Increasing conversions is the primary goal of any business owner or marketer. Everything you do revolves around generating new, high-quality leads or purchases to increase sales and revenue. Without effective marketing, a business dies. So how do you get more conversions?
Flint McGlaughlin, CEO of MECLABS Institute created the Conversion Sequence Heuristic to help marketers and business owners use a mental checklist as a framework to guide their marketing efforts.
This heuristic is C = 4m + 3v + 2(i-f) – 2a
Let’s break down what this means:
“C” equals Conversion. This is the end goal of the heuristic and your goals. While you can’t guarantee a conversion, you can increase the potential of the probability by following the rest of this formula.
“4m” stands for Motivation, and is given the highest numeric value because a consumer’s motivation is the driving force behind conversions. If you have a poorly designed website or a difficult sales process but you have the best product offering – a users motivation will outweigh all other considerations
“3v” is the Value Proposition of your company. This answers the question “why would I buy from you rather than someone else?” If you sell the same or similar product or service as another company you’re competing for the same group of Motivated buyers, so your Value Proposition needs to differentiate you
i-f is “Incentive minus Friction”. The incentive is defined as what the consumer receives from working with you i.e. a product, fast shipping, a free quote, a free gift, etc. Friction is the “cost” associated with receiving the intended incentive. This can be due to difficulty using your site (it’s out of date or poorly designed), your form is overly complex, or you’re asking for too much information so the value difference between the incentive and how difficult it is to obtain is vastly different
This represents the Anxiety of working with you. There’s nothing you can do to entirely eliminate anxiety but you can mitigate its influence. Update your site, ensure you’re using a SSL, provide your contact information so that it’s easy to find, respond to reviews, etc
Remember, you can’t guarantee conversions but you can absolutely take control of your company’s destiny by implementing this conversion heuristic. Reach consumers at the moment of highest Motivation by using targeted marketing tactics, ensure you are communicating the high value of your Value Proposition, provide an Incentive while reducing Friction, and decrease Anxiety by using modern design, open communication, and ensuring you treat your consumer’s private information with respect.
#digitalmarketing #conversions #smallbusinessmarketing
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