why your conversion rate is a liar and thief
TRANSCRIPT
Why Your Conversion Rate Is a Liar and a Thief
There is a 95% failure rate for small businesses owners
5% of the people you talk to actually know what they are doing.
The most valuable lesson you can learn from the 5% is this...
Conversion rate fattens your ego, but average order value fattens your bank
account.
In your early days as you grasp for any amount of success or revenue you can touch, you’ll be lured into a high conversion rate or high click through rate on your ads.
IT’S A TRAP!!
Click through rate and conversion rate are thieves that prey on human greed
A higher conversion rate does not guarantee revenue
A page that creates curiosity with a high conversion rate will not generate as much revenue as a page with a lower conversion rate and qualifying leads
What The 5% Focus On That The 95% Don’t
Cost per action and average order value The way you win is by reducing your cost per action
and increasing your average order value. The gap between them is your ROI. As costs go down
and earnings go up your ROI grows. You don’t win at business by having the lowest costs. You
win by having the highest earnings Focus on increasing how much each customer spends
with you and the costs will take care of itself. When you can afford to spend more money on marketing
than any of your competitors you will crush them all.
Welcome to the 5%!