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lead generation

If 2% of the sales happen at the first meeting, what happens to that other 98%!

By | customer centric marketing, Marketing Automated Technology, Sales Process, Small Business Marketing | No Comments

“2% of sales occur at the first meeting; the other 98% will only happen once a certain level of trust has been established“.

Trust ladderThere has never been a better reason for follow up than

that quote from Robert Clays research.

People in business often hope and expect to do business the first time they meet a prospect. Yet studies reveal that only 2% of sales occur when two parties meet for the first time. This actually makes sense when you think logically about it. The higher the time and dollar value of the investment the greater perceived risk from the buyer’s perspective. So what happens after that first call or meeting?

A recent study in the Harvard Business Review** found that companies take, on average, 42 hours to contact a web lead, and that 23% of companies did not respond at all. Furthermore, they found that leads that got a response in the first hour were seven times more likely to make contact with the decision maker. What is going on? Why aren’t we following up?

Stale-Leads

1. Number of people who buy on the first meeting – done their homework

The 2% who buy at a first meeting tend to be people who have already looked into the subject matter, and already know what they’re looking for. If they meet someone who ticks all the right boxes and they get on well, then business may well be transacted. But that is far from the norm. The other 98% will only buy once a certain level of trust has been built up.” So of those 2% are well informed and have done their homework and are likely to be troubled enough about their problem (thanks Hugh – Leaky Funnel) to want to solve it, if they find something that will fix it.

2. Salesforce should be well-informed

“Anyone who believes they can go into a sales situation armed with “101 sure fire sales closes” and make sales is seriously misinformed … and about 20 years behind the times. Professional sales people get to know their prospects; understand their issues; solve their prospect’s problems; and provide irrefutable proof. They build relationships and trust by engaging in on-going dialogue (otherwise known as follow-up). They don’t just peddle their products and services with an armoury of closing tricks.” These days doing your homework has never been easier. In a B2B sale you can use google, LinkedIn to research at a company and a personal level. At a B2C level you can ask open questions to uncover their need and if you have a database keep a record of their likes and purchases to communicate with them about other purchases they might like to consider in the future. (Amazon model).

4. Why we don’t buy

follow up

There are many reasons why people who could benefit from your product, service or expertise do not buy. At least not without further prodding. Inertia. Lack of time. Too many other things on their mind. Concern about cost. Cashflow. Budget constraints. More pressing matters. Your failure to do enough marketing to establish your name in your field so they’ll buy without question … and more. None of the these, by the way, is a negative. They are just psychological and transactional realities you must become aware of and recognise … which is why follow-ups are SO important. You really have to create a reason for prospects to consider you. Given that we know that our buyers are out there researching sometimes it is providing a helping hand to assist them in their research, education and sometimes it is just being there at the right time in the right place (where they are) using email, social media and collaboration marketing efforts.

5. Follow up just not done

Yet isn’t it amazing how often you express interest in a product or service, but never hear from the person or company again? It happens all the time. I actually say I am busy when a telesales person calls but invite them to ring me back and very rarely do they. Research shows, amazingly, that only 20% of sales leads are ever followed up … in other words 80% of potential opportunities are lost without trace simply due to lack of follow-up

People and companies who don’t

F1103B_A

follow-up; who do nothing to build up that trust and relationship cannot succeed, especially in today’s tough economic climate. People need to be sure they’re making the right decision before they commit to a purchase.

6.Tenacity pays off…

According to Clay, different studies carried out at different times, in different places, by different market research companies over a number of years all reveal that 80% of non-routine sales occur only after at least five follow-ups.

Think about that. It takes at least five continuous follow up efforts after the initial sales contact, before a customer says yes.  FIVE!!

There are some fascinating statistics on this:

  • 44% of sales people give up after one “no”
  • 22% give up after two “no’s”
  • 14% give up after three “no’s”
  • 12% give up after four “no’s”

That tells you that 92% of sales people give up after 4 “no’s”, and only 8% of sales people ask for the order a fifth time.

When you consider that 80% of prospects say “no” four times before they say “yes”, the inference is that 8% of sales people are getting 80% of the sales! Thus it pays to be persistent and consistent. Remember it is all about catching them at the right time.

OffersIntroduce a five “no’s” follow-up strategy

Once you’re aware of these statistics you should stack the odds in your favour by introducing a “Five no’s” strategy, where you maintain contact with prospects until each one of them has said “no”, or “not now”, or “not yet” … at least five times. Every time you’re in contact you have an opportunity to advance and build the relationship.

Businesses with a “five no’s” strategy will always enjoy a conversion rate many times higher than their competitors who have no such strategy.  What strategies do you have in your business right now to ensure that you contact your prospects regularly in a gentle and meaningful way so that you win their business and their loyalty?

8.Seventy-eight percent of consumers say that they only buy from businesses that make it easy for them to deal with, and a third believe convenience is more important than price.They are at the heart of Customer Experience Management (CEM) and staffed by specialists that are charged with providing the best experience throughout the transaction or journey and ultimately, achieving a tangible ROI. As this transformation has evolved, technology has played an increasingly critical role in linking businesses to their customers. However at the end of the day it is all about how you feel during the sales and after sales process. I once bought a car and because the car dealership did not treat me like the person who was making the economic decision to purchase both my and my husband’s car they lost the deal. I now get my car serviced not by the dealer because they made it too hard for me to get in and get out of the service process quickly.
Read more
9. Acknowledge the Impact of Experience
One bad experience might not send your customer fleeing to a competitor. But then again, it might.  On an internal, process level, bt-autonomous-2take a close look at what keeps your business running every day. If these processes aren’t managed efficiently, they’re costing you time, money, accuracy—and customers. Are there repetitive tasks (inventory checks, transaction reconciliation) that you could automate? If so, moving towards automated processes would save staff time and provide better, faster customer service. However be aware that people like to be empowered but not treated like robots. To actually speak to someone on the phone when doing a service call for a product is a competitive advantage these days.
Read more 

10.“Top of Mind Awareness”

There’s also the fact that 63% of people requesting information on your company today will not purchase for at least 3 months … and 20% will take more than 12 months to buy.

Contacting your prospective and existing customers every 1 month or sooner builds trust and professionalism and keeps “top of mind” awareness.  In this context, your customers do not regard contact for orders, payments and appointments, or the obligatory Christmas card as a meaningful communication. It is important to have an integrated sales and marketing campaign. We are ready when you are.

 

Not sure about marketing automation? Learn more

By | Content Marketing, CRM and lead generation, Marketing Automated Technology, Small Business Marketing | No Comments
Courtesy of Marketo

Courtesy of Marketo

Before the internet and social networks buyers had limited ways to obtain the information they needed and so the sell controlled the buying process. Today we are more informed and armed with more resources than ever but we still want to learn at our own pace. They want certain information, assurance, evidence, hand holding and explanations at different stages along their journey to invest in a product or a service with you. This trend in buyer behaviour has forced us to change how we market.

This is where marketing automation has found its niche.  Only 1/5 of leads are ready to buy on first touch point, can you nurture them?Marketing automation is a set of steps that are mapped out to strategically provide that ideal lead the next piece of communication be it content, contact or offer that will move them to a purchase.

Marketing automation technology allows you to use software to automate touch points so it can be a repeatable consistent experience. It can provide awesome measurement information, tasks and workflows so that over time you make better marketing decisions.

It use to be that large companies where the only users of Marketing Automation technology but today the vendors providing such software have made it not only more affordable for the small business but easier to use.

What does Marketing Automation software do?

There are a few different modules to most Marketing automation platforms but here are the key ones:

  • Lead Generation – via forms, landing pages, integration to social media
  • Segmentation – via database (CRM integration)
  • Lead nurturing and scoring – ranking leads by criteria
  • Relationship marketing – communicating over time (email marketing social media marketing)
  • Cross sell and up sell – presenting choices along the lead/ buyers journey
  • Retention – communication and offers (campaign management)
  • Measurement and RIO – measuring via criteria (Marketing Analytics)

The key advantage of marketing automation I feel is the opportunity to integrate the touch points to the lead or customer and make their journey purposeful. Being able to measure and use analytics to make better marketing decisions is such a valuable insight and interaction opportunities.

Don’t know which automation software to choose? Stuck. We can help.

Marketing Automation Checklist.

Where is your list of customers and prospects?

By | Business marketing, CRM and lead generation, Marketing Strategy, Small Business Marketing | No Comments

Most of you understand the value of building a list of customer contact details. However fewer of you understand that suppliers, PR and prospects are equally important. To do this effectively you need to have a customer database to manage and segment these lists so you can use this information effectively.

Today if you are a small business there are a number of resources to manage your lists effectively at a low cost. Zoho is a great example. There  CRM is free for 1 user and will give you an immediate database resource that you can leverage for email campaigns, forecasting and so much more.

Loopfuse is another great resource as a marketing automation tool that is free for up to 500 contacts. Perfect to track and create marketing campaigns.

 

 

 

 

Business out of control? You need a marketing system.

By | Service Marketing | No Comments

How we solve your marketing issues?

The pain we solve.

We know that as a small business owner, it is likely that you are so busy doing the business, that you don’t have the time to think about it strategically. If you do have a business plan, it’s likely to be in your head. This creates stress and anxiety because very often you know what you should be doing, but are not sure how to go about it, or don’t have the resources to do it!

You know you should be looking at how to grow strategically and protect your business for long term, but you know this requires time, energy, expense and expertise. That is why we started MacInnis Marketing.

The best solution

Ideally you want an affordable, practical, and flexible resource that you can use as a coach and expert to strategically guide your ideas for growing your business and implementing them!

Why we are the best at what we do?

We are marketing gurus for small businesses. We take what is in your head and add our 20 years experience in sales and marketing and ensure we have a practical, actionable plan that helps you run your business more effectively and generates profitable customers. We give you the head-space back, tell it like it is, to hold you accountable. Did we mention we keep the whole process simple and pain free? We ensure all your great ideas are heard and actioned to make a real difference to your bottom line. As a small business like you, we are independent consultants, we choose our partners carefully pride ourselves on delivering real value.

Our Value proposition (what makes us special)

We put in place a system that assists you make better marketing decisions, attracts a regular stream of ideal customers and creates a brand that your employees and customers will love.

Ready to go right now?..Where to start…? 


What you get:

1. Solid ideas to improve your business marketing immediately

2. Easy tips to create real prospects

3. The opportunity to ask any questions of a marketing expert


 

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