Thursday, June 12, 2008

It's Really About Consumption

Today's Marketing Tip: Traffic + Conversion = Customers

Increasing traffic to your site and focusing on conversions generates revenue. In fact, focusing on bothy sides of the equation can result in consistent growth for your business.

But what if you could do more? Sell more, more consistently and for a much longer time?

Yes! Sell a lot more to the same people without much more effort, time and especially money? Wouldn’t it be fantastic to have your bottom line profit increase by as much as 20%, 100%, 500% or even more?

There is one more significant factor for the equation above that can lead to more sales and more customers over a longer time, for more frequent and multiple purchases, and higher-price, back-end for exponential profits.

It’s the strategy of CONSUMPTION.

Consumption can be defined as your customers actually using what they buy from you and experiencing the benefits of what you offer.

Think what the perceived value of your product or service is if it is never used, consumed, experienced or shared with others.

What if the majority of the market place was made up of:

  • Golfers not using their special training devices to improve their swing
  • Gardeners storing that special weeding tool in their sheds
  • Dieters failing to cook up your recipes or implementing your exercise regime to shed those extra pounds, or Personal development seekers never actually opening
    up the box of CDs or DVDs delivered to their house!

Consumption leads to you being able to:

  • Reduce buyer’s remorse
  • Lower your refund rate
  • Brings additional purchases
  • Track your most successful offers (to repeat them)
  • Encourage greater loyalty
  • Inspire more testimonials (you can use
    to further increase sales, right!?
  • Get more referrals by your current clients
  • Demonstrate value and a tangible asset to
    possible buyers of your company
  • Conserve on your future sales and marketing costs
  • Stabilize your income and stop those dreaded
    ‘feast or famine’ cycles

If you can’t get your customers to consume, use, try, implement, play with, work with or turn on your ’stuff’ then you haven’t yet transformed them from ‘customers ’into ‘consumers.’ Think about and consider your own personal consumption strategy.


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