Technology has made it super easy for just about anyone to start a business online. But with that ability, the quality and success rate of ecommerce has declined just as rapidly…
And when analyzing the failures of our clients, we have found 5 simple mistakes that are almost always the cause. These are the 5 Mistakes Preventing Companies From Growing Cash Flow.
1. You don’t know your Customer Avatar
A Customer Avatar is vital if you want to target the prospects that will be the most responsive to your marketing efforts.
This means higher converting campaigns and lower advertising costs…
A Customer Avatar is a profile that we create with our clients to determine their ideal customers’ demographics, desires, and method of advertising.
This Customer Avatar is so powerful because it’s the blueprint to discovering your audience’s hidden fears and secret desires – and identifying the hot buttons that will be crucial to creating your content and your promotional offer.
But there’s more…
2. You don’t have the proper Lead Magnet
Your Lead Magnet is the most important piece of your marketing equation.
It’s the one thing that converts your website traffic into email subscribers – which will enable you to follow up and nurture them into becoming paying customers.
A Lead Magnet is an appealing bribe that gives a specific chunk of value to a prospect in exchange for their contact information – usually an email address.
And a good Lead Magnet can save a bad Landing Page, but a good landing page will never save a bad Lead Magnet.
But we’re not done yet…
3. Your website isn’t designed to convert Visitors into Subscribers
Highly converting websites follow a proven blueprint for structuring Landing Pages.
We use a 16-point landing page checklist with our clients to ensure that every page we’re driving traffic to follows this blueprint.
It allows us to consistently convert 30%-50% of the people that visit into subscribers.
And our team of copywriters and conversion experts are available at our clients’ disposal to continually improve their ad copy, website flow, and results.
4. You don’t have the proper follow-up systems
Email Marketing is responsible for generating 3,900% ROI for small businesses.
That means that you should be following up with your customers on a regular basis to provide them with valuable content and let them know about special promotions.
Otherwise you’re leaving some serious money on the table…
We segment our clients’ email subscribers in multiple categories depending on their:
- Topic of interest
- Buying mode
- Current level of engagement
This prospect segmentation allows us to personalize communications and focus on the 20% of your customers that are producing the 80% of your revenue.
5. You don’t know your cost to acquire a lead
Knowing your numbers is absolutely necessary if you want to automate and scale your customer acquisition online.
If you know how much it costs to acquire a lead then you have valuable information that can be used to determine your ideal marketing channels and how much you’re able to spend in order to get new prospects.
My team and I use Google Analytics to setup dynamic tracking systems to determine which traffic sources are producing the highest quality leads.
And there you have it. These are 5 of the most crucial elements to focus on if you want to achieve predictable and consistent growth in your business. If you marketing efforts aren’t as profitable as you’d like, be sure to review these common mistakes for improvement.