In marketing, traffic is key. Clicks are the currency we transact in.
There is an active and fast-growing market for clicks, where the cost of each unique click from a email marketer can range from $0.25 to $0.50 and even more. In fact, Google is charging an average of $1 to $2 per click for the Google Search Network. For a quick calculation of the scale of this market, let’s assume that each internet user makes an average of 50 clicks per day. Multiply this by the 4.5 billion Internet users that are online today – we get a whopping total of $56 billion per day assuming a Cost Per Click at the lower bound of just $0.25! Of course, not all clicks on the Internet are the result of advertising, but observing the billions that Internet giants like Facebook and Google rake in from advertising should paint a pretty clear picture of how valuable people’s attention is online.
However, just like how not everyone walking past a store will enter and not every visitor will walk out with a purchase, likewise, not all clicks translate into outcomes that are useful to a business. Not all clicks will result in leads (sign-ups) and not all leads result in sales. The rate at which one can translate clicks to sales is what truly differentiates the best from the rest. To better fine-tune your strategy for translating clicks to leads, we should understand this as a two-stage process, where the success of each stage rests on different combinations of factors.
The two stages are first, translating clicks to leads, and the second, converting leads to sales. Depending on your goals online, it may not be a sale that you are gunning for. It could very well be a free trial for a web app, or a registration for an event. What separates a lead from these actions is that a lead is not fully convinced to hop on board with your brand yet. It could be someone who just signed up for a weekly newsletter. Or it could be a free webinar registration. Either way, the person has connected with your business or brand in some manner, but has yet to take the action that you desire.
Clicks To Leads
People could arrive on your e-commerce store or business site from a variety of sources – Facebook ads, word-of-mouth, Google ads etc. But out of all the visitors that land on your webpage, only some will be inclined to subscribe to a newsletter or learn more. And out of that crowd, even fewer are truly interested in what you are promoting. Your job is to sieve through the masses and flag out those who are interested and willing to take action. In sales terms, you are prospecting – hard selling something to someone who isn’t even interested is both costly and ineffective. After all, it would be a massive waste of time and money trying to convince every last person on the Internet that our product is for them! Instead, we should channel our efforts to those with a higher return on effort, i.e. to effectively target those who are already gravitating towards our court.
We just need to give them the extra push.
The way to do this is pretty simple – setting up a quick webpage where interested individuals can opt-in to learn more about how you can help them. By clearly stating your offer and how you plan to deliver value, that sign-up page can easily double up as a filter. This is also known as a squeeze page among email marketers as these newsletter pages most commonly request an email address from the visitor.
The success of your squeeze page in retaining visitors relies almost exclusively on its design and its copywriting. Within a few lines and images, it should tell your story in broad brush strokes; it should generate sufficient interest; and it should give them a sneak peek of the value they will get from subscribing to you. In other words, who you are, what you are offering them, and why they should stay.
A quick way to remember this is Hook, Story, and Offer. Hook them with a powerful call-out that they resonate with, tell your story and how it relates to them. Then finally deliver an offer that they cannot refuse – a value proposition that solves their problem and fulfills their ideal requirements, all at a cost that makes it only logical to provide their email address for further promotional material.
The aim here is to maximize what is known as the your conversion rate or ‘Opt-in Rate’. Each visitor who leaves behind his or her contact information is a cause for celebration! They have now joined your expanding pool of Leads.
Lead Magnets
One common tactic marketers use to encourage people to enter their online ecosystem is to use what known as a “lead magnet”. This is a piece of content or a lightweight offer that provides visitors to your website the push they need to sign up. This could be in the form of a PDF report, a pre-launch checklist, a list of top 10 tips etc.
These are lead magnets that a visitor who is in market for your products would be interested in. Promising this useful content as a result of signing up to the mailing list or following your social media profile could be a great way to obtain the contact information of prospects, or at the very least ensure that they are tuned in to future content. After you have established contact with your sign-ups, the real work begins!
Leads To Sales
Now that you have a process and page that converts visitors into leads, things get fun. One of the greatest assets we can have online is a collection of leads that we can continue to market to. In fact, with the aid of email marketing services or messenger chatbots, retaining our pool of leads and engaging with them on a regular basis has become much more within the reach of your everyday marketer than in the past.
Acquiring new customers requires active marketing and advertising, which can be costly. But once a visitor has opted into your ecosystem, it is far less costly to remarket to them and nudge them towards the sale or registration. This could be done through retargeting ads on Facebook, email drip campaigns, or even scheduled chatbot check-ins.
One common approach to carrying out remarketing is by objection handling – removing what is stopping the lead from buying, or the customer from buying more and again. For example, if someone adds some items to their cart but abandons it, we usually have an abandon cart email sequence that automatically checks in with the customer to remove barriers to buying. If its a problem with price, a coupon code could be delivered 6 hours after the abandon cart event. If its a trust issue, maybe sharing more background information could help!
In the end, this is but a brief overview on the main concept behind a lead generation funnel – a sequence of marketing and sales oriented engagements with the customer that nudges them towards your intended goals. And there are many other funnels that serve various functions in an online business. Expanding your brand’s repertoire of funnel tools while increasing the efficiency of each funnel is the key to rapid scaling and a sustainable business.
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