Posted on Jun 14th 2019
Increasing your conversion rate is the foundation of higher sales volume and better sales performance. A higher conversion rate reduces internal costs per sale, increases your marketing ROI, and frees up more time to focus on doing the things you love (both within your business and your life).
This article will outline 8 proven strategies to help you increase the close rate of your cold and warm leads.
Add a guarantee.
Include a 14, 30, 60, or 90- day money back guarantee. The majority of customers will never use it, but knowing it’s available if needed helps customers feel confident in completing a purchase. This works best if you make it a “no-questions-asked” refund policy. This is one simple, straightforward, and immediate way to increase sales with little or no risk involved for your business.
Even one great testimonial displayed on your sales page or sent out through follow up emails can drastically increase your conversion rates. I recommend using at least 3 testimonials if possible. Try to use a testimonial that enables a customer to see themselves in that person’s shoes. You want a potential customer to read a testimonial and be able to see themselves having their problems solved and their goals accomplished by choosing to do business with your company. Use testimonial support to make it clear to potential customers that you can deliver on the promises you are making.
Use social proof.
Include subscriber count, social media follower counts, or Google Reviews. Other options include setting up a live feed of a popular Facebook post, your Instagram feed, or your Twitter page. Social proof (showing that a large portion of people use you, trust you, and recommend you) is a great way to help customers feel a reduced sense of risk, thus increasing conversions.
Address common objections before they arise.
After a while of being in business, you should have a good feel for the common objections or questions that come up before a customer signs up. For example, if you’re in a service-based business, customers may often ask about the length of your contract and/or if there are any fees to get out of it. If you’re in a product-based business, customers may often ask about the warranty, shipping speed, or uses under certain circumstances. Address common questions/concerns in a concise FAQ section that assuages fears and provides confidence in purchase.
Create an “Offer They Can’t Refuse”.
This one often takes a little more leg work, but it pays off in a big way – for the long haul. Set up some A/B tests, send out some customer surveys, and do some market research beforehand to determine the best offer. It may be a $1 30-day trial, a BOGO sale, a “Free – Just Pay Shipping!” offer, or a limited time added bonus if they sign up now. It’s important to have a deep and wide understanding of your target customer. What benefits do they desire most? What are their biggest frustrations and obstacles? What do they value? What are they most willing to pay for, and why? Take some time testing out your offers to figure out which one is best to increase your conversion rate.
Follow up at least 7 times.
Your sales funnels should be set up to follow up at least 7 different times. Research shows that it often takes up to 7 touch points (and often many more) to go from cold lead to completed purchase. Using a customer engagement platform like Client Tether makes it easy to automate lead engagement, sales, and retention, which ultimately increases close rates. Make sure your system is set up to capture leads, retarget leads, and nurture leads throughout the entire sales process.
Video is not only more engaging and easier to consume, it also helps to humanize your brand. You want potential customers to build close relationships with your brand. You want to resonate with them emotionally on a human level in addition to assuaging any objections on an intellectual level. Tell your brand story, explain your business in 30 seconds, and end with a guarantee/warranty and call to action.
Offer bonus discounts at checkout.
There often tends to be a lot of dropout between the checkout page and the order complete page. To reduce this dropout rate and increase conversions, offer a bonus surprise discount at checkout. This could be free shipping, a free bonus product, an extra 5% off, or a 50% off coupon to use on their next purchase. If possible, have this page include a timer and copy that says something along the lines of: “This offer only valid if purchase is completed in the next 2 minutes”.
Remember to be authentic, help your customers feel comfortable, and build relationships from the first engagement all the way through the customer journey. Implement these eight strategies to increase your conversion rate and your sales volume. For more info on how Client Tether can help automate your sales process and customer retention, request your own personal demo here.