Excerpt from CPR For Your Business
“The VCOR Process is meant to improve the results of your digital marketing campaign without having the need to spend much more on advertising”
When it comes to business and digital marketing, most businesses only focus on getting high conversion rates and high traffic.
However, there are a lot of other steps we will be able to optimize other than just conversion rates and traffic.
The VCOR Process is a fantastic framework for multiplying and improving the overall results of digital marketing. The VCOR Process includes 4 steps – Visitors, Conversion, Order Value and Return Customers.
So without further ado, let’s get to it!
For most campaigns, what we want is to have more people visit our websites to take some kind of action to fulfill the outcomes that we want. The number of visitors is usually proportional to how successful you manage your CPR Process. Naturally, the more visitors you have, the more chances you have to make a sale.
There have been many situations whereby campaigns have worked brilliantly and received many visitors and yet didn’t get many conversions. This is because there are many other variables that can affect conversion. The conversion rates for most products is usually 1 – 3%, which means for every 100 visitors to your website, 3 of them took action. 3 – 4% is considered as a good conversion rate.
If you have an extremely low conversion rates of around 1% or lower, there are a few reasons for that:
Firstly, whatever you have posted in your campaign does not align to the information on the landing page of your website. Because of that, your visitors are likely to feel misled when entering your website after being directed from your marketing campaign.
Second, low conversion rates may be due to the lack of trust your visitors may have for your business. Trust is directly proportional to conversion rates. Visitors will not take action if they do not have the trust, even if the products and services advertised are what they are looking for.
Third, visitors may experience some problems using your website. If visitors of your website have to go through multiple pages in order to purchase your product, most people will find this too troublesome and drop out of the process of purchasing. You should improve the overall ease of use of your website by making the check-out process as convenient as possible for your visitors.
Fourth, the visitors may feel that the prices stated on your websites are not competitive enough. Most of the time, prices are not stated on campaigns and even if your target audience managed to click into your website from your advertisements, they may feel that your prices are too high despite being interested in your products and services.
Most of the time, you may have different products and services you are offering and hence, the worth of each conversion may be different. If one conversion is worth $30 while another conversion is worth $60, it makes a very big difference in your campaign. There are strategies you can input to increase the order value so that you can improve the outcome of your campaign.
What can you do? You can package your items with suggestions so that people will make extra purchases when adding products into their carts. You can also offer free delivery for spending above a certain amount.
Once you optimize your order value, the results of your campaign will definitely improve.
Return customers are the key to a lot of successful campaigns. Many businesses rely on return customers as they are free traffic and free conversions for your business. Return customers or long-term customers provide passive sales for your business which, mentioned in the previous chapter, is extremely valuable.
In order to get customers to want to come back, there are many things you can do such as offering promotions or launching new products. You can also use email, WhatsApp or SMS marketing to get return customers and this can be extremely useful for promotions or deals.
Optimizing Every Step
If you manage to increase each step of the VCOR Process by 10 or 20% each, you can significantly increase your overall sales. The VCOR Process is meant to improve the results of your digital marketing campaign without having the need to spend much more on advertising. Constantly improve each step of the VCOR Process and you will be able to see increases in your revenue before long!