My name is Nik in today’s Wildcard Friday, I wanted to focus on a particular tour de force in the online retail world that may help make your reach 99 times broader than it currently is. Sounds like a big claim, right? So let’s start at the number.
If your conversion rate is 1% on your online retail store, you’re in a pretty safe boat. The accepted benchmark for conversion rates is indeed 1%. Of course, it also means that 99 of every targeted 100 visitors to your site is not ready to buy and may never return if you don’t stop them at the door and say, “wait, I have a free gift for you – maybe down the road when you’re ready to be our customer you’ll come back”.
Anything free is a pretty nice offer – in theory that is. What we’re talking about here is a gift that will allow you to communicate frequently with this targeted non-customer over time; a newsletter. Sure, you can assume that this is one of those free things that most people just don’t want, but when this opportunity represents targeting 99 times the visitors to your site versus just targeting past customers, it’s absolutely worth taking the time to explore.
I want to give a real world example for this concept, so throughout this video I’ll use the blog that you’re reading or watching right now: The Source. We launched in on January 11th of this year and along with giving valuable insight to our current clients, it has also been the Source for online marketing knowledge that even our non-customers subscribe to.
—- Help us help you! Please take 3 minutes to complete this confidential survey. —
Back to you. Targeted non-customers who visit your site are often in early stages of the shopping experience. They are either trying to figure out if there is a credible solution to a problem they face, are researching information for their purchase or are trying to evaluate everything they know about a product to make that purchase – but they’re not yet in buying mode; according to benchmarks, that’s 99% of your visitors.
Getting those folks to sign up to a newsletter where you further nurture their understanding of how your products solve their problems, divulge appropriate information and even help them in determining what factors lead to appropriate evaluation of products to make their decision will help you get more non-customer turning into customers.
So that’s the approach to take when speaking to them through newsletters. Of course, newsletters are not the easiest thing to pawn off on people – they often consider them spammy or far too salesy – not even worth the free sticker price. Here’s where you need to be creative and connect even more with these early stages of the consumer behavior process. After all, if you take this seriously and actually deliver on your promise of giving them valuable information, you’ll make more non-customers into customers and your e-mail marketing program will not be anything close to the level of spam that they assumed it would be.
For Exclusive Concepts, when business owners type in informational or problem related searches related to online marketing, they often find our blog. This is the early shopping experience wing of our website. It’s a library of information that we add to daily in order to get in front of those business owners. Similarly, you may find that the early sections of your website, like the homepage, category or sub-category pages have the a lesser tendency to convert visitors than say your product pages; they may represent the early shopping experience wing of your website.
Well, in our early shopping experience wing (our blog) we committed, as the #1 goal, to get those visitors to sign up to a newsletter and we’ve persistently made improvements to usability, messaging and motivational factors that have helped improve that sign-up rate. If you’re watching this video on our blog at exclusiveconcepts.com/blog, you’ll notice a green sign-up bar at the bottom of the screen. Recently we made a few changes that included this bar – increasing the new visitor conversion rate for sign-ups from .46% to 2.28%; a 395% increase.
With efforts like these on your site, you can get that much closer to increasing your reach by up to 99 times as well. Make it a goal to start building your database on targeted non-customers and use a robust e-mail marketing program to turn them into customers over time.
Hey, if we can do this so well for our company, you’ve got to wonder what we could do for yours. We offer both Optimized LifeCycle E-Mail Marketing and Scientific Conversion Testing as services for online business owners.