Step 4: Convert

If the subscribers you gain in Step 3 of the journey remain engaged, some of them will be ready to increase their level of commitment. They like the

information you share and have begun to trust you, so they’re ready to invest in one of two ways: either with time or money.

This is a critical stage in the Customer Journey and one that frustrates many business owners. The key to success in this stage is to employ what we call “entry-point offers.” These offers are designed to give the new prospect tremendous value without forcing them to put too much “skin in the game.”

At this stage, to ask for a significant investment in a complex product or service would be asking too much, too soon. You’re still in the early stages of relationship.

In fact, it’s too early even to concern yourself with profitability. That’s right: in this stage of the Customer Journey, you might lose money on the prospects you acquire as buyers.

This is, perhaps, the most important lesson you must learn so it bears repeating:

The Convert stage of the Customer Value Journey is about acquiring buyers or ramping up the commitment level of the leads you already have. It is NOT about profitability.

The most valuable businesses in the world all understand that the costliest marketing activity your business undertakes is customer acquisition. It’s the reason Sprint is willing to buy you out of your Verizon cell phone contract and give you a free phone. It’s the reason GoDaddy offers domains for $2.95, and it’s the reason VistaPrint will sell you 500 business cards for $9.

The goal is to acquire a new customer. Profits come later.

Examples of Marketing That Generates Conversions

There are two types of entry-point offers: those that require a commitment of time, and those that require a commitment of money. Here are some examples:

• The VP of Operations at a large company purchases a high-dollar management consultant’s book for $8 on the consultant’s website.

• A daughter of elderly parents schedules a walk-through visit at the local retirement home.

• A man takes advantage of a $20 teeth whitening service at his local dentist. Notice the price point of each of these offers: from $8 to $20.

Your goal here is not to make a huge profit. It’s to get customers, to shift the relationship between you and your subscribers. Because, as you’ll see, once someone is a customer, it’s much more likely that person will purchase higher- ticket, more complex products and services and do it more frequently.

Remember, one of the costliest (in time, money, resources) marketing activities your business will undertake is the acquisition of customers. The good news is that once you’ve acquired them, you don’t need to pay to acquire them again.

Here’s an example of an offer from GoDaddy that does a great job of acquiring new customers with extremely low-priced domain registration services:

By offering a fantastic up-front deal, GoDaddy easily acquires the customer.

Getting that initial conversion was the hard part. Now they can build the customer relationship to create profits down the road.

Digital Marketing Disciplines That Generate Conversions

To improve conversions in your company, the digital marketing tactics you need to master or hire include:

• Digital Advertising

• Content Marketing

• Copywriting

• Email Marketing

• Search Marketing