Converting customers leads to making a profit which is what every business revolves around, however certain methods will increase your chances of this.
Converting customers in the most efficient way for your business includes a huge amount of research, brand and growth marketing (whether paid or unpaid), and the understanding that it is not a linear process. Seeing customer conversion in a linear process can be a drawback. You want iteration, thus you need to maintain relationships with customers you convert.
You don’t want prospective customers moving to competitors when they are already interested. Here are a few simple tips on how to engage and convert:
1: Refine your marketing
You want to have both brand and growth marketing. Brand marketing will initiate awareness of your business. This will help to establish yourself as a legitimate and professional brand that customers feel secure in engaging with. Once you have gained awareness, growth marketing is where the conversion occurs. You want potential customers accepting your call-to-action (CTA) such as “buy now”. To get customers to this stage, leveraging your insights is crucial as it helps you find where things are going wrong.
2: Leverage your insights
Integrating software such as Mixpanel into your site or app allows tracking of various analytics. Customizing what analytics you choose to track and layering them provides detailed insights into what marketing is working and what is not. In the process of refining your marketing this is a vital tool that can help funnel resources into the channels that are good for your profit margin.
For more information on the benefits of Mixpanel, click here.
3: Ensure your site/app is easy to uses and visually appealing
Despite how many times we are told ‘not to judge a book by its cover’, it is second nature to do so. This is why your business needs to have a foolproof site/app. Within the first 50 milliseconds, visitors to your site will make a decision about whether they like it or not, the latter resulting in clicking off and possibly shifting to a competitor. Getting a prospective customer to enter the site is one thing, but converting them is another.
4: Utilise both paid and unpaid channels
In terms of your marketing strategy you need to find the right fit for your business. Both paid and unpaid channels are important contributors to this. Both types of acquisition have pros and cons, for instance, very few businesses will make much money off of paid marketing because it can be very expensive, however it allows you to spread brand awareness.
Unpaid marketing requires more time and effort. Methods of unpaid marketing include word of mouth, partnering with other brands, and promoting on social media. These methods are more organic and require your team to constantly stay ahead of trends. You will need to be creating content, researching brands to collaborate with, and talking about the product or service. All of this takes time but will build up the base of your marketing and will need to remain consistent.
The two forms of marketing channels play off one another. Paid marketing builds legitimacy for your brand, whilst unpaid marketing can be seen more as the backbone that allows you to create the narrative. In saying this, your team needs to stay consistent, sharing posts on social media, keeping the conversation going and finding relevant and successful brands. It requires greater research and this is why it is more time consuming.
5: Follow up and remember them
Once you have converted a customer, or have been in communication with them, ensuring you remain in contact with them will keep them interested. You want to stop the churn. Engaging with customers you already have hooked and remembering them could be the difference between making a sale and not making a sale.
Converting customers can be difficult at first. Using the above best practices is one way to better your chances, however which methods you choose can be industry specific. For help creating a website that lures in customers, Latch is here to help. You can contact us here.