By this point, you’re probably excited to see how your digital marketing strategy can start you more business online. After all, you’ve laid the groundwork by developing quality content and tapping into the channels where your market is. But if you’re thinking that these steps will instantly start converting digital traffic into sales and money – think again.
Your digital strategy is not complete without one final step: A sizable database of qualified leads and ready-to-buy prospects.
Once set up, your database will be one of the most important assets you’ll have to ramp up your sales and profit. You must set up before we can begin thinking dollar signs.
Up until now, we’ve discussed the importance of not only being where your audience is to drive traffic to your website or landing page, but also keeping them engaged through delivering quality content. While it’s effective in establishing your presence in the digital space, traffic will often come and go, and may not engage with you again once they leave.
In other words, traffic is cold.
Instead, consider traffic who opt-in to your business because of an enticing content offering. Those who sign up and willingly provide you with their contact details are considered warm prospects. As the name goes, they’ve shown a higher level of engagement – and these are the guys that we want to continue talking with.
So while getting the traffic to your website or landing page is a start, our ultimate goal is to warm them up, and transform them into potential, want-to-be buyers.
How do we warm up potential buyers? For one, let’s start with getting to know them. You begin with getting to know details, like their name and email. Although, it can be a difficult ask of someone (not to mention a stranger!) to provide their personal details, especially if you’re not prepared to give them something in return first.
Be prepared to invest your time, money and energy, especially in the initial stages of your campaign, to create something your target market will find valuable. The most enticing content offerings recognise the needs of your customers and solves their pain points, no matter if it’s delivered through a webinar, a series of emails or a comprehensive cheat sheet.
Think beyond just free content. A free product sample, free trial, or 50% off can often work better from a conversion point of view. It not only provides your customers with an incentive to sign up, but also lets them try your product or service without any risk.
Some of you might want to hold off on sharing your tips and insights with your audience – and if this is your mindset, don’t expect many sign ups. In fact, business coach Wez Hone sums this up best (from 4:58). Remember: if you focus on providing true value for your readers (even if it’s free) you can expect them to grow to trust your business more.
You will be out of pocket in the initial stages of creating your content offering. However, if you have a mentality where you’re willing to spend to get customers, then you’re on the right track to building a qualified database.
Here’s the million-dollar question: ‘How do I even start making money after all this effort in “building a relationship” with my prospects? Is this even going to work?’
Like any relationship, strong bonds form through both time and effort. With friends or family for example, you make the effort to call or catch up. It’s the same for your prospects. Once they’re in your database, it’s about continual contact and relationship nurturing. Thankfully, the powers of social media have made this easy, equipping you with the ability to continue talking to every one of your prospects. This is the Art of Facebook Retargeting.
Here’s how you do it:
A great way to execute this strategy is to install Facebook Pixel, which enables you to track your audience’s behaviours and movements through your content. Whether they click on your ad, browse through your FAQs, or already on the purchase page of your website, you’ll be able to follow every step.
Collect their email addresses into your database and over time send more relevant value to their inbox. You’ll know exactly what stage of the buyer cycle each particular prospect is in, allowing you to deliver appropriate content to their needs. It could be a gift voucher to seal the deal, a free sample/ trial for the more hesitant, or further information to learn about the product for those still new to your business.
It’s the famous concept of “Jab Jab Right Hook” from Gary Vaynerchuk.
Now that we’re well-versed in nurturing those relationships, your database should be churning with prospects who have given you a strong indication of engagement and interest. You would’ve further strengthened their commitment to you by providing them with value to engage more. If you’ve taken these steps, then we’re ready to transform a warm prospect to a happy buyer.
Here’s what you can expect. By nurturing your prospects and strengthening your bond, they’ve come to at least trust your business, and are more open to what you deliver them. This is the best time to take the relationship once step further: Go in for the sale.
Ask them if they’re open for a person-to-person consultation, a workshop, a phone call, or simply send them a sales letter to buy. With warmer prospects, they’re more receptive to receiving your message and accepting it. And you can probably guess, this ‘big ask’ would be wasted on new visitors to your website.
At the beginning, you can expect an email open rate of 1-2%. But as you begin to ramp up and refine your digital marketing strategy, you can aim for an open rate of 15-20% or more. Remember, it’s a numbers game: the more prospects you have in your database, the more opportunity in nurturing and thus converting them into sales. All you need to do is focus on providing value for your prospects, and the rest is easy.
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