An 80% Sales Conversion Rate on Your Offers? Here’s How to Do It.
If you aren’t doing email marketing this way, you’re investing in your competition. Here’s why email marketing is the most effective way to pump up your sales conversion. Now, there are two ways to do this; the standard way or the right way.
Standard email marketing involves sending an email and waiting for a response. You use cold email marketing to contact a prospective client and then follow up with multiple messages. If you have your own contact list to market to, then cold email marketing works well. A company which builds and manages lists of potential prospects can assist you if you don’t have contacts.
The benefits of cold email are most apparent for business-to-business (B2B) companies because personal emails are less likely to elicit a response than ads on platforms like LinkedIn and Facebook. It’s critical to write cold emails that are short and to the point, while still being professional. The most successful cold emails also include a call-to-action that encourages the recipient to respond.
First, let’s define cold email marketing. What is cold email marketing? It’s a personalized outreach to a lead that has fit the qualifications for your marketing goals. It’s different from spam in significant ways.
Cold email marketing is targeted and personalized. It’s like looking up a prospective lead in the phone book (remember those?) and contacting them with a quick call. The initial goal isn’t to sell them anything, it’s qualifying them as a valid prospect.
This is a very important point. DON’T sell strangers by email. It’s really about making an initial connection. Once you make that connection, the contact is no longer a cold call. So, if we aren’t selling anything on that first cold email marketing, what are we supposed to be doing?
It’s simple. You are asking the people to make an initial connection. Here’s an example;
Subject: Hey, got a quick question…
Hi Phil,
Congratulations on your new startup in town. Now that you’ve spent some time getting All-Star Electronics going, I wanted to officially welcome you with a complementary 15-minute mental recharging session at our spa.
Sounds off beat, I know. But we’ve been helping many of our fellow business owners in the area reduce the stress and tension of the day-to-day grind for years. Just ask some of your neighbors how a 15-minute mental recharging session has positively affected their productivity. Would you invest 15 minutes to gain a significant productivity boost?
Click the link below to review our local testimonials and receive your free introductory 15-minute de-stressing session! Think of it as our way of saying “welcome to the neighborhood”.
Thanks,
Owen
Orange Moon Massage and Day Spa
What you’ve just read is a sample cold email from a massage studio that uses this approach to build a solid clientele in their city. This one email example has kept their appointment app full most days. Yep. They have a booking app as well.
Creating an email template that allows you to customize the message is very simple. The hardest part for people who start this process is generating the email list. The format is very straight forward and contains five parts.
· Subject line.
· Custom compliment.
· A simple case study or example.
· Call to Action.
· Email Signature.
Cold calling can be very effective if it is done correctly — and very ineffective otherwise! Use the tips below as your guide when deciding whether to use cold email marketing for business to business contacting.
In order to make cold email marketing work for you, your company will need to be prepared to execute the process correctly. You’ll need four components:
· An offer that doesn’t cost the lead anything.
· A specific target market that is defined by their collective need, want, or desire.
· Examples of past success using your solution to their problems, hopes, or goals.
· An email pipeline that captures their information for follow-up messages.
These components make up your email marketing lead generation funnel. It’s a thing of beauty when put together correctly. There’s no hard sell, no badgering prospects, and no begging. When a prospect responds by taking action, the automation moves them along the pipeline.
The Follow-up; Why it’s the Most Important Step in the System.
The average online sales presentation converts at around 2%. That’s right. So when a prospect lands on your website, there’s a 2% chance that they will buy from you right there and then. That contact (or touch, as the sales pros call it) is just the beginning of the process.
The National Sales Executive Association did a study on this to get the numbers on record. Apple Store did so as well. Here’s the result of the NSEA study. According to the report, there’s a direct correlation between the number of contacts and the percentage of prospects who convert to sales. Their findings are:
Contact #1= 2% sales conversion.
Contact #2 = 3% sales conversion.
Contact #3 = 5% sales conversion.
Contact #4 = 10% sales conversion.
Contacts #5 -12 =80% sales conversion.
The Apple Store study found that most sales occurred after the 6th contact. That means if you’re spending a lot of time trying to sell your product or service online without a follow-up procedure, you are doomed to fail. Or at least giving your competition a lot of business.
The same is true if you are sending cold email without a follow up strategy. One reason I teach the no selling-on-the-first-contact rule, is that the 2% conversion isn’t worth the effort. I’d rather see a lead become a prospect by giving me the chance to develop a conversation and a relationship.
If someone is ready to buy from you without getting to know the value of your business and your offer, they’ll be just as happy going somewhere else. A prospect who reconnects after a few encounters is more likely to decide based on value, not just on price.
Sure, there are exceptions. Now, is it worth the effort to build an email marketing system based on cold emails? That depends on your CLV (customer lifetime value). Email marketing is one of the most cost-effective systems out there. You can create a full blown email funnel for both prospecting and customer maintenance. Email marketing has proven to increase CLV when applied to customer maintenance.
The marketing gurus keep saying that the money is in the list. Well, with a growing list of prospects and customers, you can keep your company busy for quite some time. Email marketing is still one of the most cost-effective methods for communicating with the marketplace. Are prepared to execute it in your business?
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