SlideShare una empresa de Scribd logo
1 de 30
Descargar para leer sin conexión
ABOUT CONVERSION
And 3 Rules To Double Your Conversion Rate By 200%
THE STRANGE TRUTH
#1 Rule
Conversion Is King
Double your conversion rate - double your income.
The Two Faces of Conversion
The Funnel… The Hustle…
In the first part we will be focusing on the funnel
The Funnel
And we’re not talking about your teenage party trick.
What Is A Funnel?
A funnel is the process of turning people who don’t know
about your business into leads, prospects and eventually
customers.
The funnel is the process of getting leads and turning
them into customers.
A funnel is like a whirlpool. The wider the top and the
longer the funnel the more leads you get and the more
value you can potentially provide.
#2 Rule
Wider Is Better*
*If the content is good.
Source: DigitalMarketer.com
The above are just a few of the ways to increase the width of
your funnel and potentially bring in more leads.
#3 Rule
Longer Is Better
This, in other words is the upsell. When people buy your product,
offer them more value in the form of something bigger.
The McDonald’s Way
$1.91 is the amount McDonalds spends on getting each customer through the door.
$2.09 is average price a customer spends on a burger.
$2.09 - $1.91 = 0.18c is the amount they receive in revenue from a burger purchase.
So how do they make money?! They upsell you a fries and a coke.
On average a customer will spend $1.77 on the upsell which costs McDonalds an extra 0.45c to make.
But now they’re making an extra $1.32 profit which means roughly 8 times more profit from the
initial sale!
Bonus Rule!
As Seth Godin wisely put it - being good is the new average.
To be successful, you need to start being remarkable.
What does this mean?
Always provide more value than your customers expect.
Don’t aim for a low refund rate, aim for a high ‘wow’ rate.
#4 Rule
Be Remarkable
A Personal Example
Let’s take a look at a real life case study of our business.
BigBangly (Before)
Through Google Adwords alone we directed people
straight to our product page.
With a conversion rate of 1% our average revenue per visitor was $0.50
Uh Oh…
This meant we could only spend up to $0.50 acquiring
our next visitor.
This is the recipe for failure.
So What Did We Do?
We started making our funnel wider with active (and awesome)
blogging, social engagement and advertising through more
mediums.
We directed people to a free eBook we created that helps them double their
conversion rate - you may be able to tell we are passionate about conversion!
In exchange we received their email address. Now we have a lead.
This gets a 54% conversion rate.
We also targeted a different market with a free webinar teaching people
how to go from an idea in your head launching a business and getting
their first sale (and more!).
This receives a 51% conversion rate
We then redirected them to an upsell. This upsell aims to provide literally
crazy value. Our goal here is to change the relationship from a lead to a
customer. We want them to say ‘WOW’.
This receives a 21% conversion rate
Those who purchased the last upsell get directed another upsell. Again
we provide ridiculous value and offer a once in a lifetime opportunity for
$20.
This receives a 11% conversion rate
Finally those that purchase that get directed to our last upsell - a
$200 a month consulting package.
This receives a 12% conversion rate
Best Part?
We still have a ton of leads who we provide massive value to each
week over email who later become customers when they are ready.
This is how they feel over the coming weeks, months and years.
The Maths
Old Way
1,000 views a day
1% conversion rate on landing page
1,000 x 0.01 x $50 = $500
$500/1,000 = $0.50 in revenue per visitor
Result
$0.50 in revenue per visitor
The Maths
New Way
1,000 views a day
50% conversion rate on landing page
1,000 x 0.50 = 500 leads and email addresses
20% conversion for first upsell
500 x 0.20 x $1 = $100
10% conversion for second upsell
100 x 0.10 x $20 = $400
10% conversion for third upsell
10 x 0.10 x $200 = $200
Finally 50% of the 100 trial users become members for $30 a month
100 x 0.50 x $30 = $1,500
Result
$2.20 in revenue per visitor
AND!
We also have an extra 500 leads to email, provide value to
and eventually become customers.
Bonus Bonus Rule!
We never describe our leads or customers as leads or customers
apart from when we teach.
Once someone reads a piece of content or watches one of our
videos, they join the family.
We don’t live in a world of mass marketing anymore, we live in a
world of connection and value.
If those two values are embodied by a business it can radically
alter its destiny for the better.
#5 Rule
Create A Connection
Fantastic!
If you’ve followed these steps you have just doubled your conversion rate!
If you want to grab your own free
copy of ‘How To Double Your
Conversion Rate Today’ for a more
in-depth look on what you just
learnt click below!
http://launcher.bigbangly.com
Or…
If you’re crazy like us and want to massively improve your
business, check out our eBook on Amazon for $3.99.
www.amazon.com/DoubleMySales
Finally
If you want more information about who we are and what we do…
Launchcademy BigBangly
For a low cost, world class business
education with a mission to empower
the world! Sign up for the pre-release
today.
For an ‘improve my business’ option we offer
low cost consulting, SEO and conversion
optimisation advice, website testing software
and more for the startup and small business
with a budget!
About The Author
steven@bigbangly.com
Founder of BigBangly and
Launchcademy.
Passionate about empowering
entrepreneurs and helping people
achieve their dreams. He also
loves mochas with
marshmallows… weirdo.

Más contenido relacionado

Último

A navigation of two creative processes Study
A navigation of two creative processes StudyA navigation of two creative processes Study
A navigation of two creative processes Studystuwilson.co.uk
 
Fashion-Marketing-1- Assaginment mid.pdf
Fashion-Marketing-1- Assaginment mid.pdfFashion-Marketing-1- Assaginment mid.pdf
Fashion-Marketing-1- Assaginment mid.pdfUttara University
 
Friends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptx
Friends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptxFriends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptx
Friends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptxGregory Edwards
 
scope in Digital Marketing & advertising
scope in Digital Marketing & advertisingscope in Digital Marketing & advertising
scope in Digital Marketing & advertisingKBS SHOP
 
Voltas turnaround strategy management case
Voltas turnaround strategy management caseVoltas turnaround strategy management case
Voltas turnaround strategy management caseAnkit Sarkar
 
The best Crypto Marketing Strategies pdf
The best Crypto Marketing Strategies pdfThe best Crypto Marketing Strategies pdf
The best Crypto Marketing Strategies pdfShifali roy
 
Snapshot of Consumer Behaviors of February 2024-EOLiSurvey (EN).pdf
Snapshot of Consumer Behaviors of February 2024-EOLiSurvey (EN).pdfSnapshot of Consumer Behaviors of February 2024-EOLiSurvey (EN).pdf
Snapshot of Consumer Behaviors of February 2024-EOLiSurvey (EN).pdfEastern Online-iSURVEY
 
Increase Your Website Sales & Leads Webinar
Increase Your Website Sales & Leads WebinarIncrease Your Website Sales & Leads Webinar
Increase Your Website Sales & Leads WebinarSEO Optimizers
 
Podvertise.fm - Podcast Advertising Marketplace - Startup Pitch Deck
Podvertise.fm - Podcast Advertising Marketplace - Startup Pitch DeckPodvertise.fm - Podcast Advertising Marketplace - Startup Pitch Deck
Podvertise.fm - Podcast Advertising Marketplace - Startup Pitch DeckNedko Nedkov
 
What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...
What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...
What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...Sophie Logan
 
Digital Gravity - Full-Scale SEO Services Preview
Digital Gravity - Full-Scale SEO Services PreviewDigital Gravity - Full-Scale SEO Services Preview
Digital Gravity - Full-Scale SEO Services PreviewDigital Gravity
 
The 2024 Next Gen Attention Study - www.livewire.group
The 2024 Next Gen Attention Study - www.livewire.groupThe 2024 Next Gen Attention Study - www.livewire.group
The 2024 Next Gen Attention Study - www.livewire.groupLivewire
 
Unifying feature management with experiments - Server Side Webinar (1).pdf
Unifying feature management with experiments - Server Side Webinar (1).pdfUnifying feature management with experiments - Server Side Webinar (1).pdf
Unifying feature management with experiments - Server Side Webinar (1).pdfVWO
 
Crafting High-Converting eCommerce Landing Pages
Crafting High-Converting eCommerce Landing PagesCrafting High-Converting eCommerce Landing Pages
Crafting High-Converting eCommerce Landing PagesVWO
 
Amazon Seller New Product Launch Guide - 2024.pptx
Amazon Seller New Product Launch Guide - 2024.pptxAmazon Seller New Product Launch Guide - 2024.pptx
Amazon Seller New Product Launch Guide - 2024.pptxWill Haire
 
Digital Marketing Services like SEO, SMM, SEM
Digital Marketing Services like SEO, SMM, SEMDigital Marketing Services like SEO, SMM, SEM
Digital Marketing Services like SEO, SMM, SEMNazal Digital
 
Friends of Search Future Proof Accounts.pptx
Friends of Search Future Proof Accounts.pptxFriends of Search Future Proof Accounts.pptx
Friends of Search Future Proof Accounts.pptxNavah Hopkins
 
Cricket Playbook for Growth Marketers: Adjust x Glance report
Cricket Playbook for Growth Marketers: Adjust x Glance reportCricket Playbook for Growth Marketers: Adjust x Glance report
Cricket Playbook for Growth Marketers: Adjust x Glance reportSocial Samosa
 
Imposter Syndrome in Marketing & Why You're Not Alone
Imposter Syndrome in Marketing & Why You're Not AloneImposter Syndrome in Marketing & Why You're Not Alone
Imposter Syndrome in Marketing & Why You're Not AloneHerd
 
Dhanuka Agritech Limited - Sales and Marketing Intern
Dhanuka Agritech Limited - Sales and Marketing InternDhanuka Agritech Limited - Sales and Marketing Intern
Dhanuka Agritech Limited - Sales and Marketing Internrisabhpandeyconnect
 

Último (20)

A navigation of two creative processes Study
A navigation of two creative processes StudyA navigation of two creative processes Study
A navigation of two creative processes Study
 
Fashion-Marketing-1- Assaginment mid.pdf
Fashion-Marketing-1- Assaginment mid.pdfFashion-Marketing-1- Assaginment mid.pdf
Fashion-Marketing-1- Assaginment mid.pdf
 
Friends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptx
Friends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptxFriends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptx
Friends of Search '24 - Scaling SEO_ Lessons for All Types of Sites.pptx
 
scope in Digital Marketing & advertising
scope in Digital Marketing & advertisingscope in Digital Marketing & advertising
scope in Digital Marketing & advertising
 
Voltas turnaround strategy management case
Voltas turnaround strategy management caseVoltas turnaround strategy management case
Voltas turnaround strategy management case
 
The best Crypto Marketing Strategies pdf
The best Crypto Marketing Strategies pdfThe best Crypto Marketing Strategies pdf
The best Crypto Marketing Strategies pdf
 
Snapshot of Consumer Behaviors of February 2024-EOLiSurvey (EN).pdf
Snapshot of Consumer Behaviors of February 2024-EOLiSurvey (EN).pdfSnapshot of Consumer Behaviors of February 2024-EOLiSurvey (EN).pdf
Snapshot of Consumer Behaviors of February 2024-EOLiSurvey (EN).pdf
 
Increase Your Website Sales & Leads Webinar
Increase Your Website Sales & Leads WebinarIncrease Your Website Sales & Leads Webinar
Increase Your Website Sales & Leads Webinar
 
Podvertise.fm - Podcast Advertising Marketplace - Startup Pitch Deck
Podvertise.fm - Podcast Advertising Marketplace - Startup Pitch DeckPodvertise.fm - Podcast Advertising Marketplace - Startup Pitch Deck
Podvertise.fm - Podcast Advertising Marketplace - Startup Pitch Deck
 
What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...
What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...
What's Happening with Your Microsoft Advertising's Search Campaigns? - Sophie...
 
Digital Gravity - Full-Scale SEO Services Preview
Digital Gravity - Full-Scale SEO Services PreviewDigital Gravity - Full-Scale SEO Services Preview
Digital Gravity - Full-Scale SEO Services Preview
 
The 2024 Next Gen Attention Study - www.livewire.group
The 2024 Next Gen Attention Study - www.livewire.groupThe 2024 Next Gen Attention Study - www.livewire.group
The 2024 Next Gen Attention Study - www.livewire.group
 
Unifying feature management with experiments - Server Side Webinar (1).pdf
Unifying feature management with experiments - Server Side Webinar (1).pdfUnifying feature management with experiments - Server Side Webinar (1).pdf
Unifying feature management with experiments - Server Side Webinar (1).pdf
 
Crafting High-Converting eCommerce Landing Pages
Crafting High-Converting eCommerce Landing PagesCrafting High-Converting eCommerce Landing Pages
Crafting High-Converting eCommerce Landing Pages
 
Amazon Seller New Product Launch Guide - 2024.pptx
Amazon Seller New Product Launch Guide - 2024.pptxAmazon Seller New Product Launch Guide - 2024.pptx
Amazon Seller New Product Launch Guide - 2024.pptx
 
Digital Marketing Services like SEO, SMM, SEM
Digital Marketing Services like SEO, SMM, SEMDigital Marketing Services like SEO, SMM, SEM
Digital Marketing Services like SEO, SMM, SEM
 
Friends of Search Future Proof Accounts.pptx
Friends of Search Future Proof Accounts.pptxFriends of Search Future Proof Accounts.pptx
Friends of Search Future Proof Accounts.pptx
 
Cricket Playbook for Growth Marketers: Adjust x Glance report
Cricket Playbook for Growth Marketers: Adjust x Glance reportCricket Playbook for Growth Marketers: Adjust x Glance report
Cricket Playbook for Growth Marketers: Adjust x Glance report
 
Imposter Syndrome in Marketing & Why You're Not Alone
Imposter Syndrome in Marketing & Why You're Not AloneImposter Syndrome in Marketing & Why You're Not Alone
Imposter Syndrome in Marketing & Why You're Not Alone
 
Dhanuka Agritech Limited - Sales and Marketing Intern
Dhanuka Agritech Limited - Sales and Marketing InternDhanuka Agritech Limited - Sales and Marketing Intern
Dhanuka Agritech Limited - Sales and Marketing Intern
 

The Strange Truth About Conversion

  • 1. ABOUT CONVERSION And 3 Rules To Double Your Conversion Rate By 200% THE STRANGE TRUTH
  • 2. #1 Rule Conversion Is King Double your conversion rate - double your income.
  • 3. The Two Faces of Conversion The Funnel… The Hustle… In the first part we will be focusing on the funnel
  • 4. The Funnel And we’re not talking about your teenage party trick.
  • 5. What Is A Funnel? A funnel is the process of turning people who don’t know about your business into leads, prospects and eventually customers.
  • 6. The funnel is the process of getting leads and turning them into customers. A funnel is like a whirlpool. The wider the top and the longer the funnel the more leads you get and the more value you can potentially provide.
  • 7. #2 Rule Wider Is Better* *If the content is good. Source: DigitalMarketer.com The above are just a few of the ways to increase the width of your funnel and potentially bring in more leads.
  • 8. #3 Rule Longer Is Better This, in other words is the upsell. When people buy your product, offer them more value in the form of something bigger.
  • 9. The McDonald’s Way $1.91 is the amount McDonalds spends on getting each customer through the door. $2.09 is average price a customer spends on a burger. $2.09 - $1.91 = 0.18c is the amount they receive in revenue from a burger purchase. So how do they make money?! They upsell you a fries and a coke. On average a customer will spend $1.77 on the upsell which costs McDonalds an extra 0.45c to make. But now they’re making an extra $1.32 profit which means roughly 8 times more profit from the initial sale!
  • 11. As Seth Godin wisely put it - being good is the new average. To be successful, you need to start being remarkable. What does this mean? Always provide more value than your customers expect. Don’t aim for a low refund rate, aim for a high ‘wow’ rate. #4 Rule Be Remarkable
  • 12. A Personal Example Let’s take a look at a real life case study of our business.
  • 13. BigBangly (Before) Through Google Adwords alone we directed people straight to our product page. With a conversion rate of 1% our average revenue per visitor was $0.50
  • 14. Uh Oh… This meant we could only spend up to $0.50 acquiring our next visitor. This is the recipe for failure.
  • 15. So What Did We Do? We started making our funnel wider with active (and awesome) blogging, social engagement and advertising through more mediums.
  • 16. We directed people to a free eBook we created that helps them double their conversion rate - you may be able to tell we are passionate about conversion! In exchange we received their email address. Now we have a lead. This gets a 54% conversion rate.
  • 17. We also targeted a different market with a free webinar teaching people how to go from an idea in your head launching a business and getting their first sale (and more!). This receives a 51% conversion rate
  • 18. We then redirected them to an upsell. This upsell aims to provide literally crazy value. Our goal here is to change the relationship from a lead to a customer. We want them to say ‘WOW’. This receives a 21% conversion rate
  • 19. Those who purchased the last upsell get directed another upsell. Again we provide ridiculous value and offer a once in a lifetime opportunity for $20. This receives a 11% conversion rate
  • 20. Finally those that purchase that get directed to our last upsell - a $200 a month consulting package. This receives a 12% conversion rate
  • 21. Best Part? We still have a ton of leads who we provide massive value to each week over email who later become customers when they are ready. This is how they feel over the coming weeks, months and years.
  • 22. The Maths Old Way 1,000 views a day 1% conversion rate on landing page 1,000 x 0.01 x $50 = $500 $500/1,000 = $0.50 in revenue per visitor Result $0.50 in revenue per visitor
  • 23. The Maths New Way 1,000 views a day 50% conversion rate on landing page 1,000 x 0.50 = 500 leads and email addresses 20% conversion for first upsell 500 x 0.20 x $1 = $100 10% conversion for second upsell 100 x 0.10 x $20 = $400 10% conversion for third upsell 10 x 0.10 x $200 = $200 Finally 50% of the 100 trial users become members for $30 a month 100 x 0.50 x $30 = $1,500 Result $2.20 in revenue per visitor
  • 24. AND! We also have an extra 500 leads to email, provide value to and eventually become customers.
  • 26. We never describe our leads or customers as leads or customers apart from when we teach. Once someone reads a piece of content or watches one of our videos, they join the family. We don’t live in a world of mass marketing anymore, we live in a world of connection and value. If those two values are embodied by a business it can radically alter its destiny for the better. #5 Rule Create A Connection
  • 27. Fantastic! If you’ve followed these steps you have just doubled your conversion rate! If you want to grab your own free copy of ‘How To Double Your Conversion Rate Today’ for a more in-depth look on what you just learnt click below! http://launcher.bigbangly.com
  • 28. Or… If you’re crazy like us and want to massively improve your business, check out our eBook on Amazon for $3.99. www.amazon.com/DoubleMySales
  • 29. Finally If you want more information about who we are and what we do… Launchcademy BigBangly For a low cost, world class business education with a mission to empower the world! Sign up for the pre-release today. For an ‘improve my business’ option we offer low cost consulting, SEO and conversion optimisation advice, website testing software and more for the startup and small business with a budget!
  • 30. About The Author steven@bigbangly.com Founder of BigBangly and Launchcademy. Passionate about empowering entrepreneurs and helping people achieve their dreams. He also loves mochas with marshmallows… weirdo.