The Conversion Ratio Conundrum
As an entrepreneur or business owner, the holy grail is to sell at scale. But to truly achieve that level of growth, you need to understand the concept of “true value.” According to Michael Humblet, the key lies in the often overlooked conversion ratio – the number of people who actually purchase your product or service compared to those who engage with your content. Humblet explains that most companies make a critical mistake by spending 90% of their time and resources creating content that solely focuses on their product. The result? A dismal conversion ratio of just 2%. “That won’t work,” Humblet says. “We have to do something else to truly understand what that something else is.”The Value Journey: Inspiration, Education, Expertise
The journey to true value, Humblet argues, begins with inspiration. “I see something, I read something, I see a person on stage or I watch a YouTube video and I get inspired,” he says. “It makes me dream.” But here’s the catch – the dream of a CEO is not the same as the dream of an employee. Humblet made the mistake of assuming that by sharing his inspirational message, he could then simply showcase his product and make the sale. But that approach fell flat, as he witnessed the energy in the room plummet. “I made a very logical thinking mistake,” he admits. “When somebody is inspired, they will always do an in-between step.” That in-between step is education. “People want to know how to do it,” Humblet explains. “They want to educate themselves to do it themselves, because all of us we believe with enough time and money we can do it.” And you know what? They can. The problem arises when you start pushing your educational content, as people will think, “This is good, I can do it myself.” That’s where the final step in the value journey comes into play – expertise. By positioning yourself as the expert, you can offer a shortcut in time, allowing your customers to say, “You’re the expert, do it for me.” This is the “ultimate delivery” that will drive your sales at scale.Shifting the Content Ratio
So, how do you put this value journey into practice? Humblet suggests a simple shift in your content strategy. Instead of spending 90% of your time talking about your product and pushing content, why not spend 75% of your time producing inspirational and educational content? This approach may not yield immediate results, as Humblet warns, “They won’t believe you at first.” But once you get through that initial skepticism, you’ll be able to scale the trust you’ve built, and that’s when the sales will start to soar.Crafting Inspirational Content
The first step in this content strategy is to create inspirational content that ignites your audience’s dreams and aspirations. This could take the form of:- Thought-provoking blog posts that challenge the status quo
- Interviews with industry leaders who share their personal journeys
- Motivational videos that tap into your audience’s deepest desires
- Webinars that provide a glimpse into the future of your industry
Developing Educational Content
Once you’ve captured their attention with inspirational content, it’s time to provide the “how-to” guidance your audience craves. This educational content should cover the step-by-step process of achieving their goals, whether that’s:- In-depth blog posts that dive deep into a specific topic
- Comprehensive video tutorials that walk viewers through a technique
- Downloadable guides or checklists that simplify a complex task
- Live Q&A sessions where you answer your audience’s burning questions
Establishing Your Expertise
With a solid foundation of inspirational and educational content, you can now confidently position yourself as the go-to expert in your industry. This could involve:- Sharing case studies or success stories that demonstrate your proven track record
- Highlighting your unique qualifications, certifications, or industry accolades
- Offering personalized consulting or coaching services to help your audience achieve their goals
- Promoting your flagship products or services as the ultimate solution to your audience’s problems