I have a friend, who is a business growth expert and corporate trainer who worked with major companies like Merrill Lynch, GNC, NBC and Warner Brothers. Thanks to all the research he collected during a career that spanned more than twenty years, he came to the conclusion that three percent of people can be classified as “buying now.” He found that another seven percent are open to the idea of buying.
Since that only accounts for ten percent of consumers, where do the other ninety fall? My friend split them into three different groups of equal size. The three groups are: not thinking about it, don’t think they’re interested, and know they’re not interested. With the last group, you may assume that there’s no way to reach them. However, that’s not necessarily the case. When he describes this group, he said that “these folks are happy with what they have or just simply know they don’t need it. They may have a 10-year-old copier, but if it’s not broken, why fix it?”
How to Turn 10% Into 100%
If you approach a group of prospects with a standard sales pitch, your message is only going to resonate with the 3% who are “buying now” and the 7% who are open to the idea of buying. With the other 90%, whatever you pitch is going to fall on deaf ears.
In order to broaden the appeal of your pitch, you need to take an approach that’s not so direct. That’s where education-based marketing comes into play. Because this approach focuses on providing truly useful information, the people you present it to won’t feel like you’re trying to pressure them into a sale. Instead, they’ll actually be interested in learning more. Their interest is what will allow you to initially bring them into your sales funnel and then start moving them through it.
What’s the Best Way to Educate Prospects?
If you’re wondering how you should try to educate prospects, blogging and email are your two best options. Ideally, you’ll use blogging to get prospects to your site. Then once they arrive, you can get them to sign up for your email list and continue building a relationship by sending them emails packed with helpful information.
“My Business Doesn’t Have Time for This Type of Marketing!”
Although education-based marketing can be very effective, it does take time to do correctly. After their initial enthusiasm for being able to appeal to a wider pool of prospects wears off, many businesses get frustrated with the amount of effort involved in utilizing this strategy.
While it does take time to come up with great content, that doesn’t mean education-based marketing needs to be a drain on your time and resources. Instead, you simply need to take advantage of the automation and streamlining that an online CRM can provide.
Because quality CRM software makes it easy to create professional emails, execute multi-step email marketing campaigns, and analyze the results of your efforts, you’ll be able to create automated processes that bring prospects into your funnel via education-based marketing and then work to move them farther along through it.