17 Sep 9 Ways to Increase Conversion Rate and Online Enrollments
By David Mirza
As a Retail Energy Provider (REP), your website is open 24/7 to generate leads and process enrollments and renewals. However, I am truly surprised at the lack of focus and priority given to analyzing data and implementing enhancements that can increase conversion rate and, therefore, online enrollments.
What is Online Conversion?
Your website conversion rate is the ratio of visitors to your website or landing page that then go on to take your desired action (i.e., enroll, renew).
I am sure all of you have heard of Google Analytics and/or Google Tag Manager. It is important that you understand how these tools work. You get user data at the most minute level such as: browser used, type of device, time on site, location, bounce rate, conversion rate, etc. These tools are free to use and play a key role in providing you with direction on required changes for improvement.
Here are my 9 tips to help you increase conversion rates and online enrollments:
1. Call to Action: Have a strong and prominent call to action throughout the website. If a prospect is browsing through your website, they should be able to enroll from your blog, or even the FAQ page. Is your phone number prominently displayed across your website and multiple online directories?
2. Responsive Website: Ensure that your website and enrollment flow is responsive so that it adapts to different browsers and devices. Having a responsive website reduces the need for creating a mobile app, which is another cost separate from your website.
3. Remove Unwanted Form Fields: I am at your site and ready to sign up. Don’t ask unnecessary questions like how did you hear about us, or how long have I been living at my current home. Sign me up fast with the fewest clicks.
4. Google Business Page: I cannot emphasize enough the importance of maintaining your Google Business page with the latest offers, pictures and responding to reviews. This is great for SEO, as well as an amazing PR tool. Try to maintain a 4-star or higher rating.
Here is an example of a well-maintained Google Business Page:
5. Search Engine Optimization (SEO): Don’t be fooled when you get email offers claiming that they will put you on the first page of Google for $300 a month. Good SEO requires significant investment of time and money. If you want to head down this path, talk to multiple agencies and get a clear understanding of SEO.
6. Search Engine Marketing (SEM): This is nothing but paid search. In Texas, about 60-80% of enrollments are placed online. In markets outside Texas, less than 7% of enrollments are placed online (pre-COVID). In many instances, when a customer is searching for keywords like Power to Choose, PA Power Switch, etc., they actually want to compare multiple offers from multiple REPs, so don’t waste your marketing budget on expensive keywords. SEM can be very expensive if you do not know what you are doing and your cost to acquire (CTA) can easily go well over $100 per customer. Just like SEO, seek professional advice if you wish to pursue this.
7. A/B Testing: Conduct regular A/B testing by changing headlines, offers, and images on landing pages and/or product pages. One wrong headline and the customer vanishes for good.
8. Live Chat: Add live chat to your website. Customers who are on the fence get immediate help with their questions. Live chat is extremely easy to implement and will boost your conversion rate.
9. Immediate and Ongoing Communication: Customer should get an email, text, or phone call as soon as their order is processed, their bill is generated, and when their payment has processed.
Implement some of these tips as soon as possible and monitor your progress. Change what isn’t working and keep what does. It doesn’t happen overnight, but with the right tools, your chances for success increase.
David Mirza is President at MedTractions. He helps retail energy providers with IT and M&A .