Assign a dollar value to this risk - it is part of the TCO for each vendor.
If a system is built internally, the expert who understands the software better than anyone else is employed by your company. What if that person leaves?
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Let's take backup and disaster recovery, for example. In option 1, there isn't as much worry about disaster recovery because the vendor offers the CRM system on a SaaS basis.
10 Tips for Product Owners on (Business) Value
Customers don't have to conduct backups because they trust the vendor to do this. Most SaaS vendors are pretty good about doing this, and their SAS70 certification should explain the procedures they follow to the customer. Option 3 - the large vendor - has a high cost of backup. Most companies overestimate their disaster recovery capabilities. Disk drives go bad all the time. Their "mean time between failure" MTBF is typically just a few years.
It's surprising how bad some IT shops are at this difficult, but critical process. Option 2 - build a solution internally - has all the backup challenges of option 3, plus the necessity of backing up the source code modifications that have been constructed internally, test suites that have been built, and anything else associated with building and maintaining an in-house software system. All managers need to have some system of TCO in place when making decisions on choosing solutions. Vendors will try to manipulate and obfuscate the true TCO of their solution and it will be different for each installation.
For example, some of the costs, like risk and opportunity, are nebulous and hard to define. Vendors will try to make other vendors' solutions look risky. Large companies like to say that dealing with small companies is riskier, but this is not necessarily the case. Large firms can evaporate overnight think Wachovia, Lehmen Brothers. Additionally, large vendors may not view you as large enough of a client to matter if they ignore your needs.
This scenario sheds a positive light on option 4 - choosing a small vendor. Opportunity cost e. But customers must come up with some estimate of opportunity cost for each solution being considered. In the long run, you're the boss. It's all up to you. You get to define the costs and make sure they are a good representation of the issues your business faces.
Don't let a vendor's salesperson take over the process from you.
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The best thing about desktop wallpaper is that it serves as a constant reminder of your brand. This can be a great way to make sure a lead thinks of you when they are thinking about who to hire for their next photoshoot or design project. Simply ask users to create an account with you in order to use your app. Then, you can send them emails to help increase their engagement, and encourage them to buy your premium product. Businesses like to create communities in order to have a dialog between their brand and their prospects. There are several reasons why this lead magnet is so genius, and why you should think about doing a challenge as a lead magnet too….
Thinking about creating your own membership site? You might want to consider offering free registration. My Copyblogger Membership is a great example of using a membership site as a lead magnet. I especially love their use of social proof and fear of missing out. Check out our top picks for WordPress membership site plugins! It just goes to show that people really do value communities. I tested a few different offers instead, such as a checklist of exercises that every pregnant woman should avoid.
Depending on your target market and where they hang out online, a Facebook group may not be a feasible option. However, you could offer a Slack group instead. This can be a really fun—and powerful—way to build a community around your brand. Usually, the goal of a lead magnet is to move top of funnel prospects into the middle of your funnel , or the evaluation phase.
However, not all customer journeys are that linear. You need to be prepared for these hot prospects by building lead magnets at the bottom of your funnel. Most software companies will have a large call to action to sign up for a free trial or demo right on their homepage. SnackNation offers a free sample box of their product. They just ask for your work email address no credit card required.
A coupon works really well at the bottom of your funnel because most people who make online purchases like to shop around for deals. Your brand should be there to give those people what they are looking for in exchange for their email address, of course. Prospects at the bottom of the funnel love to read case studies.
This type of lead magnet could give them that one last push they need to buy your product. This is simply a compilation of case studies from people who used their service, packaged in PDF format. Do you have an upcoming product launch? You can use a waitlist to collect the emails of prospects at the bottom of your funnel. This way, they can collect email addresses of bottom-of-funnel prospects all throughout the year, and build up anticipation for the program. To sweeten the deal of getting on your waitlist, you might want to offer an early bird discount.
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This is a great way to reward your most enthusiastic prospects at the bottom of your funnel. Free shipping is one of those things that everyone wants when it comes to shopping online. So if someone is really close to making a purchase, free shipping just might be the offer that seals the deal. Many lawyers offer free consultations as lead magnets.
Ecommerce Shipping Best Practices
This could be a great bottom of funnel offer for you as well if you offer a service. The best thing about a free consult is that it gives you a very natural excuse to ask for the email address, and even a phone number and other relevant information. If you need to close someone over the phone, this is a natural opportunity to do that. Instead of a free consultation, you could offer a free quote.
With most lead magnets, you would never be able to ask for this much information upfront. However, because a free quote is at the bottom of your funnel, these prospects are more willing to give out their detailed information. Just remember to ask for their email address on the order form. Go ahead and pick one of these high-converting lead magnet ideas, and then tweak it to create your own. Get started with OptinMonster today to convert more website visitors into subscribers!
Comments Thomas Griffin November 7, at am Thanks for reading this article — I hope you found it helpful. Woah, Mary…Thanks for all the examples. The points are very easy to go through with them.
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