We all have them in all our businesses.
Those buyers that, despite your best efforts, simply refuse to buy what you’re selling. They sit on your list or become readers of your blog but never take action and spend money.
The bad part is, these “stubborn buyers” make up a large portion of the people visiting your website everyday. In a general sense, in most markets, about 4% – 10% of your visitors fall into this category (based on my own experience).
The good part is, many stubborn buyers are stubborn because they need to sit on their decision for awhile before buying. However when they do, many times they will become your BEST, hyper buyers. That’s why we’re about to discuss several strategies you can begin implementing today to start capturing this huge portion of your audience to increase your front-end and back-end sales.
Let’s get to it.
#1: Encourage Engagement
Engagement is powerful. ConversionXL, for example, claims that visitors who use site search can be as much as 5–6x more likely to convert than those who don’t.
Engagement is something that should happen naturally, and frequently. In certain cases, it helps strengthen the bond between your visitor and your company (for example, if they reply to your personal email).
Here are a few ways you can encourage engagement throughout your entire sales funnel.
- Prominently displaying a site search bar on your website/blog
- Telling email readers to reply back to emails (and having someone reply to them)
- Engaging and replying back to comments
- Replying back on social media
- Getting on camera either in videos or in places like Google Hangouts
By engaging with your audience, you begin to develop trust. People only want to do business with those they know, like, and trust. While it might not be the deciding factor, it certainly gives you a big advantage over competitors who aren’t engaging with their customers.
#2: Run A Promotion Without Lowering Price
Sales and promotions are a great way to scoop up low-hanging fruit because it forces people to make a yes/no decision. If they are on the fence and see you’re running a 50% discount for a limited number of days, you will convert a high percentage of prospects into buyers.
But here’s the thing.
You don’t need to lower your price to get people to buy.
Yes, discount sales work great. But they also severely reduce your net, bottom-line profit. In many businesses you might give a 50% discount and actually lose money on each sale. For example let’s say you sell a $100 product, which costs you $40 to create and get in the hands of the customer.
That’s a 60% net margin, for a profit of $60 per $100 sale.
If you hold a 50% discount, you’re now only making $10 per sale. That means you need to sell 6x the amount of product to break even on your regular price.
Instead of following your competitors and competing on price, get creative. Here are a few ideas to get your juices flowing…
- Bundle your products – I recently did this in a side business of mine. One product sold for $27, the other sold for $147. My promotion let customers get both for $97. Yes, that’s reducing my price… but I also tripled my average sale, since the higher priced product doesn’t sell all that well. (I recently bought it and haven’t yet had time to rewrite the sales letter for it)
- Add a bonus – Instead of just selling them XYZ for $XX, consider adding a one-time bonus when they buy during your promotion. One example would be a free coaching session, performed by you, a member of your team, or even a complete 3rd party. And speaking of 3rd parties…
- Use someone else’s resources – Don’t want to lower your price and don’t have any bonuses you can give away? Get creative. Use the assets of someone else to give to your audience, and create a win-win-win. Here’s an example. Let’s say you sell software. You can coordinate with a non-competing business and bundle their product into your offer. To make it worth it for them, you’ll give them access to all the buyers, which they can then market to themselves to increase their back-end.
The important part is this: Don’t let yourself be limited by what your competitors are doing. Get creative and try to create irresistible offers WITHOUT decreasing your profit margin, which is what sales typically do.
#3: Increase The Trust Factor
Trust is one of the single biggest factors in increasing conversion rates. If someone does not trust you, they will not buy. End of story. You have to make incredible efforts to be perceived as trustworthy to your marketplace.
The first step to do this?
Here are a few ways to make sure your audience knows you are.
- Always do what you say you will. Stay true to your word. Think about your personal friends. Are you, on average, closer to those who make plans and then always break them… or those who always do what they promise?
- Always put your customer/client first, even if it hurts your growth in the short term. Trust me, word will spread and your conversions will increase over time.
- Show your personality. Don’t hide behind a digital curtain. Be yourself. Show your audience pictures of yourself, your family (if you’re comfortable with it), and tell them about what you do in your daily life. They will love it and bond with you. Plus, you’ll write your emails faster.
- Tell them about your weaknesses. This is a copywriting strategy called a “damaging admission.” To do it, display a perceived weakness of yours and then immediately show why that weakness is actually a good thing. For example you can say that sometimes you’re slow to respond to emails to prospects because you give customers/clients priority.
- Provide proof. Anytime anybody is going to buy anything, they want reassurance that it will work FOR THEM. Provide proof of results in as many ways as you can think of. This gives you the best chance of having something resonate with that specific visitor.
#4: Create And Display Authority
When all else is equal, your customers will choose the person who conveys the most authority. Think of celebrities. Why do you think they are used as the spokesperson of products, like Michael Jordan with Hanes/Wheaties or William Shatner with Priceline? Because they have built-in authority!
You must be constantly demonstrating your proof and authority. Tell stories… discuss customer/client results… have case studies… these are all ways of increasing your authority.
Don’t have authority, or simply want more of it?
Here’s what you can do.
Juxtapose yourself alongside someone who does have authority.
Here’s an example.
I recently flew out to Lake Tahoe for an in-person consultation day with a client of mine, Garrett Sutton. Garrett is one of the Rich Dad Advisors and has incredible credibility with anybody who has ever read the “Rich Dad, Poor Dad” book series.
So before I left his office during our consultation day, I made sure to get this video…
Here are a few more ideas just in case you’re a little more new and are looking for new ways to generate authority, even if you don’t yet have any.
- You can get pictures with the “gurus” in your industry…
- You can interview them…
- You can have them add content to your products/services…
In other words, make yourself appear as if you are one of the “insiders.”
Will this have an immediate effect on your conversions? Sometimes yes, sometimes no.
However if you continually show and remind your audience that you are an authority in your industry, they’ll come to trust you and therefore buy more often.
#5: Use Personal Stories To Re-Position Your Product
Sometimes people have a hard time relating or understanding how your product or service will truly help them. More, they simply can’t find an emotional connection between your product, and their lives.
The way to do this is through stories.
Thomas E. Smith is an entrepreneur trying to revolutionize the sport of ice hockey. He developed a unique product called the “Look-Up Line.” It’s a 40-inch orange band painted onto the ice of hockey rings developed to give players a warning that they’re about to smash into the boards.
At first, he had a hard time getting the owners and managers of hockey rinks to understand the value and safety of the orange bands. They saw it as a good idea, but not good enough to spur them to action.
Then, he began using his own story.
In 2009, Smith himself became paralyzed after slamming hard into the boards. That’s the reason he began looking for a more safe rink.
During sales calls, he began saying things like “It only costs $500. My medical bills were $550,000 in the first six months alone. Spending $500 to potentially save a life? It’s not about an orange line. It’s about saving a life.”
See how his story and the way he positions the line (i.e., it’s not an orange line, it’s a life-saving device) completely changes the thought sequence of the buyer?
That is what creates massive increases in conversion rate.
Here’s What To Do Next
If you’ve read any of my other posts you know that I love giving a lot of actionable content. However sometimes this can be a little overwhelming. Instead of becoming another victim of information paralysis, I want you to pick ONE of these strategies and think about how you’re going to use it in your business to increase your conversion rates throughout your sales funnel.
Then let me know in the comments below!
Read other Crazy Egg posts by Jeremy Reeves.