Chapter 14

Conversion

Now we’re going to talk about conversion. Again we’ll start with a precise definition:

Conversion happens when someone buys.

Simple enough, right?

Well … not so fast. 

Before your customer will do business with you he or she  has to know, like and trust you enough to part with their hard earned cash.

Trust is a two way street.
You have to trust your customer too.
That means you have to have a relationship.

A relationship that you both value (more than money).

That means you have to release the pressure.

Start by taking a long hard look at every step in your marketing and sales process, with this question in mind…

Is this how I would like to be treated?”

If the honest answer is NO then it’s time to go back to the drawing board and design a system that does.

For a start…

Treat your whole audience as customers before taking any money from them.

That doesn’t mean you give away the farm but it does mean that you are willing, nay happy, to help them to start moving forward. To help them make progress towards their goals.

Whatever that might be.

Remember we were talking about identity and acknowledgement in the last chapter.

By expressing how they feel, acknowledging the impact that that is having on their daily lives, their business and their relationships (there’s that word again), you make them feel better.

‘It’s not your fault’ is an overused phrase but more often than not, it’s true. Your audience sees what they think is an insurmountable problem stopping them moving forward.

But that’s just a symptom. The real problem is more profound. Just showing them how this is true gives them a new insight. A new perspective. Change the perspective and you change their lives.

When we do this, your audience begins to see how they could be your customers. They become open to the possibility of doing business with you.

Serving your audience like this makes them feel that you have their best interests at heart (because you do). 

The emotional bridge between you begins to take shape. 

It would be a pity to spoil it by rushing to a sale… any sale at any price.

A sale at say $9.95 means you acquire dozens, hundreds, or thousands of customers attracted to a too-good-to-be-true, $9.95 offer.

The net outcome is you acquire a boatload of opportunity seeking buyers with no guarantee that they are prepared to part with more than $9.95 in the future.

Who could have predicted that?

And if your response is, no, I’d add upsells and downsells and so on to segment them into different groups of buyers. 

I refer you to my question above… “Is this how I would like to be treated?”

Sure, I know you have to cover your Ad spend but consider this…

After analyzing his clients’ data, Internet marketing godfather Dean Jackson has concluded that…

Of your whole audience of say 500,000 people, only 30% will ever be in the market looking to buy.

Of these 150,000 only 3% may be ready to buy from you right now.

That’s 4,500 people.

15% of these may make a purchase in the first 90 days after becoming a lead.

That 675.

Of the remaining 85%, some may buy in the eighteen months that follow.

Think about that for a moment — 85% of the opportunity, 85% of the revenue in your audience, is available after the first 90 days.

Spot quiz: Knowing that, what do you think is the single most important thing you can do to transform your business by making the most of this new found opportunity?

The pervasive idea that conversion must happen now and if a lead does not buy now, they should be carpet bombed with remarketing Ads is damaging your business.

It minimises your R.O.A.S (Return on Ad Spend) and burns through that audience in next to no time.

Context matters. 

(We’ll dive into this in the next chapter…)

The good news is that there is a better way.

Instead of pushing, cajoling, bribing, and strong-arming your audience to pull out their credit cards as quickly as possible, take a deep breath, relax, and treat them like they’re already customers.

Take the pressure off.

Let them look around, ask questions, and make comments.

The moment you treat your audience like you would like to be treated, everything changes.

I mean everything changes.

Your audience is happier because they are being treated like they want to be treated and they feel the whole experience of being in your orbit is more enjoyable. 

You’ll be happier because business is easier, less pushy and more relaxed. 

The irony of it all is when you stop trying so hard to sell, more people are ready to buy.

Weird, right?

So the moral of the story is that your goal must be to build relationships and you do this in your community.

Connection, community and conversion 

In the last chapter I wrote:

Relationships take time to develop. The more you see someone, the quicker that relationship builds.  That frequency is crucial when it comes to your marketing.

(In the next chapter, I’m going to reveal one of the other constants I believe is, by far, the most important to your success.)

That constant is always lead with value.

Simply put… Give in advance without expectation or condition.

(I’ll dip into that more soon...)

In the meantime, consider how powerful it would be if you reorient your belief system so that, rather than seeing your audience as something to exploit, you  view your purpose in life to be of  service to your audience.

It will change everything you do.

And rightly so.

Your business is built on your understanding of your people and how well you provide for them what they dearly want (and need).

Dig deep to find out what matters most to them, and consistently find new, innovative, more powerful ways to identify and deliver that value.

When you truly embrace this idea, you’ll begin to see the real secret to business success.That’s the subject of the next chapter .

I’ll bring all of the pieces in part 2 together into a coherent whole. 

Continue reading…