Home
>
Web Development
>
How to Maximize the Value of Every Visitor to Your Website

How to Maximize the Value of Every Visitor to Your Website

While most marketers are beginning to understand the critical importance of maximizing conversion rates, few are tracking or working to maximize another critical measurement of website effectiveness.

Visitor value?

Visitor value is simply a representation of how much money you make per visitor to your website.

You can calculate visitor value by multiplying your number of sales over a given time by your average price per sale and then dividing by the number of unique visitors you received over the same time period.

(# of sales x price) / (# of unique visitors) = visitor value

For example, if your website made 1,000 sales last month at an average order size of $100 and received 50,000 unique visitors, your visitor value is $2.

(1,000 sales x $100) / (50,000) = $2.00

When split testing modifications to your website, it is important to understand the effect these changes have on visitor value, not just conversion rates.

This is particularly important when testing different price points or working to improve your average order size.

By focusing only on conversion rates when testing different prices, you run the risk of selecting a price point that may convert best, yet produce a lower overall visitor value and profit.

For example, in a recent split testing campaign I conducted for one of my coaching clients we tested three different price points, $17, $27 and $47.

The $17 price generated a conversion rate of 3.4%, the $27 price actually converted the highest with 3.65% and the $47 price point converted at only 3.18%.

Without looking at the visitor value, many marketers would select the $27 price point. However, after calculating the visitor values for each price point, we discovered that the $27 price produced a visitor value of $0.98. But the $47 price produced a visitor value of $1.49.

Even though the $47 price had the lowest conversion rate, because of the higher visitor value it was over 50% more profitable than the highest converting price point.

Once I explain the power and importance of improving visitor value to my clients I am often asked?

"How can I improve my visitor value?"

There are only three basic ways to increase your visitor value.

First, you can improve your sales conversion rates. As long as your boost in conversion rates doesn't come at the expense of price or average order size, improving conversion will also improve your visitor value.

Second, as I have already demonstrated, by testing different price points for your products, you can often find the "sweet spot" where your visitor value is maximized.

The third way to maximize visitor value is by working to increase your average order size. Using tactics such as up-selling, cross-selling and bundling you can quickly boost the average amount your visitors spend per sale.

While my clients and readers all know how passionate I am about maximizing conversion rates, when it comes to changes or split tests on your website that involve pricing or average order size, visitor value is the metric that you want to maximize.

By consistently measuring the impact your conversion rate optimization efforts have on visitor value, you can ensure that your site is living up to its most profitable potential.

Want to improve your conversion rates? Get a FREE website evaluation from one of the worlds top eCommerce and traffic conversion experts. Visit http://www.web-site-evaluations.com/free today for your free, no-obligation website evaluation today!

Eric Graham is the CEO of several successful online companies. Internationally recognized as a top authority on eCommerce, Website Conversion & Internet Marketing, he's an in-demand speaker & consultant.

Get expert tips, advice, news and commentary on improving conversion rates, split testing, web usability, copywriting, internet marketing and more. Just visit Eric's popular Blog: http://www.web-site-evaluations.com/free

executive chauffeured services Bradford .. Madison to Airport car

In The News:

Getting virus alerts on your iPhone? Tech expert Kurt “CyberGuy" Knutsson helps you learn how to handle fake scam alerts and boost security.

Tech expert Kurt “CyberGuy" Knutsson says opening emails is safe, but risks arise from interacting with links, attachments or HTML content.

Tech expert Kurt “CyberGuy" Knutsson reveals four signs of compromised Social Security numbers and offers five steps to protect yourself.

Tech expert Kurt “CyberGuy" Knutsson discusses how MAB Robotics' Honey Badger 4.0, a versatile robot, now walks underwater with amphibious skills.

An updated Android trojan called FakeCall hijacks bank calls. Tech expert Kurt “CyberGuy" Knutsson says Android phone manufacturers and Google need to step up their game on security.

The Massimo Modular E9 is a sleek, smart and comfy tiny home in 409 square feet. Tech expert Kurt “CyberGuy" Knutsson takes a closer look at what the future of housing might look like.

Every stock trader should consider a virtual private network to safeguard their trading, according to tech guru Kurt "CyberGuy" Knutsson.

Apple recently announced its new lineup of Macs and rolled out Apple Intelligence, its latest artificial intelligence-powered feature for its products.

A Swiss-engineered robot can climb ladders, showing why it's at the cutting edge of autonomous robotic solutions for harsh industrial settings.

Kurt "CyberGuy" Knutsson presents the cities targeted most by robocalls, why this is happening and what you can do about it to protect your privacy.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents

Kurt "CyberGuy" Knutsson shares tips and suggestions for how to get the best use out of the updated Calendar app available with the latest iOS update.

Your Social Security number, your unique identifier used for many purposes, has likely been leaked on the Dark Web; here are some steps you can take to protect yourself.

Researchers have developed a new technology that creates strong, sticky fibers capable of lifting objects and capturing things from a distance.

Smart rings track the same things that smartwatches do, including steps, sleep and a general overview of your overall health, and they tend have more battery life than smartwatches.

Researchers have developed a robotic finger that can perform routine medical exams like those conducted by doctors, helping to address the growing shortage of trained professionals.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Insurance administrative services company Landmark Admin reported that a data breach from a May cyberattack affected over 800,000 people.

Sotheby's will auction the first artwork created by Ai-Da, the world's first robot artist created in 2019 by British gallerist Aidan Meller.

More than 250 million users of the Verizon Messages app will have to switch to another app. Verizon is shutting down Messages in the next month.

Tech expert Kurt “CyberGuy" Knutsson provides a list of 10 celebrities who are the most targeted by deepfake scams, including Tom Hanks.

Tech expert Kurt “CyberGuy" Knutsson discusses how Vast's Haven-1, launching in 2025, transforms space living with human-centric design.

UnitedHealth confirms over 100 million Change Healthcare users had their data stolen. Kurt “CyberGuy" Knutsson reveals what happened and what caused the breach.

Tech expert Kurt “CyberGuy" Knutsson explains how iOS 18 brings new text formatting and animated effects to the Messages app.

Whether you're a social media veteran or novice, Facebook friend request scams are common. Kurt the CyberGuy provides tips to keep your account safe.

How to Maximize the Value of Every Visitor to Your Website

Web Development