We kept getting the same questions again and again from customers…
“Why is my contest converting so poorly?”
But after deeper investigation, many of the campaigns were actually doing extremely well. But they “appeared” to be doing poorly because of some referral channels converting low in general (I’m looking at you Twitter).
Those channels are still responsible for hundreds of thousands of leads for our customers, but the data was misleading.
What made it even worse was that people were comparing this average conversion rate to what we all see on email and advertising conversion to a regular old squeeze page.
So we addressed the issue head on as we’re known to do…
Leveling The Playing Field
What made me personally sad as a founder was seeing customers feel like they weren’t doing well when they were in fact getting the best results of their life.
In many cases, customers were getting 50%+ conversion on direct traffic, and then getting hundreds and/or thousands of leads from referral on top of that.
But, with our previous calculation we might show that they were getting a 32% conversion overall.
What customers see: “I’m getting 32% conversion on my marketing efforts.. I get 40-50% on a regular old squeeze page.”
What’s really happening: With 20, 40, 60% of leads coming from conversion.. some customers were getting MORE leads than CLICKS they were sending to their contest.
This would be like getting over a 100% conversion on a regular squeeze page. Which is completely, mathematically, impossible – yet those results were common with ContestDomination.
Compounded Conversion Rate
Our fix was relatively simple once we really walked through the problem customers were having. The best ones always seem to work out that way.
What most people REALLY wanted to know was “How do my efforts on a contest compare to a regular squeeze page?”. Luckily 20-60% better in a ton of randomly sampled contests we pulled when seeing how it would play out.
So we just took ALL leads and divided it by DIRECT traffic to equal “Compounded Conversion Rate”.
This is a much more usable number when trying to compare the two different kinds of campaigns mentioned above.
We’re going to monitor customer feedback closely, but we expect customers to feel the real success they are actually achieving more frequently.
This has always been our goal all along.