3 Quick Actions to Increase your Average Order Value (that you may not have thought of)
28th May 2018
The Five Pillars Of Internet Marketing
11th June 2018

Avg. Reading Time - 6:30 mins

 

Gain more clients… Embrace the cold!

When strategising on ways to gain more clients, it is easy to focus on areas such as optimisation of ad spend… or even spending more on advertising.

However you could be missing out on a huge opportunity!

What if instead of marketing to the 5%, you could start to tap into the 95% of people who currently don’t even know about your products and services?

Now before you think I have gone crazy, let me explain…

 

Most of you will be familiar with the old diagrams of a sales funnel, depicting cold leads at the top, warm leads in the middle before the hot leads (people ready to buy) drop out of the bottom!

Today, things are no different, we just need to think a little outside of the box to start marketing into the cold section and progress as many of the 95% through to being ready to buy.

The good news is that with the technology we have available today, we can set up digital marketing funnels that work automatically to carry out this process for us!

"Tap into the 95% of people who currently don’t even know about your products and services...and progress them to being ready to buy!"
 

In order to do that, we first need to look at the buyer/prospect psychology in order to understand the process they need to go through to be “warmed up”.

So, explained in its simplest terms the different levels of temperature look something like this:

 

Cold: Is currently unaware of any problem that your product/service may solve for them. For impulse purchases, they are completely unaware of the product so are unlikely to be gripped by impulse.

Warm: Is aware of either the problem or the product. Most likely researching for a solution to their current situation or putting up with the issue, unaware that the product solves it for them. Impulse purchases are normally aware that the style/type of product exists but not your particular one.

Hot: Are aware of the problem and your solution. They are near the final stages of research before making the purchase decision and are almost ready to buy. Impulse purchase products are seeded in their mind, making them willing to buy as soon as they see the product again.

 

Once we understand this journey that all buyers move along, we can start to plan a strategy to market effectively to all stages of the funnel.

For your cold prospects, you need to think about the symptoms of the problem. You need to act like a Doctor, discover and understand the symptoms in order to make a diagnosis and let your future customer know what is wrong with them.

Is it that they believe they have a booming business but are niggled by a higher turnover of staff than they would like? I mean all businesses lose their best staff to head hunters don’t they? For example, if you offer HR appraisal support is there an opportunity to help them by making suggestions on how the turnover of staff can be reduced? Help them break-through their beliefs that all businesses lose their best staff and show them that by properly running a feedback and appraisal system, it doesn’t have to be that way.

Or maybe you sell running shoes and your cold market believes they have reached their peak in terms of ‘Personal Best’ times that they can run? Could it be that their peak performance times have yet to be realised due to a gait issue that could be resolved by specialised running shoes, with the side benefit of reducing pain whilst running?

Once you can diagnose the problem you then have a place to start.

HOWEVER the key is to not be overly keen with the sale just yet! Trying to sell at this point is like proposing marriage on the first date! It never ends well.

You need to cultivate the relationship and move them from the cold section of the funnel to the warm section.


 

Cold to Warm!

In order to progress the relationship, you need to use content marketing. Identify the problem, tell them it doesn’t have to be that way and promise them the diagnosis and help to fix their problem.

Some great examples of this in action can be seen here:

 

Once you have the cold prospect on board and have started to build a relationship, you will now have firmly moved them to the warm section of the funnel.

It is important at this point not to skimp on value and to treat the sale just like any other human relationship. It always works best when you give!

Maintain regular contact through email marketing whilst continuing to give them help and support with their problem via pieces of content.

At regular intervals you will want to test the water to see if they are ready for that next stage in the relationship and move into the hot phase of the funnel.

You want to take a subtle approach for the most part, letting them know that the help you have provided will solve their issues… but there is a better solution! Your product or service.

If they don’t take you up on your service, you can slowly start to introduce more overt advertisements into the communication. You will have built up good will with the free value you have invested in the relationship meaning your prospects will be much more responsive to this overt advertisement than they would without the great content you have shared.

It is also important to point out that at this point, you will have built up loyalty in the relationship which leads to another great benefit of using this system.

Your prospects are far less likely to shop around and force you into competing on price.

For the vast majority of people, peace of mind that they are dealing with a great company who is likely to overdeliver on value in a transaction, will by far outweigh price.

Think about it, how many times have you bought something more expensive than it is elsewhere purely based on the fact that the company you bought from had better reviews for customer service?

 

Building the relationship first, in this manner, you are educating the prospect from the very start that your company is to be trusted and has their best interests at heart.

But the benefits do not stop there, as you will also likely see (once your systems are setup), a reduction in client acquisition costs. As digital advertising is predominately conducted in an auction room setting, the more people in the room, the more expensive the click.

By using this tactic you will start to acquire customers that your competitors are not targeting, as they are purely focused on the hot market. This means that there will typically be less people in the auction room, hence cheaper clicks.

By providing good helpful content you will also be rewarded by ad platforms such as Google and Facebook for giving a great user experience. Meaning better ad scores which again means cheaper clicks.

All of this whilst you are forming relationships and stealing the market away from your competition!

 

Cold to Warm!

In order to progress the relationship, you need to use content marketing. Identify the problem, tell them it doesn’t have to be that way and promise them the diagnosis and help to fix their problem.

Some great examples of this in action can be seen here:

McDonald's "Your Questions ®" Campaign

landingpage-ex1

A few years ago McDonalds were going through a bit of an image problem and needed to win back previous customers and also look to new markets. The way they decided to do this was to build engagement and transparency by literally ‘flinging the barn door wide open’ and showing everyone what goes on behind the scenes and also ask questions in a public forum.

They created a whole bunch of content which presented how their foods were sourced and prepared and showing the entire ‘farm to restaurant’ journey. They also requested that people posted questions on an open forum and they would make sure they answered all of them as thoroughly as possible.

Alkaline Foods 'How Acidic Is Your Body' Assesment

landingpage-ex2

This site is a great example of content marketing. What AkalineFoods.net has done is to specifically target people who are experiencing specific health issues with very relevant content. It is a survey funnel which produces a personalised report which steps them through how to improve their body’s alkalinity.

Now here is the clever part. The survey is gated which means depending on the answers givens will determine the content inside of their individual report. Once on the mailing list the person receives additional content which compliments the report, such as videos and infographics. Ultimately throughout this content there are cta’s which prompt a personal consultation or to purchase the online course.

QuickSprout Blogging Website

landingpage-ex3

Neil Patel who is behind the site QuickSprout got into marketing at the age of 16, and now at the age of 33 he is regarded as one of the top ten marketers in the world. QuickSprout is a blogging site which contains thousands of articles that relate to digital marketing. In addition to this he also offers how-to guides, video tutorials and webinars.

However what Neil quickly realised was the more advice and value he could give his audience, the more hungry they became for it. After several years of blogging he was starting to receive a large amount of traffic to his site which he could begin to monitise. Today the blog is still growing by the day and providing a good stream of new customers into his other business ‘KISSmetrics’.

 

Once you have the cold prospect on board and have started to build a relationship, you will now have firmly moved them to the warm section of the funnel.

It is important at this point not to skimp on value and to treat the sale just like any other human relationship. It always works best when you give!

Maintain regular contact through email marketing whilst continuing to give them help and support with their problem via pieces of content.

At regular intervals you will want to test the water to see if they are ready for that next stage in the relationship and move into the hot phase of the funnel.

You want to take a subtle approach for the most part, letting them know that the help you have provided will solve their issues… but there is a better solution! Your product or service.

If they don’t take you up on your service, you can slowly start to introduce more overt advertisements into the communication. You will have built up good will with the free value you have invested in the relationship meaning your prospects will be much more responsive to this overt advertisement than they would without the great content you have shared.

It is also important to point out that at this point, you will have built up loyalty in the relationship which leads to another great benefit of using this system.

Your prospects are far less likely to shop around and force you into competing on price.

For the vast majority of people, peace of mind that they are dealing with a great company who is likely to overdeliver on value in a transaction, will by far outweigh price.

Think about it, how many times have you bought something more expensive than it is elsewhere purely based on the fact that the company you bought from had better reviews for customer service?

 

Building the relationship first, in this manner, you are educating the prospect from the very start that your company is to be trusted and has their best interests at heart.

But the benefits do not stop there, as you will also likely see (once your systems are setup), a reduction in client acquisition costs. As digital advertising is predominately conducted in an auction room setting, the more people in the room, the more expensive the click.

By using this tactic you will start to acquire customers that your competitors are not targeting, as they are purely focused on the hot market. This means that there will typically be less people in the auction room, hence cheaper clicks.

By providing good helpful content you will also be rewarded by ad platforms such as Google and Facebook for giving a great user experience. Meaning better ad scores which again means cheaper clicks.

All of this whilst you are forming relationships and stealing the market away from your competition!

Chris Weatherhead
Chris Weatherhead
Chris is a digital marketing consultant, speaker and writer. His ability to help explain complex strategies in an easy to understand and, more importantly, actionable way has led to him working with large national and multinational corporations – ultimately helping them to gain more customers who spend more, more frequently. To find out more about Chris, go to the 'About Me' page or you can connect with him on Facebook.

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