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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.
Basic Sales Funnel
Everyone who finds you isn’t ready to buy right away. Does your business cater to all three stages of the buying process?
Don’t think of a sale as a single decision to buy. It’s a journey that has a beginning, middle and end, sometimes taking weeks or months to complete depending on the complexity or value of the purchase.
Everyone who finds your business won’t always be ready to buy there and then – that’s perfectly normal. Incorporating soft and hard leads into your sales strategy means you can focus your efforts on the customers who are ready to buy without ignoring or alienating those who are still gathering information.
Take a look at the simplified Sales Funnel below and see some examples of the type of marketing tactics that help customers at different stages of their buying process.
COST vs REWARD
Having a solid sales 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?
By tracking customers throughout the sales process you’ll know where you’re best investing your time and money. There’s no point spending your entire budget on advertising if you can’t convert leads into sales. The question to ask is why they aren’t buying? Identify the biggest hurdle and address it. Rinse and repeat.
It’s a continuous challenge to develop and maintain your sales funnel but the rewards are huge. Even if your business or service doesn’t change, the competitive landscape and your customers will.
Print Budgets
While the upfront investment for high-quality collateral may be higher, its ability to convey professionalism, credibility, and brand value far outweighs the cost. In essence, opting for cheaper options proves to be a false economy, as it fails to generate the desired response and may even detract from the brand image.
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.
Follow a manual added link
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Affordable ways to grow your Phuket business. Website design to billboards and brochures. Tailor made marketing solutions to beat your competition.
