Converting Leads Into Customers
Once you have leads or prospects for your business, the next question is… How are you going to convert these people into customers? A prospect is someone that looks at your product or offer. Customers are people that buy from you. So, what are you going to do and say to your prospects that will convert them into customers? In other words… What is your conversion strategy?
Let me give you an example of what I’m talking about here. Imagine you own a retail store. You have lots of customers coming into your shop attracted by your advertising (lead generation strategy). Your conversion strategy is to greet them when they walk in off the street with, “Can I help you?“.
After a while, you discover that nearly all prospects respond to this strategy with, “No thanks. I’m just looking around.” Don’t laugh! Half the retailers in the world haven’t worked this out yet!
When you measure how effective this strategy is, you find that only 10 out of 100 prospects buy something from you. So you decide to change what you’re doing.
Instead of asking, “Can I help you?“, you ask, “Have you been in this store before?” If the answer is “No” you get to show them around the shop. If the answer is “Yes” you say, “I thought I recognised you!” and continue with “would you like me to show you what’s new or would you like to look at something in particular?”
This time, when you measure the result of your strategy, you find that instead of 10 people in every 100 buying, 16 in every 100 are buying. That’s a 60% increase in your conversion!
This example emphasizes that what you say to your prospects can have a significant affect on your business AND that means a significant affect on your profits! So, how do you start building a conversion strategy for your business?
When you go to the page Marketing System you’ll learn the basics of setting up an on-line conversion strategy. Let’s look at one of the essential ingredients for conversion in Network Marketing.
On the page Network Marketing we highlighted that your success depends on your ability to turn BUYERS into SELLERS. We also pointed out that the only way you can do this is to start from “What can I do that will help this person in my business succeed?” It makes sense, therefore, to develop your conversion strategy based on this premise.
What you say should reflect a genuine interest in helping your prospects. This might be as simple as pointing them to this site to get a better idea of succeeding their Interned business OR how about giving them some of your hard earned knowledge based on your experience in business. Contribute, contribute contribute in all that you say and watch your business become stable and profitable. That brings us to “The Law of Momentum“…
The Law of Momentum says that, whenever you start a new business venture, it takes ten units of effort to get one unit of result. However, as you continue your efforts, you will gain momentum. When you have momentum, it takes just one unit of effort to achieve ten units of results. Nowhere is this truer than in Network Marketing.
So, as you begin your conversion strategy based on helping others, you may find the early results disheartening. If this happens to you, remember the Law of Momentum. Stay with it. Keep giving. You will succeed!