Don’t Get Left Behind: 6 of the Most Effective Funnel Conversion Strategies for 2018
Feel like you could squeeze a bit more out of your sales funnel?
Tired of losing sales during the final stretch?
Keep up with the times: make sure your marketing integrates these six conversion strategies that are proven to seal the deal.
While sales funnels themselves tend to be relatively complex with so many variables and factors influencing our success, the concept behind the funnel itself is relatively simple.
That is, users enter the funnel. Some stick around, others bounce.
Of those who stick around, some make it all the way through, we make a sale and hopefully some of those buyers become returning customers.
Wash, rinse, repeat.
But what about the ones who bounce?
What about the buyers who dropped off at the last minute, perhaps became distracted or had a momentary change of heart?
The fact is, we tend to focus on our success rather than our lack thereof.
It’s the reason we talk about a 2.7% click-through rate rather than a 97.3% bounce rate.
Did we really fail the majority of users who landed on our pages? Is it fair to call it a failure at all?
We shouldn’t beat ourselves up over the customers we fail to convert, but we shouldconsider how to increase our conversions better and define a clear-cut strategy in exactly how to do so.
Thankfully, Theres plenty of data out there on which we make our decision when it comes to optimizing our conversions.
Yet conversion optimization is incredibly tricky for some reasons.
For starters, the sheer number of variables (copy, ad placement, design or traffic sources, for starters) can make A/B testing a headache.
Yes, we want our marketing decisions to be driven by data; however, what are we to do when that data is so scattered?
Secondly, click-through rates vary widely by factors such as industry, which is ultimately a metric beyond our control.
Finally, outside factors such as social media mentions, product ratings, and review sites are also noted to have a significant impact on our ability to convert.
Then is conversion just a numbers game, completely out of our control?
Should we just sit around, hoping for the best?
If you’re looking to convert customers in 2018, consider the following six strategies which are proven to hook prospective buyers.
Rise above the lowly half-percents and make your marketing efforts actually count.
#1 “Create a Sense of Scarcity”
The first two strategies for converting customers in 2018 delve into buyer psychology.
The concept of scarcity doesn’t require you to be an expert in user behavior, but rather acknowledge a basic principle of marketing that’s existed as long as business itself.
That is, people want what they can’t have or what they think will soon be unavailable.
This same phenomenon explains why people flock to the pump during a fuel shortage.
Understanding the psychology of scarcity can help you keep users in your funnel and ultimately boost conversions at the end of the day.
Some marketers are pensive about scarcity marketing because it’s akin to fear marketing (in other words, exploiting one’s fears or insecurities to sell a product).
While fear is indeed a potentially powerful tool in marketing a product, it can likewise drive potential buyers away (fear is fear, after all).
Plenty of perfectly reputable brands use scarcity marketing on a regular basis and achieve their sense of scarcity by offering up…
– Products that have a limited run of copies (50 or 100, for example), representing a truly one-of-a-kind offer
– Awareness of whether or not a product is still in stock and a display of exactly how many are left (in other words, purchase while supplies last)
– Special edition products that offer something truly unique, available to only a select number of users
Bear in mind that these offers don’t necessarily have to be physical products, as something like an ebook or software suite could also be pushed using such marketing.
As long as you’re providing value to your users, scarcity can be a powerful tool.
#2 “Building Urgency in Your Buyers”
For our second strategy regarding user psychology, we’ll focus on building a sense of urgency.
Scarcity marketing relies on creating the notion that the amount of product is limited to the buyer; meanwhile, urgency marketing creates the notion that the amount of time surrounding the deal is limited.
Beyond the offers themselves, The marketing language you use is perhaps equally as important in drawing emotion out of buyers and keeping them engaged in the offer. Urgent language (“act now,” “don’t delay”) combined with a time-sensitive offer (not unlike the offers mentioned in the section above) represent a recipe for success when it comes to conversions.
Perhaps the biggest difference between urgency and scarcity marketing is that urgency relies on time.
Time-sensitivity puts pressure on the buyer, urging them through your funnel but potentially stressing them out at the same time.
The key is not to PUSH to hard, as it may detract the buyer from the deal itself.
#3 “Truly Personalizing Emails”
In 2003, Bill Gates famously referred to spam email as “Worse than irritating,” noting that such emails are “a drain on business productivity, an increasingly costly waste of time and resources that clog corporate networks and distracts workers.”
We couldn’t agree more.
For this very reason, it’s important that every email you send out on behalf of your business, an autoresponder or otherwise, makes a legitimate connection with the receiver.
Personalized emails are the first step in creating relationships with prospective customers rather than treating them as an emotionless, faceless crowd.
Make sure not only to set up an email marketing campaign that reaches those who fall out of your funnel, but also consider how you want to personalize your email marketing efforts
When you take into consideration the fact that personalized emails deliver up to six times the average transaction rate, there’s no reason why such emails shouldn’t be part of your strategy.
Email marketing and a successful sales funnel go hand in hand.
Use your business’ emails to warm leads and bring users back into your funnel rather than push them away.
#4 “Offering A Money Back Guarantee”
Tried, tested and proven. There’s nothing particularly groundbreaking about the concept of the money back guarantee, which has existed for centuries.
Offering such a guarantee truly works in your favor, as it reduces a sense of risk for the buyer and displays your own confidence in your product or service.
When users have fewer opportunities to second-guess or hesitate, they have fewer opportunities to fall out of your funnel.
By eliminating risk and building confidence in your buyers, you also work to set yourself apart from competitors who fail to offer such a guarantee.
Just make sure that you can backup any guarantee you offer, whether it’s no-risk, money back or satisfaction guarantee.
If you can’t deliver on your promises, this strategy may very well blow up in your face.
#5 “Exit Intent Popups”
It’s easy for users to get overwhelmed, especially with so many distractions, bells, and whistles to marvel at on any given page on today’s busy sites.
Instead of such distractions, an exit intent popup is a great tool for redirecting users back into your funnel when they may have otherwise bounced.
Similar to money back guarantees, exit-intent popups work to reassure customers that you’re keeping their best interests at heart.
For example, a popup might appear offering a coupon to a user who attempted to click out of a shopping cart transaction.
The function of the popup is essentially a win-win situation for both the business and the customer.
You get an extra opportunity to redirect the buyer’s attention.
Meanwhile, the buyer gets yet another deal in their pocket.
If you’re interested in crafting such a popup for your sales funnel, There are plenty of customization options available to you.
From copy to design and beyond, there’s plenty to try and test on your users to help keep them in your funnel.
Over time, you’ll figure out what works best when it comes to keeping users on the page.
#6 “SMS Reminders”
It’s no secret that today’s buyers are glued to their mobile devices (Which explains the recent marketing shift toward mobile users).
For this very reason, SMS reminders can be a powerful tool for getting into the pockets (quite literally) of your potential customers.
If you’re worried that SMS is too intrusive to such users, fear not.
Considering that the current smartphone users receives between 35 and 50 texts on average per day, your friendly text won’t be akin to flooding their inbox.
Yet again, as long as you’re trying to offer a legitimate product or service to your users, such tactics are far from spam.
If you need help with marketing online or building intelligent funnels to generate leads, convert sales and create raving fans for your business, we can help.
You can get a book a free roadmapping session with me here where we can explore these strategies in more detail and what they might mean for you
To your success,
Steve Jones — ClickMovements
Also published on Medium.