Improving Your Conversion Rate
Unless you are making sales and converting your visitors to paying customers, you don't have a profitable business. With an Internet business, the trick is to convert your traffic into sales -- so how do you go about it?
Too many marketers are still using pushy sales copy, but this has become a turnoff for consumers who are bombarded on a daily basis with urgent sales messages and torrents of long winded sales copy and ‘calls to action’. Today's marketers need to tone down the self-promotion to attract customers.
Good marketing today relies on honesty, generosity and genuine communication. When you consider that about 20 percent of your customers account for 80 percent of your business, you will see that rather than constantly chasing new business, it is far more effective to look after the loyal customers who already have. So how can you improve your promotional tactics and increase your conversion rate in today's competitive marketplace?
Play a longer game
Don't be desperate to make a sale every time you communicate with your subscribers -- be prepared to offer information or something of value rather than pitch for sales with every e-mail. It's all about customer relations these days, so get into social media marketing and communicate with your customers on a regular basis. A newsletter is another way to offer something of value without constant pitching.
Develop your marketing funnel
You can still lead up to a sale, even when you are offering something for free by developing a marketing funnel. This is basically a stepping up process -- you engage with your prospects initially by offering something free or heavily discounted, then gradually step them up through a series of products or services of a higher value. You might offer a free book, for example, in which you link to a low-priced book or course -- if they like your freebie, they might well be prepared to pay for something more. Once you have them hooked with a low-priced product, you can gradually offer more expensive products. Good marketers with quality products are able to sell backend products worth thousands with this technique. Try to plan your marketing funnel carefully.
In order to engage with your customers and built a trusting relationship, you have to develop rapport. The best way to do this is to be yourself! Things can be very impersonal online and you have to work hard to show that you are a real person and that you are genuine and sincere. There are a variety of ways to engage in personal communication with your prospects, including forums, blogs, e-mails and social media such as Facebook and Twitter. The effort is worth it to cultivate trust and genuine rapport with the prospect of sales down the line.
Social proof is simply a new way of saying word-of-mouth recommendations, and getting your customers to endorse your business is still, by far, the best way to promote it. You need to provide testimonials and recommendations on your website, blog and social networking sites, as this will do a great job of marketing your business. Many people these days will not buy unless there is some evidence that other people have approved of your products and services, so it is an important part of your marketing. People are generally quite happy to be asked for their opinion, so don't be afraid to ask your satisfied customers for a short couple of paragraphs to help you promote your business.