In order to run a successful business, you must have an unyielding marketing strategy. At the end of the day, your marketing efforts need to be converting to customers and profits. If your ROI is not cutting it, and your customer base isn't expanding, your marketing efforts are not where they need to be. The money and effort that you're pouring into your marketing campaign are absolutely futile if you aren't seeing a real monetary return. How do you increase customer conversion with your marketing strategy?
1. Market to Your Existing and Past Customer Base
The customers who have purchased from you in the past should be given a heightened focus in your marketing platform. You must work on building sustainable relationships with your customers. If they're pleased with their first purchase, getting them to buy again is astronomically easier. In fact, Inc. reports that the most predictable source of new revenue comes from loyal customers, and past customers actually spend 67 percent more than a new ones (Tweet This!). It is essential that you devote a portion of your marketing budget and efforts towards past and current customers. Call, send emails, send direct mail pieces that mention previous purchases, and remind them to buy again. Tweet This Marketing Secret
2. Always Measure Your Metrics
Any and every marketing strategy must be tracked. You need to know what your target demographic is responding to or not responding to. If you're running a new ad, make sure you know how it's converting. For instance, track the number of calls you get after your ad airs. If you're devoting time to social media, it is imperative that you have a solid way to measure conversion. You should be looking at how many people are clicking your links, and how many of those converted to paying customers. Also, watch your engagement. You can use an interface like Hootsuite to manage and track your metrics on social media. If you're employing email marketing, see how many undeliverables, responses, and "unsubscribes" you're getting. Split test your email, website, and all of your marketing materials. Check out Group-Metrics to track your email campaigns. Tweet This Marketing Secret
3. Polish your Website's Sales Page
Your sales page needs to be succinct, targeted, and written to convert. If your marketing efforts guide people to your website, you need to know that they will convert to actual paying customers. The copy on your webpage must entice and compel people to buy. Use images and buzzwords; the objective is to key into your target demographics' emotions. You need to keep things concise and straightforward, while remaining personal and credible. Look at Bounce and Basecamp for great examples of concise and targeted landing pages. You could even create up 2 or 3 different sales pages, then split-test them to see which page is converting more visitors to paying customers. Tweet This Marketing Secret
4. Close in On Your Target Demographic
Countless businesses struggle because they try to over-expand their reach. Of course, you want as many paying customers as possible, but targeting people who would never purchase from you or utilize your services is a misuse of time and resources. Decide who your intended customer is and market to them exclusively. Build your marketing material around what your ideal client would respond to. For instance, if you are a mortgage broker in Los Angeles, initially target people in Los Angeles, then break it down even further. Target married couples over 35 who have children and credit scores over 650. Then, ask yourself what style of marketing materials would appeal to that group. You wouldn't advertise to them the same way you would unemployed, 20-year-old, college students. Decide on your target demographic and market to that customer base. Tweet This Marketing Secret
Remember that marketing is not a one-size-fits-all arrangement. What excels for your competition may not excel for you. If you target your past customers, close in on a succinct demographic, create a killer sales page, and carefully measure your metrics, your customer conversion with soar through the roof.
Rachel Africh CMO of RefiMortageLead.com is an expert on targeted marketing tactics and generating quality customer leads that convert into sales for mortgage industry professionals
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