Hey everyone- we are back with a quick word on how to handle this whole Corona Virus outbreak as a marketer. We know these are strange, unprecedented times and so we hope this helps you feel a little better about your business right now.
First of all, you are not alone if you are struggling right now.
At SamCart we are absolutely experiencing a decline in conversion- so if you are seeing that in your business, please know you are not alone. We saw a little bit of a come back today (Monday, March 16) but for the most part our numbers are definitely lower than what we usually expect. With that said, ad costs have gone down because of the decrease in demand, so that is helpful. But we have started scaling back our ad spend because it isn’t giving us the ROI we are looking for.
If you are a new business, this is definitely not the time to start tracking your numbers or making decisions based on the market.
It’s important to remember that you are not going to see normal activity when there is such a huge event going on in the world.
This is not something any of us expected to deal with, so while people are scrambling to find a new normal they aren’t going to exhibit the same spending behavior as they usually would.
Our advice for right now is to sit tight and wait.
This will pass and we will get back to business as usual, but for right now it’s okay to take a step back and wait for things to calm down. This would not be the time to start experimenting with new marketing campaigns or a new product. With that being said, this is definitely a time to realize how beneficial online businesses really are. Despite everything going on, our business has not come to a complete stop by any means. That is a huge benefit to being in this business in the first place.
Bottom line: sit tight. Things will go back to normal- hopefully sooner than later- and until then, it’s okay to step back and wait. Stay safe and stay healthy, friends.
Speaker 1: We halted all of those. This is just not a good time to be running tests or experimenting or trying to make any sort of judgment on something that's working.
Speaker 1: Hey, what's going on, everybody? Been a crazy last couple of days, as everybody knows, with all the coronavirus stuff going on, and it made me think about getting a podcast out there for you guys, just to let you guys know how, on my end, how we're responding, mainly on the business front, and then what we're seeing across the board with a lot of our customers.
Speaker 1: What's today? Today is Monday. When all the coronavirus stuff started to get into the media, at least here in the U.S., was last week, when the major hype started to be felt across the board. Immediately, one of the things that I saw in the Facebook ad campaigns that we're running is a big drop in conversion when it came to the conversion of people actually buying.
Speaker 1: You can take a look at the very front of the funnel. We have run a lot of Facebook ads, a lot of Google ads too, to a couple of different webinar campaigns, to a couple sales letters. One of the things that I noticed immediately last week, and it's still going on right now, is our traffic costs got a lot cheaper, and that makes sense, if there's a lot of businesses drawing back or pulling back on their ads, that Facebook or Google or whoever, whatever platform, there's probably a lot less demand out there for ads because people aren't really sure what's going on. Their conversion rate might be dropping. The business might want to hold on to cash, whatever the problem is.
Speaker 1: Immediately, our cost per click went down dramatically, like 50 to 60% in some cases. And we were getting a ton of leads. People were still opting in at the same rate. They were still going through, either opting in for a webinar, still attending the webinar, still reading the sales letters, still watching sales videos, but the conversion rate of people actually buying was way down.
Speaker 1: For me, hopefully this helps you guys a little bit, one of the first things I did was just scale back on some of our ad campaigns because the ROI just wasn't where it needed to be at the scale that we were at, around 10, 15 grand a day. If you're out there and you're someone who is actively buying traffic right now and you're seeing the same thing, I wouldn't feel worried about pulling back on your ad spend, at least for now, while things are just chaotic. Everyone is probably glued to their TV or their phone checking on things that are really important. They might not be buying whatever it is you're trying to sell them.
Speaker 1: We've seen a little bit of a bounce-back today across the board. First, SamCart customers' processing took a dive for a couple-day period last week, but it really has bounced right back. That almost suggests maybe people are at home and still are willing to shop, willing to buy. I think a lot of it depends on what niche you guys are in, what product you're selling. I think just look at it on a case-by-case basis.
Speaker 1: If you're someone that's launching a new offer, a new product, or you're just getting started, now would definitely not be the time to be making any judgments on how your product is converting. If you're trying to roll something out there and it's not converting well, that's probably why. Anytime that people are glued to either media or their TV or their phone, whether it's an election or a big catastrophic event like everything going on, that can really decrease or just mess with conversion rates across the board.
Speaker 1: Don't lose hope if something's not converting. Just be prudent. Keep an eye on your numbers. Pull back, maybe even turn off ad spend for a week. Let things simmer down. That's what we're planning on doing here. Hopefully, that helps you guys a little bit.
Speaker 1: If you guys have noticed, if you're on the email list, we just released a new training series all about video sales letter. It's going through our 22-step process for creating videos that sell products. All of that is over at the5minutevsl.com. You guys can check that out and watch it while all of us are home and quarantined for the week. This video should be really valuable for you.
Speaker 1: Then we're going to be opening up enrollment into that course next week, and I think the timing is actually pretty good. One of the nice things about all of us that sell online is, even in times like this, that people still have internet access and they're still willing to shop and buy things online. It might not be. I guess in some cases your conversion might be better; it might be the best time to sell in some cases. Depending on what you're selling, it might be the worst time.
Speaker 1: But information that we all are obsessed with and are in love with, this art of selling products and building businesses online, it's times like this when you realize just how valuable that is, that when people are locked in and confined to their house or their apartment or their computer or their phone, that we still have the ability to reach them and hopefully help them out with our products out there. I would definitely go check that out, if for nothing else just to go watch the couple of free videos that we put out there that are incredibly valuable no matter what you guys are selling.
Speaker 1: But anyway, just so you guys know what someone like me is doing behind the scenes, how we're responding to it, it really just comes back down to focusing on what's working, dialing back on tests we might have been experimenting with. We halted all of those. This is just not a good time to be running tests or experimenting or trying to make any sort of judgment on something that's working when there's something else, an outside force that's got everybody's attention. You just never know what's going to happen.
Speaker 1: Conversion rates could be higher, they could be lower, but most likely the behavior that your customers are showing right now in this next couple of weeks, hopefully that's all this takes, it's not going to be normal. It's going to change one way or another. And it was probably different a couple of weeks ago than it is now.
Speaker 1: Anyway, that's my thought for the day. Hopefully, it helps you guys out. Hopefully, everybody is safe and healthy and doing good. We'll see what goes on in the next couple of weeks. It'll be a crazy time, but hope you're all doing good. I'll talk to you soon.
Speaker 1: If you're looking for an easy way to launch your business online and start making sales, or a simple way to get fast cash out of your already established business, then check out how I'm making $1,729 per day with a simple one-page website. I break it all down over at 1pagefunnel.com. That's the number 1, pagefunnel.com.
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