21 July 2012 ~ 2 Comments

The Get in First Mentality

As someone who is fully immersed in the culture of online advertising and internet marketing, one thing that still surprises me is the “Get in First” mentality, people who truly believe that if they don’t join a site or start advertising it right away, that they will be missing out on something.

Even successful, long term, professional marketers find themselves favoring new websites, services, and products vs ones that have had a long lasted life.  The marketers who are creating these sites are custom tailoring their sales pages to synergize with your deep animal nature thought that things are limited.  The scarcity effect.  We have been programmed to believe things exist only in limited quantities.  You remember the last time you had a birthday party in your work place?  Carefully eyeballing the cake they purchased imagining how many slices it can make, and getting your place in line accordingly.   Well the same “lesson” follows us to the internet, but the internet is not a birthday cake.  There is no limit on websites, no limit on visitors, no limit on the size and scope of your market.

People believe and demonstrate every day a true belief that there is a limited amount of people to refer to their company or sale their product or service to.  They need to “Get in Early” so they can scoop up the good referrals before everyone else gets them all.  People legitimately believe this, and a huge market is created around just hype, building things up, using scarcity and other hot button marketing techniques to convince the end user that they really do need to sign up right now and make a purchase and promote right now, or they will lose out on something, referrals, commissions, could be anything really.  The theory supporting this and allowing us to rationalize this sales tactic is that there are a limited amount of people in the market, a limited amount of buying power, and a limited amount of time – people are react quickly and carelessly because they feel like if they don’t, someone else will.

Well the fact is, you both can.  That website is never going to say “Oh we have too many people, we’re making too much money, we can’t have any more new members”  That will never happen, the product will still be there for you, and you will still be able to promote it (assuming of course it isn’t a scam and the owner closes it down randomly (or the gov’t does – be careful what you sign up for!)).

What you are telling me when you say oh get in now, get in while it’s hot, it’s in prelaunch sign up now, get in quick, etc.  What you’re telling me is that somehow you’ve been in business all this time yet think there is a finite amount of customers.

Is there a limited amount of buyers?

If you used a billboard on the same spot of I-206 for fifteen years, then yes, maybe there are a limited amount of people who drive that route, if that’s the only way a person would know about your business.  Even though that’s not a limited amount of consumers, that’s just your own limit in your ability to reach them.  For the sake of argument we’ll say yes, that’s a limited amount of buyers, but this is really the only situation where that is so, because 92% of adult internet users use search engines, so weather you want them to or not, people can still find the site and make a purchase.

On the internet, there is no limited amount of buyers.  32% of the world’s population regularly uses the internet.  That’s over 2 Billion people, so unless you have 2 billion unique members in the site you are promoting, you have a hell of a lot more potential customers out there.  But even with this argument, we can say it is finite at 2.2 billion.  However still that is not the case.

Each day about 358,000 people are born.  32% of them will go on to use the internet, and 88% of that will make purchases online.  That’s 917 potential customers born every day.  You know how they say a sucker is born every minute? Well so is a potential customer.

So is there a limited amount of consumers?  Do you really need to get in first to get the most sales?  Absolutely not, and to think so is rather foolish wouldn’t you think?  Even a site with 3 million members, hasn’t even scratched the surface, and unless almost 1,000 people are joining EVERY day, they’re getting farther and farther behind.  You will NEVER run out of consumers to purchase your product or service, the only thing that may diminish, is your dedication to the product or service.  Stay focused, stay committed – if you believe in the product, you WILL sell it, regardless of how old or new it is.

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04 May 2011 ~ 0 Comments

Do You ACT? – Converting consumers to customers

A while back I started a 3 part series about ACT – it’s an accronym that stands for Attract, Convert, Transform. We already discussed Attracting consumers, this portion we will discuss Converting customers.

This isn’t going to go into the absolute details of creating highly converting websites – you need to do tracking and split testing to work that out for yourself.  Traffic Exchanges, Safe lists, CPA advertising, and even blogging can be great ways to attract people to your site, but it is your site’s job to make the sale, however there are some things you can do to aid in the decision making process.

Obviously the most important things are to know your audience and what they are looking for, as well as maintaining it’s consistency with the methods you used to Attract,  but also showing the value of your product.  One thing that is important to understand is that this step doesn’t sit by itself.

When a consumer visits your website, they see your product and your pitch, and if you have done a good job of showing the quality and value of your product, you may have generated some interest.  As a consumer, every decision that requires resources takes thoughtful consideration.  Weather it be you are spending your time, resources, or money on doing the action you define as a conversions, you have to think about it and weigh the pros and cons.

A user may come to your website and really see the value and quality of your product, but not sure they want to fork out the money on it, or even have the money to fork out on it.  It almost goes back to attract at this point, this is why having an opportunity for people to connect with your brand via social media or email are so deeply important.  When the consumer, although interested, does not make a purchase and leaves your website, chances are they won’t even remember the name of the website.  If they have connected with you via social media or email it creates a huge opportunity for follow up.  You can take a direct route and ask if there are any concerns with the product you are selling, or use automated email series to continue to sell, you don’t even necessarily have to give them sales pitches, just be there and keep your product on the consumers mind.  Branding goes very far in this part because creating stronger name and brand recognition will help them keep it on their mind.  When that time comes that they have decided to actually make the purchase, you will be there, and you will have created a customer.

Some decisions take only a few minutes to make if you want to do a purchase, some may take hours, some may take weeks.  Creating credibility and branding yourself as an expert will help build confidence in your consumer in your product and your brand.  Although the conversion starts and ends at your website, there is a huge hoop in the middle that involves your social media influence, email marketing influence, and your ability to be there to respond to potential customers thoughts questions and ideas.  It’s important to know your consumer because many will have questions they will never ask, so knowing your consumer and being able to answer these questions without them being asked will have a huge step for your brands image.

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