We’ve all been there. Walking through the grocery store and come across a product that promises to do this, that, and the other thing. Sometimes we believe the value of the product is worth the price tag, but more often than not, we just keep walking by. Why? Because we aren’t fully convinced that its worth it.
As business owners, what do we do? We can advertise anywhere we want, but until we find a way to push a person into committing a purchase, we are just treading water. That’s why I put together 5 techniques to do just that!
1. Up the Ante
The infamous “too good to resist” deal. These deals bring in the most sales because a potential customer easily can see how much of a steal this is. Think about all the times you came across a product that you could justify buying if only there was just a little more to sweeten the pot. That list of “almost sales” builds quickly and that is a lot of lost revenue.
Best way to do this is to add something extra to the deal. For example, if you’re selling shoes in your store, why not throw in a pair of socks as an extra bonus? This is a lot more effective than simply lowering the price of the product because the customer can physically see that they are getting more, making it a great deal!
Say you got the attention of a customer who is considering the new and improved product. Last thing you want them to do is talk themselves out of it! That’s why its important to put a time limit on the deal. Make the bonus pair of socks with a purchase of shoes end at the end of the week. The more time a customer has to consider a deal, the easier it is for them to walk away. It may be aggressive, but its effective.
2. Follow Up
Research shows that on average, a purchase is made on the third or fourth encounter with your business. Are you following up with your target audience even on those third and fourth encounters? Having a strong follow up campaign can make the difference between a struggling business to a prosperous one.
One of the easiest ways to do this is to send a new offer every month either by mail or email. This helps the “almost customer” remember you the next time they’re out shopping. This builds trust and brand loyalty which helps the customer continuously count on you for their needs!
All you have to do is find a way to collect the information from your target audience. An amazing digital strategy is to offer up a free ebook or small product/service for simply subscribing to your email newsletter. Not only does the customer paint a more generous and friendly picture of your brand, but you can use the information gathered to build a strong and effective campaign!
I personally use MailChimp as my Customer Relationship Manager (CRM). They have great pricing, and offer a free plan for both business and individuals!
Need help setting up an effective email campaign?
3. Buying, Not Selling
There are two types of salespeople. Those that push customers to the point of not buying anything. We all know the type, but unfortunately that is the most common “technique.”
The second type however, is one that helps the customer find the best product for them and doesn’t push. We need to focus on buying, not selling.
What does this mean?
Most likely, when you have a customer visit your store or website, they already have a product in mind they want to purchase. You don’t have to persuade them to buy anything because that is already on their mind.
Instead of forcing an unrelated product on the consumer, help them find the best product for them. Talk with them and gather information like budget, interests, and needs to find what works for them.
You do this correctly and you’ll watch the customer walk out with a new purchase.
4. Guaranteeing a Purchase
Back to the point of determining if a product or service is worth it. Especially when we are talking about expensive purchases.
With countless scams in the world, you can end up losing money on purchases you regret. You have to keep your eyes peeled for legitimate products and services. We need brands that we can trust.
Welcome to the world of money back guarantees. Guaranteeing a refund of a product to a customer helps alleviate anxiety about the purchase and they are a lot more likely to buy the product or service.
Not only does this tell the customer that they could request a full refund if the purchase isn’t what they expected, but it shows a business’s confidence in their product.
Another cure for purchase anxiety are customer testimonials and reviews. Who else would know better than fellow consumers? These reviews and testimonials paint a honest idea of what the product is and if it’s right for you. Cherry pick clear and specific testimonials and try to gather as much information on the customer in order for your target audience to see the credibility of the testimonial.
We live in a stressful, fast-paced society. People are running errands while working and sometimes going to school. Most consumers don’t have the luxury of time and its critically important we as business owners understand.
A lot of the time, customers just want to make a purchase and head home. Convenience stores monetized this behavior and can testify that people will justify a more expensive product in order to checkout quickly and easy.
A business which a slow and cumbersome checkout process lose out on a lot of revenue because people just don’t have the time to wait. Each consumer is different. Some like to shop online, while others like to go to a physical store. The more options you can supply, the more customers will be happy.
Make sure to point out how quick and easy a product is in your marketing campaign and highlight benefits clearly.
Knowing your target audience and their needs and wants makes it incredibly easy to increase revenue. Keep these techniques in mind when making any business decisions and watch as your customer list explodes!
Have any other tips and tricks that help customer conversion? Let me know in the comments below! Don’t forget to share and thanks for reading!