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How to have your prospects feel obligated to buy from you...by giving them a free gift card
While getting into Facebook marketing, I realized that I am targeting prospects that are not "in the buying mood" like they would be on Amazon or searching for a product on Google.
There has to be a way to increase their engagement and get them more likely to buy from us.
I was reading a post on an affiliate marketing forum where they used surveys to increase the engagement of prospects and this resulted in a higher conversion rate for their offers.
(Hint- Make sure the last few questions on the survey have the answer 'yes' to get them into a 'yes sequence' and ultimately say YES when you ask them to buy from you.).
I decided to take this strategy a step further for selling products fastlaners own and have control over (non-affiliate).
Think of every time you have a gift card (best buy, home depot, applebees, etc.)...do you ever feel obligated to spend it? The answer (whether you know it or not) is yes, because subconsciously we view it as "unused money" if it's just laying around. And whenever I spend a gift card at best buy, I wind up spending more than the gift card is worth, and they profit from me.
Instead of creating a "discount today" in your online sales copy...give your prospect a gift card that they subconsciously feel obligated to spend (and when they do, you keep your profit margins there).
Requirements:
Lets assume you have a product that costs $5 to manufacture and ship to your customer, and you sell it for $20.
Steps:
So now:
One thing that I would like to test out is to collect their information and send them an actual/physical gift card for an online product instead of a digital gift card (coupon code) at the end. The physical gift card will increase that obligation to spend money at your online store.
A specific case study for this strategy will be posted at a later date.
While getting into Facebook marketing, I realized that I am targeting prospects that are not "in the buying mood" like they would be on Amazon or searching for a product on Google.
There has to be a way to increase their engagement and get them more likely to buy from us.
I was reading a post on an affiliate marketing forum where they used surveys to increase the engagement of prospects and this resulted in a higher conversion rate for their offers.
(Hint- Make sure the last few questions on the survey have the answer 'yes' to get them into a 'yes sequence' and ultimately say YES when you ask them to buy from you.).
I decided to take this strategy a step further for selling products fastlaners own and have control over (non-affiliate).
Think of every time you have a gift card (best buy, home depot, applebees, etc.)...do you ever feel obligated to spend it? The answer (whether you know it or not) is yes, because subconsciously we view it as "unused money" if it's just laying around. And whenever I spend a gift card at best buy, I wind up spending more than the gift card is worth, and they profit from me.
Instead of creating a "discount today" in your online sales copy...give your prospect a gift card that they subconsciously feel obligated to spend (and when they do, you keep your profit margins there).
Requirements:
- Coupon code in payment processor (or a physical gift card)
Lets assume you have a product that costs $5 to manufacture and ship to your customer, and you sell it for $20.
Steps:
- Create an advertisement for a $10 gift card in exchange taking a quick survey (according to the initial case study, people assume it's a scam if you advertise a free gift card).
- Have them answer a few questions that will get them in a yes sequence towards the end.
- Present them with a $10 gift card upon completion. (Create urgency - only valid until 07/29/2013)
So now:
- You engaged your users with your brand.
- They will feel obligated to spend this gift card.
- You still profit off of the order ($5 in this case study)
One thing that I would like to test out is to collect their information and send them an actual/physical gift card for an online product instead of a digital gift card (coupon code) at the end. The physical gift card will increase that obligation to spend money at your online store.
A specific case study for this strategy will be posted at a later date.
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