I hope you are having a killer week!
Today I wanted to talk a bit about how having great conversions rates doesn’t necessarily means that we have a profitable business.
You see, I use to focus too much on conversions rates.
And I know many of my fellow marketers also do.
That’s usually a good thing, because good conversions rates mean cheaper traffic and bigger email lists.
Which in turn means more profit, right?
Sometimes stuff like conversion rates prevent us from focusing on what matters most.
Which is giving away value, impacting lives and making money in the process.
So here is what I think about conversion rates and how you can increase them but also grow your business at the same time.
They Might Appear to be Everything, but They Are Not
It’s my opinion that part of adding value to our audience is being honest with them.
So having a full disclosure policy is almost always a good idea.
Such a policy will decrease your conversion rates but it will grow your revenue like never before.
And I’ve learnt this from Frank Kern.
We are always looking for the 50% conversion rates on the optin.
And the 10% conversion rates on the sales pages.
And even the 30% conversion rates on a webinar. But think about this for a minute.
If you are selling high ticket products on a webinar and you don’t tell people that you will be selling something or the actual price of the product, you might have a great conversion rate.
But a poor revenue.
If you are closing the deal on the phone after the webinar is over, most likely you will surprise a lot of people with your prices!
And you don’t want to surprise anyone, right?
If you decide to go full disclosure and say “Hey! We will be selling something at the end”.
And when it comes the pitch part you tell the actual price (which can be sweeten with a discount for attendees, of course :P).
Your conversion rates will plummet. BUT, those people that actually call you will be pretty much ready to pull the trigger.
This also applies to your follow up sequence.
If you are telling people “YES, we will be selling you some stuff from time to time”.
You might get unsubscribes, I know I do.
But at the end of the day people that are ready to invest with you will stay.
In fact, Frank Kern is saying he has a “poor” conversion rates in terms of common industry standards.
But it doesn’t matter because every time he makes a webinar, he helps a lot of people and he also makes a ton of money.
The Tree vs The Forest
And I’m not talking about conversions rates only.
There are a ton of trees that prevent us from seeing the forest.
Stuff like “Keyword Rankings” or “Facebook CPC”.
Don’t focus on getting to TOP 3 for your Keyword. Focus on getting more traffic and selling more.
Don’t focus on paying $0.01 per click. Focus on adding value and growing your business.
The only way to impact more lives and have the lifestyle we are looking for is to become profitable.
The fact that you are profitable is a great thing!
Because that allows you to create more jobs, to give away more value, to impact more lives and to earn even more money.
So I’ll try to let go a bit from conversions rates and focus on the important stuff.
Who will join me?
Have a great day guys!