Sometimes we get so wrapped up in why a person does not buy from us that we forget before you can sell people need to know who you are and what value you bring to them.
Does your market know who you are?
You can’t think small, act small and limp along hoping to make money in your business…the numbers just don’t work (more on that a little later.)
SALES PROBLEM – OR LEAD PROBLEM?
When we work with many early-stage entrepreneurs inside InfoMarketer’sZone, one of the most common reasons given as to why they are not more aggressive when it comes to marketing to their audience or list is that they are afraid of pushing them away.
Yet, if you truly believe in the value your product will bring to the lives of your target market then why would you think that they wouldn’t want to hear from you?
When we dig in further, I often see that many start-up entrepreneurs sales problem is often not just an issue with how they are marketing to their leads it is, in fact, a LEAD PROBLEM!
When you have a list of 500 people built over months of work then it is scary sending daily promotions out to that list because what you will find is that 450-480 of them likely have no interest in many of these offers and may, in-fact, stop following you or even contact you with the odd nasty message.
However, the 20-50 people that DO care will buy, the challenge is that there are not enough of them.
Your real problem is that 500 leads over months is TINY.
The average person we work with inside InfoMarketer’sZone is generating about 2000 leads each year meaning about 500 leads each quarter. Many are doing less than this….
The fact that you get a 10% response rate out of your leads is NOT that bad, the PROBLEM is that you have too few leads which causes you to expect more and become too attached to the people that leave you rather than to the people who see the value and spend their money with you.
In other words, many of you reading this right now are SCARED to market effectively to the 5%-10% of your leads because 5%-10% of SMALL is TINY!
CONSIDER THIS…HOW HEAVY HITTERS DO IT!
Now, imagine that you had 500 leads each WEEK coming in and that you were getting even 10% response rate buying from your offers…that means 50 new customers each week and 200 new customers by the end of month-1 that are highly likely to be repeat buyers from you in the future (as long as you are selling quality, valuable products or services) which means you could have more than 2400 new customers by the end of the year, with half of those making multiple buys from you.
Say you started with a $47 initial product (ebook, intro course, initial 1-hour consulting, intro video course, etc…) and then offer a $97 back-end product (2X monthly coaching call, inner-circle membership site, ebook-bundle, ebook + video series bundle, etc…) and that 50% of your original 700 customers purchased the $97 back-end offer.
In all likelihood another 30-40% will also buy affiliate recommended products or services through you as well, but we won’t even count those for now.
The math shows you bringing in $229,200 with the two products mentioned above.
YA SURE…BUT HOW DID YOU GET ALL THOSE LEADS?
Advertising!
When I say advertising, I am referring to everything from the traditional paid Facebook Ads, Google Adwords Pay-Per-Click ads, Solo Ads placed with list owners and bloggers as well as your own content generation, SEO efforts…anything that gets your name out to your market.
This means massive action in terms of generating targeted, qualified leads – and means you come out of obscurity into being KNOWN in your niche market.
Let’s assume the following breakdown on the 500 leads you generate weekly…
400 of those come from Paid Ads where you pay $2/lead (a very achievable number) = $800/week or $41,600/year
100 of these weekly leads come from SEO, social, content generation and other methods you use to get your name out and get attention to your business – for your time or content generated you pay another $1K/month totalling another $12,000/year leading to the following:
Annual Sales: $229,200
Ad/Content Costs: $53,600
Profit: $175,600
You may argue that your response rates may be lower, even at 5% (half of the original estimate) your business is wildly profitable.
You can imagine with this strategy that you have such a pipeline of leads that pissing off 95% of those leads in favour of converting the 5% who care about what you have to offer is not that traumatic is it?
In fact, you would take that business model ALL DAY, EVERY DAY!
Not only are you highly profitable, but you are building the most valuable list of all…CUSTOMERS!
Remember, with this strategy, you have 2000+ paying customers by the end of your first year who (as long as you treat them right) will buy from you again with ZERO marketing dollars…that’s more sales at NO cost!
If you vow to tune one thing when it comes to your business in 2016, make it all about thinking bigger, acting bigger and acquiring customers bigger…you see for yourself that obscurity is deadly and advertising is the way to really blow your business up BIG this year.
