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Interested, but Need a Little More Convincing
You spend so much money advertising your brand and building content so people can try and enjoy your invention.
And not just that you’ve taken so much care to create your product.
And then we look at the conversion rate of our ad spend and discover that it’s below 3%. (Source).
Paradoxically, I believe one reason why our conversion rates are so low is that instead of being surgical, we try to boil the ocean.
As I see it, there are just 3 types of visitors to your eCom site:
Once they’ve consumed your pitch, prospects can be placed in 1 of 3 groups:
— Ready to buy
— Will never buy
— Interested, but need a little more convincing
The 3rd group has the biggest revenue potential.
How to Think About This
It helps to think about conversion optimization like a salesperson thinks about working on sales leads.
If a salesperson has a set of 100 prospects, he will organize them into two buckets.
In one group, he’ll place people who receive his phone calls, look like they can afford the product he’s selling, and are willing to buy in the near term. In other words, people who are interested, but need a little more convincing.
In the other bucket, he’ll place the tire kickers.
The salesperson uses many signals (years of sales experience) to determine each lead’s category.
We need a similar strategy for your online store.
The Strategy
This is a delicate dance because we don’t want to disrupt the flow of people who are ready to 𝕓𝕦𝕪 𝕥𝕠𝕕𝕒𝕪. While at the same time, we’re looking for a mechanism to target those interested, but need a little more convincing.
To target people who are interested but need a little more convincing, we place subtle nudges across your funnel. In the example below, the red arrows highlight locations where our nudges have been added.
The advantage of the system is that I didn’t have to redesign the page or drastically change its layout. The reason I don’t want to alter the page drastically is that the page is already working and doing a good job converting those who are ready to 𝕓𝕦𝕪 𝕥𝕠𝕕𝕒𝕪. I don’t want to disturb the flow of this group, while simultaneously, I want a mechanism that allows me to target my most important audience.
Does this make sense? /
After Identifying Those Interested but Need a Little More Convincing
So far, we’ve only covered the mechanism through which marketers can identify their hottest prospects. What we haven’t revealed is what to tell this most important audience to get them to pull out their 💳. That is after all, the whole point of the exercise.
We’ve spent 15 years in the marketing lab 🥼 running experiments 🧪 on online shoppers to understand how to under why they do and don’t buy.
9 truths have come to light.
