Why Your Conversion Rate Doesn’t Matter

This Matters MORE Than Your Conversion Rate

Conversion rate doesn't matter as much as you think.
What could matter more than Conversion Rate?

“So what’s your sales conversion rate?”

If you’ve been around the marketing game for any significant length of time, no doubt you’ve either heard somebody ask that question, you’ve been asked that question or you’ve seen somebody talk about their sales conversion rate, right?

Sales conversion rate is what percentage of visitors to your marketing campaign actually purchase the product.

If you had 100 visitors and one person bought, that’s a 1% sales conversion rate and from the beginning of time, marketing time, everybody has been taught to focus on improving sales conversion rate but here’s the reality.

This Single Piece of Advice From Mark Ford Changed Everything

This Turned My Marketing Career Right-side Up

That was one of the big game changers…

One of the moments that I really forever changed my journey as an entrepreneur, as a marketer –

I was blessed to be introduced to Mark Ford.

Mark is really the mastermind, the marketing mastermind, behind the Agora companies –

Which is about a one and a half billion dollar a year direct response company and they had grown fast and big…

And so I was sitting down with Mark and I asked him –

“Mark, what has been responsible for Agora’s growth?”

This Is Why Your Product Or Service Isn’t Making Any Sales

To Make More Sales, It’s Not Just What You Know

When you’re designing your marketing message, you really have to know who you’re talking to.

You have to know your audience.

In terms of direct response priorities, we’ve learned that list, offer, copy, right?

To make more sales, know your audience.
“Know Thy Audience.” The key to making more sales.

List is the audience.

The audience who you’re talking to can…

THIS Is How To Acquire Customers In 2019

https://youtu.be/JXD_2uNMqBg

Pro Marketers’ Business Growth Strategy

If you’re operating your business where you are trying to generate profit on the front end, meaning you’re not looking at…

You’re not seeing a difference between front end and back end, you’re treating them both the same –

You’re thinking very transactionally…

You’re just trying to generate a profit on every single sale including the front.

The danger to you in operating that way is first and foremost that, what you are able to invest to generate new customers is much lower than the pro-entrepreneur, than the pro-marketer.

Growing your business depends on how much you can pay for a customer.
Growing your business depends on how much you can pay for a customer.

Meaning, if a customer’s worth $100 to you and you want a 50% margin, you’re only able to invest $50, right?

You’re only able to invest that 50%.

But a pro-marketer is willing to invest $60, $70, $80, even all the way up to $100.

Even if that pro-marketer invests the full $100 in this example, they’re still acquiring a customer for free.

See, if you’re trying to generate a profit on the front end, you are vulnerable.

You’re vulnerable because…

You are trying to go up against competitors that are able to spend significantly more than you and all else being equal, all else being equal, he or she who is willing and able to spend the most to acquire a new customer will win the game.

Imagine if you’re only willing to spend $50 to acquire a customer and somebody else is willing to spend $100.

Imagine the difficulty that you’re going to have trying to compete against them, trying to win that game.

For the person that’s able to and willing to invest $100 to get a customer, they can use more traffic channels than you can, they can do things and deploy certain types of marketing that you can’t because it’s too expensive for you based on your desire to generate a profit on the front end.

As well, you have to recognize that the cost of driving traffic, media buying costs, are only going to continue to increase.

They’re already increasing and if you are kind of, if you are stifling your ability to invest the maximum amount to acquire customers, you’re going to reach a point where you’re not going to be able to afford the media buying costs anymore.

See the game really is this –

You Want To Be Able To Spend Or Invest The Most You Can To Acquire Customers

The game is not for you to try to figure out how can you spend the least.

The game is to try to figure out how can you try to spend the most.

Spend more money to gain more customers.
How much can you spend to gain a customer?

Like I said, even if you generate zero profit, you sell a $100 product and it costs you $100 to acquire a customer, you’ve just acquired the single most valuable asset in your business for free.

Your bank account is no less than it was two days ago, right?

Your bank account is the same only now you’ve got a new customer.

A new customer that you’re going to put into your back end which is where you’re going to see the second sale, the third sale, the fourth sale, the fifth sale which is where all the money is.

The profit is in your business.

That’s why you don’t want to operate the way the typical entrepreneur does where you’re trying to generate a profit on the front.

You want to make sure that your business model is nailed, that your marketing model is nailed so that you too can acquire the maximum amount of new customers so that your business can grow fast and big.

So if you found this post valuable, I’ve got a book that you’re absolutely going to love.

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  • How to create demand for your product or service where it didn’t exist before without making the “average marketer’s mistake”
  • How to establish the beliefs your prospects need to have in order to buy from you
  • The #1 deal-breaker in your marketing campaign, no matter how good your headline or ad copy is
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This Is The ONLY Job For Your Marketing

What’s The Purpose Of Marketing?

Peter Drucker, one of the greatest management gurus ever, said –

“The job of marketing is to make selling superfluous, to make selling unnecessary.”

An effective marketing argument makes selling practically unnecessary.
Effective marketing makes selling practically unnecessary.

This idea really opened up, first and foremost to me, the fact that marketing and selling are two completely different activities.

What’s The Difference Between 6 and 7-Figure Entrepreneurs?

This Is The Difference Between Big Earners And Average Entrepreneurs

The difference between the big earners and the average, the entrepreneurs that struggle and the ones that just knock ’em dead is really not what most people think.

Successful entrepreneurs don't wait around. They take action.
What’s the difference between average and successful entrepreneurs?

There’s no magical skill set.

There’s no magical aspect of discipline or mindset or intellect or genius that the high seven, eight figure plus earners bring to the table.

The big difference is this:

The Most Important Question When Marketing?

Everything In Your Marketing Should Be Designed For One Purpose…

Everything that we do, and say, and show, and present in your marketing campaign is designed to do one thing –

And that one thing is establish that marketing thesisis make sure that your prospects have that one belief.

The Big Marketing Idea establishes one belief in your prospect's mind.
The job of your marketing thesis is to establish the “one” belief your prospects need to get them to buy.

See, really, the whole marketing campaign, the marketing message is all about: