The joy of every digital marketer is seeing ordinary website visitors convert to paying customers. Nothing gives a marketer nightmares like deploying marketing strategies without getting tangible results in terms of conversion rates. It saps your confidence and could destroy your business in the long run.
Using the Marketing funnel analogy, a funnel is every step a potential customer takes from the first point of contact with you to the point of making a purchase.
Everything you do along your funnel will mean nothing if you don’t have a good percentage of the people who enter the funnel and move down to become customers. If prospects exit your funnel halfway, you probably have a leaky funnel.
The truth is that no part of a funnel is more important than the other. The pathway to increasing your conversions at the bottom of the funnel begins from the top. Your ad must have a copy that sends the right message to your ideal clients. You could also decide to use a lead magnet to attract prospects to your landing page.
The sad thing is that everything can be right – the perfect copy, appealing lead magnet, and an interactive website – and yet your conversion rates still tank. You could have tons of leads flowing through your sales funnel, who you might not make it to the bottom.
I’m not saying you must convert every lead that comes in through your funnel. However, there’s a percentage conversion rate you have to attain to make your marketing efforts worthwhile.
The average conversion rate across businesses online stands at 2.35%. However, the top 25% of companies are enjoying a conversion rate of 5.31% and above. A further look into these statistics shows that the top 10% are crushing it at 11.45% conversion rate or higher.
The implication of this is that if you want to hit it big in conversion, you have to turn three out of every twenty-five visitors to paying customers. That’s a 12% conversion rate.
How do you achieve this level of conversion?
The answer to this question is this: adopt a psychological approach to your marketing. 95% of people who purchase online make their buying decision emotionally.
If you want to convince a prospect to buy stuff, you need to take the psychological highway if you’re going to close them effectively. You need to know the way prospective customers think, reason, and behave per time.
Below are the top 5 psychological methods that will help you increase your conversion rates.
- Offer Value First
The days of closing a customer by all means necessary are far behind us. People have become wary of digital marketers who aren’t better than a used car salesman. They go around the internet throwing offers at people’s faces without providing real value.
Potential clients don’t want to have anything to do with a marketer whose primary aim is to close them. People need help, and they naturally gravitate to businesses that offer tangible help. Potential customers can smell when you want to sell them from a thousand miles away.
I’m not saying you should offer your products or services for free. After all, you aren’t running a charity organization. You have bills to pay, family to feed, and a business to grow.
The idea is to offer your prospects so much value that they want to pay you for your services. Let them see that you genuinely want to help them. You could give them a part of your services for free to help them solve a particular problem.
It doesn’t take much to do this. It could be a short guide, a video, or valuable content, showing prospects how to solve a particular problem. It makes it easier to convince them that your service offers a real solution.
- Work On Your Sales Script
I will be lying to you if I tell you that the communication you have with a customer shouldn’t have a script. Scripting is not a bad thing to do. We’ve watched movies that appealed to us emotionally, and we almost believe they were real. Right?
The problem is not with the script. When you solely rely on the script and don’t get your heart to it, your conversion rate will suffer for it. While the script keeps you on track, your emotions connect to your prospect to drive the message of the script home.
However, if your script isn’t adequately worked on, you will continuously have problems closing clients. Therefore, you need to put in the work to develop your sales script beyond the letter. I recommend you use the services of a professional sales scriptwriter to build your sales script. You can check out script writing services reviews such as Best Writers Online to get a good script writer that flows well with your brand voice.
- Always Use Social Proof To Validate Your Claims
If you want a prospect to believe in your ability to help them, show them results from other people you have help. People will believe your claim if someone they know and trust validates the claims. 9 out of 10 online buyers make purchase decisions from online reviews.
The psychology behind social proof is the need to save ourselves the stress of thinking through so many options. We want a shortcut to making buying decisions. And, the easiest way to know if a product or service is worth investing money into is to read, see, or hear what other people have said about it.
If you want to shoot your conversions to the roof, let others blow your trumpet. Prospect will believe you more.
- Use Emotional Triggers
Have you ever had a gun pointed to your head for you to divulge classified information? At gunpoint, most of us can betray a dear friend to save our life. People will do anything to either walk away from pain or walk closer to their desires.
Pain and desire are two strong emotional spots that get people to take action. Your ability to use them to your advantage will help you increase your conversion rate.
There are three ways you can pull an emotional trigger on prospects:
- Urgency: A sense of urgency appeals to a prospective customer’s fears. It gives them the feeling that they will lose out if they don’t purchase a product or pay for a service at a given time.
- Scarcity: When a prospect feels that a product is scarce, they want to get it immediately because they don’t know when it will be available again.
- Rarity: A product is rare when it was manufactured for only a few people. For instance, if there are only 100 of an item made, a prospect will want to be among the elite 100 that possess the product.
Don’t get this twisted; it’s not manipulation. It’s making the psychological disposition of potential clients work to your advantage. Remember, the endpoint is giving value or help to the customer.
- Establish Authority
I left this for last because it’s a dicey method. If you don’t know how to use it, it could backfire. On the flip side, if you use it well, you’ll reap a consistent harvest of high conversion rates.
Here’s the thing: people only buy from brands if they perceive that they know what they are doing. They need some assurance that what you’re selling to them works. They need to feel the conviction oozing out of you.
Establishing authority during a sales call or a sales closing session assures a potential customer that they are dealing with the right person.
What’s the Point of This?
Everything boils down to making the most of your marketing campaign to ensure you get high ROI from your marketing efforts. It doesn’t make sense to spend thousands of dollars in a marketing campaign, and the results are little to nothing. A high converting rate makes all your marketing efforts worth the while.