Selling Tips To Increase Conversions On Social Media & eCommerce | Ethan Bridge | Skillshare

Playback Speed


  • 0.5x
  • 1x (Normal)
  • 1.25x
  • 1.5x
  • 2x

Selling Tips To Increase Conversions On Social Media & eCommerce

teacher avatar Ethan Bridge, Social Media Marketing Coach

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

10 Lessons (27m)
    • 1. Course Introduction

      1:05
    • 2. The Perceived Discount Size

      1:38
    • 3. Daily Equivalent Comparisons

      2:07
    • 4. Decoy Pricing

      3:02
    • 5. Social Proof

      2:18
    • 6. Scarcity

      3:59
    • 7. Leveraging Loss Aversion

      2:08
    • 8. Loyalty Schemes & Gift Cards

      4:55
    • 9. Reciprocity

      3:32
    • 10. Course Conclusion & Your Project

      2:16
  • --
  • Beginner level
  • Intermediate level
  • Advanced level
  • All levels
  • Beg/Int level
  • Int/Adv level

Community Generated

The level is determined by a majority opinion of students who have reviewed this class. The teacher's recommendation is shown until at least 5 student responses are collected.

84

Students

--

Projects

About This Class

Are you struggling to get new leads? Is nobody buying your product or service? Are you even struggling to convert your warmest leads? Or, do you want to get a head start with your product page to maximize your conversion rate?

If you answered yes to any of those questions then this is the PERFECT class for you.

9359de59

In this Skillshare class, I will be sharing 8 of my favourite psychological sales techniques that are going to help you turn that stubborn lead into your next high paying customer!

In the techniques discussed are as below:

Module 1: The perceived size of your discount

Module 2: Daily equivalent comparisons

Module 3: Decoy pricing

Module 4: Social proof

Module 5: Scarcity

Module 6: Leveraging loss aversion

Module 7: Loyalty schemes & Gift card thresholds

Module 8: Reciprocity (Jab, jab, jab, right hook)

I can't wait to see you inside the class! Let's optimize your product page and sales funnel so that you can increase your customer conversion rate.

----------

For more social media marketing advice listen to my podcast Social Media Marketing School.

Follow me on Instagram: @themarketingethan

Meet Your Teacher

Teacher Profile Image

Ethan Bridge

Social Media Marketing Coach

Teacher

Ethan Bridge is a social media marketing expert from London, England.

He discovered his passion for social media marketing when he launched a podcast where he interviewed entrepreneurs, discussing their journeys, and extracting key tips for business success. Guests included 7 and 8 figure business owners, investors, NBA & NFL stars and so many more inspiring individuals.

This podcast was the foundation of his social media marketing career. It ignited that flame and provided him with a plethora of business knowledge. Ethan now hosts the popular podcast Social Media Marketing School - your one-stop-shop for everything you need to know about social media marketing.

 

 

Ethan is also in the process of building his personal brand... See full profile

Class Ratings

Expectations Met?
  • Exceeded!
    0%
  • Yes
    0%
  • Somewhat
    0%
  • Not really
    0%
Reviews Archive

In October 2018, we updated our review system to improve the way we collect feedback. Below are the reviews written before that update.

Why Join Skillshare?

Take award-winning Skillshare Original Classes

Each class has short lessons, hands-on projects

Your membership supports Skillshare teachers

Learn From Anywhere

Take classes on the go with the Skillshare app. Stream or download to watch on the plane, the subway, or wherever you learn best.

Transcripts

1. Course Introduction: Social media, even at the best of times, can be incredibly difficult to make a psi along. Even if you've got these super, super warm customers and they pretty much set up for the self for some reason. Sometimes they still don't want to say yes to the purchase. It's incredibly frustrating. But what if I told you there was a simple psychological selling tricks that you could use to try and make that customer say Yes, just that little bit easier. Hi guys. My name is Ethan Berry, time host of the social media marketing School Podcast. And the guy behind me Instagram page at the marketing Ethan. And in today's skill share class, I'm gonna be walking through several psychological selling tricks that you can use to make more sales on social media. I'm going to take out that worry of not being able to convert those costumers and just give you those little psychological hacks that may turn that no into a yes. So if any of that sounds appealing, I hope to see you in the first module. 2. The Perceived Discount Size: Now these tricks can be used in your Facebook ad copy, they can be used in your Instagram captions. They can be used on your story's pretty much anywhere you, so your product or service, these tricks can be used. So without any further ado, let's just dive straight into the first tip. So the first thing I want you to think about is the perceived size of your discount. So if I said to you 20% of a 40 pounds or if I said eight pounds of which one sounds more appealing, in my opinion, is definitely the 20% of a 40 pounds. 20% seems so much larger than eight pounds off is because you've got that 20 opposed to eight. And in the eyes of the consumer, they feel as if they're getting a better discount. Now they know, because technically they're exactly the same, but there is that perception that they are getting an increased discount. So when you are actually putting your copy on your ads. So this could be in your Facebook ads and you're thinking, well, how am I going to write out this discount? I'm offering a price discount. How am I going to structure it? Let's say your product is 50 pounds. You don't want to say ten pounds off, you will see 20% of that sounds far better of a discount to the consumer. And it's all just psychological. You've probably falling for it. I've definitely fallen for it. You've definitely got family members that are falling for a beaches don't realize is that perceived value of that discount. So when you are talking about your price, make sure you consider that and always go for the type of discount that sounds larger because it's not larger, but it sounds, it. 3. Daily Equivalent Comparisons: Now moving on to tip number two and this is one acquire lock, and it's something that a lot of brands do, but I do think more people should do it. Let say you have a product or a service and it costs a monthly fee of ten pounds. Ten pounds a month. Isn't that much in the grand scheme of things, but when people don't actually need it, they still don't want to have that recurring costs of ten pounds a month. So what you do, what you do is you tell them that it's an equivalent to something they may buy daily. Now, what is ten pounds The equivalent to its two cups of coffee, two cups of coffee a month that this person is going to have to sacrifice in order to sign up to your service or even buy your product. Now when you put it in those terms, it seems like nothing because people just go out and buy a coffee. Like it's nothing. They don't care about the money they're spending there. But for some reason in the back of their mind when they're looking at the price of your product or service that are thinking right, Task ten pounds a month to I really need to be spending there. But if you compare it to something that they buy daily out of habit, then you are normally able to convert the customer because in their minds and then comparing it to something that they never even think about when they purchase it. So compare it to something that people buy daily, something people don't think about, but it can also be a necessity. People don't care if you compare it to saying buying bread or buying milk. They need that dignify that anyway, cups of coffee from Starbucks or pret you name it, whatever you place you get your coffee from. You didn't need to do that. You can go and buy BOC coffee from the supermarket and make it much cheaper. You don't need to be spending extortionate amounts on coffee like 5-pound. I know I sound like Graeme Stephens. Besides the point, you don't need to be spending five pounds on a coffee and that person knows that, but they just do it anyway. So if you compare the price of your product or service to this thing that the person doesn't need anyway, they think, okay, fine, I'll just cut out two cups of coffee a month. And I can now have this great product or service. So tip number to compare the price to something that people buy normally, but don't need. 4. Decoy Pricing: Moving on to tip number three. And it's something that you'll be very, very familiar with and you may not realize, but you see it day-to-day. And it's DIY coil pricing. So effectively what decoys pricing is, you have three product options. You have a spawns, a silver and gold or for this sacred undergoes small, medium, large. So when you're going to Starbucks, obviously they've got the small, medium and large coffees. And you'll see that there is quite a big difference between small and the medium price is the small might be two pounds 20, and the media may be, and the medium may be three pounds 20. She got that pound difference. But then the large only costs three pounds 40, which is only 20 pence more than the medium. So if you're coming in there with the mindset of buying a medium, but then you see the large coffee is only 20 pence more, you think? Okay, whatever that's 20 pay does next to nothing for me. I'm going to pay that and get the large because you may as well, you get more value for your money. But that medium actually only exists to sell the large. These companies only want to sell the small and the large ones. The medium just is there to push the upsell to the large. But in turn that gets people to spend more money. So it's a good psychological trick by these brands. Mcdonald's does it as well. You've got small mill media mailed large mil. Now this is slightly different because some people may want to be more healthy so they don't get the large middle. They still walk for the medium, but this is the same, but it's the same concept. The small and the medium are quite substantial differences in prices, whereas the large is only like 25 people, 30 p more than the medium. So if you're only going in there with the facts of, I'm hungry, I won't food. You see that little artists only 25 pee more, 20 PMO and you go for that opposed to the medium. But if you think about that, if everybody goes in and it does that the company is making so much more money because everyone is buying that larger size. So try and not get fooled by this when you go into places because a lot of places do it. The medium only exists to sell the large. Now, how can you actually put this into a product or service that you? So now, think about it this way. Let's say you are a social media coach or a business coach. Now, you may have three different packages for your service. You may have a bronze or silver and gold, your bronze is your very basic. It may just be one or two coaching sessions with a couple of Q and A's amongst a group of people, your medium, which is going to be a substantially more, may include only a couple more coaching sessions and maybe a few one-to-ones and you name it whatever you want to put in your coach and package. But then your gold package may have way more contents, but only cost slightly more that your silver CSI people aren't going to buy that silver and no matter what, they're either going to buy or basic or they're going to buy your really advanced. So that pushes more people to spend more money on you, your product and your service. And what does that mean? More money in your pocket? Ideal. 5. Social Proof: So now I'm actually going to veer away from pricing techniques and talk about some more social oriented techniques. Number one, being social proof. Social proof is a lot nowadays when if you've ever bought products now and not gone to look up reviews or testimonials of people looking and talking about that product. Whenever I buy a piece of tech, whenever this microphone, this camera, there's laptop. I watched a ton of reviews to make sure I was buying the right thing, and I'm sure you do too. So you need to think about this when you're selling your product or service. You need reviews, you need testimonials, you need other people sharing stuff about you. If you were coach, for example, if you've been shed by Forbes, that cement you as an authentic name in that niche. That say you have a huge tech, huge Uber reviewing your product, have that review on your website. Any reviews that people leave, have them on your website if they are good, of course. But these testimonials and this social proof really does force people to buy, especially if they're clicking through a Facebook ad, for example, when they've never heard of you before. So this is the first time they are seeing your product. They're clicking through. They are interested because they've seen your ad and it's compelling. And I think this looks quite cool and see what it's about is how much it costs that go through to your website. If you've got no reviews, there, looks a little scummy they might be thinking brought, Do I really want to put money into this product or service when there's no one really saying anything about it. Never heard of this company before. Are they legit? You probably wouldn. But if you've got a ton of reviews on your website page and you've got testimonials from big names or current clients. Or you've been shared by Forbes, Yahoo Finance, you name it. People are going to now look at that and go, okay, this is legit. Other people have said it's good, it's worthwhile, and therefore, I'm going to buy it. So you need to be thinking about this social proof when you are setting up your product page, when you are signing on clients, when you are just promoting yourself in general. So that was tip number four. Make sure you have some social proof for your product or service. 6. Scarcity: Tip number five. And now this one, you probably also have been fooled by, I definitely have Amazon do over time, lots of big companies do it all the time and its scarcity. Now what do I mean by scarcity? Either mean that you're telling your customers that there is a limited supply of something or that the discount is only available for certain period of time. So you may be saying there is only a 100 spaces for this course, there are only a 100 tickets for this event. There are only 100 products for this item. Di scarcity because people are now thinking right, there's only a 100 and tacit, This is my only chance. As soon as they sell out, gone forever. I'm never gonna be able to get one again. So what a by one now. Now it's even better if you then have a countdown timer showing how many are left. So as soon as someone buys one goes down. So when people actually gone to the website, they can see how many spaces are left, how many products are left. Now if there's only ten, they're going to be thinking, OK, now I definitely need to buy there's only ten left. This is my final chance of voids there going to be gone within the next ten minutes. So if you create some scarcity in that aspect, people going to feel rushed and they're going to feel as if they need to buy right away. Another way, very similar to do that is by saying that your discount is only available for a certain period of time. You may release a course and you say for the first week, for the first seven days by I am going to be listing this course at 75% off after that point is going to be going back up to full price. So if you don't capitalize on this now, you are going to miss out on a massive discount. Again, people are going to look at that. And if you build up that social proof before, if you've got that following, he got those loyal fans, they're going to be thinking bright. I know this guy knows what he's talking about. So this course is going to be very good. So I do want to sign up to it, but if I don't sign up now, I am not going to get this for the best price I can. I may have to sign up in two weeks time. Patriot with the price quadrupled applies, you name it. So if you're letting your customers know about this upon release, they're going to be thinking, okay, I need to buy this right now. If I want to save as much money as possible. Now, this is a great one for courses. If you are a course maker, Social Media Marketing guru, drop ship, or, or you name it, anyone that has a course. Try this out. You all go into lose too much money in the long run. Because now let's say you release a course at $250 and this is your full price. You're going to leave it at this price forever. And for simplicity sake, we're going to say because you just release it out that full price and don't have any promotion, you'll get four sales as a $1000. But now let's say you release it for a limited time for the first week at a $100. That's a really compelling price, has a 150. And now people are going to be thinking Ri, and he'd get this now. Otherwise in two weeks time, three weeks time, I'm going to have to pay $250 for this and I want this course. Some kind sign-up was I can get it for cheap. A lot of people are going to be thinking that way. So even though you were listening previously and it's getting more money from your customers. At $250, you sold for 4 thousand. If you release a $100, you may get 15-20 sign-ups. Task 1500 or $2 thousand that substantially more than those for you sold 250. Now, you didn't have any extra work you've already created. The course is just passive from that point forward, we have to do is send them it. But because you released it, slightly reduced price. Overrule. You might move money. So try that scarcity, try that limited time pricing, try the limited product released and see how it goes. It really forces people to rush their purchase and try and get him before they miss out on that price reduction. 7. Leveraging Loss Aversion: Leveraging, loss aversion, or what many of you will know as fear of missing out FOMO, leveraging loss aversion is basically telling someone, Oh, so you don't want to achieve this. For example, let's say you have a course. Let's say you have a course on Instagram carries a lot of money off of Scotia courses around that. So I'm just giving this as an example. If somebody goes to buy an Instagram golf course, but they don't actually end up purchasing that. You can have pop-up goes. Oh, so you don't want to grow your Instagram account to achieve great success. Oh, you don't want to monetize your Instagram page, or you don't want to achieve other goals that all of your competition or achieving. Now your customers thinking, ah, I kind of really want to buy that now I kind of want to be that I don't want to miss out on this fantastic opportunity that everyone else is getting to experience because they have purchased this product. You are basically telling people the good things that they are going to be missing out on if they don't purchase your product. Even though if they don't purchase it, they aren't parsing way with their money. So if they don't purchase it, they keep money in their pocket. When if they do purchase it, they accelerate and grow their business on Instagram. Win. But psychologically, that fear of missing out outweighs the money still being in their bank account. They think I'm wrong. I don't want my competition to get ahead of me. I want to propel my personal growth and want to improve my business. So this is really an opportunity that I don't want to miss out on. Such as giving people that guilt trip, that's psychological feeling of the fact that they will be missing out if they don't purchase your product is a phenomenal one to actually push them over the edge and make them purchase. So I know this was only a little quick tip, but it is one that can really encouraged those conversions and make customers say yes to what you're offering. So leveraged that loss aversion, make them feel as if they're missing out. And trust me, you will convert more customers. 8. Loyalty Schemes & Gift Cards: So moving on to the next tip. And this one is all about loyalty schemes. And then I'm also going to throw in a little bonus point. Now, loyalty schemes on what really for those first-time customers there, for those repeat customers, they are getting that first customer to come back. Again. Obviously the other points are relating to get into that first customer, but now you can actually do that and you've got that inkling of how you can actually convert those customers. Now you want to keep them. So this point is just going to teach you how to keep those customers on board for a longer period of time and a loyalty scheme, as you would do be aware, our brilliant, but I am going to give you an example of how you can actually make a loyalty scheme much more effective. Now being a little bit of a marketing nerd, I find this one quite interesting. Now I want you to think about this when you are given a loyalty card and it's got spaces for stamps. So let's talk about Starbucks for example. They give you a loyalty card. And on that loyalty card, there are eight spaces that have to be stamped. And when you achieve a stamps, you get a free coffee is pretty simple. Now, if you were frequent Starbucks Via desk, great. You're going to get one of these cards because you're going to keep coming back in and then you just know eventually you're gonna get a free coffee because it's just part of your average day, but there is a better way of doing it. Now you don't want to offer a blank loyalty card with eight slots. Instead, what you want to do is you want to offer a loyalty card that has ten slots. But it's already got WHO completed at the end of the day? Loyalty card one and loyalty card to both require the same amount of stamps still to achieve that free coffee. But in the eyes of the consumer, that log d CO2 that had ten stamps but already has two completed. That's already part way there is on its way to already being completed. You've they've given you headstall. So psychologically your thinking, right? Would you give me two free stamps? I don't have to come as many times as what other people are coming because they've given me two free stamps. And as a consumer, you're thinking, right, I'm going to finish this card. I want that free coffee because they've already got me going. So essentially what that loyalty card is doing is it's getting you excited because you're thinking, right? They've essentially given me two what would be free stamps. I haven't had to buy those coffees to get those stamps yet. They've given to me anyway, that as a company, you know, that they still gotta get the same amount of stamps as the blank loyalty card. But the psychology of the consumer is they're thinking, well, I'm already part way there to finish it in this card, so I may as well complete it. So you come back again. That is how you turn singular customer into repeat customer. Now you could do this again as a coach. For example, if you're a coach, you could do this with coaching sessions. You can have a loyalty program and it can be done in the exact same way as the coffees. So you could just have a loyalty program where you say, look, I'm going to start you off here and doing your favor. After every ten sessions, I normally give my students a free coaching class, but I'm gonna get you part the way. They're already just like some filling gets down and it keeps you two coaching sessions on your logical already. So you've just got eight to go. It's as simple as that. Psychologically there is individuals like, okay, I kinda wanna get scot-free one now because at the end of the day that's a free coaching course and I'm already part way there. So might as well, such as the little hack tried out, load these games are a great way to do it. Now another one I wanted to tell you about, similar to Lord, these games is a gift card. Have the opportunity for someone to get a gift card if they spend over a certain threshold on your store or on your services. So for example, if you spend over a 100 pounds, get a free ten pound gift card. Not only is that going to increase your average order value because people are gonna try and spend, especially if they're near, let's say they buy a product for 85 pounds or 90 pounds. I think you've only gotta get 15 more pounds on this order, or ten more pounds on this order. And then I get a ten pound gift card anyway. So you're increasing the average order value. You're bumping up person over that threshold. So they are spending more with you, but then you're going to give them that gift card in their minds, I think in back and a free ten pounds here. But you're thinking, no, I've already made extra money from you Hayek's or push you over the threshold. And now that you've got this gift card, you're going to come back again and spend even more money with me. So now that this customer actually does get the gift card, they've already spent money with you. Banana gift code's going to be burning a hole in their pocket. They're going to be wanting to spend that because they've essentially got free ten pounds in the hand, but only to spend with you. So they're going to come back and spend even more money with your store. So it's just another little trick that I like to use that encouraged people to use. So loyalties, games and gift cards make them a part of your strategy. 9. Reciprocity: Now the final tip I want to talk about is something that man Gary Vee talks about all the time. And it's the concept of jab, jab, jab, right hook. If you haven't read his book On that, I definitely recommend it. But essentially what it says, jab, jab. Jab is you providing a product or service continuously for-free over a certain amount of time. And that right hook is then where you are ask for something in return for me, your audience. So you may have been producing content for 4-5-6 months, responding to DEMs for free, literally helping as many people as you can. While South scheme for nothing in return. But because you have done so much for these individuals over that period of time, you have built that relationship, you've built that loyal fan base, and these people are now gonna almost fit as if they owe you in return. So if you ask for something, they feel obliged to give something back in return because you've given so much to them for free. So after you have provided this product or service for an extended period of time for free out of the kindness of your heart because you want to build this relationship with your audience. You want to build a loyal tribe. You can now go in for that UCSC. And now because you've given so much time to your audience in the past egg going to feel guilty if they say no, what are they going to do? They're going to buy your product or service. It may just be a 999 ebook or sure. Introductory course that costs about 30-40 dollars. Obviously, don't want to go in for this. Ask with a four hundred, five hundred pound course because they may not want to purchase something like that. It's best to do this with something like an ebook in 1999, smaller prices because it's more affordable and more people be able to buy it because you've helped us substantial amount people here and they fill is if they owe you. So the chances are a lot of these people going to buy a much cheaper product or service. So try it with an ebook. But also when you think about this, you need to be careful about when you do end up monetizing your social following. Now, you don't want to damage your reputation in the long run by having to 300 followers, no real reputation. You haven't really built a name for yourself. And then go right guys, I've got an eBook at 20 pounds by it. You haven't built that relationship, you haven't built up that substantial audience. You've got no rule loyal fans. So when you do try and then build that audience and get those sales, nothing's really going to happen. You might get one or two sales from those two or 300 followers who just see and think, wow, that could be helpful. But if you wait and wait, and wait, and you start seeing the demand, people are asking you questions. You've built their authority and people want to pick your brain. That is when you can start seeing, okay, there is clearly a demand for my knowledge now, but as soon as you see that, don't then go right now's the time to monetize because there still could be a little bit more time for you to build it up and gets the point where there is a lot of people that fill is if they IOU, that, that is the moment you monetize. You don't want to monetize too early, it will damage your potential earnings in the long run way into you see that consistent demand, people wanting to pick your brain, people asking for your advice, your opinions. That is when you go into that right hook. So jab, jab, jab right hook. And that rounds up my psychological tips and tricks to selling on social. 10. Course Conclusion & Your Project: You have made it to the course conclusion. I just want to thank you all for tuning in to this skill share course on psychological tricks to selling on social media. I really appreciate you taking the course. It's been a pleasure teaching you, but I must tell you your class project now, and it's pretty simple. It's a simple project. One of the most simple projects you're probably going to ever experience or skill share. I just want you to implement one of these techniques that I've told you. If you've got an online store, I want you to take a screenshot of that online store where you have implemented this. If you've implemented at loyalties game, show me how you've implemented there. I want to see that loyalty card. If you've implemented that gift card threshold, shown me how you've done it. I really want to see how this is improving your guys business and how you're actually introducing it. So for example, if you've come up with some brilliant copy on the daily equivalent, I've loved to read it, post them as the project and I will give you my honest feedback. Maybe I can even tell you how to improve them even further. You may nail it first-time, which I trust all of you guys will. But if you want my feedback, that's fine. Asked me in the discussion section or posted as your projects and I can give you some feedback there. And, but if you have enjoyed today's Scotia class, most of my other courses on this platform or to do with Instagram growth and Instagram marketing. Now, if you are interested in that stuff, I'd really appreciate if you guys did check out his classes, if you are interested in Instagram, I promise that they will be beneficial to you and your personal brand or your business. But if not, I have a free resource. I have my podcast, as I mentioned in the introduction, I am the host of the social media marketing School podcast. I will leave a screenshot here. You can find it on pretty much any podcast platform, Apple, Google, Spotify stitcher, you name it. Just head over and search social media marketing school and you will find me there. But if you have any questions with gusto, anything to do with social media marketing, leave it as a discussion point or you can actually reach out to me on Instagram at the marketing Ethernet semi DM? No, make sure I get back to you no matter what. But if you have made this point in the scotia cause I just want to finish off by saying, thank you all for tuning in. It's been an absolute pleasure teaching you and I hope to see you in my other classes.