30 Jun How to Grow Your Sales, Conversions and Customers – (Part Two Of Three)
Continuing on the topic of ways to grow our sales, increase our conversions and get more customers, here is Part Two of Three.
Transcript – Part Two Of Three
You need two different email databases. One, for current customers. We all have that. Contact list people who have purchased from us. You need one for, “I was looking to buy, but just didn’t quite get there yet.” That’s the other 80%. 20% of people might actually buy from us the first, second, maybe if we’re lucky, third time they choose to come back.
The other 80% goes somewhere else. Customer says to me, “Oh, I’m not really interested at the moment.” “Sure. No problem. Do you mind if I just add you to my newsletter list, keep you in touch with what’s happening in the future?” “Yeah, no worries.” No one’s ever said no. They go into that database of prospective customers.
When a customer says to me, “Look, I’ve purchased somewhere else. I’ve gone and done this.” “Okay, no problem. But do you mind if I just add you to my newsletter list, keep you in touch with industry updates?” “Sure.” That way, when the person they purchased off does the wrong thing, which unfortunately in my industry happens probably one out of two times, then they come back to me.
Prospective customer database is you future. If you build a good one, if you look after them, it will get to the point where you will never, ever, ever need to spend money on advertising again. That’s a promise if you will build your prospective customer database. You just have to do it. No question.
These results show that we tend to do it more often for business to business, not business to consumer. I don’t know why. So many more consumers out there.
Content strategy. Content marketing generates at least three times as many leads as traditional outbound marketing — just advertising. I’ll talk more about that in just one moment — but costs 62% less.
Now I want to ask for a show of hands on this one, but who actually has a marketing budget? Meaning, this is how much money I’m planning on spending this period of time. Good. Some do. Most don’t.
Imagine if you could cut that by 62%. For some of us, 62% of a hundred bucks, not much of a saving. But 62% of $10,000 or $15,000 to $20,000, reasonable saving, wouldn’t you agree? Put that back into business, take a holiday, something with that money. We’re going to talk in a moment about the differences between inbound and outbound marketing, content marketing versus advertising.
The point is content marketing, which is what I mentioned just one snippet off very early, costs an awful lot less money, especially if you create one piece of content and use it multiple times. That certainly makes sense. So it’s also worthwhile looking at. 54% more leads are generated by inbound tactics than traditional paid marketing. I’ll clarify this for you in just a moment.
But two times as many marketers . . . this was from the State of Marketing Report. I think it was from 2014 from HubSpot. Not quite sure of the date on there. Two times as many marketers say inbound delivers below average cost per lead than outbound. We’re going to talk about inbound marketing versus outbound marketing. If you’re a little bit confused, don’t worry about that. I had to look it up just to clarify it enough so I could then explain it to you.
I was really doing the inbound marketing. I haven’t ever done that much on the outbound marketing. Two ways of explaining it, and then we’ll go into the fine detail.
Inbound marketing, modern stuff. Outbound marketing, old school. Inbound marketing, more cost effective. Outbound marketing, cost a lot of money. Inbound marketing generates a better quality lead. Outbound marketing generates someone who’s shopping around everywhere. You ever get to those kind of people shopping around, don’t you love them? “Hi, how are you?” Yeah, what’s your price?” If they just come to you and say, “Say, what’s your price,” guess what, they don’t trust you yet. They don’t believe you can deliver the service.
I believe without doubt, after not just 18 years in this industry, but many, many, more years, like many of you, in business, that when someone — you’ve heard this before — knows you, trusts you, believes in you, they will pay you more than anybody else if they feel safe with you. It’s just a fact. That’s why the big brands spend so much money on that brand advertising, to build that trust factor.
I won’t put this bit public, but who knows how bad Coke is for you? Who knows how many people drink that stuff? It’s really bad for you. I like it though. I’m not addicted to it like I used to be, but it doesn’t matter even if it’s a good or bad product. Biggest fast food company in the world, McDonald’s, hugely successful. They eat it like they’re selling out tomorrow. We get out and buy McDonald’s. “But mom, I can get a little toy with it. I don’t care it’s going to kill me eventually.” Well look, once a year, probably not, unless you’re really unlucky, but every week, not such a good thing because with it comes all the habits. Guess what. It’s bad for you, and they still buy it.
How much more should they be attracted to you with a good product, with a good service? I’ve seen many of the products and services that those of you in this room sell, and they are bloody good. Why aren’t you making a killing then? Because the prospective customers, the 80% who don’t yet know you, don’t yet trust you, don’t yet have faith in you, don’t yet believe in you.
Yes, there is always a small percentage. “We just don’t really have the money.” Yes, there is always that small percentage. You want to sell to them, that’s okay, but much more fun selling to those who actually have a little bit more money, just want delivery of product or service.
That’s really important to understand about your pricing, but also inbound marketing versus outbound. Outbound marketing sells to the person who doesn’t know you. Inbound marketing attracts the person who does.
Let’s look at that just a little bit more. Inbound marketing, let’s do a quick poll. We did some of these before. Blogging, who does blogging? Yeah, got a blog. The rest of you should have a blog. I’m just saying that as an SEO guy as well. Many of you know I do a lot of search engine optimisation for different companies. If someone comes to me and says, “Look, I’d like you to do some SEO for us. Can you get us better rankings in Google,” I say, “Look, we can, but how about we just get you more customers? It’s probably more important, but the two of them together, I say, ‘Show me your blog.'”
“I don’t have one.” My simple answer is, “I can’t help you.” I won’t help you. It’s just almost impossible, really difficult. Blogging is unbelievably important when it comes to, not just from an SEO point of view, but for building trust. Regular content focused around what your customers want to know on a regular basis.
How often should we be blogging? Let’s take a poll. Some random votes. How often do you think we should be blogging, adding new content to our websites? Forget about what you physically can or can’t do. How often do you think is a good idea? Give me a show of hands for once a month. No. Okay. Once every two weeks. One vote there. Once very week. Oh, look at that. The numbers are going up. How about once a year? Not quite. Once a week. All right. Let’s look at once a week. So 80% of the room says once a week.
Now, how many people can actually do it once a week? I’ll put my hands down here, because I just cannot do that once a week. I would like to do it once a week, but I can’t always. If you have a plan for once a week, that’s a good plan. I think if you’re doing a brand new website or a brand new blog, we’re going to revamp our website, add a blog.
Here’s my best suggestion.
One a day for the first 90 days, scheduled. Get some help writing it, if you have to, but scheduled to get some content out there straightaway, and then a lighter schedule from there. I probably have 500 or so blog posts on my website now. A little bit easier for me. If I get sort of busy, I can just go, “I’ll reschedule that one.” But my goal is to . . . what I do is record one video a week. Try. That’s my goal. That video goes to YouTube. The transcript of that with the video goes to my blog post. The summary goes to my newsletter. All three different things get shared to social media.
What did I do? I recorded one video using content multiple times.
Who’s using social media? Just about everyone. Okay, good. Will social media save your business life?
Paul: No. So why are we all doing it then? Well, it’s a good idea. Someone told me, “Paul, I read a book, I saw this report, I saw something on Facebook that said I had to be on Facebook.” Didn’t we? I did. That’s why I joined. Heck, I was a late joiner. I came along I think about 2009. I avoided social media like the plague. Finally got around to it.
Look, it’s a good idea, but you don’t want to be posting rubbish. You don’t want to be posting stuff that’s irrelevant. You want to be posting stuff that is going to attract people back in to your website.
What do your customers want to know? What answers to the questions can you put on your blog, which then goes to social media? That’s the goal.
Here’s the very simple formula, 30, 30, 30, and 10. 30% informational, your content. That’s your blog posts. Now, it’s your pages. It’s maybe a video from YouTube, something like that. 30% informational other people’s content. Informational for the customers. No selling involved. 30% promotional. “Come buy this. Have a look at this. Subscribe to this.” It’s a lead generating tactic, just 30%, and 10% fluffy cats and kittens. Inspirational, funny stuff. Question?
Woman: What was the first 30%.
Paul: Informational of your own content, the first 30%.
10% fluffy cats and kittens, inspirational stuff. Gets a lot more hits, doesn’t it? Gets a lot more likes. Doesn’t make you much money, if any, unless that’s what you sell. Probably not. Could do.
I have a client in the insurance industry. They generated a video, which got them, get this, over one million views. It was on YouTube, but posted through their business page. Over one million views, a local business. Guess how many sales — and they were able to track them — they got from one million views. Not one, because the video was just a “Ha ha, funny, look at me.” Someone from their industry, famous, running around in a mankini, boy. But a million views, thousand of shares. Yeah, that’s it.
Woman: Yeah, I know. I was there.
Paul: Yeah, no customers. Why? Not relevant. Worse yet, no way of generating leads, names and email addresses of potential customers to then follow up. Silly people.
SEO, who’s doing some work from an SEO point of view, either yourself or somebody else? Okay, about a quarter of the room. Here’s the good news about search engine optimisation. It’s bloody difficult, and it never stops. That’s the good news. The bad news is it’s bloody difficult and it never stops, but if done right, it can generate the perfect customer for you.
Here’s the problem. A customer coming from SEO is often more difficult to convert than one say through social media, unless you’re using analytics and you’re tracking what’s called assisted conversions, and you realise that these days, very few people actually buy from you the first time. Really? Is that new news? No, that’s not new news. Not at all.
Assisted conversions in Analytics is a little report which only shows up if you have goals set up, and it says that person who just converted through your contact or sales form, they had viewed you once coming through from Google. They then obviously went back and looked through Facebook and checked out your profile, because they then came back through one of your links on Facebook. They also maybe subscribed to your newsletter, and the final conversion came after they trusted you.
Happens to me all the time. I get calls from all around the country. I say, “So you’re where? In Adelaide? I don’t do any advertising in Adelaide. How did you happen to find me?” This is a real customer recently. He said, “Well, actually, you came up first of all was just like my page.” I run a consistent ‘Just like my page’ on Facebook, $5 a day ad campaign. Very easy, but targeted to businesses here in Australia. He said, “I saw that, looked at a couple of your posts, and then clicked through to your website.” He said, “Then I went to check out your YouTube videos, watched a few of them, came back, and then I contacted you.” I said, “Over what period of time?” He said, “It took about a week.”
Assisted conversions. Video is a powerful thing to help you build that trust, but it’s very rarely just one thing.
The person who comes to you and says, “Hi, can you give me a call,” or “I’d like this,” they ask one question, “What’s the price?” They don’t know you. They don’t trust you. They just want to know what’s in it for them.
YouTube and targeted advertising. Does anyone here have a YouTube account with videos on it? Good, got a couple. Incredibly important. Here are the rules for creating good videos on YouTube. If you’re ugly, don’t be in them. That’s rule number one. You don’t have to be in your videos.
I’m a professional speaker. I’ve been doing this for nearly 40 years. I started on stage as a kid. This is easy for me. I break that rule every time I go on stage, but that’s okay. I can get away with it because, hopefully, I have good content. I make that as a joke. It’s to let the pressure off. It’s to say it doesn’t have to be you in the video. Did I say it had to be you? “Oh yeah, we need to do a video. Hi, my name is . . .” It’s like a bad high school musical, if you don’t want to be the person in front of the video.
It could be anyone. It doesn’t even have to be your voice. Could be a slide show with some music royalty free, which YouTube gives you. Could be a story about your business service.
It doesn’t have to be sales. I’ve got one video, I just thought I would do it as a test. I wrote an article and then recorded the article and put a little musical background thing to it. Except the fact that it took me too long to do it, it was great. People loved it.
There’s a whole bunch of different things that you can do. What should you do though? I think you should go, “Hmm, what do my customers want to know?” Just give them that. That’s the easy way to do business.
Here’s how most people do business. “I’ve got an idea. It’s a great idea. Let’s go and do it.” I put my life into it, my heart, my soul, my money, my husband, my wife, my dogs, the cats and the fish, and I’m going to just put the whole thing up and hope to God that it works.
What’s the failure rate for small businesses here in Australia at the moment? I don’t know the number, but it’s pretty high, because that’s how most people do business.
Here’s a better idea. There’s a market for something. Let me investigate, research, test that market, and then see if I can create a product about it. Look, there is a joke around here on the Sunshine Coast, of which as I do web design, I have my own design. I’ve been doing that for many years as well, and as you in this room certainly know, wedding celebrants, lots of you also. Here’s how it goes. On the Sunshine Coast, if you want to start a business, you either become a website designer, a wedding celebrant, or a photographer. Why? Because you don’t need a university degree to do it. It doesn’t mean you’re any good.
For those of you who are good know, most of them aren’t. That’s the ones who get the repeat business. Sorry, got the wrong guy. Doesn’t matter. But different ways of creating a business.