Here’s a statistic that’s probably made up:
Only 3% of people who your marketing reaches are ready to buy at the point they read/see/consume/watch your message.
Just think about that for a second:
Only 3% are ready to buy.
Which means 97% aren’t ready to buy.
This doesn’t mean 97% don’t want to buy…
… just 97% aren’t ready to make a purchase YET.
(Actually, I was being glib and this isn’t made up at all.
It’s called the 3% Rule and it was coined by sales specialist Chet Holmes.)
What it shows is that most, if not all, your marketing and advertising is focused on trying to attract the tiny 3% of people who want to buy there and then.
Most marketing completely ignores the other segments of buyers, such as:
- Those who are interested but don’t want to buy yet
- Those who want to buy but don’t have the money yet
- Those who want to buy but want to wait until a specific time
- Those who may buy when they’ve found out more about the product
- Etc, etc…
This list could go on.
What it highlights is that there are people who are still willing and able to spend money with you… you simple have to keep going with them.
Again, it comes back to the other side of marketing success:
Firstly, if your marketing doesn’t in some way aim to capture data for sustained follow-up, you’re missing out on a HUGE chunk of this 97%.
It is CRITICAL you change this IMMEDIATELY.
Don’t just sell in your ads, give something away as well for those who want to delay their decision for whatever motivation.
Give them an opportunity to raise their hand EVEN IF they’re not buying right now.
You fail them by not doing this, because this next bit is important…
… you have to FOLLOW-UP.
I’m amazed how few people properly follow up a lead.
I see people softly emailing a prospect a couple of times to see if “they’re still interested”.
Make it an imperative to re-deliver your message back to your prospects consistently and PERSISTENTLY
There’s another (probably made-up) statistic that shows the exact value of persistence. It reads like this:
- 44% of sales people give up after the first ‘no’
- 22% of sales people give up after two ‘no’s
- 14% of sales people give up after three ‘no’s
- 12% of sales people give up after four ‘no’s
Which, unbelievably means that only 8% of sales people ask for an order five times or more.
(If you want to find the world’s most successful sales people, I’m willing to bet you’ll find them snuggled into that little group right there.)
It doesn’t make ANY sense to skimp on the follow-up.
Technology now makes this SOOOOOO goddamn simple.
Recent case in point, from my own humble experience.
Six months ago, I spoke to an entrepreneur about writing some copy for a project he was working on. He decided to shelve the product temporarily but asked me to get in contact six months later when he was scheduled to work on it again.
Six months to that day, I emailed him again.
Less than two days later, he’s a client.
One tiny, ickle reminder set on a calendar.
One new client, one new lump of cash in the bank account.
Don’t do MORE marketing.
In the next few days, try following-up on the leads you already have (even REALLY old ones) and you could find a ton of cash just sitting there waiting to jump right into your pocket.
A percentage will now be ready to buy and a percentage will now be more willing to purchase.
Follow up and you get a chunk of those percentages.
Do it. Do it now.
(Or tomorrow depending on your time zone…)