By KarlKangur, CEO, Result Compass
Marketing is an area of your business where you should never be satisfied with current results. There are virtually always new angles, methods, and trends you can implement to get the most out of your advertising spend.
In this article, we’ll take a quick look at four highly actionable strategies you can implement to see an increase in lead generation and conversion metrics.
Recover Abandoned Carts
Are you “selling” customers’ abandoned carts back to them? If not, you’re missing out on one of the simplest ways to boost your revenue and grow your business.
For those who don’t know, “cart abandonment” is the term used when a visitor to your ecommerce site adds items to their shopping cart, but leaves before completing the purchase.
To give you an idea of how prevalent the problem is, in 2020, 88% of all online purchases were abandoned before completion.
This is an astonishing statistic. But, with the correct recovery tactics, it’s possible for online retailers to minimize the impact it has on their cash flow.
In a nutshell, abandoned cart recovery entails sending highly personalized marketing emails to customers who never completed their purchase on your platform.
Typically this involves one initial email sent about an hour after abandonment to remind the shopper that their delicious goodies are still waiting for them in their carts.
If they still haven’t completed the purchase within two or three days, send them an incentive to complete the purchase. Things like discount coupons on a future purchase or free shipping are usually what piques a shopper’s interest.
Case studies showing the benefits of abandoned cart recovery abound. In this one, Rejoiner shows how Liftopia recovered 15% of its abandoned sales.
Create a YouTube Channel
Some leads need a little bit extra nurturing before they’re converted into customers – especially if you’re selling an unconventional product.
Some online retailers have the advantage of selling goods that people buy frequently. There’s less friction when your customers are used to buying a product like yours.
However, if you find yourself selling something with a long sales cycle – a product requiring a lot of thought and analysis from the customer – don’t be afraid to overwhelm them with helpful content about your product and brand.
And most importantly, don’t stick to just one content format.
Video is an exceptionally effective way to position a complex product with a reluctant audience. New statistics prove that it’s one of the most effective methods of nurturing leads, with more than half of marketing experts saying that it’s the format that delivers the best ROI.
GetSafe shows us how to do this effectively by embedding one of their marketing videos directly on their home page. And they don’t stop there. The medical alert company also maintains a YouTube channel that contains close to 30 product and service explainer videos.
Shine a Spotlight on Your Testimonials
Providing visible, credible social proof has become standard practice for ecommerce businesses, and for a good reason. There are tons of statistics proving that potential customers want to see evidence that their peers approve of your products before clicking on that buy button.
If you have a happy customer base and you’re not mining it for social proof, you’re missing out on an exceptionally powerful marketing technique. Simply by creating a visible summary of your satisfied customer data, you’re showing all of your site’s visitors that your brand can be trusted.
For an example of an incredibly simple way to do this, take a look at SomniFix’s homepage. The sleep aid retailers simply show visitors three review metrics alongside actual feedback from customers. This visual element may seem simplistic, but it goes a long way towards creating the credibility your brand needs to grow.
Showcase Your Products with User Generated Content
Another method of illustrating social proof is to incentivize your existing customers to contribute to your social media content with posts of them enjoying your products.
This is an especially effective way to market lifestyle or leisure products, as Gili Sports shows on their Instagram page.
When potential customers see regular folk like themselves enjoying a standup paddleboard in an exotic environment, it does two things. Firstly, it creates confidence that your brand can be trusted. Secondly, it evokes a powerful emotional response – making the visitor feel like they’re missing out on something.
Instead of browsing the web, “wasting” their time looking for a new paddleboard, they could be doing what your existing customers are doing –enjoying the great outdoors!
Don’t underestimate the power of creating FOMO with your leads.
The trick to digital marketing success is never to be satisfied. Sure, your company may be doing well, generating decent profits, and even showing signs of growth. But is this enough for you to simply sit back and continue with strategies that are simply “adequate?”
Your business is worth more than that. The blood, sweat, and tears you poured into it deserve to be properly rewarded.
There are many marketing experts giving exceptional advice for free on the web. Aside from the tips we discussed in this article, you’re sure to find countless others that are just as good.
Don’t hesitate to dive deeper into this topic. Set aside time to research these. Implement those that are appropriate and, most importantly, never stop testing results!