Make sure you are sitting down, because we are about to drop a hard hitting statistic on you. Did you know that only 3% of the market are ready to buy from you right now?
So, if 100 people saw your advertisements on Facebook, or Google Ads, only 3 of those people are going to take you up on your offer. Even the greatest promotion in the world would only attract 3% of buyers immediately. That is why you need to consider the buying pyramid.
What is the Buying Pyramid?
The buying pyramid breaks up your audience of buyers into 5 categories. At the very top of the pyramid are the 3% that are ready to buy now. They are followed by the 7% who are open to what you are selling, and could be persuaded to buy. In the middle is the 30% who just aren’t thinking about your services right now. Moving towards the bottom are the 30% who think they aren’t interested and then the 30% who know they are not interested.
Knowing the breakdown of your buying audience will allow you to tailor your marketing effectively. You can sell to that 3% now, and work towards moving the other 97% up the levels of the pyramid to become buyers.
For more information on the buying pyramid, you might want to read our blog on The Power of the Pyramid.
How Can I Get Them Up the Pyramid?
The best and most effective way of moving your people up the pyramid is sending them a regular newsletter. Your newsletter will serve those people who aren’t ready to make a decision right here or right now. The conditions aren’t quite right for them to buy from you today, whether it be budget, focus, or some other reason. But they are still interested in what you have to say, and want to hear from you on a regular basis.
It can’t just be any old newsletter that you have slapped together in an hour because you know that you have to send something out today. It needs to be a cleverly constructed newsletter that builds your business up in the eyes of your people.
The content needs to be interesting, and it needs to add value. Useful information, clever tips, interesting articles, and myth busting are all great ways for you to add value to your database. Don’t be too salesy by only offering promotions, but don’t miss the opportunity for sales either.
Regular Contact is Vital
Research has proven that 80% of sales are made between the 5th and 12th contact point. So, running one singular advertisement will not set you up for retirement.
The key is running that advertisement, and then nurturing the people that engage with it. Once they become a part of your community, make sure that you look after them. Provide them with lots of great things about your business, that will show you as a trusted expert in your field. While they may not be ready to buy right now, they may be ready to buy at a later stage.
Newsletter marketing drives your readers up the buying pyramid so that they can purchase at some later stage. It can help convert people that have been on your list for some time, but haven’t yet bought from you. If you would like some help converting your 97% into buyers, then Newsletter Ready is here to do just that. Give us a call to see how we can help you grow those sales.