Under-Performing ROI AND Solution:

Here’s a question a client asked recently about not getting the ROI they were looking for with a solution.

“We sell bottleless water coolers to businesses. We’ve used 7 different digital marketing agencies in the last 4 years and have never gotten a positive ROI. Any ideas?”

This affects so many businesses. As a business owner, you invest a lot of time & money into marketing and still ponder why you aren’t seeing results.

Let’s talk about a solution…

Have you heard of ‘The Buyers Pyramid’ before? It’s a marketing concept that says:

·      3% of prospects are ready to purchase at any given time…

·      30% of prospects in your market will never buy from you…

·      The remaining 67% are solid prospects who just aren’t ready…yet.

Unfortunately, most businesses (and agencies) market to the 3% of prospects with ‘buyer intent.’

Typically, this is a very costly process that forces you to compete with so many other businesses for a tiny slice of the market. And, generally, you’re competing with companies that have a very large marketing budget.

And worse, business owners are often forced to reduce their prices to remain competitive in this environment. Which of course, can have a serious impact on the health of your bottom line.  

Bottom line, what can I do?

I recommend focusing most of your marketing efforts on the 67% of prospects who aren’t chomping at the bit or ready to buy…yet. This is what I call the slow burn, long-term game BUT pays of big time!

Why? Because it’s a much bigger slice of the pie AND you’re not competing with other businesses for a measly 3% slice of the pie!

How does this slow burn, long-term approach work, practically speaking?

Here’s a proven strategy you can try applying to your business today:

1.     Review your client roster – and identify your best clients. Ask yourself these questions:

a.     What industries are they in?

b.     How many employees to they have?

c.     Where are they located? (And any other questions you can think of to clarify the defining characteristics of your best clients.)

2.     Narrow down the criteria and choose ONE ‘prospect profile’ to target. (This should give you a clear idea of the type of business owner you’re looking to attract.)

3.     Search for business owners who match your criteria online and get their email addresses. (There are different ways to do this. But if you’re not sure how, I’ll be revealing how you can do it for free on LinkedIn in upcoming posts. So, stay tuned for those.

4. Find their social media profiles and connect with them. From there, start sending them regular, personal messages on social media and via email to build the relationship. 

5.     Consistency is key! Create several touch-points to create conversation. After a while, you can introduce your product or service to them.

Something to keep in mind about this process is: prospects in the “67%” group won’t be ready to buy initially, and that’s okay! Don’t let it discourage you.

 By maintaining consistent touch-points – and nurturing the relationship regularly – you’ll stay ‘top of mind’ with them. Which means they’ll think of you when they are ready to purchase. 

If you found this post valuable, let me know.

Keep an eye out for more posts like this. I’ll be posting many more proven client-attraction tips & strategies in the days and weeks ahead!

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