CONVERT A CUSTOMER

 If the subscribers you gain in last step (i.e. Customer information or subscription), some of them will be ready to increase their level of commitment. They like the information you share and have begun to trust you, so they’re ready to invest in one of two ways: either with time or money.

How to Convert a Customer into Investor

Converting a customer into investor is a critical stage in the Customer Value Journey or Digital Marketing Strategy. This frustrates many business owners. The key to success in this stage is “entry-point offers.” These offers are designed to give the new prospect tremendous value without forcing them.

CONVERT A CUSTOMER INTO INVESTOR
Convert a customer

At this stage, to ask for a significant investment in a complex product or service would be asking too much, too soon. You’re still in the early stages of relationship.

In fact, it’s too early even to concern yourself with profitability. That’s right: in this stage of the Customer Journey, you might lose money on the prospects you acquire as buyers.

This is, perhaps, the most important lesson you must learn so it bears repeating: 

The Convert stage of the Customer Value Journey is about acquiring buyers or ramping up the commitment level of the leads you already have. It is NOT about profitability.

The most valuable businesses in the world all understand that the costliest marketing activity your business undertakes is customer acquisition. It’s the reason Jio was willing to buy you out of your old SIM card contract and give you a free data. It’s the reason Bluehost offers domains for free with hosting, and it’s the reason Avitech Digital Marketing provides valuable services in just 100$.

The goal is to acquire a new customer. Profits come later.

Examples of Marketing That Generates Conversions

There are two types of entry-point offers: 

  1. those that require a commitment of time, and 
  2. those that require a commitment of money. 
Here are some examples:

  • Independence Day is the time of the year when citizens are filled with joy and hopes for prosperity for the whole nation. Marketers very well understand these emotions and know how to leverage these to their advantage.
  • Ola appealed to its customers’ emotions by offering them outstation deals during Independence week. The company even offered an INR 300 discount for its first-time outstation users. Ola also partnered with Club Mahindra and Yatra to offer deals on hotel stays.
  • The Flipkart Freedom Sale which celebrated India’s spirit of Independence only ran for 4 days, so people had limited time to buy what they wanted to.

Your goal here is not to make a huge profit. It’s to get customers, to shift the relationship between you and your subscribers. Because, as you’ll see, once someone is a customer, it’s much more likely that person will purchase higher, more complex products and services and do it more frequently.

Remember, one of the costliest (in time, money, resources) marketing activities your business will undertake is the acquisition of customers. The best thing is that once you’ve acquired them, you don’t need to pay to acquire them again.

Here’s an example of an offer from Bluehost that does a great job of acquiring new customers with free .com domain registration services:

Getting that initial conversion was the hard part. Now they can build the customer relationship to create profits down the road.

Digital Marketing Disciplines That Convert a customer

Avitech digital marketing tactics you need to improve conversions in your company include:

  • Digital Advertising
  • Lead Generation
  • Content Marketing
  • Copywriting
  • Email Marketing
  • Search Marketing

Location: India

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