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Basics of Website Visitor Conversion

Basics of Website Visitor Conversion

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Published by: saurabh.kum on Feb 13, 2010
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05/21/2010

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The Basics of WebsiteVisitor Conversion
A Whitepaper from TopicaJanuary 2007
 
The Basics of Website Visitor Conversion
2
www.topica.com
The Basics of Website Visitor Conversion
Table of Contents
A. Introduction
.................................................................................3
B. The Conversion Equation
..............................................................4
C. The Components of Website Visitor Conversion
............................5
C.1. Acquire
C.1.1. Capturing the Lead...................................................5C.1.2. Qualification Data.....................................................6C.1.3. An Automated and Effective Welcome.........................7
C.2. Convert
C.2.1. Buyer’s Decision-Making Process................................8C.2.2. Work with Available Information.................................9C.2.3. Keep the Conversation 2-Way....................................9C.2.4. Targeted and Relevant Conversion Campaigns............11
C.3. Grow
C.3.1. After Purchase Up-sell Opportunities.........................11C.3.2. Increase Customer Lifetime Value.............................12
D. Summary
....................................................................................14
E.
 
The Topica Solution
.....................................................................14
 
The Basics of Website Visitor Conversion
3
www.topica.com
Editorial Update:
The Basics of Website Conversion Whitepaper was initially launched on May 2006. Due to its success,Topica is releasing an updated version to guide small and medium sized businesses with their onlinemarketing plans for the holiday season.Due to the dynamic nature of the e-commerce industry, statistics were also updated.
A. Introduction
E-commerce has been a powerful marketing channel over the past few years. eMarketer estimates thatretail e-commercesales will increase anaverage 18.6% per year between 2005and 2009. As moreconsumers utilize theinternet to purchasegoods and services,small and mid-sized businesses arefinding it appealingto do businesses onthe Internet. In fact,according to theYankee Group, over 2 million small andmid-sized businessesdo business onlinetoday.This is all very goodnews to those sellingadvertising and paid search, or operating affiliate networks and other traffic-generating services. Withmore businesses moving onto the Web and actively marketing online, there is also increasing competitionfor available advertising inventory. This trend is particularly affecting small and mid-sized companies, astheir budgets are more constrained and, therefore, their options for purchasing online advertising aregenerally limited. As a result, demand for popular advertising inventory is on the rise, and so are prices.According to eMarketer 
 
advertisers spent an average of $71.51 per user, which eMarketer projects willincrease to $88.28 in (2006) and will inch close to the $100 per user mark in 2007.*.But price increases are not the only trend negatively affecting the online marketer’s success. Notsurprisingly, Forester Research has found that with more ads, performance of online programs isdecreasing and resulting in fewer conversions of first time visitors and higher shopping cart abandonmentrates. Consequently, marketers have to spend more to drive traffic to their Web sites and, at the sametime, are faced with lower conversion rates, all leading to an ever increasing cost per customer.**
*Source: eMarketer US Online Ad Spending: Peak or Plateau, October 29, 2006

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