Typically, the conversion from prospect to customer involves the purchase of a product or service. To achieve this, marketers leverage behavioral science knowledge and influencing choice architectures. For example, Amazon offers an option to save billing and shipping information for future purchases. But, closing a transaction is not the only part of marketing today. It can also involve engaging in surveys or newsletter subscriptions to stay updated with products and trends. Listed below are some methods retailers use to convert prospects into customers.
The first step in the conversion process is to create a desire in the mind of the customer. For example, the content on your website should be designed to impress the visitor and make them want to buy the product. Social media subscribers are more likely to become future customers if the site has compelling content. In the next step, the customer should be prompted to make a purchase based on the information they provided. Moreover, the conversion process includes two more stages: consideration state and action.
Awareness is the first step in the marketing process. The objective of this stage is to make as many people as possible aware of the product or service. This is done by advertising it across various media that are most likely to attract potential customers. However, advertising must be effective, as well as affordable. As new forms of media emerge, so do new ways of creating awareness. Influencers on social media are an example of this. Advertising through these “influencers” has become a popular form of advertising.
Another important step in the conversion process is a customer’s journey. AIDA is an acronym for Awareness, Interest, Desire, Action. Using this model helps marketers understand and categorize their marketing activities. The four stages of attraction lead to the purchase of a product or service. These stages include a website, a video clip, an email newsletter, or a landing page graphic. In each stage, the goal is to keep the customer interested and motivated.
Customers do not want a salesperson selling for a profit. They want someone who is willing to help. Traditional marketing focused more on the product. But more effective marketers started telling stories about their customers, asking questions of customers, and putting the focus on their experiences. By focusing on the customer, successful marketers could increase their conversion rate. This is why it’s vital to engage customers in your marketing efforts. You can do this by implementing incentive programs for existing customers.
A successful marketing campaign should offer a range of products. By offering several flavors, a customer can choose from a wide variety of products. For example, a company selling deodorant can have two or three flavors. Many marketers confuse the issue by offering too many choices. While it’s understandable to have several varieties of a product, it’s better to make one product stand out from the crowd. Inexperienced marketers often complicate their marketing campaigns by offering too many options. Creating a memorable experience for the consumer is the most important goal of marketing.