This line represents what we call the Sales Cycle. Point 1 represents the point at which your prospect starts thinking about buying what you sell. Point 100 represents the point at which they actually make the purchase and buy what you sell. So what you need to realise here is that there is a process, a timeline, a sales cycle that your prospect goes through before they make a purchase. That sales sycle is represented by this line. The time it takes for someone to go from point 1 to point 100 could be one day, or it could be 1 year or more. It all depends.
Think about it like this—point 25 or so represents when your prospect starts checking out your product, or noticing ads for your product or service. Around point 50 to 60 is where the prospect might start looking at the differences between competitors and perhaps even doing some online comparison shopping. Point 80 to 90 or so represents that point at which the prospect has determined that he is going to buy. At that point, its not a matter of IF he’s going to buy, but just when and from whom.
So there’s 2 very important things to recognise about this sales cycle. First, you mUst recognise that your job as a BUSINESS OWNER is to guide your prospects down along this sales cycle and to control the process all the while you make your prospects feel like they are in control. Your job is to facilitate the decision making process, or to simply ensure that your prospects are moving along the sales cycle and heading towards your door.
The second thing you must recognise is that at any given moment in time, the number of prospects who have made a decision to buy represent the smaller number of people on the sales cycle. In other words, in your entire pool of prospects there are anywhere from 5 to 10 times more people who haven’t made the decision to buy anything yet. We call this group of people future buyers. Those who have made the decision to buy, represented by point 80 to 90 or so, are called Now Buyers.
So here’s an awesome tip that I want you to think about very carefully. 90% of all advertising you see or hear targets the NOW Buyers. Why? Because they are already in the market to buy so any advertisement about a product or service that they are planning on buying will naturally get some results just because the ad was there. This is why most ads can get by being so terrible, because no matter how bad the advertisement is, as long as there is a market for your product or service, there will always be at any given time a number of prospects on the far right side of the Sales Cycle who will respond to poorly created advertising material just because it showed up.
But you’re only making money with this type of advertising based on the force of the market. If the market is moving, you can make money just by showing up.
You see, if you only target those NOW buyers at the end of the sales cycle, your advertising and marketing campaigns will not provide you with a consistent flow of customers. You’ll run some ads, get some results, and then as soon as the ads stop, your new sales stop.
You have to constantly start new campaigns. Now look, I’m not necessarily opposed to constantly running advertising campaigns, especially if it makes financial sense.
Think about what would happen if you were targeting 100% of the people on the sales cycle. Everybody from 1 to 100. And what if you had a system in place that automatically followed up with all of your prospects, controlling the marketing process, and pushing your prospects down the sales cycle to your front door without any effort on your part?
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