90% of inquiries that come from your advertising will most likely NOT buy from you on the first contact.
90% At least.
Just let that number sink in for a minute. That means the 1 person in every 10 who DOES buy from you has to cover all your marketing costs AND generate profit.
Imagine if you could increase that, even by just one more person. You’d double the return on your advertising. Now imagine tripling or even quadrupling that!
It’s actually not that hard. The sad truth is we put so much effort (and money!) into getting more inquiries and leads that we forget about the ones we’ve already got. And those 9 people out of every 10 who DIDN’T buy from you immediately, in most cases didn’t buy from your competitor either. They just didn’t buy at all!
So what’s the answer? They said no, or didn’t even answer your call, so that’s it, right? WRONG!
Good marketers and salespeople know the money is in the follow up. Look at these stats…
- It can take 7-12 touchpoints to convert a lead into a sale
- Some people will be on your marketing list for 6-12 months before they buy from you
- 95% of leads that convert into sales only buy on, or after, the 6th follow up call
- 40% of sales people give up after the first call
- 92% of sales people give up after the 4th call
- That means 8% of sales people are making 95% of the sales. Are you one of them???
When it comes to sales, no doesn’t always mean not ever. It just means no right now. Maybe the time wasn’t right. Maybe they got distracted by a more immediate problem. Maybe their pain just wasn’t bad enough to act at that moment. Maybe their current supplier will slip up, or close down. The point is that when people are ready to buy, you need to be there or they’ll buy from someone else.
The answer is to make sure you’re nurturing those people. Stay in touch via email and SMS. Yep, old school channels that are CRUSHING it with enormous returns on investment. But you have to do it well.
Offer massive value, don’t always be making a sales pitch. Give people useful tips that help solve a problem or achieve a goal they’re after. Offer downloads they can use to make their day a bit easier. This gives them an insight into how much better things would be when they’re working with you. Then every so often (we recommend one email or SMS out of 4 or 5) make an irresistible offer to convert them into a paying customer.
A really successful strategy we use looks like this…
- A person signs up from an online ad, usually Facebook, to receive a lead magnet (a checklist, ebook or webinar registration).
- On the thank you page after they fill in the lead form they’re shown a link to join a Facebook group where we can build trust and authority.
- They immediately receive an email with the lead magnet and an outline of the next few emails they’ll get
- The following day they get an email with some advice on how to use the lead magnet we sent the previous day. They also get an SMS reminding them to check spam if they don’t have the email
- The next day, or the day after, they get another useful tool. Could be an ebook, a checklist or a process or an infographic depending on the client we’re working with and the market they’re in.
- On the fourth day, we invite them onto a call where they’ll get some really useful tips even if they don’t end up working with us or the client.
- From there they go into regular email newsletters and offers.
If you start implementing this religiously the only thing that can happen is an increase in your conversion rates, an increase in your sales and an increase in your profits.
Not sure where to start? Or how to make sure your email and SMS marketing is hitting the mark? Ask us for a free 30-minute strategy session to see what you could be doing better.
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