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Web Site Lead Conversion Stats

I'm an investor in a cloud-based dental practice management software company. Company has been around for about 3 years and has a very good, competitively priced ($79/mo/user) product. I'm curious to know whether their lead conversion stats are good or poor. The company spends almost nothing on marketing but still garners about 871 unique, organic visits to its web site (5226 for last 6 months). The target audience is obviously dentists and dental professionals. That traffic generates about 19 inbound leads per month (115 in past 6 months) or roughly 2.2% of top line traffic. About 50-60% of the inbounds are demo requests; the rest are product inquiries (which sometimes lead to a demo). The demo is a key component for a successful sale. Demo no-shows are a problem. Despite automated reminders and pre-demo calls to qualify, about 40% are unreachable and/or shows. Looking at the sales in the last 6 months, there have been 8 directly attributable to the web site. The funnel looks like this for the past 6 months:

- 5226 unique visits
- 115 in-bounds of which about 69 are demo requests
- Approximately 40 demos were actually given
- 8 clients signed


The company has other lead gen channels. The above isolates only the organic search portion to its site. Are these conversion rates any good? I find that the traffic to inbound lead ratio to be low at 2.2% given the specialized nature of the product. On demos given, they are closing about 20%-25% of them. I find this low.


Any suggestions on how to improve conversion rates in a situation like this?


The company is using a marketing automation system (InfusionSoft) to manage and automate the lead gen process and for ongoing nurturing.

23 Replies

Roger Smith
2
0
Roger Smith Entrepreneur
Chief Technology Officer at RealtyClub Investment Advisors
One thing we have done which has been helpful in freeing up our sales team from demos is upon sign up for interest, we send an automated email that includes 1 or 2 pre-recorded demos that the user can watch at their convenience. If interested they can then reach back out or we follow up within a fews days after which you are now moving onto closing the client instead of educating them.
Richard P. Ashton, CSO
0
0
Richard P. Ashton, CSO Entrepreneur
Sales Process | Operational Optimization
I would need to know more about your company, website and sales process to comment effectively. If you would be willing to share I'd be willing to take a look. I'll leave that up to you. Hope all is well otherwise.
Steve Owens
0
0
Steve Owens Entrepreneur • Advisor
Finish Line - A Better Way for Small Companies to Develop Products
The web hits and converts are very similar to other companies I am familiar with. The no-shows is very high - I would say ours is less than 5%. The close ratio is a little low.

Based on what you have shared, I would say your weakest link is hits. Any reason you can not get 8,000 hits a month? A small amount of money spent may have a big effect on traffic.
Evan Weber
0
0
Evan Weber Entrepreneur
Affiliate Summit West's Most Popular Speaker Last 2 Years - 954-662-8010
You would have to look at the nature of the organic traffic in their Google Analytics. But in general those lower-end conversion numbers speak to not enough calls-to-action and/or a design not conducive to converting traffic into leads/demos. I have been working in this area for over 10 years. Companies hire me to address this specific issue. Let me know if you need some consulting to boost these rations. Thank you, Evan Weber
Eliav Cohen
0
0
Eliav Cohen Entrepreneur
Investor and Founder
Hi Richard, There are a few different parts of your question to answer. 1. Since the sales people are calling dentists, they often get behind with patients. That 40 percent is fairly normal assuming these are also newer sales people on the phone. In person is much easier as you can't hang up
Stephen Huson
0
0
Stephen Huson Entrepreneur
Leader in Internet lead generation, SEM / PPC / SEO and analytics
Richard, I don't find these numbers surprising or out of the norm. Every business and source of traffic is different, so it is hard to be precise in such an opinion, but they seem fairly normal to me.

First, it's great that you have the data, which is the basis for improving things. Unfortunately, the volume you've got is not all that amenable to A/B testing since you'll have a hard time getting statistical confidence in any results, but it might be something to try to gain some learning anyway.

I would also compare the figures to other channels. For instance, I would expect paid search traffic to deliver a higher visitor to lead conversion rate, although quality (sales) may depend heavily on the keyword and how aggressive you are in the lead acquisition / offer.

Happy to talk more off-line if you like.
Kristin Tynski
1
0
Kristin Tynski Entrepreneur
SVP Product Development at Sapio
Of course optimization should be a priority here, but perhaps you should also look into your organic referral traffic. Perhaps the keywords driving the bulk of the traffic are not well suited for conversions. Maybe you rank for more "top of the funnel" keywords, and are getting a lot of people who are simply exploring their options.

I would recommend diving into your rankings, and discovering where your opportunities are for improving ranking on keywords that are more likely to be further along in the decision making process. There may be low hanging fruit out there to quickly and substantially improve your flow of leads most likely to convert.

If you can let me know the name of the company, I could give you a more specific idea of where the opportunities may lie.

Either way, if you know organic traffic is a key driver for your business, you should be focusing your efforts on improving that baseline. Onsite SEO should of course be done, but more than that, you need to be focusing on building authority through content-driven linkbuilding.

By creating interesting, useful, or otherwise noteworthy content, and paring that with high-level digital PR/outreach, you could significantly improve your site's authority signals, and drive much larger amounts of organic traffic. The content you create could also be used to address some of your conversion needs. I'd be more than happy to give you a more specific readout if you were interested.


Robert Hoskins (3,460+)
0
0
Need a crowdfunding PR firm to plan a successful equity crowdfunding or Kickstarter, IndieGoGo campaign? 512-627-6622
Please send me the URL so I can see how they have their website setup.

1. Is their website setup like a salesperson that answers the most common questions possible via a FAQ sheet?
2. How many customer written or video testimonials does the site have posted?
3. Removing fear, uncertainty and doubt from the sales equation will improve you stats and requests for demos.
4. Are you taking advantage of blog posts and content marketing?
Richard Pridham
0
0
Richard Pridham Entrepreneur • Advisor
Investor, President & CEO at Retina Labs

Thanks for your input. The URL is www.dovetail.co. This site is a bit dated. In the last few weeks I have completely restructured the site, messaging and creative. It should be on-line in by mid-May. The plan here is to drive better quality traffic and have more CTAs in place for lead conversion. There are not enough testimonials on the existing site. There will be more on the new site. I also believe heavily in content marketing and nurturing. The marketing automation infrastructure is in place but not optimized. I like the idea of a short self-serve video demo as a first step in the request demo process; however, the founder seems to prefer the "human contact" element. The demos are given by a dental hygienist who can really show the product well.


The dental market is finite. There are about 200K dentists in North America, 2.1M globally. From a competitive standpoint, there are a handful of companies who own a large share of the market. However, they are all selling server-based, desktop PC based products that can cost upwards of $25K...none are cloud and mobile. My finger in the wind estimate is that at any given time, at least 30% are looking or open to switch. Decent addressable market.


I cannot speak to the quality of the current traffic. The data is there...it just needs to be analyzed. I'm considering taking over the CEO role so analyzing the situation so I know what works needs to be done.


BTW: The inbound process at the moment is all Internet form based (Request Demo, Contact us forms). When a lead comes in, a girl calls to profile and qualify the prospect prior to demo.

Stephen Huson
0
0
Stephen Huson Entrepreneur
Leader in Internet lead generation, SEM / PPC / SEO and analytics
I definitely would recommend adding an inbound call phone number, even if it goes to a voicemail (which is quickly followed-up on). I expect this would provide a bit of lift to the overall conversion rate. Some people just prefer the phone to providing information on a lead form.
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