Converting a sale . . . . cold, warm or hot?

ChristineDaveyMarketing Converting a Sale

It has been said that to close an average sale you would have to contact a single prospect 8 times.

A typical prospect will normally move through the sales cycle from being cold then to being warm and finally, just when they’re ready to close the deal they’re hot and move into being a client or customer.

Moving through the sales cycle, the prospects in your database will start off in the cold zone – potential customers you’ve identified as a well-qualified contact, but have little or no awareness of your brand or what you do.  You would normally reach these with an initial campaign to introduce your brand and USP – possibly by a telesales campaign or direct mailing push.

Prospects become warm once they’ve been spoken to (or met) and they are familiar with your company and what you have to offer but they are not yet ready to buy. They might require more time or information to process their needs but by consistently maintaining these contacts with ongoing communication, consisting of a series of marketing activities that might include follow-up phone calls, email marketing and social media contact, you’ll have a better chance of successfully moving through to the final stage of the sales cycle.

Your hottest prospects are those who have either come to you as a referral or have been moved through the first two stages of your sales cycle at which point they will become paying customers.

It will take multiple contacts using sales and marketing tactics to move each prospect on to the next stage of your sales cycle. In order to build and maintain a successful business, developing a sales & marketing programme that combines these tactics in all three zones, is imperative to reach and motivate each group in your database.

Have you developed your sales & marketing plan this year?

If you’d like some help on planning your marketing communications, Tweet me or call me on 01273 772033 today.

Christine Davey
@DaveyMarketing

5 Pitfalls to Avoid when Starting a New Business

5 Pitfalls to avoid when strting a new businessAs a marketing consultant, I meet many people who are ready to branch out on a new business venture; who want to make a name for themselves by going it alone; bringing a new idea to light and releasing it into the world as a successful venture.

It’s a big step, but with a bit of planning and strategic thinking there’s no reason why your great idea can’t translate into a good business and transform your working life.

5 PITFALLS TO AVOID
1. Going it completely alone
Having a ‘gut feeling’ about the validity of your idea is destined to fail.
Make sure other people also agree that it’s a good idea.
Talk to start-up experts; other people in your industry who have already had great success.
Take some time to test the idea – find out who your target market is then ask them if they like your product; find out how it might be improved.
Make a prototype and use the responses to adapt and adjust your idea. But, bear in mind that the feedback might not be what you anticipate. Whilst you think it’s a brilliant idea, the reality might be quite different and may need a lot of work to make it marketable.
Resist the temptation to give up; learn how to adjust and recalculate the best way to offer your idea to you ideal market.

2. Not having a Marketing Plan
Don’t assume your idea will sell itself.
No matter how brilliant you think your idea is you must pay careful attention to marketing.
Every time you talk about your business you are involved in marketing.
Make sure you have a concrete business plan and make sure you formulate a strategy to make sure you communicate the right messages to the right people at the right time.

3. Not listening to your customers
Keeping your customers happy is the single most important step to keeping your business successful.
Take time to find out what they need from you, and then provide it.
By meeting and exceeding their expectations, the word will soon get out and they’ll keep coming back for more.

4. Lacking Focus
Being creative is great, but chasing one idea after another and never actually bringing one thing to life is the biggest pitfall of all.
Know exactly what your goals and objectives are. Having these clearly defined helps you to evaluate what’s going to work and what’s not – the ideas that don’t work need to be shelved or discarded.

5. Failing to outsource specialist tasks
As an entrepreneur, there is a great temptation to do everything yourself, especially in the start-up period when costs are sometimes prohibitive.
If your idea takes off, you aren’t going to be able to handle everything on your own.
You have a limited set of talents, so by bringing in a team of experts who you can trust, will help to bring your vision to reality.

For every new business that succeeds, there are dozens of others that don’t.
Make sure you are poised for success by avoiding these business pitfalls.

Christine Davey
@DaveyMarketing

If you’d like some help with your strategic marketing planning Tweet me or call me on 01273 772033 for an initial chat over a coffee!

7 Steps to delivering an effective Lead Nurturing Campaign

Davey Marketing: Lead NurturingTo stay engaged with future buyers, Lead Nurturing is a powerful way to deliver engaging and interesting content to your prospects – specifically those who have given you permission to stay in contact with them.

What you’re essentially doing is educating targeted sales leads, which are not yet ready to buy.  Valuable content that keeps your audience engaged can help you build a strong brand presence and engender trust long before they make a purchase.

7 Steps to delivering an effective Lead Nurturing Campaign

  1. Identify who could be interested in your product/services and obtain their details. (This could be easily done through consistent networking within your business community)
  2. Follow-Up these contacts with an acknowledgement and the reference point of contact.
  3. Offer them information they can instantly use, even if they don’t choose to do business with you; ‘how to’ guides which relate to your business and might help them.
  4. Offer them a special place to interact with you; website, twitter page, LinkedIn, email etc.
  5. Get permission to stay in touch through an opt-in link to email newsletter/ downloads etc.
  6. Stay actively in touch and offer added value such as an e-Book or white paper or a special offer/package deal.
  7. Above all track the content and results of all interactions and use this to spot the times your prospects indicate their willingness to buy and ask for their business.

Remember!  It’s not all about hard selling anymore; it’s about building relationships and trust with your prospects in a way that is both consistent and relevant.

Christine Davey
@DaveyMarketing

If you’d like some help on managing your marketing activities Tweet me or call me on 01273 772033 to set up an initial chat over a coffee!