- by Rory Ramsden
No doubt you will have come across the concept of “Visitor Value” in relation to attracting partners to promote your product launch. Monitoring the steady increase in the value of each visitor to your site will ensure that…
- You can judge how well the optimization of your sales funnel is going – The more money you can make from people coming to your website, the better it is for you . Just in the same way as if you ran a shop, the more money your average customer spends the better.
- And it will convince potential partners that they will make money – The more proof that you can provide, the more credibility you will have and the easier it will be to attract quality affiliates to promote your product launch and actually mail for you.
So what can you do to boost visitor value to your product launch website?
There are three techniques.
- Sell to more people when they land on your site by increasing your overall conversion rate
This is all about optimizing your sales funnel by testing different elements of your landing page. It could be as simple as changing the color or the font, you are using in your headline. Then you could consider changing the opt-in magnet that you are using.
Tip: Start by testing the big things. You could spend a lifetime on this process so remember that “perfection is paralysis’ and ‘What works for someone else may not work for you.
- Sell more things to customers on the back-end
Check out Amazon.com. They have obviously spent a great deal of time working out how to squeeze every last red cent out of their sales funnel. This is a case study which you should do your best to emulate. If you can generate backend sales to your existing and future customers you will significantly increase your visitor value which can put you in a very strong position when it comes to buying in web traffic.
Tip: The most expensive thing you will ever do is attract a new customer so once they have taken out their credit card to buy, offer them additional products that are complimentary. These could be more expensive – up selling – or about the same price – cross selling – or even less expensive – down selling.
- Sell additional products to them later on…
A list of buyers is worth 10 times, the value of a list of prospects. They have taken out their credit cards. They have taken action. They are not just tire-kickers. After your product launch, these buyers should still be ready to respond to new offers that are relevant and provide real value.
Tip: The amount of business you get from these buyers over the lifetime of your business relationship – lifetime value – with them determines how successful your business is.
So let’s look at the benefit
Knowing your visitor value will allow you to buy traffic cost effectively and even more aggressively. You know how much you can afford to pay and still break-even. PPC traffic is probably the fastest way to test your conversion rate. Remember that these visitors will arrive on your site practically ‘cold’ so if you are getting a good response, think how much better it could be when you execute your product launch.
But there’s another benefit too, a big one.
Joint venture partners and affiliates will want to promote your new product launch to their lists too. They will be able to quickly and easily calculate how much money they are likely to make. They will have more confidence and trust in you and your product because you can prove using your website metrics that your landing page really converts visitors into sales.
That’s why it is so important to start your series of product launches with a small beta launch to just a small portion of your list. This allows you to test your systems, tweak what you have to and then move on to a full internal launch. Remember to get feedback from your new customers each time. You can then do some more tweaking and optimization.
When you finally get to that big external product launch with a jumbo jet full of people promoting for you, your systems will be ready to take the load and your partners will be happy to work with you again because they made the money they expected to.
Knowing your customer value is a key metric in your product launch marketing strategy...
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