Buying cycle: 97% of your target Audience is not ready to buy
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Buying cycle: 97% of your target Audience is not ready to buy
Buying cycle
By buying cycle means, some still talk about sales cycle, the successive stages of the process leading to the decision to purchase a marketing target.
Some of the sales and marketing strategies that I have been able to study or to which I participated focused on one goal: to sell to prospects who are ready to move on to the actual purchase date. The rest being considered a mere waste of time.
From a commercial and marketing point of view, it is a strategy that takes the road. In a complex global economic environment, at a time when the slightest effort must go through the mill of ROI, so it holds up. However, focus on these very committed prospects, you know, the famous hot prospects, but also show little ambition letting go some nice opportunities.
FOCUS ON THE PROSPECTS OF COMMITTED 3%
Only 3% of your market is ready to buy your product or service. This is an average which can vary from a few points depending on the context. It is in any case a first interesting benchmark.
A large majority of busniesses will focus on these 3%. These 3% as marketing campaigns and sales efforts will target. These 3% that all your competitors will invest. This is because these 3% are easy to turn that competitive pressure is taking its toll. Both say that it will cost you to position.
By buying cycle means, some still talk about sales cycle, the successive stages of the process leading to the decision to purchase a marketing target.
Some of the sales and marketing strategies that I have been able to study or to which I participated focused on one goal: to sell to prospects who are ready to move on to the actual purchase date. The rest being considered a mere waste of time.
From a commercial and marketing point of view, it is a strategy that takes the road. In a complex global economic environment, at a time when the slightest effort must go through the mill of ROI, so it holds up. However, focus on these very committed prospects, you know, the famous hot prospects, but also show little ambition letting go some nice opportunities.
FOCUS ON THE PROSPECTS OF COMMITTED 3%
Only 3% of your market is ready to buy your product or service. This is an average which can vary from a few points depending on the context. It is in any case a first interesting benchmark.
A large majority of busniesses will focus on these 3%. These 3% as marketing campaigns and sales efforts will target. These 3% that all your competitors will invest. This is because these 3% are easy to turn that competitive pressure is taking its toll. Both say that it will cost you to position.
Let's be clear, I'm not going to invite you to drop the prospects who are on the verge of passing you a big order. Instead I would like to draw your attention on how to address them, you approach it. Let your competitors waste their time and money to be determined to recover by all means phone numbers and emails of potential customers in your market. Let spamming mailboxes and fill mailboxes to detect possibly end up 3% loan prospects to purchase.
KEEP IN TOUCH WITH THE REMAINING 97%
Sales cycle. Buying cycle. Stages of the buying decision. In short, every member of your target market is more or less close to the actual purchase. This is a very comprehensive approach to your entire market.
Sales Cycle
Beyond the 3% of committed prospects, the rest of your market positions of 4 phases of the buying cycle:
7% are open to the idea of eventually buy your product or service but are not actively looking
30% are neutral, indifferent, do not think about
30% are satisfied with their current solution but not completely impervious to the idea of changing
30% are simply not interested in your Offers
Given these figures, you should begin to understand why a sales and marketing strategy in the medium and long term is vital.
10% of the top of the pyramid, the most mature buyers are coming power your immediate income. You can apply by conventional marketing operations, provided they offer value, both targeted and conducted in the proper context.
The remaining 90% need to be monitored over the long term. And that's where your lead nurturing campaigns. You will have to install a relationship of confidence in their regular delivering an educational and useful content. This is how they naturally will come back to you the day they will switch in 10% of the top of the pyramid. Yes, we are talking about Inbound Marketing: Let your target come to you rather than to pick her up.
KEEP IN TOUCH WITH THE REMAINING 97%
Sales cycle. Buying cycle. Stages of the buying decision. In short, every member of your target market is more or less close to the actual purchase. This is a very comprehensive approach to your entire market.
Sales Cycle
Beyond the 3% of committed prospects, the rest of your market positions of 4 phases of the buying cycle:
7% are open to the idea of eventually buy your product or service but are not actively looking
30% are neutral, indifferent, do not think about
30% are satisfied with their current solution but not completely impervious to the idea of changing
30% are simply not interested in your Offers
Given these figures, you should begin to understand why a sales and marketing strategy in the medium and long term is vital.
10% of the top of the pyramid, the most mature buyers are coming power your immediate income. You can apply by conventional marketing operations, provided they offer value, both targeted and conducted in the proper context.
The remaining 90% need to be monitored over the long term. And that's where your lead nurturing campaigns. You will have to install a relationship of confidence in their regular delivering an educational and useful content. This is how they naturally will come back to you the day they will switch in 10% of the top of the pyramid. Yes, we are talking about Inbound Marketing: Let your target come to you rather than to pick her up.