Do you want to double your conversions in half the time?

The #1 problem businesses face these days is that their customers have too much choice… Smartphones provide quick and easy access to the global marketplace and everything customers need to make a purchasing decision….

And any business is just 1 needle in a haystack… This has already cost the industry billions of dollars and counting. It’s making it harder to convert, compete and influence…

So what can you do to hack this problem and make sure you stay on top of the game? Find out in this week’s video…

Cheers,
Silvia

PS: I’d love to hear how you are hacking this in your industry. Comment below the video to let me know!

Video Summary

  • In this video, Silvia Myers shares a couple of secrets on how to double your conversions in half the time
  • Back in the 70s, 80s and even 90s and early 00s, customers were making purchasing decisions in store and the sellers had the ultimate power and huge opportunity to influence customers’ purchasing decisions
  • However, the way people shop and make purchasing decisions has completely changed since the iPhone came out and this change in customer behaviour has cost the industry billions of dollars and counting
  • Sellers no longer have close control over customers’ purchasing decisions and it’s customers who hold all the power
  • Thriving businesses that are smashing it out there have embraced the way people shop today and with a couple of small tweaks, you can do that too!

1 Comment

  1. Tammy Nguyen

    Hi there! I just started the women’s clothing online store. I tried to get people followed or like and buy my products. But so much competition. Can you help me that I am doing right or wrong or what should I do

    Reply

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Video Transcript

See the full transcript (click here to expand)
The biggest problem business face these days…

The #1 problem businesses face these days is that their customers have too much choice…

It sounds scary but frankly, ever since the iPhone came out onto the market over 10 years ago, customers have everything they need to make a decision in their pockets….

It’s easy to look up a provider, it’s easy to check reviews, look up other options, decide, purchase…

To be completely honest with you, customers can decide that they don’t like you without even ever meeting you in the first place…

This behaviour alone has already cost the industry billions of dollars and counting…

So what do you need to do? Let me tell you in just a moment…

Hi, I’m Silvia Myers, thank you so much for watching. I’m a consultant speaker and entrepreneur working with people who want to get better results faster.

Whether that’s earning more revenue, reducing costs, accelerating conversion rates, doubling margins or generating a fast-growing tribe of happy customers.

I help them succeed through proven tools, strategies and mindsets that are simple to action, easy to digest and have been applied by some of the biggest and best brands on the market.

Why is this important…

Ok so what we’re talking about here is how people make their decision to become your customers, to buy or not to buy…

Let me take you on a little time journey and explain a little bit about how us humans think, compare and make purchasing decisions…

Can you remember how people used to buy a stereo? I couldn’t so I went to ask my dad…

The old customer purchasing journey: Awareness / Store / Information / Purchase / Word of mouth

What he told me was that it was a very exciting and a slightly complicated process… He’d hear from a friend that there is some super cool stereo that the friend’s neighbour has and once he’s put some money together, he went to browse the stores. He’d usually choose the biggest store because they had the most items in there. First, he’d just browse through the aisles love the fact that he’s alone with his gadgets and admire the different features of what was on display. Then, he needed a little more advanced knowledge so he would finally speak to the shopkeeper who would answer the questions he had. Based on that and based on the price (sometimes with little negotiation- depending on where you were based), he would walk out with a stereo and run home to get it all set up. How exciting!!

That’s how it used to be… the golden era of the seller as we refer to it in the industry…

So let’s see how people buy their electronics today….

My husband and I went to JB-HiFi the other day (his favourite store) and there was a young guy who walked in and then in 5min he was walking out with a brand new macbook worth over $3,000.

Now think about it – you didn’t think that he made that decision right there and then, do you?

No of course he didn’t!! He made that decision long before he walked into the store and in fact before he even walked into the store, he knew exactly whether that item is in stock or not and whether he’ll be able to push down the price…

So why am I telling you this? People make their decisions the same way as they’ve always have- they need to know what they’re interested in, research, compare and choose what best fits their criteria.

None of that has changed… what has changed though is WHERE they’re making this decision and whether YOU can influence it or not.

So how does this customer purchasing journey look today?

The current customer purchasing journey: Awareness (online or offline) / Proactive search (online) / Reputation (online) / Conversion (online or offline) / Customer Advocacy (online)

So what do you need to do?

Firstly and mostly your product or service needs to come into people’s awareness.

Then, you need to make sure that you’re easy to find when customers are looking for you. If they can’t find you, if you don’t have a great online presence you might as well not exist… It hurts to say that but it’s the truth… So this is where your SEO optimisation and things like that come into place…

After that, you need to make sure that you have POSITIVE customer reviews. That there are reviews customers want to read and reviews that help them make a favourable decision towards your brand. If you have bad reviews, that’s ok too as long as you make sure you respond appropriately.

Then comes the transaction point. You need to make it easy for your customers to give you money. Easy as that. If you make it too difficult, they’ll buy elsewhere…

And now comes the most important part… You have to make sure that you deliver to your customers what you promised. That you manage their expectations… Why? Because if you don’t, you won’t get a positive review and when the next customer is checking your reputation, they’ll simply decide to go elsewhere….

Thanks for watching and I’m keen to hear how you’ve been hacking your conversion rates and doubling your results!

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