Saturday, November 24, 2012

Patience when Asking Prospects to Buy

My post this time is about an article I read in KISSmetrics titled 'how selling patiently can increase your online sales' which you can find it by clicking here.

"It can be scary to not ask for the sale right away, but that can actually be the best way to boost sales and break through a conversion rate plateau."
This is a sentence in the beginning of the article. The problem introduced here, revolves around what is the best action to take for increasing the conversion rate and not repulse customers from the landing pages. What is the best way to ask for sale?
Apparently for low price, conventional materials the asking for sale above the fold works quite well, but what about the more expensive goods and services? We need to address the sale somewhere in the lading page, but how the strategy differs when offering a cheap and simple product?

When we face the decision of buying a product, we list the benefits and disadvantages of that product and see how these two sides weigh against each other. If you cannot list enough advantages against the high price of a product, you end up not buying it, however if you can see different benefits of the product outweighing the negative impacts of price, hassle, ... you decide to pay that amount of money and have that product. Increasing the list size for advantages is the task of the salesperson to persuade customers to buy a certain product. This might be including new dimensions in the consideration set of the customer.
So here is the insight: placing a "buy now" button above the fold in the landing page without persuading the prospect with sufficient reasons to buy, could not work well, especially for expensive products.
One good reason was mentioned in the article that why still many offer the sale right away above the fold:"expensive products often demand a high Cost Per Click, so if you’re shelling out moolah on AdWords, you’re desperate to earn it back. And when you’re desperate, it’s natural to ask for the sale right away."

Split Test is what marketers can do to see how effective their campaign would be with changing the way they used to ask prospects to buy. In one case here is the result:




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