Despite the seemingly endless influx of blog posts telling us that paid ads are the way forward, there’s much more to successful marketing than learning how to perfect your return on investment and cost-per-click with online ads.
This isn’t to say that paid advertising doesn’t work of course, and typically it should be incorporated into most marketing budgets, but there’s much more to successful marketing than this.
I want you to think of the analogy ‘You can lead a horse to the water, but you can’t make it drink’ – then apply that logic to marketing.
You can generate engagement, website traffic and leads via paid digital advertising, but this doesn’t necessarily make that visitor a buyer. In fact, typically only 2% of first time visitors covert into sales!
The key to successful marketing is mastering how you convert your leads into sales. For most professional marketers, understanding the psychology of what makes us buy is how they approach lead conversion.
We’ve outlined five sneaky tactics that marketers use to convert leads into sales.
Have you noticed any of these when you’ve been shopping online? Did they work?
1. The pop up when you scroll off the web page
Have you ever been in the middle of online shopping on a website and then decided to change your mind and type something new into the search bar, then as you scroll to the top of the page you see a pop-up appear telling you that you still have items in your basket?
This is a clever tactic used in digital marketing, and it’s been proven to convert a high number of leads into sales. The website can sense that you’re scrolling off the page, so it reminds you about items in your basket or that a sale/offer is due to end shortly. This creates a sense of urgency for the buyer.
It’s not just ecommerce stores that use pop-ups, recruitment agencies, marketing agencies and many other service providers also use pop-ups to deliver a key message to web visitors and increase their buy-in.
This tactic is growing in popularity as more and more businesses start to see its value.
Re-targeting is about bringing previous customers or previous website visitors back to your website and moving them forward in the sales journey.
Retargeting tags online users by including a pixel within the target webpage or email, which sets a cookie in the user’s browser. Once the cookie is set, the advertiser is able to show display ads to that user elsewhere on the internet via an ad exchange.
Retargeting is so effective because it focuses your advertising spend on people who are already familiar with your brand and have recently demonstrated interest.
Blogging is a form of content marketing and a firm favourite with successful marketing professionals. Written content makes use of keywords and can drive traffic to your website by increasing your chances of appearing in your target audiences search engine results.
Blogging is a great way to convert leads into sales; it gives free professional advice on the subject matter, and by doing so, it builds confidence and trust in your brand.
4. Use powerful anecdotes
Research shows that stories, anecdotes and metaphors are more memorable than data.
Story-telling is an extremely powerful tool in marketing and doesn’t only convert leads into sales, but into life-long customers.
A great example of this is ‘Dove’ – Their advertising campaign focuses on ‘real beauty’ and women of all types, through this they continually tell stories through their advertisements and because of this they’re seen as an advocate for self-love, rather than simply a soap company.
Use stories to connect with your audience.
5. Loss aversion
Loss aversion is based on the idea that shoppers feel good when they gain something, but also bad when they lose something.
Loss aversion, simply put, calls for averting the loss of something we own; this exact psychological understanding is why companies offer free trials.
A 1990 study conducted by Nobel-winning psychologist and behavioural economist Daniel Kahneman and his colleagues found that people are more likely to act when they have something to lose, as opposed to when they gain the same thing.
Loss aversion can be a powerful conversion-driver for your brand. The key is to avoid inciting fear: instead, offer users constructive information. Guide them through their decision process and provide a compelling reason for them to act.
We’re all consumers as well as entrepreneurs, so even with this knowledge of the tricks advertisers use, we’ll likely still find it hard to resist being influenced by our own subconscious. The point, though, is to be aware: The next time you stroll through a grocery store or shop online, pay attention to the tricks that “get” you. Then try to replicate some of them in your own business.