Guest post by Dhruv Patel.
During the life of your product or service, you’ll realize that simply scaling top-of-funnel inquiries (in volume) won’t generate peak conversions over the long run. At some point, you will start attracting more of the leads that don’t intend to buy from you right away. Though this is normal, it leads to depreciating conversions and longer sales cycles, if not dealt with effectively.
The pandemic of 2020 amplified this phenomenon. Businesses and key decision makers are holding back from making purchase decisions due to lack of demand and concerns about a slow business recover. As per a Yelp report, almost 60% of businesses that stopped operating temporarily are now shutting down permanently.
This leaves the businesses that are opening back up with a smaller top-funnel, without much to invest in terms of marketing and growth to recover in 2021. And that is where conversion rate optimization will play a vital role.