Okay you can't get a 100% conversion rate, but that is a question I've asked myself every week as I've been growing my business. How can I get a 100% conversion rate?
What would it take to get 100% of your website visitors or phone calls to pull out their credit card and purchase? The answers are going to be unrealistic. Give your product away for free, give away a thousand dollars with every purchase.
But the point of this exercise is not to actually figure out how to convert 100% of people, but to work backwards from 100% to see where you can improve. Start to think realistically.
Your best feedback will always come from talking to your customers. What do you hear from customers over and over as excuses why they won't purchase? Put yourself in your customers shoes and think deeply about what is holding them back, and what would you be looking for if you were in the market for your own products. You need to look at this from an outside point of view.
If 50% of customers say you are too expensive, what would happen if made your product or service more affordable? Try offering installment payments. You may be able to convert 25% of them to paying customers.
Think outside of the box and put yourself in your customers shoes. Being too expensive doesn't just mean you need to lower your price. You want to remove friction and make it easier for a customer to pay. 4 payments of $25 is a lot easier to stomach for many people instead of $100 upfront.
Always be improving, because until you hit a 100% conversion rate, there is always room for improvement. It goes back to the saying if you shoot for the moon you will land among the stars. If you are shooting for a 10% conversion rate, you are likely to land somewhere in between that.
Well if you shoot for 100% where might you land? 25%? 50%?
What would it take to get 100% of your website visitors or phone calls to pull out their credit card and purchase? The answers are going to be unrealistic. Give your product away for free, give away a thousand dollars with every purchase.
But the point of this exercise is not to actually figure out how to convert 100% of people, but to work backwards from 100% to see where you can improve. Start to think realistically.
Your best feedback will always come from talking to your customers. What do you hear from customers over and over as excuses why they won't purchase? Put yourself in your customers shoes and think deeply about what is holding them back, and what would you be looking for if you were in the market for your own products. You need to look at this from an outside point of view.
If 50% of customers say you are too expensive, what would happen if made your product or service more affordable? Try offering installment payments. You may be able to convert 25% of them to paying customers.
Think outside of the box and put yourself in your customers shoes. Being too expensive doesn't just mean you need to lower your price. You want to remove friction and make it easier for a customer to pay. 4 payments of $25 is a lot easier to stomach for many people instead of $100 upfront.
Always be improving, because until you hit a 100% conversion rate, there is always room for improvement. It goes back to the saying if you shoot for the moon you will land among the stars. If you are shooting for a 10% conversion rate, you are likely to land somewhere in between that.
Well if you shoot for 100% where might you land? 25%? 50%?
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