Canadian Business Success Symposium
The Key is to Convert
There is more startup business in Canada than ever before, and the unemployment rate is dropping according to recent surveys. Eager entrepreneurs and wealth seekers are starting small, medium and large companies all over the country. Their goals are to build a large following, both on the ground and online. However, many business owners simply get blindsided with all of the details of building the online part of their plans.
Business owners will often start their marketing plan with a goal to build a large email list. Using funnels and giveaways, they begin finding cold leads to start warming up toward the conversion. This article will show you why having a bigger list is not always the best idea; especially if your business intends to convert leads to sales.
Following the Leaders
Over the years, many modalities have been circulating that guide small businesses and eager entrepreneurs on the best methods for making money. Building a “list” is defined as having an email opt in sequence that attracts people to give their email address. This is called “warm up”. What comes next is the stringent process of sending out information to the list, convincing enough to get the yes to buy.
The Bigger List takes Time to Build
Time is the most precious commodity for business owners and entrepreneur. Building a large list that actually converts to a sale or deal closing takes time and effort. In fact, entrepreneurs claim that they have not built their funnel or email list to more than 1 or 2 thousand in a span of years. Now, how is this going to result in money for your business? The answer is that it will not make money for your business.
Buyers are Changing their Behavior
There was a day when an email list of any size would result in people opening the email, clicking the link and buying the program or product. Today, some business owners have over 10,000 unread emails in their inbox. Creating a program that closes the deal for you, that includes an email sequence, is a better idea. New entrepreneurs should look at the total concept of taking a lead from cold or interested, to red-hot and ready to buy. Marketing means nothing if money is not the end result.
Closing Leads Counts
Let’s face it, you are in business to make money. Each time you send out an email, it should be in a condition to close the deal and quickly. Let’s look at one very new method of lead generation and visibility-building that works just as good as an email list, and often close leads faster. The faster a lead goes from interested to “Sign me up NOW”, the more quickly your company will make more money.
Facebook Bots (The New Kid on the Block)
Have you ever visited a business page on Facebook and sent a message? Did you see an automatic message quickly come up? This is what’s called a bot. They are cleverly programmed by the business owner to seem like an actual person is responding. This is a very modern way of warming up leads. Often the last question of the bot sequence is “Are you ready to sign up?”. A simply reply of yes, takes the visitor to a website landing page to sign up for a program or server. And, this same bot can take a visitor to an opt in for the email list sequence.
In this situation, you are getting a huge benefit for visibility and lead conversion. First, you are able to see the person from the Facebook lens. You can reply to them on their Facebook, thank them personally and retain more data than having them simply come through an opt-in form.
Business is about Making Money
Big lists are not as successful as they once were for the simple fact that there are now billions of people in the social space compared to thousands when email lists were more successful. Savvy business owners will take the risks to learn the new modalities that actually result in money. From a $5 a month newsletter membership, to a $10,000 coaching program, the more sales – the more money.
Take some time and assess your business protocol for ways you can reduce the time spent trying to close leads from your list and start looking at new methods of generating money from your efforts.