| |
| |
|
Marketing Resource Center |
|
|
|
Why Instant Gratification Marketing Condemns Businesses To Losing 90% Of Their Potential Customers
Most businesses target only people "ready-to-buy". These hot prospects are "Now Buyers" because they've been inching closer to a decision for some period of time. They're just about ready to spend cash. Advertisers target "Now Buyers" because the pressure is on to make sales immediately. And, they know these prospects are most qualified, from a timing standpoint. The selling situation gets more complicated when similar products or services are offered by competitors. Typically, buyers cannot differentiate one provider from another. So, thefinal decision eventually defaults to (lowest) price. Two problems are operating concurrently: 1. The advertiser has failed to convince the buyer exactly why they should buy from them specifically. 2. The advertiser has failed to understand human nature and the mental process a prospect goes through before making the purchase. Consequently, the marketing approach is too narrowly focused. This results in missed sales opportunities. Fortunately, both problems are easily solved by a single strategic approach. Any buying decision follows a series of educational events experienced by the buyer. Depending upon the actual product or service, time-frames can perhaps be as short as a day or two for minor purchases to as long as a couple of years for major purchases. Actual time aside, these milestones are reached before any final purchase. I call this series of educational milestones as Points A to Z Along The Educational Spectrum. At point A, the prospect gets the first idea to buy what you sell (or to switch vendors). At point Z, the prospect becomes your customer and money changes hands. In between, your prospect goes through an educational process. As a vendor, you need to participate and facilitate that process. It's your job to educate your prospect with enough information on an ongoing basis. And, you do this by incorporating, every step of the way, the Marketing Equation, as outlined in other MYM On-Demand newsletters and programs. With each contact point you make, you attract the attention of your prospects, engage them, then provide them with relevant, important information that builds a case for your product, service, and business. The information should be complimentary, fulfilling the prospect's response to your risk-free offers. Education can be presented through letters, post cards, emails, reports, fact sheets, comparisons, newsletters, e-zines, white papers, videos, CDs/DVDs, web sites, seminars, webinars, digital video streaming, personal contact, etc. The important concept to remember is to make these "touch-point contacts" on a periodic basis without fail. This does several things. It endears the prospect to you because you're seen to be extremely adept at helping with the decision-making process. Also, you position yourself as the well-informed expert. Most importantly, you're perceived as someone who truly understands your prospect's situation. This means you're best situated to help solve the problem, fill the need, or meet the desire. Here's a question for you. Do you focus on just "Now Buyers", who account for only 1% to 5% of all prospects, or do you target "All Buyers"? Don't abandon the plum tree just because some of the fruit is still green. Nurture your prospects. After they respond to your ad, make the effort to keep in touch with them, for as long as it takes to convert them to a sale. Collect their contact information and develop an automated hopper system. Understand that every prospect you meet is somewhere between A and Z along the Educational Spectrum. It's your job, as a strategic marketer, to guide them, I like to say, "until they buy or until they die". Your available target market is bigger than you think. This process will insure that the huge pipeline of "All Buyers" flows right towards your business so you can monopolize your marketplace. Good luck with your marketing efforts. ¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤ About The Author:
MORE RESOURCES:
Marketing - Google News |
|
|
|
RELATED ARTICLES
Tackle a Newsletter and Come Out On Top Unlike any other marketing vehicle, newsletters give you the opportunity to contact your audience and convey your expertise in a way that offers value and information. Newsletters provide a reason -- and a structure -- to maintain ongoing contact. Seven Secrets For Building Customer Loyalty In Your Restaurant Imagine how much your sales and profits would increase if each of your customers come back just one more time a week or a month. You would boost your sales by 50%. Create A Business Card That Sells and is Effective Why does your business need a business card?Business card is a powerful piece of card handed out to your clients or given to you by someone which has all that information in such a small space. Business cards are an important part of any business and that gives a first impression of your business to anyone. Marketing on a Budget A successful marketing plan doesn't have to include an athletic superstar, prime-time placement, state-of-the-art computer graphics or a massive budget. Being resourceful and smart can be just as effective. Eight No Cost Ways to Market Your Business Are you trying to promote your business with a tiny marketing budget? Opportunities are plentiful for low or no cost marketing. Here are a few that won't cost you a cent. Secret of Strategy - Part 1 A step-by-step guide to creating a growth strategy based on your current situation and future possibilities. I'll bet you think you already have a strategy. Logo Facts What makes one logo better than another?Simplicity.A good logo works in the simplest form. The Seven Vital Steps You Must Know To Ensure Direct Mail Success 1. Your Most Valuable AssetA mailing list of valued customers is the single most important asset you have. One-Two-Three Punch Marketing Printed material is just as important today as it was before the Internet. With sp*a*m getting out of hand, it's a wise choice to rev up, update or create printed material, ads, catalogs, direct mail, press releases, letters, templates and the like. The Seven Deadly Sins of Ineffective Nametags Your nametag can be your best friend. It can be a lifesaver in meetings, trade shows and events to start conversations when you meet groups of new people. Direct Mail Response Rates Soar With Dimensional Mailers in Business-to-Business Lead Generation The toughest job you face as a B2B direct marketer is reaching your prospect with your message. Reaching C-level executives is particularly difficult because they employ mailroom staff and executive secretaries who screen their mail, or your mail, depending on how you look at it. How Can I Get Name Recognition? Some of the ways in which to get your "name out there" are to call your local television and radio stations, and ascertain whether there is a medium you can get your name in. A very good source are public stations that hold auctions, at which you can donate your services. Who Is Your Market and Where Are They? An important part of planning your business is to know who will use your products/services.The vast majority of small businesses will rely on their communities for sales. Marketing is More Than Advertising Marketing is a business process about which much is written, however is often not completely understood. Many think that "marketing" and "advertising" are interchange-able words. Ten Breakthrough Marketing Ideas Ten Breakthrough Marketing Ideas1. Create a directory of web sites on a specific topic. Color Part 2: Formats and Systems There are several color formats and systems available for mixing and specifying colors. Here, we explain three of the most common systems: RGB, CMYK, and Pantone colors. Viral Marketing Viral marketing involves the use of surf-exchanges, and if you don't know what a surf-exchange is, itsa site that you can join, often for free, and exchange web page views with other members.You submit the website you wish to promote, and then you usually get a 'start page' that you load into your web browser and you start to view other web pages. Three Simple Keys Will Make Your Customers Stick Do you spend a lot of time and energy courting prospective new customers, hoping to pump up your bottom line? If so, you're probably missing an untapped source of sales that exists right inside your company -- there's truth in the statement that your customer list is your most valuable asset.There's a gold mine of opportunities to make easier sales and create a loyal following of customers that will return time and again by using your existing customer base to grow your sales. Top 5 Ways to Generate Qualified Leads for Your Small Business Do you ever wonder if you could be doing a better job marketing your small business or professional service firm? Successfully marketing a small business is hard work. There are several key skills required to consistently develop new business that you, as a small business owner, must master in order to succeed. Why Trying to Get the Appointment Can be a Recipe for Dis-Appoinment Why Trying to "Get the Appointment" Can be a Recipe for Dis-AppoinmentLast week, this e-mail from Jack arrived in my inbox:To: Ari GalperFrom: JackSubj.: Help! I need to get more appointments Dear Ari,I've just coined a new disease for the medical books,and I'm hoping you can help me cure it.
|
| home | site map | Advertising Articles |
| © 2006 |
Comment by George C. Leef, Director of Research