Since the advent of the commercial Internet, I have collected tens of thousands of data points that have given me the ability to identify what I call the 8 Money Drainers.
These are the 8 critical mistakes that literally cause a website to leak serious money every day.
One of the most expensive money draining mistakes to a business owner is Bounce Rate.
What is bounce rate? Bounce occurs anytime someone visits a page within a website, and for whatever reason, they decide the page is not what they were looking for so the person leaves without making one single click on any of the links found on the page.
During the last 20 years of research and client experience, I have found the average business website typically has a bounce rate of 50 to 60 percent.
Or said another way, well over half of all visitors to a business website immediately leave before making a single click.
Business owners have invested hard earned money into building their website and then invested more money toward advertising their business and website address. Only to have 50 to 60 percent of all their website visitors immediately leave.
Bounce rate literally drains cash right out of a business every day.
However, there are three simple and practical steps that immediately reduce bounce rate by 20 percent or more. Here’s how to reduce bounce rate.
Step 1: complete the X-Y-Z Exercise. This consists of a business owner answering three practical questions.
Question 1: We do X (where “We” represents the business and “X” represents the products and services delivered to customers by the business.
Question 2: For Y (where “Y” represents the customer profile of the business).
Question 3: So they can Z (where “Z” represents the specific result outcomes customers receive from the business’s products or services).
And then place the XYZ message (typically a couple of brief sentences) on the Home Page in the upper left so it is above the “fold”. People read / scan online from top to bottom and left to right just like in print. So the XYZ message needs to be in the upper left of the site so a business owner can be assured it will be seen and have the desired impact.
I first learned the 3 questions within the X-Y-Z Exercise from Darren Hardy, publisher of SUCCESS Magazine while attending his High-Performance Forum. Darren has since become a good friend, invaluable mentor, and a member of our board of advisors at Predictive ROI.
Step 2: eliminate visual clutter from the Home Page and the site’s content pages. Photos, graphics, copy, links, and offers are all good things. However, it has been our experience that the typical business owner tries to do too much within a single content page and unintentionally presents too many options to website visitors.
Visitors can get distracted or overwhelmed when there are too many options. This results in no action being taken and increases bounce rate.
Business owners should remove any graphic, image, or messages from a page if the graphic, image, or message in question does not relate specifically to the goals of the particular page.
Three options are easier for a visitor to consider versus nine.
Step 3: present visitors with a clear call-to-action. For example, 1) Download this free eBook, 2) Register Now, 3) Buy Now, 4) Attend this Webinar, 5) Subscribe Here, etc.
Visitors also like steps in a process, i.e. “Get started with Step 1, Step 2, and Step 3”. Then explain each step in the process. This provides visitors with a simple and easy-to-understand framework for getting started … quickly.
These three steps will reduce bounce rate by 20 percent or more.
This article was written by Stephen