CONVERSION OPTIMISATION
Unlocking the Potential of Sales Conversion
Reach vs Efficiency?
The pursuit of growth often revolves around two fundamental approaches: expanding reach or enhancing efficiency.
Consider this scenario:
You currently engage with 1000 customers monthly, resulting in 10 purchases. Doubling your sales could mean either investing more to reach 2000 customers per month or improving your conversion rate to make your sales funnel more efficient.
While investing more to reach a larger audience can yield immediate gains, these benefits tend to stop once the investment ends. On the other hand, optimizing your conversion rate offers lasting, long-term impact. By refining your sales funnel’s efficiency, you not only increase immediate sales but also set the stage for continued growth without the need for constant investment.
❝ 1% increase in sales conversion, is equal to a 10% increase in customers.❞
Digital Assets
In terms of efficiency, digital assets have the advantage of being easily adaptable and updateable, allowing for quick iterations and optimizations based on performance data.
Changes can be implemented swiftly and cost-effectively, enabling marketers to fine-tune their strategies and maximize results in real time. Additionally, digital assets offer greater flexibility in A/B testing, audience segmentation, and automated workflows, further enhancing their efficiency in driving sales conversions.
Printed Assets
Unlike most digital assets, where updates can be made swiftly and at minimal cost, revisions to printed materials can be prohibitively expensive. As a result, the development process for printed collateral undergoes rigorous scrutiny, with an imperative to get it right the first time.
Because of this most businesses depend on experienced professionals like Hue Marketing to ensure that every element—from design to messaging, is meticulously crafted to resonate with the target audience and drive tangible results.
Investing in high-quality collateral greatly increases your success in capturing attention, fostering engagement, and ultimately driving sales conversions, making it a more prudent and effective choice in the long run.
Marketing Funnel. Why you need one.
Marketing Funnels ensure you have the foundations in place help your customers buy from you.
A very simplified example. Imagine if 100% of your potential customers asked the same question before they purchase. Instead of having a sales representative answer the same question repeatedly, you decide to include the answer on your website or brochure, maybe even make an article about it. By helping your customers you build trust, and credibility and free up your sales team to sell more.
While there’s no universally accepted version of the funnel, we’ve outlined a simple five-stage funnel that we like to use; Awareness, Consideration, Decision, Purchase, and Loyalty.
Although the customer journey can be complex, the simplified concept of using a marketing funnel is an essential first step in creating a strong foundation of digital and printed marketing collateral to help customers through each stage of their buying journey.
Sales vs Marketing Funnel
Although they seem similar they have very different uses.
Sales funnels are a targeted version of your marketing funnel, used to promote a specific product or service. Unlike general marketing funnels, sales funnels are streamlined and direct customers to only the most relevant information. They help you identify and target potential customers who are interested in your product or service, and motivate them to make a purchase.
Sales funnels are dynamic and can be easily adapted to changing market needs. By making controlled changes to your sales funnel, such as using different advertising platforms like Google Ads or Facebook Ads, you can identify which approach works best for your business. This allows you to optimize your sales funnel and maximize your sales potential.
COST vs REWARD
Having a solid marketing funnel in place should be central to your marketing strategy as it gives extra control over your Return On Investment (ROI). If you want to stay in business you’ll need to earn more money than you spend. Basic Business 101 right?
In order to make the most of your time and money, it’s important to monitor your customers’ progress throughout the sales process. If you’re unable to convert leads into sales, then investing your entire budget in advertising won’t be worthwhile. Instead, try to figure out why potential customers are not making a purchase. By identifying the biggest obstacle and addressing it, you can improve your conversion rates. Make sure to repeat this process as necessary to continue improving your sales.
It’s a continuous process to develop and maintain your funnels but the rewards are huge. Even if your business or service doesn’t change, the competitive landscape and your customers will.
Marketing Investments
Investing in high-quality collateral may require a larger upfront investment, but it can greatly enhance your brand value and generate trust and credibility with your customers. Opting for cheaper options may seem like a cost-effective solution, but it can backfire and harm your brand’s reputation. In short, investing in your brand’s integrity is a wise decision, as it can yield positive results in the long run.
PRO TIP:
CUSTOMER JOURNEY MAPPING
An exercise we like to do with clients is identify how most customers move through their business. Where and how they start, what information are they looking on their way to make a purchase? You can even take it a stage further and map out the journey for repeat customers.
Mapping your customer process doesn’t require any fancy software. Just start with pencil and paper and make a simple flow diagram.
How this helps:
- View your business through a customers eyes.
- Identify weak points or opportunities in your sales process.
- Get ideas for new content to help customers along the way.
- You can discover new target customer base.
MORE ways to boost your business…
Find More Customers
Reaching new customers has never been easier or more affordable.
Be More Competitive
Most visitors already intend to buy. But why should they buy from you?
Be More Profitable
Make better marketing decisions to reduce costs and boosts profit.
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