Tuesday, 31 December 2013

the marketing in internet marketing

first post:i suspect it will be full of errors but enjoy nonetheless We often focus most of our effort on getting traffic but we often overlook taking more time to work on getting better than expected conversion rates. Personal selling often trumps internet marketing conversion rates, so this reinforces the idea that more traffic = more sales in internet marketing. While this may be true, we seem to have forgotten that internet marketing is a selling process. A process where your supposed to build a relationship with a lead/prospect to the point where they buy from you over and over again. Few internet marketers regard it as a business and thus build something short term that often doesn't last. Building a business is about providing your customers with value, rather than just trying to get a quick buck from them. Even in list building you get a few marketers that actually provide value, most of them just blast offers or offer "low quality" freebies to keep their list happy. So while the more traffic = more sales maybe true in some cases, its not always true. It all depends on your conversion rates, since better conversion rates = more sales is always true. for example marketer A(100% conv rate) with 1000 leads is better than marketer B(1 % conversion rate) with 10 000 leads. marketer A has more sales but his conversion rate implies that he has a better relationship with his leads and has a better chance of getting referrals. So what really influences conversion rates?, according to brian tracy here : http://www.briantracy.com/blog/sales-success/improve-your-sales-process-4-factors-that-influence-decision-making/ he says its Perception and the Sales Process,Testimonials,Credibility and Satisfied Needs. Once the prospect is convinced that the product will add value to their life and have a sufficient amount of trust then they buy. That is why i say relationship building is important, once the prospect feels like they like you they will be more likely to buy from you. This is where internet marketing goes astray as it is a bit impersonal. This leads me to the conclusion that selling via a webinar is better as you can better build a relationship with the prospect within the sales funnel