Remembering the 'Prospects' Who Aren't (Yet) Ready to Buy
5 Steps to Converting "Almost" Customers into Buyers
Want to know a really good way to waste money on Marketing ? That's easy. Just ignore your prospects that aren't ready to buy yet. This is guaranteed to cost you 80% or more of your best opportunities in respect of relationship marketing.
And yet, some marketers do it all the time.
These companies spend all of their marketing budget on 'demand generation' - getting prospects to express some interest in their product or service, generally from a cute sales letter or sign up form - and then they toss them to the sales conversion team.
The problem is that most prospects - 80% or more - are not ready to talk to a sales person when they first contact a company. Research shows us that 90% of them will buy within the next 12 months. But most of them will end up buying from a different company for the simple reason that they were unknowingly ignored or simply pressured into making a purchase.
There are all kinds of reasons prospects aren't ready to buy when they first contact you.
Maybe they've just started looking.
Maybe they don't have the budget yet.
Maybe they're not convinced they have a problem.
Maybe they're going on holiday next month and don't want to get anything started before they leave.
Who knows? Regardless of the reason, you can't send them to your sales team, you don't want them to forget about you, and they probably need a little educating.
So, what do you do? The answer is actually pretty simple. Establish a sequence of relevant and informative communications.
Arrange to communicate with them regularly. Reach out and touch them often enough so they don't forget about you, but not so often that you annoy them.
For most of our clients, the simplest way to do this is via email. If you're wondering how that can possibly be effective given the dreadful state of email overload we're all experiencing, there are a few "rules" you should follow.
Interestingly, these rules apply to any form of communication - not just to email.
1. Your message must be relevant. If you've carefully defined your target audience, you know what interests them. Stick with it.
2. The information you send to them must be useful. Most likely, your prospects have a problem they're trying to solve - or at least to learn more about. They're turning to you for help. With each communication you can provide useful information. As your prospects learn about solving their problems, they're also learning more about you.
They're seeing value in the relationship with you.
3. No blatant or overt pressure selling. Your prospects aren't stupid. They know you have something to sell. But they're not ready to listen to a sales pitch. Here's an example.
About a month ago I subscribed to a newsletter published by a very well-known and highly regarded copy writer. To date, I haven't received a newsletter; but I've gotten 3 sales pitches from him or rather from his autoresponder. One more pitch and I'm going for the unsubscribe link.
4. Be consistent. It's generally best to establish some kind of pattern and stick to it. If you're going to send a weekly tip sheet; fine. Do it weekly. If it's a monthly newsletter, that's fine too. Daily? If that's what your prospects want, no problem. Your prospects will expect to hear from you on a regular basis. The rhythm is good. If you change your pattern too often, people (in general) for some reason get annoyed.
5. Include a call to action. Just because you can't turn this into a full-on sales pitch doesn't mean you shouldn't ask the reader to do something. You can tell them to call you; email you; download something else. What is the next reasonable step in the buying process? Lay it out for them.
In some businesses, letters or postcards or even phone calls may be more effective than email. The overall concept is still the same.
You have the prospect's contact information. Use it to do good things - both for the prospect and for you. Use it to build long term relationships.
Working for our joint success
John
Director of Public Affairs
Translate Scotland
Public Relations & Marketing
www.translatescotland.co.uk
Monday 30 March 2009
Friday 20 March 2009
When You Relax Your Marketing effort .....a strange thing happens !!!!
And the strange thing is........Nothing happens.......because if you stop, so does everything else.
It is important for us as entrepreneurs to develop the habit of thinking about marketing and sales results most of the time. Think about your customers most of the time. Think about the things that you could do, every single day, to make your products and services more attractive to more customers, more often.
Time versus Value
It is said that 'we get paid for bringing value to the marketplace, but that it takes time to bring value (sometimes inordinate amounts of time) but it is important for all of us to remember that we don't get paid for the TIME but rather for the VALUE (in economics speak).....we put into the time.'
So, that said, now is the time to become a "smart" entrepreneur about your business by doing more, adding more value not less. What I mean by "doing more" is by simply increasing your sales and marketing efforts.
Instead of pulling back as many entrepreneurs are currently doing, beat off your competitors by finding new ways to stay visible.
An economic slowdown can be a problem for your business only if you allow it to be. Or, it can be an opportunity to gain new clients and boost your sales if you know and have mastered the marketing and sales methods that work best during these times.
Right now, many successful entrepreneurs are rubbing their hands together in eager anticipation of new opportunities because they know that many of their competitors are pulling back. With less competition, it makes it easy and sensible for them as 'value providers' to go after and win that business.
Today's customers are looking for measurable quality in the products and services they buy. Today's customers buy differently, so today's marketers and salespeople must sell and market differently.
Consider that, although people may be more cautious in spending money, they will always need services. The person they'll do business with will be the one who provides the best value and finds creative ways to let their existing customers and new prospects know they are there.
so it follows that .......
# If your business is a market sector leader ...... say so !
# If you offer products at higher quality and lower price ....... tell them !
# If your service is driven by customer satisfaction ....... prove it !
Here are 6 strategies to maintain and even increase your market visibilty and sales, no matter what's going on around you.
Follow Up.
I'm amazed to hear fellow entrepreneurs say they only follow up one or two times and sometimes never at all. People may not be ready today to buy from you but if they expressed interest, they'll probably be ready to buy in the next several months. They say it can take 7-10 or more touches to move the client/customer to making a buying decision. You want to come up with creative ways to stay in touch, so when they're ready to buy they'll remember you.
Reactivate dormant accounts.
Reaching out to past clients can make them customers for life. Let them know you're there for them and be generous by offering some ideas to help them in their business. One phone call can make a huge difference.
Think about it. When was the last time you called a client with some ideas for their business? When you go the extra mile and show them you're there to help them, they'll appreciate you and remember that when they're ready to do business.
Make special offers.
Offer a product or service at a special low fee for a limited time. Give catchy names to these special offers like : Celebrating the completion of Edinburgh Tram project sale, Close-out Sale, Scratch and Dent Sale, Half Price Sale, Coupon Sale, Free 30-Day Trial. You'll need to put a time limit on the offer to encourage people
to buy now and not later. Also, it helps to explain why you're having the sale, so they know you don't just drop prices whenever you feel like it.
Get creative.
Up sell to generate additional revenue. When a client purchases your product, you can offer other services at a nominal fee that will compliment the product they've just purchased. This is done in many places. For example, at many hotels they now charge you a 'facility fee' of £10.00 a day. And for that fee, they list a series of amenities you receive like: free gym use or car valet or free car hire for the day etc Although this is a small fee, with the volume of customers, this fee adds up and proves good value for both parties.
Most people......including me, just love the sound that FREE makes!
Add value to your existing service.
During times when your customers may be concerned about pricing, another way to win them over is offering the best value for their money. You can do this by enhancing your service with "extras." An extra might be faster delivery than your competitors, a larger selection, easier payment options, or a better guarantee.
Be positive.
I'm a big believer in staying positive. Now is the time to surround yourself with positive people, read books that make you feel good, listen to people who share their secrets for achieving success, take time to nurture yourself, and most of all believe in yourself and stay in action!
If you operate in competive markets then adopt this motto -
Live ....sleep ....eat....dream and breath client/customer. You can bet most of your competition won't even try!
John
It is important for us as entrepreneurs to develop the habit of thinking about marketing and sales results most of the time. Think about your customers most of the time. Think about the things that you could do, every single day, to make your products and services more attractive to more customers, more often.
Time versus Value
It is said that 'we get paid for bringing value to the marketplace, but that it takes time to bring value (sometimes inordinate amounts of time) but it is important for all of us to remember that we don't get paid for the TIME but rather for the VALUE (in economics speak).....we put into the time.'
So, that said, now is the time to become a "smart" entrepreneur about your business by doing more, adding more value not less. What I mean by "doing more" is by simply increasing your sales and marketing efforts.
Instead of pulling back as many entrepreneurs are currently doing, beat off your competitors by finding new ways to stay visible.
An economic slowdown can be a problem for your business only if you allow it to be. Or, it can be an opportunity to gain new clients and boost your sales if you know and have mastered the marketing and sales methods that work best during these times.
Right now, many successful entrepreneurs are rubbing their hands together in eager anticipation of new opportunities because they know that many of their competitors are pulling back. With less competition, it makes it easy and sensible for them as 'value providers' to go after and win that business.
Today's customers are looking for measurable quality in the products and services they buy. Today's customers buy differently, so today's marketers and salespeople must sell and market differently.
Consider that, although people may be more cautious in spending money, they will always need services. The person they'll do business with will be the one who provides the best value and finds creative ways to let their existing customers and new prospects know they are there.
so it follows that .......
# If your business is a market sector leader ...... say so !
# If you offer products at higher quality and lower price ....... tell them !
# If your service is driven by customer satisfaction ....... prove it !
Here are 6 strategies to maintain and even increase your market visibilty and sales, no matter what's going on around you.
Follow Up.
I'm amazed to hear fellow entrepreneurs say they only follow up one or two times and sometimes never at all. People may not be ready today to buy from you but if they expressed interest, they'll probably be ready to buy in the next several months. They say it can take 7-10 or more touches to move the client/customer to making a buying decision. You want to come up with creative ways to stay in touch, so when they're ready to buy they'll remember you.
Reactivate dormant accounts.
Reaching out to past clients can make them customers for life. Let them know you're there for them and be generous by offering some ideas to help them in their business. One phone call can make a huge difference.
Think about it. When was the last time you called a client with some ideas for their business? When you go the extra mile and show them you're there to help them, they'll appreciate you and remember that when they're ready to do business.
Make special offers.
Offer a product or service at a special low fee for a limited time. Give catchy names to these special offers like : Celebrating the completion of Edinburgh Tram project sale, Close-out Sale, Scratch and Dent Sale, Half Price Sale, Coupon Sale, Free 30-Day Trial. You'll need to put a time limit on the offer to encourage people
to buy now and not later. Also, it helps to explain why you're having the sale, so they know you don't just drop prices whenever you feel like it.
Get creative.
Up sell to generate additional revenue. When a client purchases your product, you can offer other services at a nominal fee that will compliment the product they've just purchased. This is done in many places. For example, at many hotels they now charge you a 'facility fee' of £10.00 a day. And for that fee, they list a series of amenities you receive like: free gym use or car valet or free car hire for the day etc Although this is a small fee, with the volume of customers, this fee adds up and proves good value for both parties.
Most people......including me, just love the sound that FREE makes!
Add value to your existing service.
During times when your customers may be concerned about pricing, another way to win them over is offering the best value for their money. You can do this by enhancing your service with "extras." An extra might be faster delivery than your competitors, a larger selection, easier payment options, or a better guarantee.
Be positive.
I'm a big believer in staying positive. Now is the time to surround yourself with positive people, read books that make you feel good, listen to people who share their secrets for achieving success, take time to nurture yourself, and most of all believe in yourself and stay in action!
If you operate in competive markets then adopt this motto -
Live ....sleep ....eat....dream and breath client/customer. You can bet most of your competition won't even try!
John
Monday 16 March 2009
A Marketing Tool That's Obvious, Overlooked and Cheap
Use the implementation of superior service as a thrifty and effective in-house marketing mechanism.
Marketing and cats appear to have one thing in common: There's more than one way to skin them both.
Marketing isn't just about creating a brand and advertising campaigns; it's about delivering value. So while many entrepreneurs are scrambling to attract new business, some have discovered one of the easiest (and least expensive) tools to keep their sales engines humming, holding on to current patrons through superb
'value added' customer service.
When you weight the cost of attracting new clients vs. the cost of keeping the ones you have, superior customer service will beat most any advertising campaign on (return on investment) ROI.
I have a number of colleagues who built their business on delivering exceptional customer service by using a business model that delivers the best service on all fronts.
'Real service is such a rare commodity out there - it can be a literal desert of mediocrity'.
Companies that offer a quality product and superior service will have very little competition. There's a whole population of potential consumers that want to spend money on service excellence. A service focused business, because of reputation, naturally, attracts a higher caliber of clients and customers who want to work with a company that is 100% focused on the delivery of excellence.
Step up to the front of the queue....... stand out from the crowd.........look at your competition and simply do it better, faster and more cost efficiently........ business development is a process that takes skill and a specific approach to make prospects feel comfortable. Package your services accordingly.
To keep your own successful service-based sales engine running smoothly, implement the following tips:
Rate your performance. Lots of companies claim to give superior service, but if you take an informal poll, most people from every demographic sector will tell you what they think is lacking or could be done better.
The first step toward fixing things is an honest evaluation of your performance across all interaction platforms in that you just......simply have to ask!
'If it isn't broke.....break it!'
Review and repair your processes. After you have a handle on what's wrong, put together appropriate solutions. Efficient processes, the right technology, proper business support and regular communication with your clients, customers, employees, contractors and vendors can help fix previous shortcomings.
Anticipate client need. It's not about you; it's all about your clients' and prospects' expectations. It's about relationship rather than transaction based marketing effort.
The winners in this economic downturn will test their service provision model and use the best 'vehicles' (technology, software, social networking platforms etc) to their benefit. They will intrinsically get that people do business with people and companies they like, companies that understand their unique needs.
Entrepreneurs (SME's) who take the time to thoroughly understand their clients and create environments in tune with clients' unique needs and expectations will flourish. Hard work + right choice + listening + open dialogue = success.
The answers (word of mouth marketing) you get will prove to be a great insight on customer-focused trends, and will be enough to (positively) change your approach to your business and how you deliver that service to the end user.
The person who asks the questions.....controls the conversation isn't that right?! so instigatation of direct communication between the person who purchases/uses the thing and the person who makes/supplies the thing will speed up your response and customer retention rates.
A mind-set that embraces commitment before success will give your clients and customers confidence that you have their best interests at heart.
Start profiting from a service-sensitive mentality. By adding superior client service to your marketing toolkit, you'll be positioned to beat the competition and boost your sales.
John
Marketing and cats appear to have one thing in common: There's more than one way to skin them both.
Marketing isn't just about creating a brand and advertising campaigns; it's about delivering value. So while many entrepreneurs are scrambling to attract new business, some have discovered one of the easiest (and least expensive) tools to keep their sales engines humming, holding on to current patrons through superb
'value added' customer service.
When you weight the cost of attracting new clients vs. the cost of keeping the ones you have, superior customer service will beat most any advertising campaign on (return on investment) ROI.
I have a number of colleagues who built their business on delivering exceptional customer service by using a business model that delivers the best service on all fronts.
'Real service is such a rare commodity out there - it can be a literal desert of mediocrity'.
Companies that offer a quality product and superior service will have very little competition. There's a whole population of potential consumers that want to spend money on service excellence. A service focused business, because of reputation, naturally, attracts a higher caliber of clients and customers who want to work with a company that is 100% focused on the delivery of excellence.
Step up to the front of the queue....... stand out from the crowd.........look at your competition and simply do it better, faster and more cost efficiently........ business development is a process that takes skill and a specific approach to make prospects feel comfortable. Package your services accordingly.
To keep your own successful service-based sales engine running smoothly, implement the following tips:
Rate your performance. Lots of companies claim to give superior service, but if you take an informal poll, most people from every demographic sector will tell you what they think is lacking or could be done better.
The first step toward fixing things is an honest evaluation of your performance across all interaction platforms in that you just......simply have to ask!
'If it isn't broke.....break it!'
Review and repair your processes. After you have a handle on what's wrong, put together appropriate solutions. Efficient processes, the right technology, proper business support and regular communication with your clients, customers, employees, contractors and vendors can help fix previous shortcomings.
Anticipate client need. It's not about you; it's all about your clients' and prospects' expectations. It's about relationship rather than transaction based marketing effort.
The winners in this economic downturn will test their service provision model and use the best 'vehicles' (technology, software, social networking platforms etc) to their benefit. They will intrinsically get that people do business with people and companies they like, companies that understand their unique needs.
Entrepreneurs (SME's) who take the time to thoroughly understand their clients and create environments in tune with clients' unique needs and expectations will flourish. Hard work + right choice + listening + open dialogue = success.
The answers (word of mouth marketing) you get will prove to be a great insight on customer-focused trends, and will be enough to (positively) change your approach to your business and how you deliver that service to the end user.
The person who asks the questions.....controls the conversation isn't that right?! so instigatation of direct communication between the person who purchases/uses the thing and the person who makes/supplies the thing will speed up your response and customer retention rates.
A mind-set that embraces commitment before success will give your clients and customers confidence that you have their best interests at heart.
Start profiting from a service-sensitive mentality. By adding superior client service to your marketing toolkit, you'll be positioned to beat the competition and boost your sales.
John
Sunday 15 March 2009
The Platform for Change
In order to address the current market demand for fast, effective communications the Translate Scotland Resource Centre for Entrepreneurs 'model' has been designed to help you deliver a fresh and focussed response approach to Public Relations, Marketing, Sales & Personal Development.
How?..... do we do it - by simply identifying and communicating your unique business sector benefit and defining your brand value, which will consistently position you to attract more customers and improve profitability.
Whatever direction you have in mind for the future of your business, we have the experience and creativity to deliver a tailored programme designed to exceed your expectations, increase your market visibilty, enhance your reputation and give your company a competitive edge to help you deliver your vision to a somewhat crowded marketplace.
Regardless of market sector, demographics, geographics, phsycographics or whatever other type of 'graphics' you want to add, without the power of the media your product or service will never reach its full commercial potential unless you apply the innovative value added principles behind Public Relations and Marketing.
A joint venture with Translate Scotland and our new Resource Centre for Entrepreneurs will make that happen ....we guarantee it !
PEOPLE
We have access to a team of highly qualified experts with extensive consulting experience in all aspects of Business and Personal Development. We believe in doing the right thing before doing the thing right by following our proven business 'model'
Discovery: What business are you in......and are you sure?
It is our utmost priority to understand your business. We ensure that we are in synch with our clients’ precise vision. In this process, we identify strategic and research questions to be addressed later in the project. We use various mediums to collect information via both on-site visits with key members of the organization and through series of virtual communication.
Market Research: Who are your customers?
Market research is an integral part of our business process.
Market research validates and provides direction to exploit new opportunities.
Market research can uncover threats and opportunities in your marketplace.
· The size of the market
· Current Market Trends
· A competitive Analysis
Business Strategy: What do your customers consider value? .....Do you know?
We will help you define your business strategy and current 'positioning statement' (often referred to as your Unique Selling Proposition (USP).
We will provide you with a range of opportunities to define your core products and build you a unique marketing and public relations strategy to maintain sustainable competitive advantage. During this process, we will review your current business strategies including marketing, partnerships, human resources, and operational tactics to ensure they are effective.
The Business Plan
Based on the findings of the business strategy, we will work closely with you to determine the best way to position them in the business plan. Some of the topics involved in the plan will include:
Executive Summary: is an important portion of the business plan that will include: Mission, Vision, Management, Products and Services, Funding potential, Investor Benefits, Financial Summary, and Exit Plan.
Business Plan: will include Executive Summary, Company Description, Products and Services, Industry Analysis and Trends, Marketing Plan, Public Relations Plan, Technology Plan, Operation and Sales Plan, Sector Development, a comprehensive Financial Plan, supported by relevant and supplementary appendices.
If you are interested in finding out more about any of our services, please visit us at www.translatescotland.co.uk fill out the Contact Us form and we will get back to you in a 'heartbeat'
What have you got to lose?
John
How?..... do we do it - by simply identifying and communicating your unique business sector benefit and defining your brand value, which will consistently position you to attract more customers and improve profitability.
Whatever direction you have in mind for the future of your business, we have the experience and creativity to deliver a tailored programme designed to exceed your expectations, increase your market visibilty, enhance your reputation and give your company a competitive edge to help you deliver your vision to a somewhat crowded marketplace.
Regardless of market sector, demographics, geographics, phsycographics or whatever other type of 'graphics' you want to add, without the power of the media your product or service will never reach its full commercial potential unless you apply the innovative value added principles behind Public Relations and Marketing.
A joint venture with Translate Scotland and our new Resource Centre for Entrepreneurs will make that happen ....we guarantee it !
PEOPLE
We have access to a team of highly qualified experts with extensive consulting experience in all aspects of Business and Personal Development. We believe in doing the right thing before doing the thing right by following our proven business 'model'
Discovery: What business are you in......and are you sure?
It is our utmost priority to understand your business. We ensure that we are in synch with our clients’ precise vision. In this process, we identify strategic and research questions to be addressed later in the project. We use various mediums to collect information via both on-site visits with key members of the organization and through series of virtual communication.
Market Research: Who are your customers?
Market research is an integral part of our business process.
Market research validates and provides direction to exploit new opportunities.
Market research can uncover threats and opportunities in your marketplace.
· The size of the market
· Current Market Trends
· A competitive Analysis
Business Strategy: What do your customers consider value? .....Do you know?
We will help you define your business strategy and current 'positioning statement' (often referred to as your Unique Selling Proposition (USP).
We will provide you with a range of opportunities to define your core products and build you a unique marketing and public relations strategy to maintain sustainable competitive advantage. During this process, we will review your current business strategies including marketing, partnerships, human resources, and operational tactics to ensure they are effective.
The Business Plan
Based on the findings of the business strategy, we will work closely with you to determine the best way to position them in the business plan. Some of the topics involved in the plan will include:
Executive Summary: is an important portion of the business plan that will include: Mission, Vision, Management, Products and Services, Funding potential, Investor Benefits, Financial Summary, and Exit Plan.
Business Plan: will include Executive Summary, Company Description, Products and Services, Industry Analysis and Trends, Marketing Plan, Public Relations Plan, Technology Plan, Operation and Sales Plan, Sector Development, a comprehensive Financial Plan, supported by relevant and supplementary appendices.
If you are interested in finding out more about any of our services, please visit us at www.translatescotland.co.uk fill out the Contact Us form and we will get back to you in a 'heartbeat'
What have you got to lose?
John
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