So you’re hell bent on experiencing success, is that right? And you say, you’ve certainly done more than your fair share of studying, investing, (both) of your extremely valuable time and hard earned money, on various courses, and attended more than your share of tele-seminars and or webinars etc.
Do I have that right? And yet, (to date) the so called brass ring of major success,has still alluded you, and quite frankly, you’re starting to feel a little fed up with this entire situation, correct?
Let me ask you a question. Are you a baseball fan by any chance? If so, do you know and understand, you can be wrong, a staggering 70% of the time, and still not only be considered a major success!
But if you can consistently be wrong, a staggering 70% of the time for over the span of a twenty plus year career, you can also become multi millionaire in the process!How cool is that? Sound odd? Please read on for all of the captivating details!
So How Can A Staggering Sixty Seven Percent Success Rate Still Be Considered A Failure?
First of all, let’s clear up a train of thought, which was shared in the last paragraph.How many potential business situations, can you think of, where the business owner/entrepreneur, can be wrong a staggering 70% of the time, and still come out a winner?
Actually, there are far more situations, than you might currently realize, and or fully appreciate, where being wrong (a staggering) 70% of the time, can still equal major financial success for any aspiring entrepreneurs.
But first, (just to complete) the previous thought. Do you realize, a successful major league baseball player,and quite possibly, future hall of famer, who’s able to consistently average (just) three hits, out of every ten at bats (and or attempts), in reality, has an all star batting average of 300%!
Do you realize, a 300% batting average, spread over a twenty year career, in all likelihood, means they are probably headed into the baseball hall of fame! Even though, statistically speaking, they’re wrong, a staggering 70% of the time!
Meaning, on average, for every ten at bats, they will usually average just three hits! And the other seven times they make an out!Pretty amazing, when you put things in their proper perspective, right?
There Are Certain Times When Your Online Business Simply Can’t Afford A Sixty Seven Percent Success Rate!
And just to put things into even more of the proper perspective. If by chance, (and certainly) don’t hold your breath, but if any major league baseball player, could sustain a batting average of sixty seven percent (or in reality) a staggering 670% batting average, for just one season!
They would be considered, the greatest hitter ever, for just one season! Because that would mean (ladies & gentlemen), they averaged an incredible, sixty seven hits, per every 100 at bat (attempts)!Or, a staggering 670 hits, per every 1,000 at bats!
Not to worry, because it’s extremely unlikely, it will ever happen!That said, you do of course realize and (hopefully) appreciate, if you have a 30% opt in email/mobile marketing rate of response.
In reality, that means for every 100 individuals, who get exposed to your list building offer, 70% of them, or seven out of every ten, have in fact declined your initial offer.
However, my friend a 30% opt in email rate and or a 30%, sales conversion rate, means your business/entrepreneurial future, looks extremely good! Don’t you agree?
Stop and think about it for just a second.If your sales letter, on or offline, consistently produces seven sales, out of every ten prospects exposed to it, and you’re selling a product or service worth thousands of dollars, and you’re exposing ten-s of thousands of targeted prospects/customers to it.
My friend, you are going to make a ton of money!(And that’s just on the front end of your sales funnel!)
Where And How Far Too Many Aspiring Online Entrepreneurs Totally Miss The Boat! (Again And Again!)
Ladies & gentlemen, here’s the main hub of this particular post. Whether you are currently aware of it or not. Right now, on average, a staggering 67% of all online shopping carts, experience, what’s more affectionately referred to as, “shopping cart abandonment!”
Which (unfortunately) for you and I, means on average, a staggering 67% of the online visitors, who fill out an online shopping cart, tend to (for whatever) reasons, leave (abandon) their cart, without completing their transaction!
And yes, this (all too common) phenomenon, even happens with the gurus as well as the mega successful online shopping retailers!So it’s far more prevalent, than you may have originally been led to believe!
Hopefully now, after digesting these all too sobering facts, you can now, and or you’re starting to appreciate, why in certain (business) situations, a sixty seven percent shopping cart “abandonment rate”, is not such good thing!Right?
It’s all a matter of perspective, don’t you agree? So that’s probably one particular success rate, you definitely want to avoid.Don’t you agree? Now as is customary during this part of our show.
Please share your extremely valuable comments (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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Great topic Mark. I’m going to comment on this from the perspective of a customer because I’ve abandoned more than a few shopping carts and I’d like to share why. A surprising number of sellers have bought into the strategy of creating a colorful dog and pony show around why their product is a must buy, but keep the price hidden so that people have to click on their “Buy Now” button to find out what the investment is. I assume the thinking is that once you’re there you’re more likely to buy, but I think it invites shopping cart abandonment. When I have to jump through a hoop just to find out what something costs that already sets me up with a bias against the seller – what else aren’t they telling me? Whew! Feels good to finally get that off my chest. 🙂
Marquita Herald recently posted…My “Stop Doing” List Experiment
Thanks M!
And I have to echo your sentiments! It’s as if, they convey the subtle message,
they are not truly about serving and nurturing their relationship with their
potential customers/clients and or patients etc!
Instead, as you so eloquently pointed out, it’s all about how fast and how many
orders they think their (probably) market tested and or suggested strategy can
generate and maximize sales!
Kinda of sad right, but sadly, it is most definitely a far to prevalent
mind set!Thank you for sharing some extremely keen insights M! Much appreciated!
Mark Newsome recently posted…Best Lead Magnets: Three Incredibly Simple Reasons Why They’re Really Not That Expensive!