B2B Website Conversion Optimization, Part 1

[dot_recommends] February 23, 2022 Manufacturing Marketing Tactics

Act Fast! Today’s B2B Buyers Don’t Waste Time Deciding on a Supplier

visual shows that B2B website conversion optimization matters as much as SEO in getting qualified leads. Effective one-to-one outreach ranked highest with 41% of B2B marketers in the US choosing it as the most successful factor in qualified lead generation. Next was "speaking to buyer challenges" with 38%. Next was strong brand and referral sources with 34%. Paid media campaigns were chosen by 33%. Then conversion rate of website and inbound SEO and social efforts tired qith 25% choosing each of those factors. Account based marketing and industry trade shows ranked lowerat 16% and 15% each.

 

In this first of three posts on B2B website conversion optimization, I’ll explain why your website may be your first (and possibly only!) chance to make the sale.

Defining Website Conversions

A website conversion can be defined as any time an anonymous website user provides you with contact information.

NUMBER OF FORM COMPLETIONS ÷ TOTAL WEBSITE VISITORS x 100

Alternatively, a conversion may be defined as a lead that becomes an opportunity. For example, a prospect that moves from completing an online form to holding a sales call or meeting.

OPPORTUNITIES ÷ TOTAL LEADS X 100

Either way, the conversion rate is the percentage of website visitors that become marketing qualified leads—or recognizable sales opportunities.

Catch B2B Shoppers While You Can!

Once you have contact information, you can engage in lead nurturing and/or sales activities. But what if you don’t get the chance to send an email or schedule a meeting before a buyer selects a supplier?

B2B shoppers learn fast and act fast.

  • 60% of shoppers in industrial manufacturing decide whether to buy from your company on their first site visit

The fast pace of today’s B2B buyers has pushed the need for website conversion optimization into the critical zone.

B2B Website Conversion Rate Benchmarks

So what makes a good website conversion rate? Typical rates vary across industries:

  • Average B2B website conversion rate is 2.3%
  • Average industrial manufacturing website conversion rate is 3.3%

But who wants to be average?

  • Top performing B2B sites convert in the range of 5.3% to 11.5%!

There are ways to ensure you’re getting the most out of your website with every visitor.

The bottom line, with buyers spending more time researching independently, B2B website conversion optimization can mean the difference between getting a sale and losing an opportunity.

What’s Next. . .

Next week, part 2 in this series will cover ways to optimize your site to improve conversions. Finally, in part 3, I will cover measuring and tracking your website conversion rate to optimize qualified leads and increase sales.

For now, we’d love to hear your thoughts. Connect with us on LinkedIn or Tweet us. Or get in touch through our website.

—parin
Managing Partner
Image source: Statista

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