An interesting marketing statistic every business owner should keep in mind is 5% of your leads are ready to buy Right Now. 45% will be ready to buy within 6 months.
The problem most entrepreneurs have is they focus all their energy on selling the 5% and looking for the 5%. Also called cherry picking your leads. If you received 40 leads this month and sold 2 (that’s 5%) what happens to the other 38 leads?
If you’re like most salesmen or business owners, you follow up with your most likely to convert leads you have worked with this month and carry those precious few over into the next month and close them. Yeah! But if you close 4 of those 40 leads the following month, what happens to the remaining 34 leads last month that had expressed an interest in your solution to their problem?
If you’re honest with yourself, the answer is nothing. They die on the vine because you and your sales team are spending all your energy on the new 40 leads coming in this month, snagging the easy sales. What would your business look like if you had an additional 136 leads to work within a month?
Based on the numbers above, you already do. If you are leaving 34 unsold leads on the table each month you have 136 leads at the end of the 4th month. These are leads that contacted you because they were interested in what you had! There are many reasons people don’t buy on the first or second contact, but most salesmen never follow up more that two times.
If you don’t have a systemized process in place to stay in front of these 136 people, when they are ready to buy, they will most likely buy from your competitor. The reason is simple. You didn’t follow up and they think they already know what you have to offer and the price, so they use that information to shop with. You basically warmed them up for them to be the 5% “lay down” sales for your competition!
In today’s digital age, it isn’t just important to stay in contact with your lists, your business depends on it. But why do most business owners drop the ball here? Simple, it takes effort. I’m not just talking about the 20 minutes of time to set up and send an email to your list, but the huge creative effort it takes to put together valuable content every single week. Your busy running and growing your business so other tasks such as consistent and quality follow up is usually one of the first things to fall off.
Perhaps you have an admin person that you delegate this task to. Is this person the right person for the task? Do they know how to craft a headline that gets the email opened or create good content that will motivate the recipient to read the email and then read the one next week and the week after? Do they understand how to build in a call to action that can convert your list back into being a buyer?
The answer is no, an admin person does not know how to do these for it is a specialized skill set. If they had this skill set, they wouldn’t be doing administrative work, they’d be in the marketing industry. Perhaps they make a Facebook post daily to “keep in front of your followers,” the problem with that is only 2% of your followers see a post. It’s an algorithm that is designed to force businesses to pay FB to reach their own followers.
What’s the answer? Work with a digital marketing partner that does specialize in these areas. Their cost is more than paid for by the increase in revenue they will help you generate month after month by developing your list of old leads into warm buyers. Building a business is a process and so is nurturing and developing the 45% of your leads that will want to buy, just not today.
Almost no problem a business has can’t be solved with more leads and more qualified ready to move forward leads. Quit settling for your reality and focus on your business’ potential! You’ve already spent the time and money obtaining leads, doesn’t it make sense to capture more revenue from this investment?
If you’d like help converting your 45%, contact us today and we can discuss your market to see if we’re a good fit.
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Market SCYTHE helps local businesses grow their sales through targeted and effective marketing strategies and campaigns. If you’d like a free no pressure consultation, you can contact us at firstname.lastname@example.org