What Tyrion Lannister Can Teach Us About Advanced Marketing
So I just finished watching Game Of Thrones (GOT) Season 7 - Episode 3.
There was this scene where Jon Snow was looking over a cliff contemplating on whether he made a mistake on meeting Daenerys Targaryen.
Then Tyrion Lannister came over and said,
"She's not about to head north to fight an enemy she's never seen with a man she doesn't know after a single meeting. It’s not a reasonable thing to ask.”
In marketing, it’s the same concept.
A good client / customer will not buy a product the first time they see it.
Research show that "80% of sales require five follow-ups."
This is the main reason why we get a visitor's email address before we send them to the sales page.
We want to be able to send them follow-up emails and hopefully after the fifth follow-up, they buy our product.
That’s basic, every online marketer should know this by now.
Now, what if they already went to the sales page, but didn’t buy?
Here are several reasons they did not buy:
1. Price was too high for their budget
2. Value did not exceed the price
3. They’re in the middle of doing something else and got distracted.
The question now is, how do we make them go back to the sales page WITHOUT sending them emails again?
Have you ever noticed an Ad that seems to follow you around wherever you go?You’ll see the Ad on your FB’s Newsfeed.
You’ll see the same Ad inside a website.For those who are new, this concept is called RETARGETING.
This is not a new concept and yet NOT many people know it exists.
It’s a technique you can use to make a person re-visit your sales page.
It’s a way of reminding your visitors that they need to buy your product.
Now, don’t just create an Ad that brings them back to the sales page.
Create an Ad with A NEW OFFER for the same product that will make them want to come back to your sales page and finally buy your product.
Going back to GOT, in that same Episode, Tyrion said to Daenerys, “Give him something by giving him nothing.”
So, that’s exactly what we’re going to do.
Here are some ways you can give something by giving nothing:
1. You can add a BONUS that wasn’t in the original sales page.
2. You can give a DISCOUNT that will expire in a few minutes.
3. You can tell the the price will go up if they don’t purchase right away.
Now these things will cost you almost nothing especially if you are selling digital products.
And yet these “Nothing” are actually “Something” to your customers.
It’s the most cost-effective marketing technique you will ever use and should use over and over.
Here’s an example of my retargeting campaign (See Screenshot)
Amount Spent: P1,328.74
# of Purchases: 58
Gross Sales (Website Purchases): P45,092.00
Cost Per Purchase: P22.91! I only spent P22.91 for every sale of my product.
ROI??? I’ll let you compute.
So, comment if you learned something from this post.