How To Make More Money At The Point Of Conversion
There’s a well circulated understanding in the business world that the best source of increased revenue is your current customers. It’s harder to acquire a new customer compared to selling more to existing customers. The psychology behind this explains that your existing customers do not face the same level of resistance because they have already taken out their wallets and bought from you and experienced what you offer. Those who were satisfied will be eager to buy again.
While not quite as powerful as selling to a converted customer, the next best thing is selling to a person currently in the point of conversion.
Action Taken
The point of conversion is any time where a person has taken an action and interacted with your website. While it’s preferable that the conversion action is a purchase, it can also refer to an opt-in for something free. The point of conversion is also a point of escalation, transforming a visitor into a prospect or a prospect into a customer.
A similar psychology is at play at the point of conversion as to selling to existing customers, because the person has taken an action and therefore more likely to take a second action and even a third action.
Let’s look at some classic examples of how to take advantage of the point of conversion to generate more dollars.
