In this episode, we’ll be discussing about the various ways that bounce rates affects your business.
We’ll look into how you can use this metric to “connect” with your target market, consequently leading to greater profitability, enhanced marketability and many other benefits.
In short: this episode will give you a glimpse into how bounce rates work, and how you can use it to your advantage—and more.
Special Mention and Links in this Episode
The items mentioned in this podcast, include but are not limited to the following:
- The definition of bounce rate and how it affects your business campaigns.
- How bounce rates signify that you’re doing something wrong (or right) with your business.
- The hidden message behind high bounce rates.
- How to make the necessary adjustments in order to keep your bounce rate at optimum levels.
- The probable reasons why your online visitors are pressing the “back” button instead of taking the time to surf your website—the way you want them to.
- The main reasons why a high bounce rate is both a financial and marketing problem, as well as the applicable solutions to resolve such issues. Hint: Your site’s bounce rate can have a huge effect on your marketability, as well your ROI or profitability.
- How to understand online users and their behaviour, in order to significantly reduce bounce rates and to increase efficiency.
- How to utilize Google Analytics into deciphering bounce rates—and how to turn the “bounce” into actual benefits for your business.
- Learn how to make your website reach the expectations of visitors, in order to encourage them to stay instead of “bouncing” away from your site.
- Tips on how to be an effective “communicator” through your website, and consequently convince your audience that you have what they are looking for.
The Examination Room
In the examination room, we’ll be discussing the quote: “you will miss every shot you never take”—and how we can use this not only to make our businesses more successful, but in our everyday lives as well.
In summary in this particular episode you will also learn that:
We—as entrepreneurs—have the obligation to keep our clients and our market happy. After all, “it’s all about them.”
Accordingly, we should find ways to understand their needs and wants, in order to ensure that we’re able to fully deliver our respective messages to them. This will not only lead to a stronger “connection” between you and your market—but it can also lead to a more enhanced and viable business image as well.
By learning how to efficiently use Google Analytics—a very powerful business tool—we’ll be able to make the necessary adjustments that will help us reap the benefits that we want, when we want it.
Incidentally, this podcast episode will likewise give you a glimpse on how to:
- Determine the “problem pages” that need to be adjusted.
- Understand online users and make them more interested in what you have to offer.
- Be a more interesting website that actually provides visitors with the things that they need and are interested in.
Indeed, there are more than many reasons why you should listen to this podcast. But in the end, the choice is all yours.
Remember: the key to success lies in your hands and in how you prepare—through the proper measurement.
Subscribe to iTunes
Do you have something to say about the importance of bounce rate and how to use it for effective business campaigns? Share your views with me—and let’s discuss.
Announcer: Welcome to the measurement Doctor Podcast and now your host George Gill.
George Gill: Hey George Gill here, founder of the Measurement Doctor and creator of the two-times business multiplier. Thanks for joining me today.
Today’s topic I want to discuss is the metric Bounce Rate. Now, the term Bounce Rate has a specific meaning and we are going to get into that and why it is important that you should be measuring it. We are also going to talk a little bit on how you can improve your Bounce Rate so that you have less traffic leaving you.
What is Bounce Rate? What does it really mean? First of all, it’s really geared towards online businesses. If you have a website and you are marketing to drive traffic to that website, whether that be through social media, maybe paid advertising and even traditional marketing. They are landing on a certain page on your website and that page might be the home page and it might be a sub-page if you are sending them to a squeeze page. You might be naturally or organically attracting traffic through maybe a blog if you are writing on a consistent regular basis to your blog. You are going to be attracting some organic traffic to that page.
When that traffic lands a certain percentage of that traffic, it takes no action other than hitting that dreaded back button — they are out of there. They don’t spend any time on the page, they don’t read the page, they don’t fill out a form, and they don’t go on to navigate through the site, scroll down the page or any of that. They just hit the “back” button and they are out of there. And that’s referred to as a bounce.
Now, if you have every one person, out of every 2 people that come and one person bounces, in other word, immediately leaves that site, then, you have a 50% bounce rate which means half of every single person that lands will leave. If they make that a little larger, 10 people come and 5 people take no action and leave.
You start to understand why bounce rate is such an incredibly powerful metric and essentially extremely important to your business.
Let’s discuss the real problem here. The real problem as I see it is not the fact that you are only dealing with half amount of people if your bounce rate is 50%, half the amount of people that are attracted to your site. I think the real problem is that there is a “disconnect”. A disconnect beyond with the expectation of the audience had when they landed on your site. This “disconnect” is not only causes a problem for your marketing, it causes problem for you financially.
Let me explain that and what that means. We are going to get into return on investment here –ROI. But, really what we are talking about here is the declining profit and how does it work? Let’s use that 50% bounce rate as an example, if you have a 50% bounce rate and you’re selling a product, and use the value of a product and this could just easily be a subscriber, building tribe, adding people to your blog.
Whatever goal you have for your business, for your online strategy, it can be any of those but we’ll use an e-commerce site to add dollar value to this, therefore, every sale you make is worth fifty dollars ($50). Your spending whatever the amount is. Let’s say Ten Dollars ($10) to drive 10 people to your website.
Here’s the reality, if you are selling something for fifty dollars ($50) and every sale that you convert in your website, then you have a 50% bounce rate your paying double for every sale. Which means if I have two people come and only one of them is a potential buyer, and I paid for two regardless if that one person buys or not.
That’s a Return on Investment. And if I lower that bounce rate, if I lower that to 10% therefore in every 10 will come only one leaves. I’m paying just over one to one ratio for every buyer that I get. The lower my bounce rate is, the lower my cost the higher my profits are. Essentially the higher that bounce rate is, the worst it is for your business.
When I started in business, I started it with a traditional retail store and I learned traditional advertising, newspaper, radio, TV, etc. Every once in a while someone would walk-in the door and take a look around, and immediately turn around and walk-out, and that would horrify me.
In the back of my head, I’m thinking we were in a plaza and they just walk in the wrong door. What if they didn’t, what if they walk in and something turn them off, maybe with the display maybe with the odor in the store whatever the case maybe. It really kinda hurt me for a second, or if somebody comes in walk around and immediately leaves not stopping at anything and just do a quick circle and leave, that hurts me personally.
So, the problem I think with online is you don’t have that personal connection, you don’t see something landing at your site and immediately leaving. But when you start to feel it like that, you start to feel like you’re responsible for that relationship, connection between that how they decided to come to your site in the first place and what they decide to do when they got there and if they left and you take that a little personally, you’re going to very aggressively start to improve your bounce rate.
So again, there’s the financial side where you could be paying more two or more four times if you have a 99.9% bounce rate and I’ve seen it before. You could be paying as high as that more than you need to for a subscriber or whatever your goal conversions are and there is also the personal side that there is this “disconnect” and this is your potential audience and assuming that your marketing in areas that your targeting your ideal clients, your ideal audience, so if there’s this huge disconnect between when they land and taking any or no action then that’s obviously that’s a big concern.
Moving on from there, why do people bounce? Well to understand why people bounce? Why they leave? I’ve been kind of hinting at it saying that’s there’s disconnect but what that does really mean? Well, we have to understand why somebody comes to your website in the first place and what I like to refer to the site is it’s all about them. We don’t go to somebody’s website for them. We go to their website for us, right?
We either want to solve a problem, or we want to learn something or we want to be entertained. It’s usually one of those three or a combination there, or if we can achieve all three in one. Then we’re really good. So it’s all about them. If we know that it’s all about them, you’re marketing to them in traditional marketing to drive them to your website. Told them X, X is whatever you promise. Maybe it’s a great price on tea, maybe if you sell tea, maybe it’s to solve their photography question, and maybe it’s a free tip on SEO or Social Media.
Whatever the case maybe, you promise them X. And they landed on Y, that’s when disconnect happens. It’s all about them. They wanted X, they landed then they got Y which is not what they wanted at all. So let’s put this into real world. I was recently looking for a new set of brake pads for my bike and I went searching on the web that’s what we do — I check my social media channels, I throw a request for anybody who has a recommendation. Then I went to Google. I did a search. Then there was paid add. Paid Add — that’s a PPC. Click on the ad for brake parts for my bike and I landed on their homepage.
Now, it’s all about me. Remember, it was clearly a bike website and I hit the back button and I was out of there. Now, why do I hit the back button? It was about bikes. I needed bike brakes. I landed on the homepage. A word or two I am lazy, as web surfers were lazy. The back button is far easier than me putting in the work and effort to search around and find my solution — that’s your job. If you own that website that was your job and if you’re running those PPC, you should have driven me to the exact product that I was expecting. So, I had a “disconnect” even though it was in the same industry. There was a “disconnect” because it was easier for me to click back and hit the next add, and for me to search around your site and buy your product.
So it’s all about me and I am lazy. Well, I am your ideal client, so ok or maybe, but whoever your ideal client is, I guarantee it’s all about them and their lazy, as web surfers back buttons way easier.
How do we fix this? How do we solve the bounce rate problem? Well first of all we need to be using those tools, like Google Analytics or any measurement tools that is measuring traffic coming to our website. That’s key, that’s step one, or that’s foundation, that’s not even step one. Assuming we’re using a measurement tool, then what we want to do we want to identify highest bounce rate pages, so what pages are getting the most amount of traffic that’s bouncing at the highest rate. We want to deal with the worst performing pages that are getting the most volume to make a large significant difference as quick as we can.
Once we identify the page then we need to identify and segment the source so in other words what source is sending this traffic to this page? Is it a PPC ad? Is it my Facebook page? Is it my twitter profile like sending out links? Is it maybe a traditional advertising campaign and just putting my website on my ads? or maybe more key on putting the specific URL’s to make it easier for me and if I am going to have the trouble of typing your website, right? You can even use short URL’s to make that even easier.
But in the essence we want to identify the source sending to those pages and then step three is review and ensure the source, whatever is being communicated or marketed is in line with where you’re sending them, and if there is an issue there, start there to solve the problem. Get those two things inline. Remember take this personally. Somebody landed In your site that you paid, work or sweated for to try to drive them to you I am going to be assuming that they are your ideal audience because you’re targeting them, and they left immediately. Take this personally and if that doesn’t affect you and put your heart into it. Then realize it your killing profit. Then your ROI is hurting from this.
Finally, if money isn’t important to you and you can’t take it personally, shot for a happier engaged user experience. And if you reduced that bounce rate, I guarantee you — you are on your way to achieving that.
So, leave some comments so tell me what your bounce rate is and steps that you’re taking to fix this. If you have any questions by all means leave them there as well.
It’s time for the Examination Room:
Today’s quote of the day:
“You will miss every shot you never take”
I don’t know who said it but it is said by so many people, I’ll reference Michael Jordan if somebody has different reference to that quote, I love to hear it. Maybe somebody who originally quoted for that, leave that at our blog and our comments. I love to know who originally said “You will miss every shot you never take”
So what are my thoughts about this statement, well, I believe that entirely, I totally believe you have to take actions, you have to take shots to achieve things. If all you do is wish, all you think is you can’t, and never just step out on the ledge and take the shot to achieve your goals to achieve what you want to achieve then you’ll never going to get anywhere.
But I just want to expand on it as much as I believe you will miss every shot you never take. I also believe you’ll miss every shot you take if you don’t measure the results. Why do I have that? Because chances are you’re going to mess it up. We are going to fail our first time, five times, ten times, hundred times and that’s just life, right? The things that are not especially if they are worthwhile they’re not meant to be easy. That’s what not life is all about. It’s overcoming challenges, building character and achieving greatness — our own personal greatness. As much as great to step on the ledge and that’s the first step you know. I step out, I took the shot measure what works and what didn’t — where you can refine to approach it step out again
I like the story of Col. Sanders, how many times he had to pitch his franchise, how many NO’s he had to get until that first “yes”. Look at the size of that franchise today, and this was not a young man. If you know the story about him, this was not a young man at all. It was a pretty huge achievement and a pretty huge accomplishment. But measuring and refining as he went along trying to improve his approach, approve his whole process led to the success of course we have to take the shot. But measure the results and fine tune.
Listen, head over to the ww.measurementdoctor.com website and submit your quote to me to be analyzed on the very next podcast. We love to hear the quote and to be challenged by my thoughts on it, alright? Until next time, don’t do a thing in life or online unless you’re measuring it.