What’s your lead conversion strategies?
Do you know how to convert leads into sales or customers?
What’s your conversion rate?
Tough question isn’t.
Most people don’t have a precise answer to this because they don’t even track their traffic.
But first, how do we calculate the conversion rate?
For example, you sent 1000 visitors to your landing page and got 10 buyers, your conversion rate would be 10/1000 x 100% = 1%.
Don’t know how to track conversion?
It’s simple, you just need to place a little magical pixel into a page where conversion trigger.
If you’re using Facebook Ads or Google AdWords or Ad Network to drive traffic, they have in-house tracking pixel to track your sales conversion.
But if you’re using other traffic sources like email ads, forum traffic, classified ads, blog traffic, and etc., my answer is ClickMagick. It’s a powerful tracking tool to cater all your needs.
You can only optimize your campaign after you know your conversion rate. Otherwise, you could be going in the wrong direction without knowing it.
Traffic vs Conversion Rate
Next, let’s referring to the conversion rate formula:
“Traffic x Conversion rate = Goal”
Goal is your campaign aim, it could be sales, leads, and etc.
Conversion rate is how well your marketing can turn the traffic into the goal.
Traffic is your website visitors.
Based on the formula, your goal is determined by 2 elements which are traffic and conversion.
But you may ask,
“Why we need to improve the conversion rate? Can’t we just increase the traffic to reach our goal?”
That’s the main problem, because traffic is expensive, in term of money or time. While in business, the cost is one of the main factors to look into.
After all, who doesn’t want to lower down their cost while getting higher profits?
That’s the reason why conversion rate is so important and worth your attention.
For example, your spent $2,000 to sent 10,000 visitors to your website and got 100 sales, your conversion rate is 1%.
10,000 x 1% = 100 sales
If your goal is 200 sales, what should you do?
Increase the traffic or improve the conversion rate right?
1) 20,000 x 1% = 200
2) 10,000 x 2% = 200
Which one is better for you?
The first one cost you another $2,000 in traffic, while the second one cost you only some time in optimized your conversion rate.
How about the next 100,000 visitors?
Don’t get me wrong, I’m not stopping you from driving traffic to your website. But before you start to scale up your traffic, it’s better and more efficient to improve your conversion rate first.
If you’d like to boost up your conversion rate by as much as 50%, 100%, 200% (or more), here’re the 6 simple strategies you can apply in your business today.
Disclosure: Some of the links are referral links, for which we’ll receive a small compensation if you buy from the link, at no additional cost to you. These are all products that I’ve verified/personal tested and highly recommended.
1.The True Marketing: A Right Lead Conversion Mindset
When you’re going to build a house, which part are you starting with?
In business, it’s similar.
In online marketing space, getting money is the easy part. If you know how to serve people in exchange for their money.
You’ve to provide a solution to their problem or what they wanted.
You run some ads… and got some leads into your list…
The question comes… how to convert leads into sales?
Because nothing happens until something sold.
Building list is just a starting point, not the end.
20% of success come from getting people to your list;
80% of success come from the relationship with your list.
Because when you send an email to your subscribers, only a certain percentage of them will open the email, and fewer will click the link in the email.
Do you want a 10k list with 2% email open rate? Or a 1k list with 60% email open rate?
As the email open rate and click-through rate is mainly determined by the relationship between you and your subscribers.
What Is The Average Email Open Rate And Click-through Rate?
As per MailChimp research, the average email open rate across different industries ranging from 15.22% to 28.46%, while average click-through rate from 1.25% to 5.13%.
Note: The data is based on average, it’s not the lowest and highest.
What does it mean to you?
On a bright side, it means you could achieve much higher than the averages like 80%, 90% or more email open rate.
But on the flip side, you could also have 2%, 1% or even lower email open rate.
To be above average, you’ll have to achieve at least 30% email open rate and above 5% email click-through rate.
Sadly, when online marketers are having low email open rate, the first thing they do is complaints about email marketing doesn’t work and go to search for alternative ways such as social network.
BUT this is partially true.
Even social network have their drawback.
Youtube: You have tons of youtube followers, but if some minority haters jealous and report your channel, you might get your whole afford shut down by Youtube.
Same goes to Facebook, Twitter, Instagram etc which vulnerable to permanent account ban.
Email marketing is one of the most sustainable marketing strategies that existed decades ago, and still, continue to grow strong for more coming years.
But the first obstacle is to break through the barrier of low email open rate.
Gurus may tell you that you need to identify your market, ideal subscriber etc..
While all these are true, but not enough.
Think about: why do you respond to something you responded to, and why you didn’t respond to?
What Is Your Why
Most marketers know what they are selling, fewer know how, and very few people know why they do it.
When you are doing business, what is your WHY?
If your WHY is just to make a buck, you will be struggling, most of the time.
What is your core WHY..?
To help a certain group of people in the world?
To give a better life for your loved one?
Settle on this first before you move on.
“Start with Why”
What is marketing?
When a person opted-in to your list, it is not surprising that the person is in other marketers list as well.
In that case…
How do you make the person resonate with you instead of others?
You want them to open your email first before the rest.
“True marketing is going to start when people opted-in to your list.”
Yes, we’re just starting after people came to your world – not before.
Marketing is Educating and Simplifying.
You educate your list.
You simplify things for your list.
One day, a man who interested in making money online came to your world.
So what’s the next step?
SELL him something for $$$!!
KEEP bombards him with offers until he buys from you!
Imagine, if someone keeps sending you email every day just to sell you something and nothing else,
Will you feel comfortable?
Are you getting value from being a subscriber?
Think about: What is your subscribers’ desired outcome?
Don’t just straight away sell whatever you want to sell.
Instead, sell to your subscribers their desired outcome, not you.
“Always sell to your subscribers their desired outcome”
Marketing to him by educating him to one step closer to his desired outcome.
We will dive into this strategy in a short while.
For now, just get the big picture first.
Always serve your subscribers first before trying to get anything from them.
Believe me. They will be your biggest assets in the near future.
“Think about how you can out-cool the crowd and stand out.”
2.The Invisible Asset: Importance of Building Your List
Do you know the importance of building your list?
Did you ever heard about “The money is in the list”?
Well, this is partially true.
Especially for typical marketers.
Because typical marketers bombard their list for one objective: MONEY.
As consequence, their list turns out to be not responsive.
Then they spam, slam and eventually discard the list.
It’s common some of those may have over 100k of subscribers in their list.
And you may be wondering..
If money is in the list, they will be rich.
If money was in the list, it is easier for people to be rich.
The money is not really in the list.
The money is in the “relationship” with the list.
It consists of the relationships as marketer-subscriber, teacher-student, and friend.
It’s not difficult to understand.
Just ask yourself,
Will you buy something from a stranger who’re hard selling you?
Or a close friend that you trusted?
If money is really in the relationships with the list, we have to ask ourselves on how are we going to build this relationship?
Two simple yet effective ways are:
- Marketing to them by educating and simplifying things for them
- Provide massive value to them (Yes, as much as you can)
Your Email List Is Your Goldmine
The formula of making money through list building is:
“BUILD LIST => PROVIDE VALUE => BUILD RELATIONSHIP => MAKE MONEY”
Why building your email list?
- It allows you to reach out your subscribers anytime you want. Instantly.
- It allows you to build trust and relationship through communication.
- With small investment to maintain, it allows you to do marketing at zero cost.
- You are in full control of your list, no one can ever take it away from you.
If you yet to have an autoresponder to build your list, get ConvertKit now. It allows you to build your list, send personalized email through broadcast or automation, and much more.
You may be wondering,
How much is a subscriber worth? Is it enough to cover the monthly fee from email service provider?
Well, the answer is way more than that!
The small monthly investment will rewards you with 10x or more return for your business.
A subscriber, if treated rightly, is worth around $1 per month.
Of course, the amount varies from different industries, niches, and marketers.
Let’s do some math,
If you have 5k well-managed subscribers,
You will have 5k x $1 which is $5k per month income!
While the monthly investment for 5k email subscribers from ConvertKit is just merely $79.
It’s no brainer.
So, treat them like your friends! 😉
“How do you provide value to your list?”
3.The Number One Buying Emotion: How to trigger “Buy”
If you want to convert leads to prospects and eventually buyers, then you need to know the number one buying emotion – which is Positive Expectancy.
“The more positive expectancy you created in your marketing, the higher the conversion rate”
Simply put, positive expectancy is the Aha! moment or “Great!” feeling.
It’s one of the best lead conversion strategies you can adopt in your marketing.
For example, you are now teaching your subscribers on how to maximize the conversion with autoresponder.
You show them a diagram:
When visitor come to your landing page, after they opted-in, their email address is placed in a database, and then the autoresponder automatically sends out an email to the subscriber with pre-logged email based on the schedule.
Explain in a way that makes sense to people, and keeps it simple.
Make them feel like,
“Wow, I got it.”
“This is interesting!”
“Aha! Now I know it”
Even though they didn’t do it or implement it right away.
You can do it using video, PDF, blog post, live conference etc.
Put a framework that simple for people to understand.
For any type of promotion or follow up you do, always ask yourself:
“How do I create positive expectancy to people?”
Establish Positive Impression
The key is to make them feel like they got something valuable from you every time you approaching them, even though they didn’t buy from you.
It builds trust.
It builds relationship.
Imagine this, for every email they received from you,
They learned something,
They discovered something,
They moved a step closer to their desired outcome.
Soon or later,
The moment they saw your email,
Subconsciously, they will have positive expectancy towards your content,
Without even realizing it.
They are more happily to receive and read your email,
They are more open and willing to check out what you’re offering,
Because of the power of positive expectancy.
4. The Authority Builder: How To Convert Leads Into Sales Easily
Do you know the fastest way to take your business to the next level?
Separate yourself from the crowd.
To achieve that – You need to be very strategic with your marketing.
If you ask me…
What is the easiest lead conversion strategy?
My answer is…
To Build Authority.
Because if you appeared to your audience as the authority in your niches…
The whole process would be much easier – like building trust, get people to take certain action, selling and etc.
It’s the concept of how to sell without selling.
Think about the last time when you’re consulting your doctor,
Will you question the diagnosis and medicine given by the doctor?
No, because they are the authority in the medical field.
You trust them for their expertise and knowledge.
“How do you build authority in your field?”
Shepherding Your Subscribers To Their Goal
Let’s make a scenario:
A Man, 40 years old, married, his desired outcome is to make money online (ultimately to do things he want, buy more good stuff for himself, quit his 9-5 job and more time for family)
Surface level desire: To make money online
If you keep asking him why, why you want to make money online,
Eventually, it will come down to his ultimate goal (core why), which are more time for family, more freedom for himself and etc.
People buy Ferrari because of it makes how they feel.
Not because they need a car.
By knowing your prospect ultimate goal,
You are able to plan your marketing strategy more effectively.
But, in the beginning,
Talk to people in surface level
(Because most of your prospects do not even think about their core why)
Don’t talk about freedom when your prospect is thinking about how to make money online,
It just doesn’t resonate well.
Start a conversation with what’s in your prospect minds.
To make money online,
There are 4 milestones your prospect need to go through to reach his goal.
As a marketer, you need to strategically guide him through each milestone.
In the process,
You build authority by knowing what the milestones are, and the value you provide to him.
Milestone #1: Product
To make money online, first, you need a product to sell for profit. Right?
What you can do for them:
- Make a tutorial on how to identify a good quality product
- How to do market research for demand and competition
- Guide them step by step in text or video form
- Give them assignment to motivates them in taking action
Keep it simple and easy to follow.
What do you think about their level of trust with you?
Milestone #2: Autoresponder and landing page to build an email list.
You may do this the next day or couple days apart,
To allow more time for them to digest and identify their product.
What you can do for them:
- Educate them on how important is to build a list
- Walking through the mechanism of email marketing with them
- Guide them in setting up their autoresponder and landing page to collect email (step by step)
Keep it as simple as possible.
Provide massive value with simplicity.
You want your audience to wait for your next piece to come out.
(Watch out closely my next email)
Milestone #3: Traffic
Once you’ve identified a quality product with market demand, and a landing page with autoresponder to collect email address,
Your simple business model is ready to roll.
Now what you need is traffic. (Visitors to your landing page)
There are many different ways to drive traffic, but all you need to do is show them just one of the way,
To not overwhelm them.
What you can do for them:
- Pick one strategy to drive traffic and present to them
- Explain how the strategy works, its Pros and Cons
- Show them step by step on how to drive traffic to the landing page
For each milestone, just give enough, not too much.
The main point here is to get them familiar with the idea.
Not straight away to advanced part.
Milestone #4: Conversion
Now, you have visitors coming to your landing page and opted-in to your list,
But nothing happens until something sold.
(Remember the desired outcome? Make money online.)
What you can do for them:
- Give them one tip in converting leads to customers
- Explain to them in a simple way to understand
- Provide them an actionable assignment for them to apply immediately
With all these efforts, his level of trust will go up. Definitely.
In your prospect’s mind,
“If the first, second, third, and fourth content is great, then the fifth one would most likely be great too.”
Just like when you’re having dinner in a restaurant, if all the appetizers served are tasty, you will eventually expect the main course to be delicious as well.
As you’ve built up the positive expectancy throughout the pathway.
When the prospect reached #4, he cannot wait to buy your product on #5, because of what you provided are so valuable.
Of course, the product you offer in #5 must meet some of the following:
- Congruence with the milestone #1 to #4
- Be able to help him in reaching his goal faster
- Be able to reduce his work (more time for him)
- High quality
- You can stand behind the product 100%
In short, only offered something that you sincerely believe is good and can truly help him, but not because of the commission that you’re able to get.
“What are your prospect’s milestones to reach his desired outcome?”
5. The List Communication Structure: How to engage with your list
With the help of email service provider, you’re able to craft out a list communication structure and automate the whole process.
Not only that, you can strategize the email sequences with personalized contents to help and communicate with your audiences more effectively.
In fact, you’re free to use your own way in engaging your list, it’s your asset and you have full control on it. However, if you yet to have any idea in communicating with your list, here’s an idea for you:
“A good communication structure is built around value”
Note: Start is when people opted-in to your list, C stands for Content Email, and P stands for Promotional Email.
Usually 3-5 valuable contents before your pitch that’s:
- Simple to understand
- Create positive expectancy
- Solve a small specific problem
- Congruence and support the final pitch
- Help them a step closer throughout the milestones
For the promotional email, keep the value-to-pitch ratio to 90% value and 10% pitch. Because you want them to walk away with massive value regardless of whether they buy or not.
Make them feel like you’re helping them, not pitching.
When you present the offer to them, you may offer some bonuses as unique selling proposition to give them another reason to buy.
How long shall a campaign last?
On the other hand, how many follow-ups emails shall you send for one campaign?
Let me define this way (so that you won’t confused):
You’re promoting a product called “XY”, so a campaign is a period of follow-ups for that specific product. All the contents, messages and pitches in the follow-ups are congruence with the product “XY”.
Referring back to the list communication structure, we have 4 Content emails followed by a Pitch email.
Let’s expands it further for optimum conversion.
Now we have 10 Content Emails and 2 Promotional Emails, total 12.
If you send the email every day, it will be 12 days;
If you send every 2 days, it will take 24 days;
If you send every 3 days, the campaign will last for 36 days.
Let’s say you follow up with your subscribers every 1 to 3 days, the campaign shall take about 12 to 36 days. (2 to 5 weeks)
But of course, it totally depends on your marketing need, sometimes you may just want to run a short campaign like 3-7 days.
Note: Difference email service provider will have difference interpretation for campaign (eg: Converkit called it Sequence).
After the first pitch, show them testimonials or interviews from people who bought the product on the next 2 emails (C5 & C6).
Sometimes, people need a little bit more confidence to make a decision. What else better than the experience from real product users?
Then the next 2 pieces (C7 & C8) could be a product Q & A to tackle all the doubts and questions in your prospect’s mind.
After all, there are 3 types of email to send to your subscribers:
– To provide value to your subscribers
– Help them to solve a specific problem.
– Recommend a product or service that beneficial to them
– Share your personal life, thoughts, and ideas to build up the relationship
Bear in mind, if people don’t buy at the first time, they may buy at the second time, third time, and so on. Thus, a well-crafted follow-up is crucial for your business.
With a tool like ConvertKit, you can even customize the whole follow-ups with personalized messages using tags and ‘If..Else’ function and segments the list for better conversion rate.
What to do after the first campaign?
After the first campaign ended, you may either segments the nonbuyer into a broadcast list (where you only email them once to twice a week for latest news and contents) or put them into another campaign for difference product. (You can make this happen automatically with ConvertKit)
If you want to know more about the reason why they didn’t resonate with the offer, send them a survey to avoid guesswork. =)
And for the buyers, put them into a special segment to exclude them from the same product promotion. It doesn’t make sense to ask a buyer to buy the same product again right?
“How do you communicate with your subscribers?”
6. The Online Presence: Your visible online assets
At this stage, hopefully, you got some ideas to be implemented in your business.
Now, let’s talk about your online presence.
To get your business explore in the online space.
To let people find you.
To share your idea, knowledge with people.
If your email list is an invisible online asset (Which people can’t see)
Then your blog is a visible online asset (Which people can see and find you)
The concept is simple,
With a blog, you will have a medium to provide more value to your list and interact with them.
You can teach them more valuable stuff at your blog.
(Don’t have a blog yet? You can start a blog on WordPress in 20 minutes!)
Video + Blog
If you’re making a video for them, embed the video in your blog instead of sending them to your Youtube channel.
Why? Because you want to isolate them in your space. (Youtube just too many distractions!)
For the video, make it 95% content and 5% soft promotion at the end.
(You may say: If you want something more, please check this out! => Link to the product)
You can send them a simple email and direct them to your blog with content or video.
Hey friend, here’s the tip of the day,
Always build your email list
If you’d like to know more, check out my free training here: link to your blog
Make use of your blog to attract leads and deliver value to people. You’ll be surprised by how much a blog can do for you. (If you yet to discover the potential of blog)
Not only that, if you optimize your blog for SEO, you can improve your search ranking and brings in targeted visitors to your blog residually – for free.
Do you have an online presence now?
Here are the 6 methodologies of massive conversion:
- The True Marketing
- The Invisible Asset
- The Number One Buying Emotion
- The Authority Builder
- The List Communication Structure
- The Online Presence
Need more ideas? Let’s check out these 11 tips to boost up your conversion rate further!
As you can see, all the lead conversion strategies are surrounding one core objective which is VALUE.
This is exactly how to convert leads into sales – By providing tons of value to people.
Yes, deliver value, serving people are so important right now in this industry.
There’re too many scams and so-called “guru” out there, scamming people, giving false promise, making money from the poor followers to live their luxury life.
Don’t be one of them!
This industry is about giving value and serving people.
Do something others don’t do.
Treat your subscribers sincerely, they are people with feeling.
Know your game, know your stuff.
Study other marketers, entrepreneurs who are successful, learn from them and share your experiences with your subscribers.
Be a student of the industry and learn what works and what we can do to make it work better.
Share your stuff freely to the world to make this world better.
The more you shared, the more you have!
Sometimes, serving people is not an easy task and will take you to go for extra milestones.
But, it’s one the most satisfying job in the world.
You’ll be hating by people with funny reasons. It’s normal, that’s human anyway.
You may even get feedback from people who doesn’t appreciate your efforts. It’s ok, just move on to serve those appreciate you. I sincerely believe, if you serve people genuinely from your heart, they will appreciate it (even though not all).
Just do your best to help people, it won’t cost you an arm and a leg. Indeed, it’s a win-win.
Sometimes, you need to give first before asking for something back.
What are you going to do to make this world better?