Did you know that only 3% of people are interested in buying from you right now?
When you think of all the people out there in the market, that is a pretty small percentage. So, what does that mean for your business?
Quite simply it means that you need to change your marketing strategy to a long term plan. Instead of going after those 3% of buyers that everyone else is targeting, go for the other 37% who are interested, but might need a little bit of convincing.
How can you convince them?
By developing a consistent communication plan to stay in touch with them and remind them that your business is the solution to their problems. Let’s look at how you can do that.
The Top 3%
The Buyers Pyramid divides people into five categories based on their buying habits. The top 3% are in buying mode and are ready to hand over their cash for the best offer.
Many businesses target this top 3%. This is a mistake because everyone else is targeting them too. Even though these people are in buying mode, they are price sensitive and tend to shop around for the best deal. It takes a LOT of effort to convert them which can end up costing you a lot of time. These are the ones that will also ask for a discount to help sweeten the deal.
They are not your ideal customer.
Instead of focusing on this very select group, there is a far bigger and more receptive audience that is interested in your products and services.
Focus On The 37%
Looking at the Buyer’s Pyramid again, there are two categories that you should be focusing your energies on. The 7% who are open to buying from you, and the 30% who are interested but aren’t thinking about buying right now.
So, how do you crack this market?
Obviously they are not yet in buying mode and there is a bit of work to do to convert them. There are a number of reasons why people are not yet ready to buy:
- They haven’t built trust in your business yet
- They don’t necessarily need your services right now
- They need to know more about what you do and how you can help them
- They haven’t yet realised they have a problem that needs solving
But this 37% will be interested in your business and what you have to say. Your goal is to attract them to you and nurture the relationship by offering value.
You can attract them by creating an irresistible lead magnet. This is a free resource that helps to solve a very specific problem that your audience is facing. In exchange for your free resource, they give you their email address in return. This email address is pure gold for your business.
Once you have them on your email list, you can stay in touch with them. Pop into their inbox once a month with a newsletter that is packed with value. These newsletters will do a few things – keep you top of mind with your subscribers, build a relationship of trust, and prove you are an expert in your field.
If you want to know more about how you can implement this strategy in your business, grab my free resource here that shows you the exact steps to take.
Set The Other 60% Free
The last levels of the Buyer’s Pyramid are those that aren’t interested in your products and services. That encompasses 60% of all the buyers out there.
It makes sense really, not everyone needs what you are selling. The best thing to do is to accept that and focus on the ones that are interested. It is a waste of your time and energy trying to market to people that are never going to buy from you.
Instead, be clear on who your target market is and devote your energies to them.
Let’s Recap
Just to reiterate, you want to ignore the top 3% of buyers and the bottom 60% as they are not your ideal client. You want to focus on the middle 37% who you can convert into raving fans that will use your business again and again.
To find out how to target that 37%, download my freebie resource here.