8 CRO Quick Wins for Ecommerce Sites

How well does your ecommerce website convert?

On average, ecommerce sites in the United States convert at about a 3% rate.

If you’re hovering somewhere around that number, you might think your website is already optimized for high conversions.

Even if you think you’re doing well, there’s always room for improvement.

In fact, some of the top performing websites, such as the Google Play Store, have a conversion rate close to 30%.

Companies such as the Dollar Shave Club have roughly a 20% conversion rate.

Do you still think 3% is sufficient?

I don’t.

If you have an ecommerce website, you need to constantly make improvements that add credibility to your website. This will help you get more conversions.

For the most part, these changes won’t cost you much money but will bring a massive return.

You could double or even triple your conversion rates in just a few months by implementing some of these conversion rate optimization (CRO) strategies.

Those of you who don’t know how to optimize your ecommerce site for conversions are in luck.

I’m an expert in this space and have plenty of experience consulting businesses about their CRO.

I’ve come up with a list of the top eight ways for ecommerce sites to increase their conversions.

Here’s how you can get started right away.

1. Simplify the checkout process

How long does it take for someone to complete a purchase once they’re done browsing on your website?

Studies show 27% of shoppers abandon their carts on an ecommerce website because the checkout process is too long and complicated:

On average, the number of steps to check out on an ecommerce website is 5.42.

If you’re somewhere in that average range, nearly 30% of your prospective customers think your checkout process is too long.

Think about how much money you’re leaving on the table.

The more steps a customer has to take to complete the checkout, the more likely they’ll abandon the cart.

It gives them too many reasons to back out.

Don’t give them an excuse. Finalize your sale.

Get back to the basics, and narrow down the information you actually need from the customer:

• shipping information
• payment information
• email address to send a receipt.

That’s really it.

You don’t need to know their favorite color or who referred them to your website.

While additional insight may be beneficial to your marketing department, you still have plenty to work with from just those few pieces of information.

Based on the shipping location, you know where the customer lives. You have their name from their payment information. And you have a way to contact them via email.

Now you can send them a confirmation email as part of an actionable drip campaign to try to cross-sell and upsell products based on the customer’s current order or location.

You can even personalize that message since you know the customer’s name.

Don’t force your customers to fill out a form that’s longer than paperwork at the doctor’s office.

Simplify your checkout process and only ask for essential information needed to complete the sale.

2. Highlight items that are on sale

Most online shoppers—86% of them— say it’s important for them to compare prices from different sellers before making a purchase.

It’s no secret price is an important factor when it comes to a purchase decision.

That’s why you shouldn’t hide your discounted items.

Take a look at how Macy’s highlights markdowns on their homepage:

The website is absolutely plastered with buzz words like:

• free
• X% off
• markdowns
• sale

That’s why they are able to get higher conversions than their competitors.

Customers love to get a deal.

Buying something that’s on sale makes your customers feel better about spending money.

All too often I see companies try to hide their sale items.

They would rather sell items listed at a full price.

That’s a big mistake.

Instead, highlight discounted products and services.

You can always try to cross-sell or upsell to those customers later by enticing them to buy something else through other marketing efforts.

3. Display multiple pictures of the product for sale

You shouldn’t be selling anything based on just a description.

Your customers want to see exactly what they’re purchasing.

Make sure your images are high quality and portray the item in question accurately.

Here’s a great example from Lululemon to show you what I’m talking about:

There are six different pictures of just one pair of shorts.

They show the product from different angles and even zoom in on some of the top features like a pocket that’s designed to keep a cell phone secure.

Pictures are much more reliable in relating information about a product than a written description of it.

You can apply the same concept to your ecommerce site.

Sure, it may take you a little bit more time to set up each product.

You’ll have to take more pictures and include additional images on your website.

But I’m sure you’ll notice a positive impact in terms of your conversions after you implement this strategy.

4. Provide live chat support for customers who are shopping

Even if your website is very informative, some customers may still have questions while they’re shopping.

You should set up a live chat option for your site visitors to communicate with a customer service representative.

Imagine someone wants to buy something, but they don’t—simply because they have a question and don’t have a way to get an answer.

Try to offer an online shopping experience they would get inside a physical store, with a sales associate available to assist them.

Look at how Apple does it. They offer a live chat for shoppers on their website, and it looks like this:

They make it super easy for customers to get all their questions answered online.

This is especially important if your company sells products that may need some extra explanation.

Realize not all of your prospective and current customers may be experts in your industry.

Although your product descriptions may be accurate, it’s possible there’s some terminology the customer doesn’t understand.

Rather than forcing them to pick up the phone or do outside research, offer them a live chat. Receiving this type of help can be the deciding factor that leads to a conversion for this customer.

5. Offer multiple payment options

Imagine this.

Someone wants to buy something on your website, but they can’t because you don’t accept their preferred payment method.

This should never be the reason for you to miss out on conversions.

While I realize some credit card companies may charge you higher rates than others, it doesn’t mean you should restrict payment options for your customers.

Try to accommodate as many people as possible.

While I’m not suggesting you need to accept cryptocurrency like Bitcoin, you should be accepting every major credit card, e.g.:

• Visa
• MasterCard
• American Express
• Discover

You should even offer alternative payment options such as:

• PayPal
• Apple Pay
• Venmo

Here’s an example from American Eagle:

They accept nine different payment methods on their ecommerce site.

You need to offer as many options as possible for your customers.

It all comes down to convenience.

Some companies may just accept MasterCard and Visa.

They figure those are popular options, so everyone must have one, right?

But here’s the thing: you don’t know everyone’s financial situation.

While someone may have a Visa, it could already have a high balance on it, forcing them to use a different payment method.

Others may want to use their American Express card or Discover card because they get better rewards there.

And some people may not want to use a credit card at all if they have a sufficient PayPal balance.

The more options you offer, the greater the chance you’ll appeal to a wider audience.

Don’t assume everyone wants to pay with the cards you accept if that selection is limited.

Assume people will find a similar product elsewhere, where their preferred payment option is accepted, which will crush your conversion rates.

6. Have clear CTA buttons

Make sure your call-to-action buttons are clear.

They should be bold, standing out from other content on your website.

You can even put a box around the CTAs, clearly separating them from other text on each page.

Take a look at how The North Face does this on their website:

It’s clear which buttons on their homepage will direct customers to the right page.

Even though they have lots of different options, their website isn’t cluttered, and it’s organized in a professional way.

This makes navigation easy.

Now their customers can find what they’re looking for faster and start adding items to their carts.

Look at how the CTA button changes when a customer views an item:

Now the button is even more apparent because it’s red.

It stands out, so it’s clear what the customer should do.

Don’t hide your CTA buttons.

It should be easy for customers to navigate and add items to their carts.

Big, bold, clear, and colorful call-to-action buttons can help improve your conversion rates.

7. Include user reviews

Consider this: 88% of shoppers say they trust online reviews as much as they trust personal recommendations.

That means nearly 90% of people trust a stranger’s opinion online as if it were coming from their spouses, best friends, or family members.

Furthermore, 39% of people say they read product reviews on a regular basis, and only 12% of customers say they don’t check online reviews.

Basically, this means customers want to see what their peers have to say.

Encourage customers to review products they’ve purchased, and display those reviews on your website.

Take a look at how Johnston & Murphy does this on their ecommerce site:

More reviews means more credibility.

Obviously, you’re going to say only great things about the products you’re selling.

But other customers will be truthful about their experiences.

That’s why consumers trust these ratings and reviews.

Customers share personal stories about the uses of the products they purchased and the reasons for recommending them (or not).

Notice I also highlighted the chat option on the Johnston & Murphy website—a topic I covered earlier.

Don’t be upset if not all your reviews are absolutely perfect.

You’ll get some negative comments.

It happens.

Those negative remarks can actually help you. It shows shoppers your reviews are legitimate.

Hopefully, the positive ratings will largely outweigh the negative ones.

This will help you get more shoppers to convert and complete the purchase process.

8. Add a video demonstration

If your products are unique, include video demonstrations showing how to use them.

Here’s an example from the Training Masks website:

They have workout videos to show people how to use their product to train harder and smarter.

Since this product isn’t something you see every day, the majority of the population may not know how it works.

But don’t think you can’t use videos even if you’re selling something simple.

For example, everyone knows how to use a piece of luggage, right?

Well, that doesn’t stop Thule from including a video demonstration on their website:

The video shows all the hidden compartments of the bag.

It also shows customers how they can adjust the handles and straps and utilize other features.

In addition, you can include a video demonstration highlighting the features that set your product apart from similar products.

Even if you’re selling something simple, like a shirt, a video can show customers the item’s versatility for different occasions, scenarios, or weather conditions.

You just have to get creative.

Conclusion

Your ecommerce site should be making more money.

Don’t settle for average.

Take steps to improve your conversion rates.

You can make subtle changes or additions to your site that will get more people to make purchases.

Start by simplifying the checkout process. You’ll get higher conversions with fewer steps.

Emphasize items that are on sale or discounted.

Include multiple photos of each product from different angles.

Allow your customers to chat online with customer service representatives to answer any questions they might have while shopping.

This will give your customers the same feeling they get whenever they are shopping inside a brick-and-mortar store.

Don’t restrict payment options. Offer as many payment methods as possible to appeal to a wider audience of prospective shoppers.

Your CTA buttons need to be big, bold, and clear.

When placed in proper locations, these buttons can help you get more conversions.

Make sure you include customer reviews for all your products.

These recommendations can encourage others to make a purchase.

Create videos showing detailed explanations of how your products work.

This is the perfect chance for you to highlight the unique features of your product.

These tips are easy to implement, and they won’t cost you much money at all.

Trust me, they work.

You can start applying some of these elements to your website right away.

What have you done to increase conversion rates on your ecommerce site?

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The Ultimate Guide to Generation Z Marketing

Businesses need to look toward the future to survive and thrive.

I’m sure you’ve got an effective strategy in place that targets Millennials or Baby Boomers.

But it’s time to shift your focus to a younger generation.

The term Generation Z describes people born after Millennials.

They may also be referred to as:

• Post-Millennials
• Homeland Generation
• iGeneration

Although there isn’t an exact date range, it typically refers to anyone born after the mid to late 1990s.

That means the oldest members of this generation are in college or just graduating.

The reason why this information is so important is because they are starting to enter the workforce.

With a steady annual salary, Gen Z will now have more buying power.

Extra money in their pockets means marketing experts need to target this group.

There’s a big opportunity here for increased and sustainable growth for your company, regardless of the industry.

That’s why Generation Z marketing made my list of the top marketing trends for 2018.

If you’ve never targeted Gen Z before and you’re not sure how to get started, I can help you out.

I’ve used research-backed data to identify some of the top characteristics and habits of this generation.

I’ll also explain in detail how you can use this information to your advantage as a marketer.

Here’s what you need to know.

Understand the key differences between Generation Z and Millennials

First, you need to be able to distinguish the difference between Gen Z and Millennials.

While on the surface these two groups may have some similarities, they needed to be targeted differently from a marketing perspective.

For example, look at how much younger an average Gen Z person was when they got their first smartphone compared to Millennials:

It’s no secret that our world is trending in a mobile direction. Marketers need to accommodate the needs of mobile users.

But Gen Z are the first group to have a smartphone throughout their entire teenage years.

This means they are reliant on these devices more than anyone else, including Millennials.

Generation Z are impatient, and their attention span reflects this.

The average attention span of a Millennial is 12 seconds, but it’s only 8 seconds for Gen Z.

That’s why they use more digital platforms simultaneously.

Millennials typically use three screens at the same time, while generation Z bounces between five screens at the same time.

Gen Z also doesn’t care about customer loyalty programs the same way Millennials do.

I’ll go into greater detail about this concept later on.

Generation Z also embraces influencer marketing more than Millennials do:

Their engagement with YouTube creators shows how much they value the opinions of regular people as opposed to celebrities.

Your company may want to consider working with more micro-influencers on social media to promote your brand.

Learn how to market your business on Snapchat

If you want to target Gen Z, you can’t afford to ignore Snapchat anymore.

About 71% of Gen Z use Snapchat on a daily basis.

Furthermore, 51% of this group use it about 11 times per day.

Take a look at some of the top companies that promote sponsored content on Snapchat’s discover page:

I’m sure you recognize these logos.

The fact that these major companies have already identified and adapted to this trend should show you how the market has shifted to this platform.

You can use Snapchat for brand exposure.

As we saw earlier, Gen Z don’t have a long attention span.

Just seeing your company’s logo could be enough to remind them of your brand.

In addition to using sponsored ads, your company should also have an account.

Add pictures and videos to your story on a daily basis.

Here’s an example.

Sour Patch Kids came up with a Snapchat campaign after partnering with Logan Paul, a YouTube personality.

The campaign delivered:

• 120,000 new followers
• 26,000 screenshots
• 583,000 impressions on the first day
• 6.8 million impressions for the last story of the week

Once you gain those initial followers, continue to promote your brand using Snapchat as a platform.

Use Instagram stories

One of the reasons why Instagram stories are so popular is because of their similarity to Snapchat.

Instagram realized how successful the idea of “disappearing content” was and added it to their platform.

You can add photos and videos to your Instagram story, and they will disappear after 24 hours.

In less than two years, Instagram stories have blown Snapchat out of the water:

Use your Instagram story to share exclusive content with your followers.

Even if you’re not posting a picture or video on your Instagram profile each day, you should at least be utilizing your story.

As I said earlier, Gen Z love micro-influencers.

Try to get those influencers to take over your account.

Alternatively, you can ask them to promote your brand on their personal stories.

Take your followers behind the scenes of your daily operations.

Showcase your production facilities, and introduce your staff.

This connects with people and shows them the human side of your company.

The marketing opportunities are endless with Instagram stories.

You just need to get creative and think outside the box to gain exposure.

Encourage entrepreneurship

Part of being a great marketer means you need to understand how your target audience thinks.

Generation Z have an entrepreneurial spirit.

In fact, 72% of teens in the United States say they want to start their own business one day.

If this group follows through with their goals, it will drastically change the future of our country’s workforce.

That’s because 61% of this group want to start a business directly out of college.

But Gen Z don’t value education as much as other generations do.

Only 64% of Generation Z plan to pursue a college degree compared to 71% of Millennials—a seven-percent difference.

It’s possible they don’t think they need college education to be successful.

This might be based on the rising cost of college tuition.

These numbers are rising higher than the country’s inflation rate.

The high costs could have an impact on Gen Z’s attitude towards higher education.

But with so many resources available on the Internet, Gen Z feel like they don’t need college to be successful or start their own business.

What does this mean for your company?

Try to come up with clever ways to engage those entrepreneurial minds.

Consider partnering with successful entrepreneurs who didn’t go to college as brand ambassadors for your company.

You could also try to create a value proposition that speaks to young entrepreneurs.

Generation Z has an influence on purchases their parents make

Market products and services to Generation Z even if they are not consumed by teens.

Here’s a graph to show you what I mean:

Most marketers wouldn’t think to pitch a family vacation, cell phone, or car to an 11-year-old.

But research shows that Generation Z has an influence on household purchases.

This generation is resourceful.

They may be more likely to research products and read reviews than their parents.

Just because they may not have the personal funds or resources to buy home furnishings or a plane ticket doesn’t mean your company can’t target these kids.

Their opinions may be the deciding factor between a purchase from your company or your competitor.

Facebook shouldn’t be your top priority

Facebook always tends to be the king in terms of social media marketing platforms.

But Generation Z don’t feel the same way about Facebook as other generations.

In fact, Facebook lost over 25% of users between the ages of 13 and 17 on their platform over a three-year stretch.

Don’t get me wrong.

I’m not saying you need to abandon your Facebook marketing strategy.

As you can see from this graph, the growth rate is rising for every other age group.

There’s still a ton of users out there for you.

But with that said, this shouldn’t be your primary strategy if you’re targeting just Generation Z.

Campaigns solely designed for Gen Z should be used on other social media platforms such as Snapchat, Instagram, and YouTube.

Generation Z want to make a positive impact on the world

Your company needs to be conscious of the environment, planet, and society.

According to a recent study, 60% of Gen Z want to positively change the future of our world.

Only 39% of Millennials feel the same way.

Furthermore, about 25% of teens today are already involved in volunteer work.

This is great news for the future of our world.

It seems like every time you turn on the TV or read the paper, all you hear is negative stories.

But Gen Z want to make a difference:

Take a look at these numbers.

To stay engaged with this group, your company needs to do its part as well.

Talk about any positive impact you are making in the community.

Are you working with charities?

Do your employees volunteer?

Come up with a mission that contributes to the greater good of the society.

Embrace it.

TOMS Shoes is a great example of this marketing strategy.

For every pair of shoes bought on their website, TOMS donates a pair of shoes to a child in need.

It’s a powerful campaign that speaks to generations who care about the future of our world.

Quality is more important than brand loyalty

Does this sound like your current marketing strategy?

Acquire new customers for as cheap as possible and retain them through customer loyalty programs.

It’s not a bad idea, and it’s probably been working for a while.

Once a customer becomes loyal to your brand, they’ll continue to support you for years to come.

They may start buying different product lines within your company, spend more money with each purchase, and even be willing to pay for more expensive products.

But you may not have as much luck with this strategy if you’re targeting Generation Z.

Look at how Gen Z view brand loyalty compared to Millennials:

This means you may have to put more effort into your current retention strategies for Gen Z.

Find ways to make them loyal.

There’s another way to interpret this information.

You could save your marketing dollars and not dump money on loyalty reward programs for Gen Z.

This decision is totally up to you.

It depends on your current retention and acquisition rates.

One of the best ways to retain Gen Z customers is through meaningful interactions.

A recent study showed that 44% of Gen Z are interested in contributing ideas to products and designs for their favorite brands.

Take advantage of this.

Use surveys, interviews, and focus groups with your customers to come up with new ideas.

If your customers contributed to the design, they are more likely to feel a connection with your brand and stay loyal.

Another statistic of interest is that 61% of Generation Z consumers are drawn to new brands.

Startup companies need to start targeting this generation right away in an effort to build brand loyalty.

Upload content to your YouTube channel

Generation Z love YouTube.

I discussed this earlier when I talked about micro-influencers.

I also showed you the success that Sour Patch Kids had using a YouTube creator in one of their marketing campaigns.

On average, Gen Z watch two to four hours of YouTube content each day.

They enjoy this much more than cable TV, which only accounts for about 30 minutes of their daily video consumption.

So if you’re relying on TV commercials to reach Gen Z, you’re wasting your money.

Instead, you need to increase your YouTube presence.

I love using YouTube as a promotional channel because it’s so easy to repurpose those videos.

It’s easy to add YouTube videos to your website or emails and incorporate them into your overall content marketing strategy.

Focus on their love of video games

Sixty-six percent of kids between the ages of 6 and 11 say that gaming is their primary source of entertainment.

Furthermore, Gen Z own more video game systems than every other generation.

But your company doesn’t make video games.

You may not even be in the technology or entertainment industry.

What does this mean for you?

Get creative.

That’s the fun part of marketing.

Come up with clever ways to use this information to your advantage.

For example, you could try to use product placement in video games.

You could also partner with specific games or gaming systems.

Sponsor an event or release of a new game.

If you sell certain electronics, advertise them for video game usage.

Things like microphones, headsets, routers, Wi-Fi extenders are all important to young gamers.

Conclusion

Right now, Generation Z are still an untapped market.

While companies have started targeting this group, there is still a huge opportunity for your brand to get a piece of the action.

You just need to understand how this new generation behaves, thinks, and consumes.

Don’t approach them the same way you have Millennials. As we saw, these two groups are different.

Use Snapchat and Instagram story to promote your brand.

Recognize that Generation Z value entrepreneurship and want to have a positive impact on the world.

They even have an influence over purchases made by their parents.

Gen Z are less active on Facebook, and they care about the quality of interactions with companies more than brand loyalty.

They love watching content on YouTube and playing video games.

If you follow this guide, your company can benefit from a new income stream.

What marketing platforms are you using to target Generation Z?

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9 Ways to Get Your Startup Funded

Don’t let money stop you from pursuing your dreams.

If you want to start your own business but don’t have the funding, you can still get it off the ground in a number of ways.

As an entrepreneur myself, I admire anyone who wants to create a company.

It’s not easy.

In fact, only half of small businesses in the United States will survive through their fifth year of operation.

Furthermore, just 30% of those businesses make it through ten years.

Based on this information, it’s clear that failure is more frequent than success when it comes to startup companies.

So I commend you for wanting to pursue this path.

While running a startup may be difficult, it’s also extremely rewarding.

You’ll learn a lot along the way. There are plenty of things I wish I knew before starting my first company.

But getting your startup off the ground is the first step.

Like with most aspects of business, you’ll need some money to do this.

If you’ve never been through this process before, it may seem intimidating.

Not sure where to start?

There’s no one right answer.

In fact, you can get money from multiple sources.

I’ve outlined 9 ways for you to get your startup funded.

I’ll let you decide which ones are best for your startup company.

1. Create a detailed business plan

Before you do anything else, you need to have a clear understanding of how you plan to operate your business.

A business plan will increase your chances of securing funds:

Companies that have a business plan also have higher growth rates.

Here’s why.

First of all, it’ll be hard for you to raise money from anyone without a business plan.

Different types of investors, which we’ll discuss shortly, will need to see financial projections before they even consider giving you a dime.

This plan will also set you up for success.

Once you get into the daily grind of your business operations, you’ll always have your plan as a reference to remind you how to proceed.

You may forget some ideas a year or two down the road if you don’t have everything in writing.

Your business plan should have a clear description of your business.

Who are you?

What do you do?

It should also include a market analysis.

This will discuss information and research about your competitors as well as your target market.

You’ll also want to outline the organizational structure of your company.

Have clearly defined roles for managers and other positions within your organization.

Arguably the most important part of a business plan is the financials.

Do your best to include financial projections for the next three to five years:

Make sure your projections are realistic.

As you can see from the example above, this company doesn’t project profitability until the third year of operation.

That’s okay.

You don’t need to turn a profit on your first day or even your first year.

Just try your best to accurately predict your finances.

This section of the business plan will help you secure funding from other sources on our list as well.

2. Visit your local bank

Go to the banks you use for your personal banking needs.

I recommend starting there because you already have a relationship with those companies.

Set up an appointment with a loan officer.

Show up to your meeting prepared.

Dress professionally. Bring your business plan.

Explain to the loan officer how much money you need and what it will be used for.

Depending on your situation, you may qualify for loans for certain aspects of your business, such as equipment.

If the bank denies your small business loan application, you could also try to get a personal line of credit from that institution.

You can use that line of credit to fund your initial business expenses.

Don’t quit after your first appointment.

You could try other banks and financial institutions if your first stop is unsuccessful.

3. Seek help from friends and family

In the United States, friends and family are second on the list for top startup funding sources.

These are the people who love you and trust you.

Most importantly, they believe in you and your potential.

Don’t be afraid to ask your loved ones for a loan.

Plus, unlike with a bank, you’ll likely be able to get some money from your friends and family without having to pay any interest.

Who knows, if you’re lucky, you might even get funds as a gift.

So talk to your parents, siblings, grandparents, or even your rich uncle.

Just know there are some risks associated with this approach as well.

You definitely don’t want to take a loan your friends gave you in good faith and lose it.

That could put both of you in a very uncomfortable situation.

With that said, I’ve talked to some entrepreneurs who said this had the opposite effect on them.

Loans from their family contributed to their success because they had extra motivation to not lose the investment.

They didn’t want to let their loved ones down.

4. Venture capitalists (VCs)

You can also secure funds from venture capitalists.

VC firms invest in the early stages of your company in exchange for an equity share.

If you decide to take this route, be prepared to give away a portion of your business.

That’s not always a bad thing.

If VCs have some skin in the game, they may be able to provide you with other resources that can contribute to the success of the company.

But just understand that smart VCs will only structure these deals if they are in their favor.

They don’t want to make a return on their investment in 30 years.

VCs want to make their money back, plus some, as soon as possible.

The likelihood of you receiving VC funding largely depends on your industry.

As you can see from this data, venture capital firms are typically drawn to startups within software and technology sectors.

So if your startup company is a local pizza shop, you probably won’t have luck with VCs.

5. Angel investors

Although these terms are often used interchangeably, angel investors differ from VCs.

While angel investors can take an equity share of your startup in exchange for their investment, their funding can also be exchanged for convertible debt.

It’s not uncommon for these investors to be entrepreneurs or former entrepreneurs themselves.

Although money is their motivation, they are more likely to be genuinely interested in your business as well as the growth and development of particular industries.

If you find the right angel investor, you may benefit from their expert advice and management skills.

It’s more common for angel investors to supply funding to businesses when they are still in the early stages, whereas VCs typically look to get involved a little bit later.

Unlike a VC firm that has a committee and advisors working together, an angel investor may make a decision on their own.

They may simply like your plan, trust your goals, and believe that your business will be successful.

That’s why it’s important for you to be able to articulate your business plan well.

A short meeting over coffee or lunch with an angel investor might be all it takes to get them on board to fund your startup.

6. Crowdfunding

Take advantage of the resources available to you online.

You can use crowdfunding websites to raise capital.

While most people think of Kickstarter when it comes to these platforms, there are some alternative websites you can consider as well.

Here are a few popular choices for startup companies:

• AngelList
• CircleUp
• CrowdFunder
• Fundable

All of these sites operate in more or less the same way.

Some put you in a pool of professional investors, while others let you raise money from anyone.

If your project is promoted properly, you can raise a ton of money.

Here’s an example to show you what I’m talking about.

In 2012, a company called Oculus Rift launched a campaign on Kickstarter with a goal of $250,000.

The company aimed to produce virtual reality headsets.

They ended up raising $2.4 million dollars, which was nearly ten times their goal.

It’s safe to say that funding was successful.

The money led to rapid success and growth of the company.

Just two years later, Facebook bought Oculus for $2 billion.

It just goes to show crowdfunding isn’t just for college students or small side projects.

There’s real money to be found out there.

You just need to look for it.

Here’s a look at some of the other top crowdfunded startups in terms of capital raised:

But just because you secure millions in funding doesn’t mean your company will automatically be successful.

Pebble Watches raised over $10 million in 2012, which largely exceeded their $100,000 goal.

But a highly competitive space made it difficult for this company to stand the test of time.

In 2016, Pebble announced they were ceasing daily operations. They stopped producing watches and honoring warranties.

The company folded.

7. Dip into your personal savings

You could also consider funding the startup company on your own.

If you’ve got money saved up for a down payment on a house or some other big purchase, you could use it to launch your business instead.

It’s risky because you won’t have any money to fall back on if your business is unsuccessful.

But if you’re willing to bet on yourself, there are plenty of positive factors to this route.

First of all, you won’t have to give up any equity in your company.

You get to keep all the profits instead of sharing them with investors.

You also won’t have to pay any interest on a line of credit or bank loan.

If you pay for everything yourself, you won’t be letting down friends or family members who may have loaned you money.

This isn’t an option for everyone.

But if you have an extra $20,000 in the bank, consider using it if your startup costs are low.

8. Look for a strategic partner

I’m sure you’ve heard the saying, “Two heads are better than one.”

Getting a strategic partner for your startup company can help accelerate the development of your business.

In fact, over 80% of companies say partnerships are essential to their growth.

Your partner has a bank account as well.

Between the two of you, you might have enough money saved to get your startup off the ground.

If not, it’s another person to help you secure funding through the other methods I’ve outlined in this post.

Partners also reduce your liability. You won’t be on the hook for as much if things go south.

On a flip side, you’ll only get half the profits.

You may get even less if you give away equity to other investors.

Make sure you find someone you can trust.

While your strategic partner may be able to bring new ideas and solutions to the table, there can also be conflicts and disagreements.

9. Try to minimize initial business costs

Reevaluate your startup costs.

You may not need to raise as much money as you initially thought.

Make the money you already have last as long as possible.

Instead of paying for an office, you could work from your home or a shared office space.

Pay for goods and services as you go instead of paying upfront for large quantities of products.

Use cost-effective materials.

Think outside the box.

And while this may not work for every startup, you can also barter.

Instead of paying for certain products or services, offer your own services in return.

This may be successful if you’re working with other startup companies in a similar to yours situation.

Just do your best to keep costs as low as possible.

Conclusion

Starting a new business is exciting.

But it’s not cheap.

Not everyone has enough money to get their startup company off the ground.

If you can’t fund your business on your own, try getting a loan or line of credit from your local bank.

You could always ask your friends and family for help.

Venture capitalists, angel investors, strategic partners, and crowdfunding platforms are also great options to consider.

It’s important that you always start with a strong business plan.

Come up with realistic financial projections.

This will make it easier for you to get money from investors.

You also need to keep all your costs as low as possible to make your funds last until you can get a steady income stream.

Follow these tips, and you’ll be on the right path toward raising money for your company.

Good luck!

What strategies are you using to secure funding for your startup company?

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How to Increase Sales Conversions with Retargeting Strategies

Everyone wants more sales.

Regardless of your industry or current situation of your company, increased conversions will help your business grow and prosper.

But wanting higher sales conversions and actually getting them are two different things.

Sure, your advertising team probably has various content marketing strategies in place.

It’s important you have a proper grasp of the reasons behind these tactics.

Are the advertisements targeting an actionable audience?

That’s one of the major differences between retargeting strategies and other promotional methods.

Here’s the thing.

Not every customer takes a simple path to complete the purchase.

It’s not always as simple as someone viewing your website for the first time, becoming interested in your brand, and buying something during the same visit.

While that would be a great scenario, the reality is this process takes time.

Creating a customer journey map can help give you a better understanding of how the buying process works.

Here’s a visual representation of how consumers interact with a brand before, during, and after they make a purchase:

Take a look at all those touch point examples in the awareness and consideration stages.

It shows that the buying process isn’t a straight line.

A consumer may stumble upon your website one day, browse it a bit, and leave.

Maybe a month or two later, they read one of your blog posts and subscribe to your email list.

They could even pick up the phone and contact a member of your sales team to ask some questions about your products and services.

Still, it may take this person another few weeks or so to finally buy something.

As a marketer, you need to anticipate this behavior and aid buyers through this unconventional process.

One of the best ways to do this is through retargeting ads.

I’ll explain everything you need to know about retargeting so you can increase sales conversions for your company.

Make sure your retargeting strategies have a goal

First, I want to cover the basics.

Retargeting ads are designed for people who have already visited your website.

You can also target customers who are in your database from a lead generation campaign.

These ads aren’t as simple as traditional banner ads that target everyone.

There are seven different types of retargeting methods:

With so many different ways to approach this marketing tactic, it’s important you have a clear goal in mind.

If you’ve never done this before, I don’t recommend trying to implement all these strategies at the same time.

Pick one and go with it.

Start by targeting people who:

• have Google searches relevant to your brand
• consume content that’s the same as that of your current customers
• had an impression from a custom advertisement on social media
• visited your website but didn’t make a purchase
• are on your email list

Knowing whom you’re going to target will make the rest easier.

Now you’ll have a better understanding of where these customers are coming from.

The goal of your retargeting strategy should be to create awareness and increase conversions.

As you saw earlier, people aren’t always ready to buy something the first time they visit your website.

In fact, 92% of consumers aren’t looking to make a purchase the first time they check out a website.

That’s why creating brand awareness needs to be one of your goals.

Even if the consumer has already heard of you and is familiar with your company, you need to keep reminding them about what you can provide.

This will make it much easier to get conversions, which is your primary goal.

Your company may have some other goals as well.

It could be driving customers to specific products, subscriptions, or services.

Just make sure those goals are clearly defined before you start.

That way everyone is on the same page, and it will be easier to measure how successful these campaigns are.

Use pixel-based and list-based retargeting

Pixel-based retargeting is one of the most common ways to execute your plan.

Here’s an example of how Dohop implements this method:

Once someone visits your website, a browser cookie is stored to retain that information.

This is how you’re able to find people who have visited your website.

Now you need to get a retargeting platform.

The cookie will notify the platform and provide that consumer with your ads based on what pages they viewed on your website.

Pixel-based retargeting is great because of its timing.

People will start seeing your ads almost right after they’ve left your website.

This keeps your brand fresh in their minds.

But the pixel-based strategy isn’t foolproof.

It’s completely based on cookies from the people visiting your website.

If you’re not getting web traffic in the first place, you won’t have anyone to retarget.

List-based retargeting focuses on people who are already in your database.

It’s not as common as pixel-based, but it definitely has plenty of benefits.

You can even focus on your existing customers.

Segment these people into different groups to make your advertisements more relevant to them.

I’ll go into greater detail about your current customers and list segmentation shortly.

As I said before, for pixel-based retargeting to work, you’ll need a platform to communicate with those web cookies you acquire after someone visits your site.

Some of the top options to consider are:

• Perfect Audience
• AdRoll
• ReTargeter

These are some of the benefits you get from Perfect Audience:

Check out these websites to see which one best fits the needs of your company.

But for the most part, you’ll notice a lot of similarities between different platforms.

Update your ads

One of the biggest mistakes I see companies make is running the same retargeting ads over and over again.

Your campaigns aren’t going to convert 100% of the time.

It just won’t happen.

Here’s something else to keep in mind.

Consumers aren’t stupid. They don’t think it’s a coincidence they are seeing these ads right after visiting your website.

So, switch it up.

If your current ad isn’t getting someone to convert after they’ve been exposed to it for a few weeks, you’ll need to run another one.

Here’s an example.

Take a look at this retargeting ad from Freshdesk:

It’s simple and has a clear goal.

Look at the CTA button.

They are trying to entice the customer to download something they offer.

This could be targeted toward people who visited a specific landing page on their website.

This ad is corresponding to a browsing cookie for that page.

But what happens after someone sees this ad for a few weeks without converting?

Will it eventually work if you keep showing it to them for another few weeks?

Probably not.

They’ve seen it. And for one reason or another, they’re not interested.

Freshdesk recognizes this, so they switch it up.

There are major differences between this ad and the first one above.

Rather than getting the customer to download something, they are trying to encourage them to sign up for a free trial of their software.

Offering something different can potentially increase the chances of getting a conversion.

You should also A/B test your ads.

In the example above, Freshdesk could move their CTA button or change its color to test which version will deliver higher conversions.

But the key here is to make sure your ads don’t get stale.

A/B testing will also help ensure your conversion funnel is optimized.

Create customized landing pages

When a customer clicks on one of your ads, it shouldn’t bring them to the homepage of your website.

That’s ineffective.

Instead, make sure you send them to a landing page directly connected to the ad they clicked on.

Here’s an example of an ad I saw on Facebook:

It’s obvious this post is directed towards men.

The title of the page says men, and the models are wearing men’s clothing.

But if you go to the Lululemon homepage, it’s primarily directed toward women.

Sending customers here would be ineffective for that Facebook campaign.

Lululemon recognizes this, so they don’t do it.

Instead, the Facebook ad goes to a customized landing page designed for men.

Here’s what happened when I clicked on the retargeting ad:

This page speaks to me more than the home page.

It’s also directly related to the Facebook ad.

They are promoting discounted men’s clothing.

Apply this concept to your retargeting strategy.

If you’re pitching a specific product or service, make sure the landing page matches the ad.

When customers have to search your website to find what they are looking for, it will negatively impact your sales conversions.

Focus on your existing customers

Retargeting campaigns don’t need to draw attention to only new customers.

I’ve said it before: you can increase revenue without acquiring new customers.

This is the perfect opportunity for you to reach out to email subscribers who haven’t been active in a while.

As I hinted at earlier, that’s why you need to segment your email lists.

Segment your subscribers based on their interests and activity.

Send them retargeted emails based on their previous purchases or browsing history you’ve collected through their customer profile.

The benefit of retargeting your current or old customers is that they have another level of familiarity with your brand.

They know more about your company than the people who have visited your website but never bought anything.

You can also try to cross-sell or upsell to these customers.

Here’s a great example of an ad I saw from American Express:

I’m already an Amex member and have one of their credit cards.

But they are trying to pitch a new card to me.

Rather than getting a new customer, it’s easy for them to retarget me by offering a card I don’t have.

If this doesn’t work, a month or so from now, I could potentially see a different ad offering another card I don’t have.

Conclusion

The audience and target market for your advertisements should be ready to act.

That’s why retargeting campaigns are so effective.

You focus on people already familiar with your brand and interested in buying something.

If you use pixel-based retargeting strategies, you’ll be focusing on website visitors who didn’t convert.

Increased website traffic doesn’t necessarily lead to sales conversions.

That’s why your retargeting campaigns shouldn’t be aimed at just anyone.

Have a clear goal for your campaign.

Make sure you find the right software and service to help your website utilize cookie information left by the visitors looking for a product or service.

If a retargeting ad doesn’t convert, don’t give up on that customer yet.

Just switch it up after a few weeks with a different offer.

When someone clicks on your ad, make sure it doesn’t bring them to your homepage.

Instead, have customized landing pages for each ad.

If you follow these tips, you’ll be able to increase sales conversions through retargeting strategies.

Will you focus on pixel-based or list-based retargeting first?

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