Creating an Irresistible Offer to Boost Conversion
So, you've got sufficient website traffic, a low bounce-rate and have packaged a tempting and generous offer to bring your prospective customers over the line. Brilliant! But what's concerning is the low uptake of your core offering. Why are your customers so ambivalent about such a fantastic deal?
Sales guru Zig Ziglar once said that there are a mere 4 reasons why people won't buy from you. These are:
- No money
- No need
- Not in a hurry
- No trust
We'll explore some of these issues here:
An Offer Should Create a Sense of Urgency
In such a fast-paced world, increasing numbers of visitors are interested in instant reward. And by giving them what they want, you will see a correlative growth in conversion. For example, a 30% discount on a membership is a compelling offer. But making it time-limited and available to only a select few customers will attract extra interest. This is known as 'Reactance Theory' - the psychology of wanting something more once the freedom to have it is perceived to be limited.
When formulating your offer, a greater sense of urgency is created when an expiry date and time is specified. So, instead of using a cliché like 'Act Fast While Stocks Last', you might use 'Offer Ends Midnight 24th December' or 'Act Fast, 594 Sold, Only 6 Remaining'. Specify is key here. But what's also crucial is that customers receive their incentives immediately.
If you're giving away a free retail voucher when a customer spends more than x number of dollars, they'll need to know they'll receive this within an hour (or even a minute) of purchase, straight to their inbox, and will have the ability to spend it straight away.
Dull Headline? Don't Even Bother
Business leader David Ogilvy once said: "On average, five times as many people read the headline as read the body copy. It follows that, if you don't sell the product in your headline, you have wasted 80% of your money".
He was right. You could have the most amazing offer in your space, putting you miles ahead of your competition, yet a dull headline will deter leads and keep conversion rates low. Your headline should be clear, empathic and relevant, never relying on clickbait by deliberately holding back information. It should also give the reader an incentive to read on.
For example, the headline 'Shrink Your Middle: Lose 10 Lbs in 10 Days' gives the reader a very good reason to feel intrigued and is supported by a measurable, achievable and desirable outcome. For extra headline inspiration, just look at the checkout of any major supermarket. Ordinarily, these are lined with magazines that have stand-out, attention-grabbing headlines to trigger a last-minute impulse-purchases.
The Power of Customization
Customers like to feel special, that has always been the case. And these days, technology makes it easier for any brand to offer a customized product or service. When surveyed, one in three customers stated they're interested in trying a customized product. And large brands are already clued-in to the power of this trend. For example, food giant Whole Foods is very good at interacting with customers in a personable way via the downloadable app.
Their app gives users customized recipes and exclusive offers, as well as healthy cooking tips suited to the dietary needs and preferences of the user. By crafting your offer to speak to the individual, you'll be guaranteed to increase your conversion rate.
While customers like to feel like individuals, they also take comfort in knowing they're not going to be your only customer. Having a tally of how many customers have purchased a product can encourage prospects to step over the line. This strategy is as old as time - just watch the shopping channels and note how presenters emphasize how many calls they're receiving about the products they're promoting.
This technique has always worked but needs to be crafted for your audience. Embedding a widget into your site to pull and promote real-time sales figures (e.g. "Bobby from New York bought 2 units 5 minutes ago") or even pushing positive social media testimonials to your landing page will convince visitors that it's safe to purchase.
Target Your Ideal Customer
Finally, your offer, no matter how tempting, isn't going to be any good if you are attracting the wrong sort of traffic. It is therefore imperative that you conduct relevant market research and re-examine your marketing processes to ensure your customer avatar is spot on and you're selling the right product to the right person.
To increase conversion rates, your offering must overcome the common objections that deter visitors from becoming customers. That means knowing your customer well, tailoring an offer that speaks to them as individuals, and social proofing your landing page to promote trust and persuade your prospect to part with their hard-earned cash to become a new customer.