Some Marketing Math
Let’s say you have 100 leads.
People who’ve inquired about the problem you solve.
Statistically speaking, 50 of those people will never buy.
Not from you or anyone else.
That leaves 50.
Of those 50, 15% will buy within 30 days.
That’s 7 “now buyers.”
The remaining 43 are future buyers. Depending on your market, future buyers may take anywhere from 12 to 18 months to make a purchase.
Whether or not they end up buying from you depends a great deal on your follow-up.
This leads to some interesting questions:
- Are you making it easy for the now buyers to buy from you?
- Are you staying “top of mind” with the future buyers?
- Does your follow-up last long enough (12 to 18 months)?
- Should you continue to buy 100 to get 7? Or should you focus on winning more future buyers?
It’s easy to mistake future buyers for non-buyers.
If we write off future buyers too early, they’ll still buy.
Just not from us.
Yours for smarter marketing,
I love working with small business owners. I’ve been helping (and running) small businesses in one form or another for over 30 years. First as a CPA. Then as a custom software developer. And for the last as a marketing consultant.
I understand how hard and frustrating it can be to grow your business.
Especially when you are in charge of not only marketing and selling, but actually doing the work (in addition to the other half-dozen hats you wear). This is why I focus on helping people create marketing plans that start with fundamentals.
Without a marketing plan built on solid fundamentals, you’re doomed to chasing the marketing idea of the week.
Or Random Acts of Marketing.
I believe marketing shouldn’t be complicated. It should help, not get in the way of, getting your work out to the people who will appreciate it the most.
If you’d like some help with your marketing, or just want to talk about small business, don’t hesitate to reach out.