How to Increase Your Conversion Rate

Generating leads is a critical part of any online business. However, there is something even more important than lead generation.

If you want to master how to increase your conversion rate, then you absolutely must start applying this one thing in your business today.

We often get asked the question… “What is the one thing we need do to master how to increase your conversion rate?”

Our answer…

Follow up and engagement!

Leads are great but buyers are better and I’m going to assume that you’re here to create a profitable business.

Now don’t get me wrong, lead generation is definitely a major component of building your business online.

But you also have to think about what happens afterwards. (leads don’t pay the bills…buyers do)

So if you really want to know how to increase your conversion rates you need to understand that the power is in the follow up.

Meaning, what do you do after someone becomes a lead.

Think about it this way, it’s not about the sale but rather, it’s about the engagement.

Effective follow up is the difference between having a “short term, immediate results” focus vs. an “effective long term strategy” focus.

If you really want to focus on learning how to increase your conversion rate you shouldn’t just focus on selling your leads. Instead you should focus on engaging your leads.

“IF YOU WANT TO KNOW HOW TO INCREASE YOUR CONVERSION RATE, IT STARTS WITH MASTERING THE 5-7 TOUCH RULE.”

The “5-7 Touch” rule.

In sales & marketing a “touch” is just a form of contact and it can come in various different ways.

But here’s why the “5-7 Touch” rule is so important for your to know.

Most prospects will have to be “touched” 5-7 times before they’re ready to make a buying decision.

Rarely will you get a prospect who sees or hears about you or your offer for the very first time and plops down their credit card to make a purchase.

Furthermore, your leads will need to get to know you, like you, and trust you in order to buy from you.

The more you follow up and/or engage your leads, the more chances they will have to get to know you, like you, and trust you.

This is precisely why follow up and engagement is so crucial to your business.

Here are some examples of a “touch”…

• Broadcast email sent to your email list
• A video
• An email follow up sequence (once the person has opted in)
• A blog post
• FB post
• Host a webinar
• Call your lead

As you’re building your email list and wondering “what is the process to engage my leads?”….

Here’s how it works:

• Engage your leads
• Offer a solution
• Engage your leads some more
• Offer a solution
• Engage your leads again…
• Offer more solutions and then engage them some more.

AND THAT IS HOW TO INCREASE CONVERSION RATES!

A conversion is really just a “yes”. The more you can get your leads to say “yes” then the more likely they will become a buyer.

A long term profitable sustainable business will have buyers but more importantly it will have repeat buyers.

HOW DO I CREATE ENGAGEMENT?

Focus on real high stakes problems.

For example… you’re building a home based business online… why did you decide to start it?

Was it so that you could:

• Get out of debt
• Be home with your kids
• Pay off the mortgage
• Pay for a daughter’s wedding or your kid’s college.
• Have more money to go on vacations
• Earn enough to enable your spouse to quit their job

These are all high stakes problems that people have in their lives that they want to change.

I want you to make a list of at least 5-10 high stakes problems that your audience/leads are struggling with.

When you incorporate these high stakes problems into your follow up you’re going to be able to connect with your leads a lot more effectively.

Now that you’ve pinpointed some high stakes problems you need to start educating, guiding and assisting your audience on how they can solve these problems.

Now this doesn’t just mean “Buy my stuff! Buy my stuff!”

(That wont increase your conversions)

In order to master how to increase your conversion rate you’ll want to create content that will help to educate your leads/audience on different ways to solve their high stakes problem.

Then your audience will start to think…

“Oh this person really knows what they’re talking about in regards to things that I struggle with…. I should really pay attention to what they have to say.”

ARE YOU STILL WONDERING WHERE THIS CONTENT COMES FROM OR HOW IT APPLIES HERE?

Well remember earlier when I mentioned the various different ways to “touch” your leads and audience?

The content that you create to help educate and assist your audience on how to solve their high stakes problems will come from those touches.

Again, this content can come in the form of an email follow up sequence, a blog post, a video, a FB status update on your Fan Page, etc.

There are many ways to create this content and various different mediums in which you can communicate it to your audience.

Just remember, your content has to solve a problem and have a purpose. Don’t just create content for the sake of creating content.

So if you’re brand new to marketing or your not yet 100% comfortable or confident enough to create your own content and you’re still wondering…

“How do I do this??”

It’s simple…. you leverage other people’s content and other people’s stories until you feel that you’re experienced enough to create content on your own.

So in conclusion, if you want to know how to increase your conversion rate you have to:

1. Realize that generating a lead is just the first part of the process
2. Consistently engage and follow up with your audience
3. Build up the Know, Like, and Trust factor so that they feel comfortable buying from you.

Once you understand and master these 3 elements of marketing you will be well on your way towards increasing your conversions and building a massively successful business.

– Bill Pescosolido

 

 

Did you get value from this post? If so, please comment below and like & share on Facebook. Research shows that good things happen to people who share this post. 🙂

P.S. – MLSP Co-Founder Brian Fanale was speaking at a marketing event in San Diego a few weekends ago, and he created a 5 minute video sharing his #1 takeaway from a full weekend of ‘advanced traffic strategies.' Check it out here: http://blog.myleadsystempro.com/automate-your-facebook-custom-audiences