Making lots of money with conversion rates
Making it easier for a customer to make a buying decision…
Many sales courses focus on how to get more customers or in “learned” language, how to generate more leads. Just keep in mind that a customer only becomes one after he bought something. It is therefore important to optimise your sales process – lower the barrier to entry for your customers and make the process of purchasing easy on the customer.
Today I want to help our business owners with a few basic tips and some ideas to assist you in turning a lead into a customer and increasing your conversion rate and to make more money with your business. Continuously working on improving the conversion rate in my companies is one of the reasons for my success.
One way to do this is by reversing the risk. If a buyer and seller are brought together (the buyer wants something that the seller is offering), it is generally the buyer who is asked to take all the risk. You can turn this around by ensuring that guarantee, warranty or exchange policies are customer-focused and make it easier for the customer to make a purchasing decision.
A retailer of imported Italian footwear could run a promotion where the customer purchasing footwear within a specific range may qualify for a discounted or even free matching handbag.
An optician could run a promotion where he offers a free eye test and then promote a range of designer frames if the customer requires spectacles.
The hairdressing salon could bundle shampoo and conditioner products or even offer a free treatment with every colour done.
A software or internet site developer could offer to design a client’s website and include several hours for updates or changes during the first year that the site is operational. Alternatively, he could develop the internet site, bundle this with several hours of updates/changes for the year but instead of charging a once-off price upfront, he could charge the customer a monthly fee and sign the customer up for a two-year period.
A builder may decide to state in his contract that he will come back to the property and conduct a snag inspection at the end of the first three months after completion and then may decide to undertake .........................
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