There's nothing that gets your heart racing,
quite like being on a discovery call with a new client
and you're hit with,
"Yeah, so we're doing some CRO
and we'd love to get your help boosting the CTR
and the CLV on our OTO,"
And you're like, "WTF?"
If that sounds like your worst nightmare,
then keep watching.
(upbeat music)
Hey guys, it's Alex.
So great to see my Copy Posse crew here again this week,
give me a thumbs up below to let me know you're here.
And if you're new to the crew, welcome.
Here on my channel,
you can expect to see a brand new video on copywriting
and marketing every single week.
So if that sounds like your thing,
as much as it's my thing, go ahead and subscribe below,
and don't forget to ring that bell
to be notified when my next video goes live.
Now this week's video is a long time coming.
You guys know that it's my life's mission
to make this whole freelance copywriting thing
as easy as possible for you.
But let's be real here,
I can give you all the copywriting tools,
tips, and templates in the world,
but I cannot write your copy for you,
and I definitely can't be
on your first client discovery call.
And yes, I know how scary that first call can be,
and believe it or not,
I still get kind of nervous when I'm talking
to prospective clients for the first time.
And it can be even more terrifying
if you don't know all the fancy marketing lingo
and ridiculous jargon that's out there.
And, my God,
us marketers and copywriters sure do love our TLAs,
that's three-letter acronyms.
Some of these have become so commonplace
that just about everybody in the world can recognize them.
Everybody knows that sliding into DMs
is referring to direct messages,
or that the PR department is public relations.
But other frequently used acronyms,
like USP, OTO, CTR, CTA,
CLV, WOM, CRO, and AIDA,
might not be such common knowledge.
Well, get out your pen and your notepad
because we're about to go over
what every single one of those stands for
and what the context behind them really is.
All right, first up, USP, or unique selling proposition.
This is probably one of
the most frequently used marketing acronyms in the world,
so you'll wanna make dang sure you know it.
A USP, or unique selling proposition,
is what makes a brand, product, or service,
different from its competitors.
Think of it as
the competitive edge you hold over your competition.
A USP is short and simple, but highly effective.
In one sentence,
you should be able to effectively communicate
why your company, product, or service is superior to others.
And thus, why someone should buy from you,
and not Sally over there.
Here's the USP of The Copy Posse.
We are all about building a community
of authentic and passionate copywriters,
and we do not stand behind any douchey
or misleading marketing tactics,
and that is exactly what sets us apart from our competition.
And before you say it, yes,
I know your company is totally amaze-balls,
it can most definitely help people's lives
in more ways than one.
But when it comes to your USP,
you don't wanna bore potential customers
with a laundry list of things to read
before they even know if they're interested
in learning more.
Remember, when you try to be known for everything,
you're remembered for nothing.
So pick your poison and own the hell out of it.
Your USP should be communicated quickly and clearly
so that when potential customers come to your site,
they immediately see why you're so much more awesome
than all of the other options out there.
If you wait too long to state your USP,
you risk losing customers altogether.
And listen,
a true USP is so much more than a simple tagline or slogan.
It is the essence of what makes you unique.
So, for example,
when Amazon was just starting to become a thing,
remember that?
It stood apart from the competition
by offering free two-day shipping to its Prime members.
And at the time, online shipping was really pricey,
and it often took a long time to get your products.
So Amazon's USP addressed this very specific pain point
that people had with online shopping
and the rest was history.
Today, Amazon is the biggest online retailer out there,
nearly everyone across the globe utilizes Amazon
in some way,
which really goes to show how powerful a USP can be.
All right, moving on to number two on the list,
OTO, or one-time offer.
An OTO, or one-time offer,
refers to a sales page that promotes a special offer
that is available for yep, you guessed it, one time only.
A one-time offer is something that truly expires
when you say it will,
and it's often presented immediately after an email signup
or registration of some sort.
Like when you subscribed to an email list
at your fave online store,
and then you get that 10% discount code to use right away.
Usually,
this code is available right then and there, on the page,
and oftentimes, if you close the page,
that code is gone forever.
Now this works really well
because it's based on a user's action
and it's only shown one time.
So scarcity makes one-time offers really, really effective.
I mean, think about it.
People love discounts and good deals.
In fact, approximately 34% of millennials will look
for online coupons on a weekly basis.
So this makes it a really powerful marketing strategy
because it combines FOMO,
the fear of missing out, with a sense of urgency.
Now, I just wanna clarify something here,
a one-time offer is not an upsell,
and sometimes I see those terms being used interchangeably.
So an upsell is something that is presented to a customer
after they have purchased an upfront offer.
So, for example,
if someone signed up for an online coaching program,
an upsell would be to offer them
a one-on-one VIP coaching as an upgrade,
but that is not a one-time offer,
that upgrade might always be available for them to purchase.
And because of that,
there's really no sense of urgency in an upsell.
Upsells are typically value-driven,
while one-time offers are scarcity driven.
Now, the caveat to using an OTO is that they only work
if you actually pull the offer when you say you're going to.
Do not get in the habit of saying
that something is one time only
and then keeping it up all the time,
or you risk losing trust, confidence,
and possibly even the business of your customers
and loyal subscribers, which is definitely no bueno.
All right, next up is CTR, or click-through rate.
Now, one of the best ways to gauge
how well your business marketing is performing
is to track and monitor your CTR, or click-through rate.
Click-through rate is the ratio of people
who click a specific link
to the total number of viewers on that page, ad, or email,
which is also known as impression.
So basically,
it's clicks divided by impressions equals CTR.
If you have five people click on a Facebook ad
that was seen by a hundred people,
your click-through rate is 5%.
Understanding your CTR is really important
and it can give you valuable insight
into the brains of your audience,
letting you know what's working and what's not.
So monitoring your CTR is a great way
of knowing how your emails and ads are performing,
and it's also a great way to know what hooks
are resonating best with your audience.
Okay, but how do you know
if you have a good CTR or a bad CTR?
Well, that's where things get a little fuzzier.
There isn't exactly one concrete number
of what makes a good click-through rate
because CTRs will vary massively by niche,
campaign, company, and ad type.
That's why it is so important to gauge
and monitor your own click-through rate continuously.
So you should be constantly testing ads,
hooks, and headlines,
and then innovating and pivoting along the way
to boost your CTRs and set a new high score of your own.
All right, now that brings us to CTA, or call to action.
So this is where you actually want people to click.
The call to action is your most wanted conversion response
on any marketing asset.
So you'll typically see this in the form of a button,
link, or image,
that encourages your audience to become leads or customers.
And remember guys, the simpler your CTA, the better.
Your call to action isn't the place
to get all fancy with your copy,
you need to be clear and concise with it.
It should only take one hot second
for the customer to understand exactly
what you want them to do.
So click here to enroll now,
or buy now, or download your ebook today.
See how all of those are super simple?
There is zero confusion on what to do next,
the customer knows exactly where to go
and what to click on to get them there.
And here's an insider tip on your sales page CTAs.
After the offer has been introduced,
I like to see the call to action presented
at least two to three times on the page.
This increases the likelihood
that you'll catch your customer ready to take action
at the moment they want to and boost your CTR.
And always, always, always remember,
to have the call to action be
the very last thing people see on your sales page.
That way all those skimmers,
who just scroll right to the bottom, will not miss it.
All right, next acronym on the list is CLV,
or customer lifetime value.
This is the total amount of money that a customer
is expected to spend on your products or services,
during their lifetime as a customer with you.
And, obviously,
the longer you keep a customer as a customer,
the greater your customer lifetime value will be.
Now, I probably don't need to tell you this,
that it's in your best interest to do whatever you can
to keep as many customers for as long as you can.
But the real money question here
is how can you actually do that?
Sure, being an awesome company,
and having a kick-ass product,
is a really good place to start to have lifelong customers,
but that alone, isn't going to seal the deal.
To truly keep your customer long-term,
you have to go above and beyond
and give them a greater customer experience
than they were expecting.
So that means having stellar customer support,
resolving their issues quickly, answering their concerns,
and delivering on time, every time,
and making them feel part of a community and brand.
I've said it before, and I'll say it again,
No longer are people just looking
for a good product, that is expected.
People want good products from good companies
that they can relate to and trust.
In fact, a staggering 70% of people will support a company
that delivers great customer service.
And on the other side of the coin,
the average American will tell 15 people
if they've had a bad customer experience.
That is not good advertising,
which brings us to WOM, or word of mouth.
Word of mouth is a marketing method
that relies on organic social interactions,
conversations, and recommendations,
to promote a product or service.
It's like when your bestie suddenly looks like
a glowing goddess,
and you ask her what she's doing differently.
And then she tells you about this luxurious new skin cream
that changed her skin,
improved her digestion, made her more zen,
and all around just improved her whole life.
And you're like,
"Yeah, I'm definitely gonna go buy some of that right now."
All kidding aside,
word of mouth is a marketing strategy
that should definitely not be undervalued.
People are 90% more likely to trust and buy from a brand
that was recommended by a friend.
And the real mindblower here
is that word of mouth impressions result
in five times more sales than a paid media impression.
That means if someone was recommended to a product
by someone they trust,
they are five times more likely to buy it
than if they just saw an ad on Facebook for it.
You guys, those numbers are huge.
That is why it is so important for a company
to actually live up to its great marketing promises.
Sure, having a killer sales page and marketing campaign,
might land you some pretty great conversions upfront,
but if those people buy
and then you under-deliver on your promises,
you better believe that word will get out.
And pretty soon your awesome sales page
won't really matter anymore.
Even the best copywriters in the world,
can't save a crappy company.
So remember, good marketing can only take a company so far.
In order to reach true icon status,
always deliver on what you promise, on time, and every time.
All right, next on the list is CRO,
or conversion rate optimization.
So if you're relying on website traffic to drive sales,
which is basically everybody these days,
you'll wanna pay attention to CRO,
or conversion rate optimization.
CRO is a system for increasing the percentage of visitors
that take a certain action on a webpage,
like buying a product or service.
So essentially with CRO,
what you're doing is enhancing your marketing
to boost conversions.
Now, this can be done in a lot of ways,
like increasing customer value proposition,
improving your site speed, or utilizing scarcity,
and you can track this
through something called split testing.
Split testing is a scientific process
for turning more website visitors into customers,
AKA, increasing your conversion rate.
You can also think of it as A/B testing
or running two slightly different campaigns
that have the same end goal in mind.
Now you can do this with images, ads, headlines, emails,
really the possibilities are endless.
And yes, while split testing does take extra time,
money, and effort upfront, the payoff is well worth it.
In fact, companies that test emails,
see email marketing returns that are 37% higher
than those brands that don't do A/B testing
with their emails.
And that is a seriously huge increase in sales,
which must make you think everyone is doing CRO, right?
Nope.
In fact, studies have shown,
that only 17% of marketers use A/B testing
to improve conversion rates,
which means 83% of companies and products,
just pray they got their marketing right
the first time around.
So while CRO might take a little bit of extra work,
it won't only increase your conversion rate,
but it'll give you a competitive edge
and help you stand out.
All right, and last on the list is AIDA,
attention, interest, desire, action.
Thought as one of the best known marketing models out there,
AIDA is a marketing model that represents the stages
a consumer passes through when making purchasing decisions.
And even if you don't know the term, AIDA,
you're likely following it in your marketing
on a subconscious level.
You can think of this model as a funnel
that customers go through on their journey,
towards the final purchase,
with awareness being at the top,
the widest part of the funnel,
and action being at the bottom,
the narrowest part of the funnel.
So at the first level, awareness is your job.
You simply wanna make the customer aware of your brand.
In the second level, interest,
your job is to get the customer intrigued by the brand
and want to learn more.
And then next comes desire,
which is really where your brand's USP comes into play.
So, at this level,
your customer is pretty invested in buying your product,
or at least they like it.
This is where you wanna develop that emotional connection,
that I feel you vibe, with your customer.
Your goal here is to ultimately move your customer
from, "I like that," to, "I need that,
and this is the brand I wanna buy from."
And then once they're locked onto your product and brand,
they fall through the bottom of the funnel, which is action.
This is where your CTA comes into play.
So whether it's to purchase, to download,
or to sign up for an email subscription,
this is where
that highly sought-after conversion takes place.
But remember,
the customer has to go through every single part
of the funnel before they arrive to the bottom.
So make sure that each step of your funnel
is priming your customer to take that desired action.
All right, guys, there you have it.
Eight frequently used acronyms
in the marketing and copywriting world.
So now you're basically a lingo expert
and you can absolutely own those client calls
with confidence and success.
Give me a thumbs up below if you found this video helpful,
and as always,
thank you so much for watching and subscribing.
Next step,
check out my video on how to prepare a boss portfolio
and get more yeses, you can watch that right here.
And I will see you next week with a brand new video.
Until then, I'm Alex, ciao for now.
(upbeat music)
TO, CTR, CTA, CLV, WOM.
(speaking gibberish)