Convert More Prospects And You WILL Have More Customers

Convert More Prospects And You WILL Have More Customers
Convert More Prospects And You WILL Have More Customers One of the most common and immediate sources of revenue for your business is in converting more prospects into buyers. If you are only converting 1 in every 10 prospects, 9 prospects are giving their money to someone else. Realistically, a portion, say 30%, of these prospects have no intention of buying from you no matter what you do. So let's assume you already convert 10% of prospects and 30% will never buy anyway. This means that you have an opportunity to obtain 60% more customers with no advertising or extra marketing initiatives!

So How Do You Convert This Extra 60%?



There are several ways to increase your conversion rates, but in this article I'm going to discuss one approach that comes down to a very simple philosophy. It's all in the long-term view!

To demonstrate this, imagine yourself in a nightclub eyeing off a very attractive member of the opposite sex. You decide to walk over, meet this person and start a conversation. However, before you can even get your second sentence out the person turns to you and says: "Listen! If you would like to continue this conversation, you must marry me first!". "In fact, you must marry me now, tonight, otherwise we're through!"

Would you continue to talk to this person? NO! There is too much risk, too much commitment on your part.

Ironically, that is how most of us talk to new prospects! Instead of making it easy for them to build a relationship we insist that they "marry" us first. Unknowingly, we raise barriers that deter them from becoming a client. One way we do this is by insisting prospects pay up big $$$ first before we get to prove ourselves and show our worth.

Consider that charging a high amount up front before someone really knows you or your offering is the equivalent of hitting them with the marriage proposal. Most of us do this because we take a short-term view of the customer, we don't actually consider their lifetime value. The lifetime value is the total dollar amount a client is worth to us over the duration of being our client. Most of us treat a prospect as if the only money they will spend is in the first transaction. Here lies the opportunity for a change in philosophy.

The objective is to get prospects into the buying cycle of being one of your customers.

Lowering the price on the first transaction is one way to reduce the obstacles for new prospects and increase your conversion rate. If you know you'll get decent repeat purchases then you may be able to comfortably remove your margin from the first sale. Many accountants, physiotherapists and chiropractors do this very well.

So, substantially more revenue can be accessed when you convert more prospects. Remove the barriers deterring prospects from entering into a relationship with you and you'll have more customers. Your profit will be in the repeat purchases, so don't jeopardise the lifetime value of a customer for just one transaction.

Think about the first transaction you frequently have with new customers. What barriers are in the way and how can you remove them to ease new customers into a long-term relationship with you?

Creating Killer Headlines

A Killer Headline is one that grabs the attention of its intended target market and draws them in to read the rest of the piece. Killer headlines generally consist of a strong benefit that the reader can experience when purchasing the product or service. It's this benefit that actually grabs the attention of the reader. Look beyond the actual product or service featured in each headline to see the formula used. You want to pay attention to the way the headline is composed and formed. Consider which examples will work in your industry. All direct marketing pieces require powerful headlines!

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Written by Daniel Rechnitzer of ChildsPlay Marketing

Daniel is the creator of ChildsPlay Marketing, a brainstorming kit whereby- mixing and matching 3 decks of cards has you create over 125,000 unique marketing campaigns. Visit the website now! www.ChildsPlayMarketing.com

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