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You are here: Home / Archives for conversion rates

conversion rates

Psychology-Backed Marketing Tips that can Skyrocket Your Conversion Rate

Craig De Borba

 

Psychology Backed Marketing Tips

When you have truckloads of psychology-backed marketing tips in your conversion rate optimization bag o’ tricks, you’ll find that increasing your website’s conversion rate can be like biking downhill. It’s painless.

Sure. The increase in your conversion rates might not always be astronomical; however, you’ll find that most of the marketing strategies you’ll run — if they are psychology-backed — will, in most cases, yield positive results.

If you’ve been struggling with your website’s conversion rate, and are quite unsure of how to solve your problem, allow me to share with you these psychology-backed strategic marketing tips.

Note – The tips I’ll be sharing with you are tried and tested to yield positive results. These aren’t just experimental ideas that I came up with just now. A good number of marketers and business owners are using them and are reaping good results out of the strategies.

That being said, be sure to take the time to apply the things that you’ll learn from this post. Remember that simply reading and learning will get you nowhere. If you truly want to improve your website’s conversion rate, then you need to take action. And you need to take action now.

1. Increase your product’s’ perceived value.

Out of all the definition that I saw on the web of what perceived value is, no other resource explains it better than Investopedia. Here’s their definition of the term.

“Perceived value is the worth that a product or service has in the mind of the consumer. For the most part, consumers are unaware of the true cost of production for the products they buy; instead, they simply have an internal feeling for how much certain products are worth to them.”

The part where Investopedia mentions, “in the mind of the consumer” is a crucial bit.

If you’re wondering why other online sellers take the time to add ebooks, free training materials, or a free consultation — on top of the actual product that they’re selling — that’s simply because they want to increase their product’s perceived value.

The more items the customers can get from buying your products (whether the additional items are tangible or intangible), the higher your products’ perceived value becomes.

If you head over to the Warrior Forum to view their WSOs (Warrior Special Offers), you’ll see how a lot of sellers are using this strategy (for more about special promotions read Holiday email campaigns).

Psychology Backed Marketing Tips

Here’s another example.

Psychology Backed Marketing Tips

And another one…

Psychology Backed Marketing Tips

While giving away additional items can certainly increase your product’s perceived value, there are other strategies you can use to help you with that end. For one thing, you can add exclusivity to your products. You can also add testimonials, a scarcity element to your offers, or you can improve your product’s aesthetics (among other things).

2. Deal with your customers’ fear of loss.

“The fear of loss is greater than the desire for gain.” – Zig Ziglar

That right there is a timeless lesson about closing a sale that we can learn from Zig Ziglar. It doesn’t matter whether you’re selling your services over the phone, in newspapers, Google listings, or through your website, you need to address this roadblock if you want to improve your conversion rate drastically.

Here’s the thing, every time you pitch your products or services to your customers, they are going to have to make a decision on whether or not they are willing to “lose” their money in exchange for your products.

Since our natural tendencies as humans is to fear loss more than desire gain, it becomes challenging for us sellers to convince the customers to part (or lose) their money, in exchange for gaining something of value to them (our service and products).

And so the question becomes, how do I get over this hurdle?

While there are several ways to answer this question, a popular solution that most marketers and online sellers are using are money-back guarantees.

Psychology Backed Marketing Tips

What makes money-back guarantees so powerful is it keeps your customers from feeling that they are about to “lose” something. After all, if they bought your product and your product managed to deliver value, then they’d feel like winners at that point.

If they feel that they aren’t satisfied with your product’s performance, however, then they can simply request their money back and not suffer any loss from the failed transaction.

(Note – While money-back guarantees are great, be careful with using this strategy since it can lower your product’s perceived value or damage your brand image.)

3. Add an element of scarcity in your pages.

Procrastination. That is one of the many reasons why your web visitors aren’t buying from you.

Your customers might have liked your product. However, if they don’t have any reason to make the purchase immediately, then the chances are they won’t.

They’ll just click away while keeping a mental note of your product and get back to it later once they feel the urgent need for it.

When that happens, you have most likely lost the sale.

Don’t count on them to come back to your site (too much) to buy your product at a later date. With all the distractions online, they will most likely forget about you. Also, with how cutthroat the competition is on the internet, it’s highly likely for them to find your competitors products/services and be influenced by your competitors to buy their products. Because of this, you need to find ways to compel them to buy your products immediately when they are on your product pages.

Of course, adding an element of scarcity to your product pages can help you with just that. Remember that human beings have a strong inclination towards the fear of loss. If you add an element of scarcity, you’re practically telling them that they’re about to lose the opportunity of having your product if they don’t take action now.

Since they fear losing the opportunity of buying your product, then it compels them to take immediate action on your offers.

While there are several ways to add an element of scarcity to your pages, I have found that adding a countdown timer or showing the number of stocks available for your products can do wonders for online sellers.

Here are some samples.

psychology backed marketing tips

Psychology Backed Marketing Tips

Looking at the second screenshot (the one from Amazon), you’d be pretty compelled to buy the laptop immediately if you were thinking of buying it. After all, there’s only one in stock left. If you don’t buy it right then and there, then you might lose the opportunity of having the laptop since others might buy it first.

What’s next?

If you’re looking for a team of trustworthy marketing professionals who can help you with improving your business’ conversion rate, then please reach out to us using this contact form now.

7 Tips For an Effective Call to Action

Craig De Borba

Call-to-action or “CTA” is an instruction to users to prompt an action typically in the form of clicking on a button, calling a number, or watching a video. There are a few key points that are important to keep in mind when creating an effective CTA to get the response you want. Here are 7 tips for your next call-to-action.

 

  1. Effective call-to-action is most successful when the content is directive. Talk directly to the user on the other side of the content by writing in the second person. Using action words such as “create, begin, download, or watch” is far more effective than a generic “click here.”
  2. Without a clear value to the user, a CTA is all but useless. Show value in your call-to-action with a clear, precise message that explains the benefit of clicking. Offering downloads or trials for an email address is a highly effective strategy to compile leads of people who might be interested in purchasing the product in the future.
  3. People are busy and flooded with content online. Once you’re able to capture their attention, it’s imperative that you get them to act immediately, or there’s a very good chance that you’ll never catch their eye again. Use words like “now, immediately, today, or fast” to encourage action.
  4. Now that you have the user’s attention, it’s important to keep your verbiage consistent from the initial CTA, down to the final step. For example, if your initial call-to-action was “Download Your Free Audiobook,” and the user is taken to a landing page where it talks about a “Free Podcast” instead, it can cause confusion and result in a loss of leads. Pay attention to the entire chain of events and be sure that verbiage is consistent.
  5. Call-to-action placement is something that is often overlooked. Placing it above the fold may help drive more clicks, while placing it below will often result in a higher conversion rate. Take advantage of CTA on social media sites like Facebook where you can “pin” a post to the top of the page so users will see it first.
  6. You can’t rely on a small CTA link to get the job done. Sure, the function is the same, but who’s going to see it? Create an exciting, contrasting call-to-action that stands out from the surrounding content and make it big! It also helps to keep the surrounding material clean and organized.
  7. This is what it ultimately comes down to—Never underestimate the power of the button. Small enhancements like making a button look clickable can help drive clicks. Also, be smart about the text on the button itself. Most people’s eyes will go straight to the CTA button. Use a phrase that includes the above tips such as “Download Your FREE Newsletter Now” or “Start Your Trial Today” to capture the essence of the CTA in a few words.

Creating an effective call-to-action is much more than instructing the audience to “click here.” Clearly demonstrating elements of value and urgency can make a huge impact in your site traffic and revenue. Take a look at the CTA’s of reputable brands and see if you notice these key factors!

Have you taken your digital marketing as far as you can on your own and are interested in bringing it up to the next level? OnPoint Internet Marketing could be the best choice for you. Our local SEO strategy is custom for each and every business so you can be sure that you are getting exactly what you need.

How To Figure And Increase Conversion Rates

Craig De Borba

Marketing can be expensive, so it is important to make sure your marketing budget is working effectively. To increase business and profits, converting potential customers into actual customers is crucial. Websites consider conversion rates as the percentage of potential clients who make a specific desired action. Before it’s possible to assess marketing practices and make more money, it’s important to understand how to figure conversion rates and make them grow.

How to Calculate Conversion Rates

Conversion rates refer to the percentage of events leading to another desired event. In the e-commerce world, they are calculated by dividing the number of orders received with the number of times a website was visited. If a website generates $100,000 over 2,000 orders in a month where 40,000 visitors were recorded, the conversion rate is 5 percent. In other words, five out of every 100 visits make $50 in company revenue.

 

How to Increase Conversion Rates

After learning how to figure conversion rates, it is helpful to uncover ways in which you can increase them. There are numerous tips that will bring success.

  • Add Testimonials. Customers always like to see feedback from other customers, especially when it is positive. Adding testimonials to a website is a smart way to build confidence from the public and heighten conversion.
  • Use Credible Symbols. Customers want to purchase from a trusted shopping source. Placing logos of the Better Business Bureau or using secure services like Verisign will always raise conversion rates.
  • Clearly Display Contact Information. All business websites should clearly display a phone number, email address, or live chat option. These encourage customers to ask questions and gain confidence in a product or service.
  • Update Headlines. Headlines grab the public’s attention and are the most important part of any webpage. Having an enticing headline encourages customers to consider making purchases. To keep things fresh and attract new business, it is essential to frequently change the headlines as well.
  • Offer Extended Guarantees. Customers like to know they have nothing to lose by trying new things. Elongating a product guarantee boosts confidence and increases conversion rates. Even extending a guarantee from 30 to 90 days will heighten business.

To improve a business’s conversion rates and lower bounce rates, it is important to track and follow them on a regular basis. This helps uncover things that are working well and areas that need improvement, plus it will increase your ROI on your SEO and marketing budget. Since conversion rates are directly related to sales and profits, the above tips will improve the company’s bottom line.

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