Partial data is information collected about people that have visited your site but didn’t purchase. Top notch direct response marketers know that data is a goldmine. When collected and monetized properly, seasoned direct response marketers turn partial data into millions of dollars. Here’s how it works:
When visitors fill out the call to action form, top notch CRMs like Lime Light segregate the data into 2 classes: customers and partials. The partial visitors invested their time and energy into filling out the call to action form on your offer. That means that they trusted your website and felt that your offer was valuable.
But they left without buying…
Novice marketers would take that as a sign of loss of interest in your offer – nothing could be further from the truth. As we all know, things come up throughout the day. They may have received a call, had to pick up the child from school, or got scared at the last minute and decided to think about it.
Ah ha! Perfect opportunity to get your offer back in front of their eyeballs. Remember, the longer you rent space in their minds, the higher the chances they’ll buy.
There’s 3 tricks we use to turn 40% or more of this data into cash:
Within 24 hours of filling out the call to action form, have an automatic email system in place to deliver a promotional code. This surmounts any pricing hesitations. For hard sale offers, send an email with a trial offer. The lower the barrier to entry and risk, the higher the conversion rates.
Also, attach as many customer testimonials as you can find. Continue to validate your offer. If you don’t have testimonials attach news reports on your offer. i.e. If you sell a tanning lotion, find positive reports on the active ingredient and add them to your email.
2. Direct Mail
Some offers collect the address from customers upfront. When done tactfully, this presents a great opportunity for marketers to start direct mailing. Here’s a great article from Copyblogger on just how to succeed in direct mail campaigns.
Note: the more information you ask to collect upfront, the lower your conversion rates. Most people do not want to commit to sharing that data upfront. Once they do commit to part of their personal data, they are more apt to follow through on the checkout page. Here’s a tactful way of collecting all the data upfront:
3. Call Center
My friend Ryan Tewis hits over $50,000 a day on a hardsale biz opp he’s running. Ryan is a master at monetizing partial data.
In his Tampa call center, withing 30 seconds of receiving a partial lead, his call center reaches out to the prospective customer. He catches them when they’re red hot. I’ve heard rumors that he closes over 50% of his partials Talk about improving the bottom line!
The #1 reason why most people don’t monetize their partial data is lack of manpower. We work with the best data monetization companies in the world. If you’re too busy to monetize your data or feel that you’re not monetizing to your fullest potential, reach out to us and we’ll help you turn your data into a goldmine.