As a business coach, one of the questions I get asked most frequently is:
How do I get more customers?
I tell every business owner the same thing: “I can’t help you simply GET more customers. Humans are, by nature, unpredictable, and there are no strategies to control how they behave or force them to comply.”
However, I can help you with converting the leads that you generate into more customers. By improving your conversion strategies, you can appeal to more prospects and turn them into successful sales.
In this blog, I’m going to share 3 efficient and cost-effective ways to improve your conversion rate and earn more customers successfully.
Why should you focus on improving your conversion rate?
I’ve seen so many businesses over the years focus entirely on their ongoing lead generation techniques to drive more and more prospects in – all in the hope that, with such a large number, some will eventually convert. However, this is often one of the slowest and most expensive ways to make a sale.
If you’re spending a lot of marketing dollars on attracting more and more leads but not converting them into customers, then it’s a very inefficient and unsustainable approach.
That’s why I tell business owners that they should instead focus on improving their conversion rate – which is the percentage of leads that they successfully convert into paying customers.
If you have a higher conversion rate, then you need to spend fewer resources on attracting such a large number of prospects in the first place to get the same amount of customers. In other words, it takes a lot less time and effort to convert a lead than it does to generate a new one.
So, how do you get better at converting them over?
3 effective ways to improve your conversion rate
Before we begin, each of these techniques assume that you’ve already systemised and refined your sales process around the psychology of decision making. If you need help with this, reach out to me and I can assist you, or you can read my recent blog.
Here are my top 3 tips to help you increase your conversion rate:
- Improve your product and service offering
Start by creating a more compelling case for your potential customers by improving your current offering’s perceived value.
I’m not talking about discounting or lowering your prices. I’m talking about adding more value to your current offer by throwing in an additional product or service that your customers might want or need. Yes, like the cliché “throw in an extra set of steak knives” technique – it’s popular because it works.
Ideally, this won’t cost you much extra, but your customers will see it as more appealing, and consider your offer a great deal.
What can you add that will increase the appeal of your offering?
- Remove any risk for your customer
Every decision typically comes with risk – and if that risk is too high, people won’t convert.
Products are much easier to safeguard against risk as you can provide a warranty for a defective sound system or pair of shoes.
However, for a service-based business, your leads will immediately determine the risk involved in working with you, knowing full well that there’s no guarantee they will like your service, or if it will work for them. To address this, you can provide them with a risk-free guarantee to make their decision easier.
And when I say risk-free, I mean risk-free. That means offering full-on, high stakes money-back guarantees that provide your leads with added security in their decision making, while simultaneously holding you accountable and compelling you to deliver a great service every time.
How do you make your leads trust you more?
- Create a detailed product ladder
One of the biggest barriers for your potential customers is their budget.
To alleviate their concerns, develop a “product ladder” that ranks your range of products or services with ascending prices and feature sets.
With this, you can provide something for everyone, regardless of budget. This will help to eliminate hesitation and earn more customers that may not have previously considered purchasing from you.
If a lead won’t buy the full package, what smaller package could you offer to get them in the door?
At the end of the day, it comes down to taking control over your conversion strategies – not the customers themselves. By implementing these 3 techniques, you can improve your conversion rate and earn more successful sales for your business.
The best part is that each strategy is totally free. Unlike lead generation, all this is going to cost you is a little bit of time and creativity to come up with:
- A value-add
- A risk-remover
- A range of packages
If you do this successfully, you’ll convert more leads into customers.
Do you need help in improving your conversion rate?
Your customers are essential to the growth and wellbeing of your business. If you’re looking for more tailored advice on how to improve your conversion rate and convert more customers, I can help.
As a Business Coach and Mentor, I work with business owners like you to help you achieve your business goals.
I can guide you in developing conversion strategies, improving your product offerings and becoming more customer-centric to help you convert more leads and build a highly successful business.
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