Getting Value Out of Customers That Don’t Convert
In a perfect world, every customer would convert into a sale. But, even for the biggest products and brands, that is not the reality. One of the big differentiators for success and growth is how you use all customer engagements to improve your product and sales flow.
Even though not every prospect converts, that doesn’t negate their value. We’ll take a look at how you can turn missed conversions into valuable customers.
How a customer engages with your product or services online is often dictated by where they are in the conversion funnel. Collecting data on all interactions helps to inform the best way to reach customers at all stages of the funnel, and gives insights on how to push them through to the next stage.
Engagement at the early stages of the customer lifecycle may not lead to conversion. Still, they can have a lot of value down the line. These people are often still in a “browsing” phase, comparing options and prices - or they may simply not be ready to buy. Regardless, having a good first impression keeps you top of mind when it’s time to convert.
Building out a customer journey map is a great way to reduce cart abandonment and improve long-term results with non-converting customers. The map models the typical timeline and steps it takes to move a user from first-interaction to conversion and to loyalty.
Mapping out the customer journey gives insights into tools and strategies you can use to get non-converting customers to finish sales. For instance, pushing to get customers to sign-up for deal notifications by email is a good way to convert browsing customers. A discount or coupon could be what pushes them to take a chance on the first sale. Abandoned cart reminders can also help bring people back to a sale they did not finish.
The more effectively you can target your ideal customer, the better your rate of conversion and the higher the satisfaction with your digital product or service. Any good marketing plan helps you uncover this perfect target audience, constantly improving your customer acquisition and conversion rates.
Successfully narrowing your target audience relies on collecting both positive and negative data. Good products benefit just as much from non-conversions as they do from successful conversions. How? Negative results can help product designers identify where certain messaging or features don’t meet the needs of their prospects. This information can help them change their focus and/or test new messaging.
When you have a greater understanding of your customers and how you fit into their lives, you will have a greater ability to leverage data and create meaningful opportunities for them.
Even a prospect who is unlikely to ever convert has the potential to add value. Creating a positive impression and ultimately, a relationship with prospects will turn them into brand champions who will generate word-of-mouth and referrals. This can be invaluable in reaching prospects who will convert.
Your brand champions share social media posts and add to your prestige and image. For instance, most fans of luxury cars never buy them, yet their activities greatly benefit the brand. Discussions on forums, branded accessories, sharing about new vehicles, all help to increase the visibility, trust, and prestige of these car brands.
Your brand champions may not always lead to direct conversions, but they are an invaluable marketing tool, supporting your long-term goals and growing your reputation.
Earn More Conversions With A Strategic Technology Partner
Torinit is a strategic technology partner with a proven ability to get digital products and service companies to increase their conversions. Our team of digital experts ensures you have the right technology and strategies to capture useful, actionable insights from your customers to grow your conversions and your business.
Contact us today and discover the Torinit difference.