a 4-minute read
We’ve changed things up a lot since founding the company back in 2013. We’ve adjusted our offers, A/B tested our practices, perfected processes, and more. But there’s one thing that never changed. We still stand by our conviction that:Companies that continuously invest in optimization win long-term. Click To Tweet
Even though in-depth data analysis and plenty of experience confirmed our conviction every day, we never really knew how to explain it in a way that clicked for most people. At least not until we’ve stumbled upon this supposed quote from Albert Einstein himself:
Compound interest is the eighth world wonder. He who understands it, earns it. He who doesn’t, pays it.Albert Einstein
The Connection Between Conversion Optimization and Compound Interest
Whether or not Einstein ever actually said that “compound interest” is the most powerful force in the universe, it’s definitely still relatable for everyone dealing with finances in any sense. But first, let’s explore what compound interest is:
Compound interest is the result of reinvesting interest, rather than paying it out, so that interest in the next period is then earned on the principal sum, plus previously accumulated interest.
Clear enough. But what does this mean in the terms of conversion optimization?
Conversion optimization is all about three things:
- Continuous learning
- Compounding results
- Long-term business growth
In other words:Conversion optimization is all about reinvesting into optimizing your existing content, process, strategy until compounding starts taking effect. – Sina Fak Click To Tweet
This is exactly why most businesses decide to chase spikes in sales or immediate results. A strategy so focused on short-term gains will result in an overall loss in the end.
The Culture of Continuous Improvement
It’s easy to fall into the trap of those glorious, rapid revenue spikes. But that’s all they are – spikes. In the long run, they won’t foster healthy growth for your business. They’re more of a life-saving belt when you’re chasing KPIs at the end of the quarter.
A much smarter strategy is to uncover opportunities for increasing revenue. They are waiting for you, right there in your analytics. Instead of diving into a never-ending cycle of investing in paid advertising, optimize what you already have, and enjoy the results of compounding interest. Let’s look at some of the most effective optimization strategies that will help you win long-term.
Regularly optimizing and updating your website content should be a top priority. This strategy will:
- Impact in your favor on the Google algorithm,
- Leave your users with positive associations, making them come back for more,
- Make it more likely for users to recommend you to others.
Result: Organic traffic increase, lower bounce rate, conversion increase, continuous growth.
Landing Page Design Optimization
We have created 27 tips that will help you optimize your landing page for lead conversions. There’s a couple of them that deal with optimizing your landing page design. In today’s visuals-oriented culture, consumers are often influenced by:
- Fast-paced websites, with active copy and dynamic designs
- Fear of missing out
- Attention-grabbing details
- A saturated market giving them plenty of choices
Building research-driven landing pages that match all of these requirements, stand out, and convert is definitely a tricky business – but it is also definitely possible. Landing page optimization is about communicating with your customers and connecting with their deepest needs, desires, interests while guiding them to make decisions all on their own. If you nail this balance, you can expect:
- A better user experience
- The ability to provide your users with what they really need
- Users taking the action you want them to more often
- Capturing relevant information from new leads
Result: Higher conversion rates, increase in sales, lower bounce rate, continuous growth.
A/B Test Driven Conversion Funnel Optimization
We’ve definitely mentioned this a couple of times before – but with good reason:
Businesses are gathering more data than ever before, but they’re also struggling to translate this data into actionable insights that drive real business value. Another problem is that most of the businesses don’t challenge their results. If something is working well, then they think that’s enough and stop experimenting.
We believe that, just because something is good, doesn’t mean you should stop there. Make it great!
- Challenge your hypothesis,
- A/B test one variable,
- Then another,
- And at least one more,
- Translate collected data into business intelligence.
There you have it: a perfect solution that brings the best, possible results. Well, at least until you carry out your next test. Remember: there is always room for improvement and experimentation.
Result: Continuous improvement, steady business growth, a higher volume of traffic, lower bounce rate, higher conversions, increase in revenue.
Some Final Thoughts
Most businesses give up on conversion optimization because they don’t see an immediate and significant result. They never spend enough time on reaching a point where compounding starts taking effect. It takes an investment of time and resources for it to finally start paying off.
So, here’s a final question for you: instead of chasing after trends that won’t necessarily work for you, or wasting time on getting those spikes that won’t grow your business, wouldn’t it be better to discover hidden revenue opportunities in what you already have? These uncovered opportunities are the thing that will grow your business exponentially.
Fortunately for you, we have written a guide that will tell you everything you need to know about it.