Magnetizing Your Marketing Is The Solution
First thing to understand is your potential market. We start out by overlaying a spectrum template over your entire potential market. We call this template "The Buyer's Spectrum". Understand that on one end of The Buyer's Specturm, there's 3 - 5% of the market that will never buy from you. They may have a vendor that they grew up doing business with, it could be a relative or friend, etc. On the other end of the spectrum, there are 3 - 5% that are "NOW" buyers. Meaning that they are ready to buy right now, so if they see your ad they'll order now.
Traditionally, many companies focus their advertising on this small portion of the market. What this means is that there is a full 90% of the market that WILL BUY YOUR SOLUTION at some time in the future. It could be 3 weeks from now, 3 months from now, 1 year from now, 3 years from now, etc..
Now you can't predict when the other 90% of the market will be ready to buy. In business, realize that there's a process that every prospective customer goes through before they're ready to buy from you. We call this "The 6 Stages Of The Customer Buying Cycle".
The 6 Stages Of The Customer Buying Cycle
(Interest, Options, Research, Decision, Exclude & Purchase) Stage 1) Interest: Prospective client has an interest (need or want) Learn how to Optimize Your Marketing.
Stage 2) Options: Prospective client starts to consider various solution options & gathering information on an informal basis. They also ask friends & associates for referrals
Stage 3) Research: Prospective client does heavy duty research
Stage 4) Decision: Prospective client makes the decision to buy your solution yet not necessarily who to buy it from
Stage 5) Exclude: Prospective client shops and compares different vendors. Waits for timing to be just right.
Stage 6) Purchase: Prospective client chooses a vendor and buys! Money changes hands.
So your challenge is to educate and nurture each prospect along "The 6 stages of The Customer Buying Cycle" until they're ready to buy. But that's hard to do if you've got more than 10 prospects. Lots of business books and trainers talk about what's known as "relationship marketing" or the process of building a personal relationship with a prospect so they'll think you're their friend. After all, given a choice, we'd all like to buy things from our friends. Yet with 250 prospects, that's not an easy thing to do.
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