Improved Landing Pages But Higher Bounce Rate??
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Not going to lie - I actually find the older page more eye catching. Reasons being....
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content is front and center
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there is an actual form to fill out to the right (No Additional Clicks Needed)
3)testimonials should not be a primary piece of content. I consider them supporting section of pages. on the new design you are featuring the testimonials.
What I think is happening is people are visiting your website and not realizing there is content below the fold. As soon as they see that - they are hitting back and going to a different website. Just my thoughts...
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Lets get this straight, someone types 'car insurance quote', lands on your squeeze page - they either generate a quote by clicking one of the buttons or don't like it and disappear.
When you say the bounce rate is a lot higher, by how much? if you don't want to give out that data lets say before it was 40% what would it be now? 90%...
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I can see how you have made the testimonials more prominent which is good because they can reinforce trust (trust elements) but they are in the wrong place and you have stripped out the directional cue on the new page (the arrow pointing to the CTA).
You need to tell the user your USP in the headline (very important area) so rather then saying: 'Car Insurance Quote' say 'Cheap Car Insurance Quotes Fast'.
And that legal sentence isn't holding any benefit, I prefer the old para.
This link might uncover some ideas.