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4. CONVERSION

Conversion generally means executing the process of changing the current situation to the desired situation.

In terms of marketing, Conversion is about taking an opportunity for business from one stage of involvement with your service to a higher stage of involvement.

The full customer lifecycle passes through various conversion funnels:

  • Lead generation (front-end marketing)
  • Customer acquisition (front-end marketing)
  • Customer retention (back-end marketing)
  • Customer value (back-end marketing)

As a direct response marketer, I must approach marketing from the point of view that before you can see customers as numbers and data, you must first see them as humans: people with feelings.

Those feelings are in essence:

  1. Seeking pleasures, and
  2. Avoiding pains.

The marketing numbers must evolve naturally out of dealing with those pleasures and pains. Marketing targets must be true to the dynamics inherent in the marketing funnel.

David Maister has a great way of categorising 5 main areas of marketing activity in a human sense:

  1. Broadcasting – lead generation including seminars, articles, newsletters, etc in the hope to generate enquiries
  2. Courting – engaging with a single, specific prospect on a particular targeted deal-making process
  3. Superpleasing – existing clients on existing matters to make them delighted
  4. Nurturing – bringing extended service opportunities to existing clients
  5. Listening – otherwise known as gathering market intelligence

By conducting the various aspects of Research you will have a very good idea of your prospect. And now we are at the point of communicating with our target audience about the value of our offer.

Beliefs, Frustrations and Desires

Your prospects beliefs, frustration and desires must be considered when creating your marketing funnel.

  • Don’t try to sell something until you know how to emotionally involve the prospect.
  • Don’t have copy written until you have identified the objective of this piece of copy in moving the prospect one step closer to being involved with your product by exchanging their time and money for the benefits of what your product offers.
  • Don’t make the mistake of trying to entertain your prospects with fancy graphic work, cute slogans, or humurous adverts.

Key Question to ask: What are the inherent emotions involved between what your product does, and what your prospect is experiencing in their life that makes them a suitable candidate for your product?

Then make the first step easy for the prospect.

If you are marketing online, your costs are cheaper, and you can create a multi-step sales process that has a higher overall conversion rate, than trying a 1-step sales process that makes your offer immediately, and loses the prospect if they don’t immediately buy.

Acquisition and Retention Model

Here is a simplified model of online traffic generation and conversion for acquisition and retention.

Your Prospects Journey
Through Your Marketing Campaign…

His final destination?

Your order form.

But not before a few stop-offs along the way…

The Marketing Funnel

First, something grabs his attention with an optimal mix of creative and copy, stirring an interest or problem simmering somewhere in his awareness.

 

Your advert compels him to action.

The diagram shows his journey through an online model of lead generation, acquisition, and retention.

He comes from 4 general traffic sources online, or various possibilities offline…

Your prospect visits a landing page that matches and expands on the advert which brought him here…

Further into your marketing funnel he goes, through information and links which tap his interest ever deeper, until he reaches that crucial decision point:

  • Perhaps he buys, thus you capture his details for back-end retention.
  • Or perhaps he does not buy, so you capture his data by offering an incentivised offer in exchange for his details for further front-end acquisition marketing via email or phone.

This model does not say…

  1. Advertise your product to anyone that will listen.
  2. Squeeze your marketing team to meet your targets.
  3. Drain your database as fast as possible by blatant sales pitches without bonding with and educating your prospects.

No, the model diagrammed above says:

  1. Create value for your target audience by offering openly available content.
  2. Involve them by a special offer for even more valuable and prized information that will help them with their wants and needs, in exchange for their contact information.
  3. Offer them more valuable information including segmented sales offers until they buy.

How can this simplified strategy be planned and managed? We can achieve this in various ways by evolving our Front-End Acquisition and Back-End Retention plans by answering…

…Your Prospects 3 Questions

There are 3 far-reaching questions your prospect must have answered before they will buy.

  1. Is it desireable?
  2. Is it credibile?
  3. Is it worth the risk?

Copywriting – The Heart of Marketing

Visit the Copywriting page for the full process of exactly what you need to cover to answer those 3 crucial questions in any and every marketing campaign you run.

Dig Further Into The Business Development Matrix

Database Management: Your database is the most valuable physical asset of your company. Check out pages for Lead Generation Opt-in Pages and Email Marketing for how to build and use your database.

Or continue onwards to the Traffic Generation section of the Matrix.

Stay tuned…
…to the most important updates on genrating demand in the experience economy as it’s published. 


Stay tuned to the most important updates on generating demand in the experience economy as it is published.
 
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Based on your Preparation and Research you move into Development. The Marketing Matrix recognises these broad areas for Development. Click ...