Why Converting Too Fast Isn’t Necessarily a Good Thing
Conversion rates are a vital component in the online marketing realm. If you have a desired product or service, chances are you will gain attention, however the ability to retain these individuals can be the challenging part. We all know why conversions are a good thing, but let’s take a look at some potential reasons why converting customers too fast may not necessarily be positive.
Why Can Converting Too Fast Be Bad?
It can be bad because customers who convert too fast tend to leave earlier than the ones who spend more time on your website. Since what you want to attract is high quality customers, slowing down the "sign up" process is what you should do.
Leads that convert too fast are from people who made little research about your product. It is often after having signed up that they realize that your product doesn't exactly answer their needs/expectations. Aside from lowering your Rate of Returning Visitors, these "bad customers" also generate negative reviews for your products.
The way to avoid it is by creating high quality customers. This can be done by offering them the right information at the right time. Indeed, by slowly educating the customers with the right material at different stages in the sales funnel, you are able to curate the list of leads and only keep high quality customers.
Here is a guideline about the content that should be found at each of these different stages.
Stage 1: The Customer clicks on the Banner
The person who clicks to access your website, also called a lead, doesn't click to sign up, but to learn more about your products. At this point, you should give the lead the chance to see:
· A video that describes your product
· A list of your product's feature
· A testimony from past customers
· Articles from external sources about your business/products
Second Stage: The Lead Comes Back and Become a Prospect
At this point, the lead is now considered as a prospect. Since he already has an idea of what your product is about, at this stage you want to give him something more- the chance to experience the product. You give the prospect the chance to:
· Have a free trial
· Sign up for a webinar or tutorial about the product
· Talk with an agent
· Get a quote
Third Stage: Congrats, you have a customer!
At the third stage, the prospect becomes a customer, but this doesn't mean that you can sit and relax. Retaining the customer also requires work. And it is becoming even more crucial since we are moving away from a Software as a Product model towards a Software as a Service model. You have to set a few strategies to make this happen. This can be accomplished by:
· Asking the customer for feedback
· Constantly innovating and improving your product
· Keeping a healthy relationship with the customer