Focus on Revenue Optimization Not Conversion Rate with Matthew Stafford

In this episode, host Matt Edmundson in a high-energy conversation with Matt Stafford, Managing Partner and optimization mastermind behind Build Grow Scale, dive into proven strategies to dramatically improve your eCommerce website’s revenue growth. With nearly a billion dollars in analyzed data behind him, Stafford shares practical, actionable insights on how to optimize every stage of your customer journey from the checkout page to the homepage. Packed with real-world examples and easy-to-apply tips, this episode will give you the blueprint to unlock significant growth without simply throwing more money at ads.

Key Takeaways:

Start Optimizing from the Back (Checkout First):

Begin optimizing your site at the checkout page, because every improvement here directly increases revenue from all site traffic.
Simple checkout tweaks (e.g., providing clear reasons for requesting email and phone numbers) can drastically reduce errors and boost conversions.

Revenue Optimization Over Conversion Rate Optimization:

Revenue optimization focuses on net revenue and profitability, rather than just boosting conversion rates (which could involve discounts that don’t actually increase profitability).
Aim for incremental improvements across the entire customer journey to achieve sustainable growth in revenue.

Clarity Always Trumps Persuasion:

Clarity and simplicity outperform overly clever or fancy language every time. Customers need clear, straightforward guidance through the buying process.
Ensure your website follows standard conventions to reduce cognitive load for shoppers.

The Hierarchy of Focus:

Clearly signal the next step you want customers to take. For example, use distinct colors for primary call-to-action buttons like “Add to Cart.”
Button text should clearly indicate the next step (e.g., “Add to Cart,” then “Proceed to Checkout,” etc.) rather than ambiguous terms like “Buy Now.”

Power of Search and Filters:

Implementing effective search bars and filters significantly boosts conversion rates. Shoppers who engage with these features typically convert at double the normal rate.
Pay close attention to what customers type into your search bar, this can reveal demand for new products or identify existing gaps in your product offering.

Game-Changing Customer Feedback Tip:

Add a simple question to your order confirmation page: “What was the one thing that almost made you not buy?”
This straightforward approach provides powerful insights directly from your customers, highlighting areas of friction and allowing you to fix hidden barriers quickly.

Optimize for Mobile First:

Recognize the significant shift to mobile shopping (80-90% of traffic), and optimize mobile experiences separately from desktop.
Expect mobile conversion rates to be about half of desktop. If they aren’t, there’s likely a significant issue on your mobile site.

Notable Quotes:
Revenue optimization is different from conversion optimization. We’re focused on net revenue, not just vanity metrics.
Clarity trumps persuasion every single time. Don’t be fancy, be clear.
Your customer’s words are your greatest asset. Listen closely, because they’re literally telling you how to improve your site.