Eric Haaranen Offers Solution for Boosting Online Sales Leads

Eric Haaranen, well-recognized Author and Internet Marketing Consultant likes to begin many of his talks, articles and books by discussing what he calls “The Online Success Formula”. Basically, it is Traffic X Website Conversions X Life Time Value = Revenue.

Traffic is the number of visitors a website receives. Website conversions is the percentage of those visitors that take a specific action on the site. This could be becoming a sales lead or making a purchase. Life Time Value is the amount of profit the average customer is worth to the business from the beginning to the end of the business relationship.

“All components of the formula are critical,” explains Haaranen “and by increasing any of those components on the left we can boost revenue. However, many entrepreneurs get hung up on increasing traffic when in reality, conversions can have the greatest impact on profitability.”

Haaranen goes on to mention that a certain amount of traffic is obviously critical to a website’s success as no website can survive on zero traffic but for the purposes of this article, Haaranen chose to focus on a specific tactic for increasing a website’s conversion rate.

“The sad fact is that the stats of even the best websites will show that most visitors will leave a site without taking a positive action,” mentions Haaranen. “As most website owners are looking for sales leads, we’ll use that as an example.”

Haaranen continues, “When a visitor arrives on a local business website he or she will either become a sales lead by completing a form or phoning a number or he or she will not. In about 90% of the cases, he or she will not become a lead and statistically speaking, will likely never visit that site again.”

From the website owner’s perspective this is lost revenue and lost potential revenue.

“What we’re suggesting is that website owners utilize chat technology to recoup some of those lost visitors,” adds Haaranen. “Just before a visitor is about to leave a site, we an animated chat agent pops up and offers the visitor a great deal before he or she leaves the site and we’re finding that when done in a proper way, a good percentage of those ‘lost’ customers are actually coming back.”

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