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The Greatest Crime In Small Business Marketing

What’s the greatest crime committed by your business?

Personally I believe the number of leads that marketing generates which are never converted into customers is criminal.

How The Crime Occurs

In most businesses, marketing are tasked with generating leads. These leads are then typically passed over to sales who then go to work trying to turn them into customers.

A certain percentage of these will quite quickly become customers – let’s say 5%

Another percentage will even more quickly disqualify themselves and drop out of your sales process. This could well be 50% of all the leads.

However there is still maybe 45% of the leads who haven’t said “yes” but they also haven’t said “no”.

Typically the sales person will contact them or try to contact them 3 or 4 times. After being given non committal responses – “let me think about it” or “I’ll get back to you” the sales person starts to feel that they are being fobbed off and decides to” stop flogging a dead horse” and moves onto the next set of easier converts.

Hold on a moment.

That’s 45% of your leads who are being given up on or to put it another way nine times the number of leads you converted

Buyers Can Take Up To 10 Individual “Touches”

The fact is that many prospects may take up to 10 separate communications or “touches” and sometimes even more, before they are ready to buy.

It may be that the time just wasn’t right initially or that or they were evaluating a different proposal or they simply had other priorities

They want to decide in their own time.

Your Job Is To Maintain The Contact

The last thing your prospect wants is to receive continuous sales calls.

Your job is to maintain the contact, continue to provide valuable information and be ready to respond when your prospect is ready to buy.

What you need is a Prospect Conversion System.

You need to set up a communication system which keeps you in the prospects’ consciousness.

While email is the simplest and cheapest way to do this if you intersperse your emails with letters, postcards or phone calls you will add interest and value to the process.

How Often Should You Communicate With These Prospects?

Many people worry about hassling their prospects – concerned that they will become irritated if they contact them too often. The correct regularity will depend on the quality of what you’re sending them. The fact is that if you are sending valueless rubbish once a year is too often but if you’re sending valuable and engaging material then you can send it almost as often as you like. Weekly certainly wouldn’t be too often

How Long Should You Continue To Communicate?

The classic answer to this is that you should continue to communicate until they either buy from you or they die. Your recipients are perfectly capable of unsubscribing from your list if they no longer want to receive stuff from you.  I’ve known customers who have taken 15 months from the initial contact before they have finally become ready to buy.

So remember a large percentage of prospects will take a long time to decide to buy so just make sure that you’re still in the frame when they finally are ready.

If this blog article strikes a chord with you, leave me a comment and share your experience.