If you have participated in a MECLABS, MarketingExperiments or MarketingSherpa event or education program, you may have been exposed to the patented Conversion Heuristic.
It looks like this:
C = 4m + 3v + 2(i – f) – 2a
If you haven’t seen this before, it can be explained in minutes. However, it can take decades to master.
My hope is this MarketingExperiments Blog post will help you gain a basic understanding of the Conversion Heuristic, and specifically, understand the anxiety element in the heuristic.
Each letter in the Conversion Heuristic represents a psychological, emotional or physical element affecting a prospect’s choice to say “yes” or “no” to your offer.
Each number represents the weight or importance each element carries in guiding the prospect to your offer, or away from your offer.
The element “C” represents the probability of conversion. A conversion in this instance describes the event when a prospect becomes a customer.
This event is the foundation of business; without conversion, a business ceases to exist. To increase the probability of conversion, it is important to understand the elements within the Conversion Heuristic. In this post, I will highlight the “anxiety” element present in every conversion process.
Here is the Conversion Heuristic again: C = 4m + 3v + 2(i – f) – 2a
C = Probability of conversion
m = Motivation of the customer
v = Force of your value proposition
i = Incentive
f = Friction
a = Anxiety
It is very important to remember that your prospects are people. They have thoughts, feelings, needs and desires. When there is product or service being offered to a prospect, that prospect may have questions or concerns.
This psychological concern occurs within the prospect’s mind.
Anxiety is a real concern that the prospect may have regarding your offer. The prospect may not even be aware that it is happening, but when corrected or addressed, there can be some significant lifts in your conversion rate.
Here are some examples of anxieties that people may have when making purchases online.
Is my credit card information safe?
What if I am not happy with my purchase?
What if there is a better price somewhere else?
Marketers, now is your time to share your knowledge and expertise. How you would address these real concerns that your customers have on websites?
Take a few minutes and share your thoughts and ideas in the comment section below on how you help customers overcome these anxieties in your marketing materials.
Image Attributions: Humans Development, Andrew Writer
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MECLABS Online Testing Course [Learn more about applying the Conversion Heuristic]
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Landing Page Optimization: 5 factors that lead to (and prevent) conversion [More from the blogs]
Landing Page Optimization: 3 keys to increasing conversion rates [MarketingSherpa webinar replay]
E-commerce: Adding trustmark boosts sales conversion 14% [MarketingSherpa case study]