and MQLs. This also includes clear definitions of qualified sales, accepted sales, and qualified marketing.
Defining leads as “sales ready” is another vital aspect. Is the lead displaying actions and satisfying criteria indicative of interest in the product/service and intent to avail?
Data verification software programs
Market reports from various companies (according to entrepreneur.com) show that an estimated 40% of small businesses suffer from having poor quality in lead data. This largely hinders conversion rates from increasing and businesses from soaring higher.
Poor data quality include but are not limited to invalid formatting, duplicated data, error in email validation, and missing fields. These issues may seem small but they can lead to devastating results like issues with deliverability, botched personalization (i.e., sending the wrong personalized email), and unreliable lead scoring systems. However, these can be minimized by using a more comprehensive software program.
Competition is so much tougher nowadays. A small business can quickly go up in flames even before it has even started because of poor preparation and insufficient tools and technology.
By using the many software programs designed to improve conversion rate, a small business has a fighting chance to evolve from an unknown company to a top performer. All it takes is availing of software tools best suited for the kind of company you have, your target market, and your business goals.