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:
Those who are ready to 𝕓𝕦𝕪 𝕥𝕠𝕕𝕒𝕪, those who will 𝕟𝕖𝕧𝕖𝕣 𝕓𝕦𝕪, and those who are 𝕚𝕟𝕥𝕖𝕣𝕖𝕤𝕥𝕖𝕕, 𝕓𝕦𝕥 𝕟𝕠𝕥 𝕔𝕠𝕟𝕧𝕚𝕟𝕔𝕖𝕕.
The secret is to focus on the third group. Those interested, but not convinced.
How to Think About This
It helps to think about conversion optimization the way a salesperson thinks about working with sales leads.
If a salesperson has a set of 100 leads, he will organize them into two buckets.
In one group he’ll place people who readily receive his phone calls, can afford the product he’s selling, and are looking to buy in the near term. In other words, people who are interested, but not convinced.
In the other bucket, he’ll place the tire kickers.
The salesperson uses many signals (years of sales experience) to determine which category each lead falls into.
We need a similar strategy for your online store.
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 𝕟𝕠𝕥 𝕔𝕠𝕟𝕧𝕚𝕟𝕔𝕖𝕕.
To target people interested, but not ready to buy, 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? /
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After Identifying People Interested, But Not Convinced
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 14 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.